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Joining us now to talk about -- tax migration.
From California to Texas is Travis brown president all but let voters -- side.
I Jarvis spent about -- give you some numbers here how many businesses are we talking about.
But we're talking about a lot of tax payers over last fifteen years over two trillion dollars has been moving from -- from high tax regimes to low tax regimes.
California to put -- point on it.
Lost over 32 billion dollars while Texas as you mention had gained 22 billion dollars -- is happening all across the country.
No I've got this report from the Austin chamber of -- -- and that's just one of them.
And they say that I mean he's just a question of location relocation -- that's what it is.
About they said the number of inquiries has doubled more than doubled since November of last year when they put in place these higher taxes in California you got -- -- -- Well I it's not a surprise because -- -- been consistently.
-- happening over the last decade but.
There are there other trends as well businesses like state farm considering.
Relocations to Dallas so is is not a surprise win over a 146.
Has found its way to -- nine no income tax states that others are gonna follow that and that corporate relocations in small business filings will be.
Key indicators to watch can you document this because the New York Times said.
There is no hard evidence that rich people talking about income taxes now relocate because of high tax rates.
Well exactly where we're using IRS taxpayer data files and US Census Bureau we're tracking activity from 1995.
All the way to 2010.
And it shows literally billions of dollars moving.
From these high tax regimes low tax regimes just last week -- reports.
From California entrepreneurs and tech companies worried about retroactive taxes in California.
This is gonna have an impact as well so it's foolish to think -- tax factors are not impacting local decisions on where to locate your business.
Okay Louisiana Oklahoma Kansas North Carolina.
They are about to enact -- no income tax policies all very very low income tax policies.
Are they doing -- specific because of the numbers that -- talking about.
They understand that when you look at -- this ten states like Texas Florida Tennessee.
That states attacks left some production.
That they're their employment figures are better there economic growth rates are higher.
And their seeing a surge even when and how they balance their budgets with state government revenues so for those reasons I think you're gonna see.
Many other states and their governors.
It actively engaging on how to lower marginal tax rates are federal tax rates are fixed but our state tax rates can can be changed.
All right -- by the way Texas has a huge -- -- this past years on the senate I think nine billion or more I think it is.
-- Travis brown thank you very much indeed -- again soon to.
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