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Billionaire Jeffrey Gundlach slams California over taxes, may leave state

17 pointsby matan_aover 4 years ago

4 comments

textechover 4 years ago
Not from California but I don&#x27;t blame him. Instead of controlling waste, the usual answer from state and local governments (particularly in California) seems to be raise the taxes. When you have janitors making making 250k+ you have some serious issues and that&#x27;s just the tip of the iceberg. The sheer number of administrative positions, departments and salaries just boggle my mind.<p><a href="https:&#x2F;&#x2F;time.com&#x2F;4555692&#x2F;san-francisco-bart-janitor-salary&#x2F;" rel="nofollow">https:&#x2F;&#x2F;time.com&#x2F;4555692&#x2F;san-francisco-bart-janitor-salary&#x2F;</a><p><a href="https:&#x2F;&#x2F;www.openthebooks.com&#x2F;forbes-why-california-is-in-trouble--340000-public-employees-with-100k-paychecks-cost-taxpayers-45-billion&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.openthebooks.com&#x2F;forbes-why-california-is-in-tro...</a>
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apiover 4 years ago
People can blast him for being greedy, but here&#x27;s the thing about California and its taxes: they are being wasted.<p>We have a state with awful public transit, tent cities of homeless people, decaying infrastructure, wildfires (yes its partly a Federal problem but the state could do something), gross inequality between school districts, and chronically terrible urban planning leading to a housing shortage. California is incredibly wealthy and is relatively high tax (though by no means the highest) so what bottomless pit is that money falling into? California is a money pit where no amount of cash fixes anything. Might as well just set money on fire.<p>You could say the same thing about America as a whole. We pay only a bit less in taxes than Canada (at least if you&#x27;re middle class) but get a fraction of the benefits.<p>I&#x27;d be sympathetic with a tax increase if current money were being spent wisely, but don&#x27;t ask for more money when you can&#x27;t even build one high speed rail line at 10X the cost of anywhere else in the world.
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RickJWagnerover 4 years ago
Another article on the same here:<p><a href="https:&#x2F;&#x2F;www.theblaze.com&#x2F;news&#x2F;billionaire-gundlach-leave-california-taxes" rel="nofollow">https:&#x2F;&#x2F;www.theblaze.com&#x2F;news&#x2F;billionaire-gundlach-leave-cal...</a>
ogre_codesover 4 years ago
&quot;Leaving&quot; California for a billionaire means likely he&#x27;s going to start claiming taxes in another state while continuing to live in California and enjoy the benefits of being in the state without paying for them.
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