Current Event Journal #3

CEJ #3

Nagourney, Adam

nytimes.com

2/6/13

U.S.

http://www.nytimes.com/2013/02/07/us/millionaires-consider-leaving-california-over-taxes.html?ref=politics&_r=0

With the new year, the income tax has come to a jaw-dropping 51.9 percent. This percentage tax is for people who make 1 million and excess dollars that they earn. This is making millionaires like Tiger Woods, Phil Michaelson and many more, flee to places like Florida that has no percentage income tax. California tax has become the largest of any other state and also the steepest wince World War ll. The governor of Texas has been transmitting a radio advertisement for businesses to come to it and begin there work again there. Many millionaires are define California as a place where taxes are high and people there who hate them. Christobal Young predicted that only few millionaires will move and many will find a loophole and try to find ways to avoid having such high taxes. 

I think that the taxes are a little too high. They should be decreased but not by much because if they have too much money for themselves they would begin to bend the rules with wealth. Then again they need money to pay for their huge mansions that they don't need. If they move to Florida then they will adapt to the ways there and begin living in huge houses again but just not in Beverly Hills. So it wouldn't be the same but they would still have enough money to bend the rules and laws. I think the tax income should be the same in all states.