Lets remember that the CA state income tax is the harshest in the nation. It is probably the most steeply progressive, topping out at about 10%, and especially hits the middle class $50k & up earner.
And CA’s treatment of capital gains must be the most punishing in the nation. I recently sold a long-held property, and the state bite was about 60% of the federal take.
Some states, including Texas and Washington, have NO state income tax. Their economies and real estate are doing quite well. Our far-left Sacramento legislators, OTOH, are now pushing for a higher income tax. Another reason the high achieving, high earning middle and upper class is fleeing CA.
