A news story came out this week that somewhat caught my eye because it involved two things that I pay attention to, golf and taxes. You may of heard the story about golfer Phil Mickelson talking about leaving the state of California because the taxes there are too high. It was a headline news topic early last week. Well low and behold, the following day, Mr Mickelson decided to apologize for his statements. Maybe he hurt the feelings of some high tax liberals in California and got some heat from it. Anyways, this trend of overtaxing high wage earnings is bound to continue and I can see more rich people speak out against paying more than their fair share.
For those of you who do not know Mickelson’s tax rate, it is nearly 63 percent if you combine the federal, state and other taxes. So good old Phil only keeps 37 cents for every dollar he makes. Is that fair? In my opinion, that is highway robbery and insane!! I don’t care if you make a trillion dollars a year, it is still ridiculous. Mickelson has every right to want to leave a state with those kind of tax rates.
California is not the only state where this type of robbery takes place. New York is another example of a state trying to gouge people through the wallet. My state of Minnesota with our liberal Democratic governor Mark Dayton is trying the same trick with high wage earners. He is not stopping with high wage earners either. He wants to tax everything in this state even the number of times you flush the toilet!! Well not really but you get my point.
I often hear the same talk from many Democratic governors. In order to balance their budgets, they want the rich guys to pay and pay more. It may sound like a logical way to pick up more revenue by going after the well to to do but does it really work? If I were some wealthy person like Mickelson, I would bolt the state before the governor even had a chance to sign the tax increase. I see more and more wealthy people doing that. Even Tiger Woods admitted that he left California because of the taxes. Sure, some people probably love the state and will stay despite the ridiculous taxes, but there comes a break even point and that point seems to have come. Many people are leaving the state and I cannot blame them at all.
If I was a governor of a state, I would want as many rich people living in it as possible. They are the true job creators and investors as well as the people who spend the most. Why a governor would want to punish the rich with higher taxes and force them to leave makes no sense at all. Imagine if someone had a choice of starting a company in any state. I would avoid California at all costs. The same holds true of other states who want to hike up the tax rates to deal with their poor financial situations. When all those wealthy people leave and move to another state, then your high tax rates will really look foolish.
People who criticize Phil for his comments are complete morons! I am glad Tiger Woods stood up for Phil and told it like it is. People like to complain about the rich not paying their fair share. Giving away 63 cents for every dollar you earn is totally wrong. I wish more wealthy people would speak out against this nonsense. Pretty soon there will be absolutely no incentive to earn any money at all. Why should I work hard and make money when I have to give more than half away in taxes. It is the type of foolishness that some governors and especially our president believes in. That type of garbage policy should not happen in the United States. It is socialism not capitalism. Eventually, everyone including the poor gets hurt by high taxes. Phil has absolutely no need to apologize. The real apology should be made by those who voted for the higher taxes and the politicians who always want the tax rates to go up. They are the real villains.