CA defaults on $18.6B debt!
(www.zerohedge.com)
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And there goes their Economy. I’d imagine the tech firms will start jumping ship to avoid the higher tax rate’s given they’re already bleeding money and laying people off.
The employment tax goes up 0.3% per year or about 10% of an annual raise. Employers are not going to pay this, employees in California will pay it via slightly lower raises.
It may become even more financially attractive to find work in another state.