California, once a magnet for the enterprising and ambitious, is losing residents. There's not so much a giant sucking sound coming from the Golden State as there is the hiss of a balloon losing its air.
The Census Bureau says that California had a net loss of 100,000 people last year. Many headed for Texas (58,992), while Arizona (49,635), Nevada (40,114), Washington (38,421) and Oregon (34,214) all took in fleeing Californians.
So what's the state's trouble? Here's a partial list.
The Tax Foundation ranks California behind only New York and New Jersey as the worst state in its 2013 Business Tax Climate Index. It is the fourth worst state in which to make a living, according to Money Rates; has the fourth highest income tax burden, says the Tax Foundation; and has the third highest jobless rate.
Source: Investors Business Daily. Read full article. (link)