Gov. Jerry Brown,
I admire your lifetime of service to the great state of California. As a resident and small business owner of 20 years in California, I want you to know how I feel about your proposal to 'temporarily' hike the state income taxes and the negative effect it will have on me, my family, my businesses and the State of California.
While it appears you have support for these new proposals, I wanted you and those that support the proposal to understand the impact this will have on people like myself and the decisions I will make if you are successful.
Understand that I love this state. I went into business to create a job for myself with the hopes that I could create financial freedom for myself and my family. I have since created opportunities for the people that work with me while assisting individuals and companies around the US and the world improve their own businesses and financial lives.
Over the last 20 years my companies and myself have willingly and without resentment paid MILLIONS of dollars in taxes in the form of property taxes, sales taxes, payroll taxes, and income taxes. I have funded the educational budget and never had a child in the system. I have created hundreds of jobs in this state through my hard work and risk-taking. 90% of my companies' income is generated outside the state while 100% of the jobs created are here. Also I spend and invest a majority of the monies I earn around the U.S. in California.
I am from middle-class America and started each of my businesses with no money and without being a burden to the system. I have never used government funding for any of our projects. My family doesn't use the public school system, hospitals, or any other social services. We are not a burden to the system. During the most recent economic collapse I didn't let anyone go despite the brutal financial pounding that my companies experienced. Rather than cutting employees, I cut my pay instead and financed my personal life from savings.
If the people of the state of California pass your proposal to raise taxes to on the highest earners I will move my family and businesses out of state. I believe many other entrepreneurs and business owners able to relocate are considering the same action. You make other states look much more attractive for growing my businesses and creating financial solvency for my family.
While you suggest that these monies will go to funding the education system I suggest that rather than taxing those above 250,000 ask them to fund their own kids' education and not burden the system. This will free up monies the state already collects to provide for those in need. This would be a better solution if indeed the State is merely trying to raise revenue to fund the educational issues.
Sacramento has proven itself incapable of increasing taxes and balancing the budget.
Even if a majority of voters support this proposal it doesn't mean it is the right thing to do. When enough people like me move out of this state, which I believe they will, the state will pay the ultimate price with higher unemployment, further erosion of housing prices, less tax revenue and the only beneficiaries will be states like Washington, Nevada, Texas, Tennessee and Florida.
Grant Cardone, Small Business Owner