Posts Tagged ‘Frisco’

Texas vs. California Update for May 10, 2016

Tuesday, May 10th, 2016

Time for another Texas vs. California update:

  • In a fiscal test of which states are best prepared for the next recession, Texas ranked best and California ranked worst. (Hat tip: Jack Dean of Pension Tsunami.)
  • And California didn’t just flunk the test, it flunked it badly. (Ditto)
  • A big reason is the top-heavy nature of income tax receipts. “Nearly half of the state’s personal income tax revenue comes from the top 1 percent of earners — 150,000 individual tax returns. And personal income tax revenue is 65 percent of total revenue, which means the One Percent provides 33 percent of the state’s total revenue.”
  • Here’s a handy comparison of Texas vs. California debt ratios using a number of different metrics. You can also look at several different metrics with the general pension tracker tool, put together by the Stanford Institute for Economic Policy Research. (Hat tip: Pension Tsunami.)
  • The same source tells us that California has the third highest market/pension debt ratio in the country, while Texas ranks 34th.
  • “During the Great Recession and since, Texas has been America’s jobs engine, creating 34 percent of all U.S. civilian jobs during the last eight years in a state with less than 10 percent of the nation’s population.”
  • Moody’s downgrades bond ratings for the Pasadena Unified School District right when the district passes a 6% salary increase.
  • Reno is increasingly benefiting from companies relocating from California.
  • Texas company wants to store California’s nuclear waste.
  • “In 2014, a study by the conservative American Enterprise Institute found that full-career state workers in five states — California, New Mexico, Oregon, Texas and West Virginia — earned more in retirement income than in their final salary.” I’m pretty sure Texas salaries on average were significantly lower than California’s, and that there were less of them…
  • Court strikes down California Attorney General Kamala Harris’s unconstitutional attempt to compel conservative nonprofits to reveal their donors. (Hat tip: Ace of Spades HQ. )
  • Bay area law enforcement offices have “lost” over 500 guns since 2010.
  • The headquarters for Jamba Juice is relocating from Emeryville, California to Frisco, Texas. (Hat tip: Jack Dean of Pension Tsunami.)
  • The U.S. headquarters for Mitsubishi Heavy Industries relocated from New York to Houston.
  • Texas vs. California Update for June 20, 2014

    Friday, June 20th, 2014

    Believe it or not, there seem to be a few actual glimmers of sanity in California in the latest roundup:

  • Texas: Not just leading the nation in jobs, but doing it more equitably as well.
  • “The income gap between rich and poor tends to be wider in blue states than in red states.” More: “Texas has a lower Gini coefficient (.477) and a lower poverty rate (20.5%) than California (Gini coefficient .482, poverty rate 25.8%).” (Hat tip: Instapundit.)
  • Perhaps the biggest crack in the “Blue State” model this month was a state superior court judge ruling that California’s teacher protection laws were illegal, because they violated the equal protection clause for students. How the Vergara vs. California decision plays out on appeal is anyone’s guess, but just recognizing that union contracts that keep crummy teachers employed harms students is a huge step forward.
  • New California payroll and pensions numbers are now available. “The data shows that public compensation in California is growing more out of control, threatening the solvency of the state and local governments.” Let’s take a look at a few locales, shall we?
  • Will wonders never cease: CalWatchdog calls the just-passed California budget “fairly prudent.”
  • The legislature also passed a law almost doubling the amount of money school districts pay into CalSTARS.
  • But don’t let that fool you: California’s legislature is still crazy.
  • Especially since California Democrats just elected a new Senate leader guaranteed to pull them to the left.
  • But Republicans are poised to torpedo California Democrat’s Senate supermajority.
  • Desert Hot Springs is contemplating dissolving it’s police force to avoid bankruptcy. (By my count, 21 Desert Hot Springs police officers make more than $100,000 a year in total compensation. Including five officers who make more than the Police Chief…)
  • San Bernardino has evidently reached agreement with CalPERS in it’s ongoing bankruptcy case, but no details have been reported.
  • They also closed a gap in a yearly budget thanks to some union concessions. But one union is balking, and its members are threatening to join the SEIU instead.
  • The California town of Guadalupe considers bankruptcy. One problem is that the town has been illegally transfering money from dedicated funds (like water bills) to general funds. “If voters do not pass three new taxes in November, Guadalupe is expected to disband its police and fire departments, enter bankruptcy or disincorporate, meaning it would cease to exist as a city.”
  • Ventura County residents collection enough signatures to force a ballot measure on pension reform. Response? A lawsuit to keep it off the ballot.
  • Los Angeles 2020 Commission goes over what changes the city needs to avoid a future where “40% of the population lives in ‘what only can be called misery,’ ‘strangled by traffic’ and hamstrung by a ‘failing’ school system.” Response? “Meh.”
  • Sickout among San Francisco municipal bus drivers. Good thing poor people don’t depend on buses for transportation…
  • Huge growth in Texas apartment complexes.
  • California’s prison system illegally sterilizes female inmates against their will.
  • The Obama Administration Department of Education is driving the California-based Corinthian for-profit college chain out of business.
  • A Californian discusses why relocation to Texas might be attractive, and hears the pitch for Frisco, Texas.
  • “‘Building a business is tough. But I hear building a business in California is next to impossible,’ Perry says.”
  • California regulators can’t be arsed to come out and check flaming tap water.
  • California bill to add warning labels to soft drinks fails.
  • California-based nutritional supplement maker Natrol files for bankruptcy, mainly due to class action suits. I note this because I’ve found their 3mg Melatonin to be really effective as a sleep aid.
  • Austin Just Passed San Francisco (or California vs. Texas: Round 55)

