Taxes

Economics teaches that if you raise taxes on something you will get less of it and visa verse. Both California and New York, the states with the highest state income tax, are losing people and they are moving to Texas and Florida where the is no state income tax. The two high tax states are now considering a wealth tax which will further exacerbate the problem. Both of these states are dominated by democratic control and the population is majority democratic. They are incapable of cutting spending and so must resort to higher taxes to keep from going broke but it will not end good. Most politicians figure they will be retired when the day of reckoning comes.