No Gold in the Golden State

The American dream is becoming less and less obtainable in the Golden state, since more and more corporations are finding the lands of the Golden state to be no longer fertile to keep their businesses here or grow it any longer. The Golden state has one of the highest sales tax rate in the nation at currently 7.5% as of 2014 base on the information stated on The income tax for the Golden state is also the highest in the nation making it no longer a hotspot for business growth and expansion. And then there is also a new bill called the SB-1372 that will impose a tax on business if their CEO makes a certain multiple of the median of their average workers. With all these tax rate that are very unfriendly towards businesses its no wonder why many corporations are leaving the Golden state for some better opportunities. The lands of the Golden state are starting to lose their shine when compared to other states in the nation like Texas, where it has one of the lowest tax rate for businesses. Something must be done in order to keep the gold in the Golden state.
As of right now California is currently ranked at 48th in terms of the best state in the nation to do businesses in, base on the research done by Scott Drenkard and Joseph Henchman. The information that Drenkard and Henchman provided was based on Calfornia's corporate(31st), individual income(50th) , sales(41st), unemployment insurance(16th) , and property tax rate(14th) which together causes the Golden state to only amount to the 48th best state to do business in. And if that wasn't enough to scare businesses from running away, then the new bill called SB-1372 will surely do that, since this new bill will call for an increase in corporate tax on business based on...

... middle of paper ... the rich keep their wealth, and basically yes it is, but the smart rich people knows that one doesn't get rich by simply keeping the wealth. Its by investing that money into one's business or starting up a new business all together, which would basically make them more money and create better growth in the Golden state.
We should be lowering our current tax rate in the Golden state to keep businesses here in the Golden state instead of raising it. Raising the tax rate when it's already one of the highest in the nation will do no help at all other then scaring off businesses to other states. With my solution of lowering the sales tax, having a tax discount based on employees, and giving new businesses a helping had at the start could potentially help out the Golden stat. This is my solution of how to keep the gold in the Golden state, since everyone wants gold.

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