    Thursday, June 28th, 2012

    Today brings news that Austin just surpassed San Francisco in population to become the 13th largest city in the country. In fact, Texas had six of the top seven fastest growing cities over the past 14 months: Round Rock, Austin, Plano, McKinney, Frisco, and Denton placed 2-7, topped only by a post-Katrina New Orleans. And at only 7,000-odd residents behind Jacksonville and Indianapolis, expect Austin to be the 11th largest city in the country the next time this list is updated.

    And that news gives me a great excuse to to another roundup of Texas vs. California!

  • “Texas has been doing very well. If you draw a triangle whose points are Houston, Dallas and San Antonio, enclosing Austin, you’ve just drawn a map of the economic and jobs engine of North America.”
  • “California may be dreaming, but Texas is working. According to the U.S. Census Bureau, from 2000 to 2010, California lost a net of 519,600 jobs while Texas gained 1,093,600 jobs.” Lots of additional statistics here make the case for the measurable superiority of Texas’ Red State model over California’s Blue State model.
  • And they brought their incomes and assets with them. And there are plenty of reasons to move to Texas:

    Lest you think this is some kind of fluke, or that taxes are not the determining factor in this “escape from NY and California,” it isn’t just Texas that is gaining all these fleeing residents. The U.S. Census reported that all of the top 15 states for population growth during the past decade are no tax or low tax states like Nevada, Florida, Arizona, Utah, Georgia, North Carolina and South Carolina. It seems Americans are smarter than politicians give them credit for- they are voting with their feet for lower taxes, pro business attitude, and more economic freedom.

    Because no state in the union has a better economy, let’s look “up close and personal” at the Texas miracle. Texas practices what I proudly call “Wild West Cowboy Capitalism.” And it works!

    Texas has zero state income tax, zero capital gains taxes, and zero death taxes. It is a “right to work” state where employees may choose to join a union, but are never forced to. It is pro business and anti-lawyer (discouraging class action lawsuits and the first state to pass a “Loser Pays” law). Texas is also tight-fisted with welfare and entitlement benefits- unlike New York and California. The result of this limited government attitude is people with high incomes, assets, and ambition are moving into Texas, while those who lack work ethic, and feel entitled to handouts are moving out. Good riddance.

    But the most important attribute of Texas is that its constitution limits the time that politicians can meet. The Texas Legislature is limited to meeting only 4 months every other year. That pretty much explains everything. Texas and my state of Nevada have no state income taxes and the fastest growing populations in America…not in spite of, but because the politicians aren’t allowed to sit in their seats all year long thinking of new ways to re-distribute income, impede business, and destroy jobs.

  • How red tape strangles job creation in California.
  • Tort reform has resulted in a 44% increase in the number of doctor’s in Texas since 2003, or twice the population increase.
  • Texas factory orders up in May.
  • California’s pension crisis continues to fester, and Democrats appear to be unwilling to grapple with the issue. (And here’s more on the pension bomb from Walter Russell Mead.)
  • Gary Farmer, head of the Austin Economic Development Corp. tells California audience exactly how Austin lures business from their state. “The key reason for the state’s success in luring business from other locations is a better political and regulatory climate, he added. Texas has a corporate tax of 1 percent on adjusted gross receipts, while California’s is 8.84 percent of income. Texas has no personal income tax while California’s is 9.3 percent.”
  • Finally, speaking of California transplants, In-and-Out Burger is headed to Round Rock.