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Californians choose lifestyle over job rate

George Chamberlin

Friday, October 15, 2010

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"I concur that California's tax system, one of the most progressive in the country, leads to more economic volatility by encouraging state spending to proliferate during upswings and intensifying revenue losses inevitably occurring," said Kelly Cunningham, economist at National University System Institute for Policy Research.
In particular, Cunningham says, "California depends on 200,000 wealthy taxpayers for 25 percent of its revenue. Placing so much of the tax burden on so relatively few income earners, who are much more able to shift residences and shelter earnings, puts California in a precarious position."