Torrance Mayor Frank Scotto blames the state of California for Toyota Motor's decision to relocate its North American headquarters from the city to Plano, Texas.100,000 jobs lost. Who knows how much tax revenue is leaving for Texas along with those jobs? How many distributors and suppliers are either out of work, significantly downsized, or outright gone, now, that the car company is no longer in CA?
"The state of California lost Toyota," Scotto said on "Power Lunch" Tuesday.
He pointed to a number of issues in the Golden State that negatively affect companies' bottom line: tax structure, workers' compensation and liability insurance.
What is interesting, of course, is that the mayor of Torrance is saying this. Texas is listed as the second-best state in which to do business. California is 47th, with only WV, RI, and HI worse for businesses. Taxes, wages, and insurance are all too high - and it's a question of why businesses are leaving?
Of course, the left will point to the tax breaks offered to companies that move as some sort of sinister secret plot to lure companies away. Um, dolts? There's nothing secret about that process. State A wants to take a business away from State B, so State A offers better business insurance. That's pretty much how things work on planet earth...
Would be nice if you'd at least visit every once in a while...
That is all.