Eastward Ho!
What to know: Writing in the Wall Street Journal, economists Stephen Moore and Art Laffer wonder why the wealthy continue to stay in California, despite its punitive wealth taxes—and all the state’s other problems.
The TPPF take: California’s opulent capitol building shows evidence of the Golden State’s former fortunes.
“Today, those who work in that capitol, representing the interests of 39 million people, are an increasingly isolated elite, loosely guiding a vast and powerful unelected bureaucracy that sees nothing as too insignificant to regulate or proscribe,” says TPPF’s Chuck DeVore. “The result looks increasingly like an ‘Elysium’ on earth, with wealthy enclaves of the beautiful people surrounded by masses struggling to get by.