Toyota's Tax Exodus Sends Shockwaves Through Job-Impoverished California .

Toyota’s move from its Torrance facility, above, will occur over  the

next three years as the new headquarters is built in Plano, Texas.

 (Christina House / Los Angeles Times)

 

The state must choose; you can keep electing governments run by Jerry Brown and Nancy Pelosi or you can have prosperity.

 

Forbes   "Toyota’s decision this week to leave Torrance, California, for the pro-business environs of Plano, Texas, sent shockwaves through the Southern California community where Toyota employs more than five percent of the workforce. According to MSN Money, the move brings to mind Nissan’s decision eight years ago to move 1,300 jobs to the no-income tax state of Tennessee. A former Nissan executive recalled how the move equated to the company’s employees “getting a 20-percent raise.”

"According to the 2013 City of Torrance’s Comprehensive Annual Report, the city stands to lose more than $473 million in property taxes. Plus, just over a year ago, Moody’s downgraded Torrance’s credit rating, citing a weakened general fund and increasing public expenditures."
...
"And it is not as if California’s anti-business tactics are a well-kept secret.

• CEO Magazine’s 2013 Best and Worst State’s for Business ranks California in last place
• The 2014 ALEC-Laffer State Economic Competitive Index ranks the state 43^rd in economic performance, 47^th in economic outlook, 50^th in top marginal personal income tax, 50^th in personal income tax progressivity, and, to make matters worse, 49^th in recent legislative tax changes.
• The 2014 Tax Foundation State Business Climate Index ranks California 48^th, just above New York and New Jersey."