California lawmakers curious about Texas’ business benefits

[BJJ-Blue]

"Some California lawmakers were in town Thursday to figure out what makes business owners in The Golden State want to relocate to Texas.

Officials with hamburger chain Carl’s Jr. said the benefits of the Lone Star State motivated them to open more restaurants in Texas. They also say they might relocate the restaurant's headquarters to Texas from California.

It's not a difficult choice for Carl’s Jr. CEO Andrew Puzder. He said his home state of California has too many taxes and not enough flexibility.

“In Texas, it takes us about six weeks to get the permitting done to start construction. In California, it can take up to two years,” he said. “In some respects, we've rested on our laurels. In some respects, we've sat around and waited for folks to come knocking on our door.”

California Lt. Gov. Gavin Newsom says Texas’ job creation is prospering in the same way California is struggling.

“The reason I came out here was out of frustration and admiration for some of the work you've been doing,” he said.

The visiting delegation said between 2008 and 2010 Texas added 165,000 jobs, and California lost more than one million.

“We're primarily here for one reason, to meet with businesses that used to be in California and uprooted their family, uprooted their businesses and moved 2,000 miles to a state that allows them to compete on a national and global scale,” Newsom said.

Gov. Perry will continue to host the delegation through Friday."

Source:
http://austin.ynn.com/content/top_st...iness-benefits

So now even the most liberal of liberals are now asking us stupid, Southern, Texas rednecks how to create jobs. You gotta love it!

[MasterKiller]

Perry doubled Texas' debt load.

Texas is looking at a $25 billion shortfall on a $95 billion budget. Pro-business, anti-tax, low-spending, and praised for being so right up until the moment before it blows up.

[BJJ-Blue]

But unlike many other States we have managed to save enough money to have a "Rainy Day Fund". And some of those savings came under Perry's years as Governor. The Rainy Day Fund is enough to cover the shortfall, but Perry is choosing to cut our expenses rather than deplete the fund to in order to keep things we can afford to cut.

Look, you can always find something not perfect about any State/City/County/Country/etc. But it clearly says those people running California are now admitting our system is working better than theirs and thus they are asking us for help. You cant argue with that fact.

[MasterKiller]

But unlike many other States we have managed to save enough money to have a "Rainy Day Fund". And some of those savings came under Perry's years as Governor. The Rainy Day Fund is enough to cover the shortfall, but Perry is choosing to cut our expenses rather than deplete the fund to in order to keep things we can afford to cut..

Not quite. The rainy day fund can't even cover half of that debt.

The Rainy Day Fund, which is expected to have a balance of $9.4 billion at the end of the next budget period, is made up of revenue from oil and gas taxes.

And they are already tapping into it....

Gov. Rick Perry and House leaders agreed Tuesday to use $3.2 billion from the state's reserve fund to close a deficit in the current budget, according to a statement from Perry's office.

[BJJ-Blue]

Bottom line: We are doing better than California, and those running California are admitting it and asking us for help.

[MasterKiller]

Bottom line: We are doing better than California, and those running California are admitting it and asking us for help.

Just like when the rest of the world invested in American mortgage securities...Looked like a good idea at the time, then the bottom fell out. Texas' prosperity compared to the rest of the country is a smoke screen.

[curenado]

I think you are both about right, really. California has made it's own unsolvable problems and really rather enjoyed bragging that the whole way - they are just at the inevitable now with the way they have been doing things.

California does make it so a business has to struggle and crawl but a pile of worthless bum runs the place. They totally get what they deserve on that and more to come....

Texas is better for most intents and purposes, but hopefully they will keep up the "Jack be nimble.." or at least prepare for damage control, because though I have a poor grasp of finance it seems to me that there is another big boom looming that could happen at any time - or in six months, or a year, but it too seems inevitable.

So who knows how the cookie will crumble exactly? But it is right now and will continue to crumble - of that I am more certain. I am also more certain that the Texans can handle such a scenario much better than the Californians owing to their ability for simple survival which the majority of Californians no longer possess.

Guess we will not have to wait long to find out.....

[BJJ-Blue]

Texas' prosperity compared to the rest of the country is a smoke screen.

Props for going on record with that prediction about the bottom falling out.

Time will tell whether you're right or whether I'm right....

And fyi, it's not a smoke screen. We have lower unemployment, less debt, a better real estate market, and are gaining jobs at a faster rate than most (if not all States). And those are numbers that are facts backed up by Government fighures.

[wenshu]

So people would rather do business in one region of Mexico over another, who cares?

[wenshu]

Seriously though, you are gloating over Carl's Jr.?

Texas; more strip mall fast food options than California.

[BJJ-Blue]

California lost 1 million jobs and we gained 165,000. If you think it's only Carls Jr thats moving their jobs and headquarters to Texas, you're mistaken. I work in high tech, and we are seeing alot more Californians coming here the last few years who work in this industry.

What really cracks me up is that those running California are admitting they have a problem and are coming to us for the solution. And yet a few of you are saying how bad Texas is economically. Talk about drinking the Kool-Aid.

[MasterKiller]

Texas is 22nd in unemployment (8.2%). Middle of the pack.

[YouKnowWho]

You pay

- 1.16% property tax in California (fix and will never be increased).
- 2.3% property tax in Texas (increase every year).

Why does anybody want to live in Texas?

[MasterKiller]

You pay

- 1.16% property tax in California (fix and will never be increased).
- 2.3% property tax in Texas (increase every year).

Why does anybody want to live in Texas?

Texas has no state tax, which is awesome. But the property taxes are outrageous.

I pay 5.5% state tax in Oklahoma. F@cking ridiculous.

[BJJ-Blue]

You pay

- 1.16% property tax in California (fix and will never be increased).
- 2.3% property tax in Texas (increase every year).

Why does anybody want to live in Texas?

MK is correct, California has a State income tax. The highest rate is 10.3%. If you make over $47,056 its 9.3%.

As to property taxes, in California some municipalities have Mello-Roos taxes, which is in a nutshell a separate property tax levied by the city/county. This can be up to several hundred dollars PER MONTH in some areas (Orange County/Irvine for example). Texas does not have those.

Texas does not have a State property tax. It is done on a local level, by county/city/school district. And the rate is not guaranteed to increase every year as you stated. Knowing this, I'm curious where you got that 2.3% number.

As to why anyone would want to live in Texas, ask any one of the thousands of refugees from California why they chose to come here for a new life.

Texas has no state tax, which is awesome. But the property taxes are outrageous.

I pay 5.5% state tax in Oklahoma. F@cking ridiculous.

Again, depending on where you live, it's not always bad.

Is that 5.5% a State income tax?

Source:
http://www.bankrate.com/finance/taxe...xes-texas.aspx