One of the bigger stories last week was Phil Mickelson’s comments after his win at a prestigious tournament. He stated that he was tired of paying over 60% of his income to Uncle Sam and the State of California. This has become a problem in California as the tax rates have gone up. Phil Mickelson will be happy to know he is not the only one, over 100,000 people have left for states like Texas, Florida, Arizona, and Tennessee. The bottom line is thousands of people are leaving the beautiful state of California because they cannot afford it. Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins Fox News to examine why Californians are leaving the state. Is it strictly because of the higher tax rates or other things like cost of living increases as well?
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.
Tags: arizona, cost of living, ed butowsky, financial advisor, florida, no state tax, paying taxes, state of california, tax rates, tennessee, texas, wealth manager