After the results of the midterm elections, most political pundits speculate that California's government is bound to fail. Hundreds of companies have been taking their businesses to more business friendly states, like Texas. This not only reduces employment opportunities, it reduces State revenue. The reduction in Revenue leads to increased taxes to make up for it, cuts to teachers, policemen and fire fighters (of course, those are cut before political positions and offices). With the heavily democratic political structure of California, and the extremely high unemployment rate here, it is guaranteed the already highly taxed "wealthy" Californians will be hit hardest to "pay their fair share," to keep the State out of bankruptcy, extend unemployment benefits, provide more funding for "Green" things, etc. It is also guaranteed, that any prospective coaches, will fall into that democrat hated "wealthy" category.
Serious question. I know most here don't like to talk politics, but when reading an article about Cower not being available because of his love of the East Coast, it got me thinking... Who would choose to live in California?
So, if you are a highly regarded coach in the NFL, and you have several teams willing to pay you similarly large quantities of money to coach for them... wouldn't the State's economic and political makeup register into your decision of where you want to go? Going someplace with no income tax or California who is going to take almost as much from you as the Federal Government? State income tax for anyone making over 1 Mil in California was 10.5% last year. How much will it be next year? That is an automatic reduction of 10% to whatever they get paid. Not including property taxes, sales taxes, and all the many other taxes Cali charges (luxury vehicles, gas guzzler, blah, blah).
So, let's take $1 Million. Federal Income tax... 35% ($350,000), California... 10.5% ($105,000). Your final paycheck on $1 Mil contract, $545,000. (That doesn't include property taxes on your big new house, or luxury car and who knows what else).