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Richard Rider

Another VERY high paying company leaving California

California is losing another high paying firm to a tax-free state. This company is so rich that it pays EVERYONE who wears its corporate uniform AT LEAST a big six figure income.  Some get 7 or 8 figure annual incomes.

That departing company is (currently) known as the Oakland Raiders.  Soon to be known as the Las Vegas Raiders.  Or perhaps the Nevada Raiders.

Are taxes the only factor?  Nope.  But a zero percent state income tax will make recruiting high quality free agents much easier for the Raiders than the current “enticement” of paying a 13.3% California state income tax — a tax that in essence will become a permanent tax after the November election. Moreover, rich young men would doubtless prefer to be in glitzy Las Vegas than in decaying Oakland.

And let us not forget the 0% Nevada CORPORATE state income tax.  The CA corporate income tax is 8.8% — highest west of the Mississippi (except Alaska).

Yeah, the Raiders will get a spiffy new Las Vegas stadium largely at taxpayer expense.  But old stadium or new, the Oakland Raiders (who are off to a great 4-1 start) currently have almost the entire upper tier of their Oakland stadium empty.  Local people simply can’t afford to go to the games. Those that CAN afford such games go watch the San Francisco 49ers.

The press will make much of the taxpayer subsidies, and that’s just fine with me.  I’m adamantly opposed to taxpayers subsidizing millionaires and billionaires. But I think that perhaps the press will miss the more fundamental factor that, year after year, the players and owners will make (net) a lot more in Nevada than in California.