Leaders of Bankrupt State California Claim They Will Develop a Detailed Plan for Reparations for blacks under a New Law Signed on Wednesday by Gov. Gavin Newsom

By A Texas Reader

Wed, Sep 30, 2020 10:20 p.m.

California will develop a detailed plan for reparations under a new law signed on Wednesday by Gov. Gavin Newsom, making it the first state to mandate a study of how it can make amends for its role in the oppression of black people.

https://ktla.com/news/california/california-to-assign-task-force-to-consider-paying-reparations-for-slavery/

California task force will consider paying reparations for slavery under bill signed by Gov. Newsom California will develop a detailed plan for reparations under a new law signed on Wednesday by Gov. Gavin Newsom, making it the first state to mandate a study of how it can make amends for its role… ktla.com

ATR: Thankfully, California is technically insolvent.

At least its pension fund is insolvent.  https://www.forbes.com/sites/ebauer/2020/06/15/heads-they-win-tails-taxpayers-lose-calpers-doubles-down-on-risky-investments/#4702bb0a2ef5

Heads They Win, Tails Taxpayers Lose: Calpers Doubles Down On Risky Investments - Forbes "The solution is based on 'better assets' and 'more assets' and will capitalize on Calpers's advantages: a long-term investment horizon and access to private asset classes. www.forbes.com

https://www.armstrongeconomics.com/world-news/pension-crisis/calpers-on-the-brink-of-insolvency/

CalPERS on the Brink of Insolvency | Armstrong Economics The largest public pension fund in the United States is the California Public Employees Retirement System (CalPERS) for civil servants. California is in a state of very serious insolvency. www.armstrongeconomics.com

ATR: Oh, and capital is like water.

Both take the path of least resistance.

That's why so many businesses and Californians are fleeing California for Texas.

https://www.thecentersquare.com/texas/texas-no-1-destination-for-companies-leaving-california-for-last-12-years/article_8e2f83cc-161d-11ea-8869-576046d73239.html

Texas No.1 destination for companies leaving California for last 12 years | Texas | thecentersquare.com The Wall Street Journal explains the difference between doing business in California and Texas. "The Lone Star State imposes a 0.75% franchise tax on business margins (total revenue minus compensation), which is substantially less than the corporate tax rates in California (8.84%) and Nebraska (7.81%), where TD Ameritrade is currently headquartered," the Wall Street Journal reported."The city ... www.thecentersquare.com

https://www.wfaa.com/article/money/business/study-660-companies-moving-facilities-out-of-california-with-many-bound-for-dfw/287-fe6a0910-1a9a-4c1b-847b-b13224ba9fb6#:~:text=California%20companies%20large%2C%20midsize%20and%20small%20are%20shifting,access%20to%20an%20international%20airport%20and%20other%20factors.

Study: 660 companies moving facilities out of California with man | wfaa.com One example he cited is a state law passed in September that requires companies to hire workers as employees, not independent contractors, with some exceptions. www.wfaa.com

Some 660 companies moved 765 facilities out of California in the past two years, and Dallas-Fort Worth has been the beneficiary of many of the relocations, according to a new report.

The departures from the Golden State between January 2018 and now involve corporate headquarters, manufacturing facilities, data centers, research hubs, software and engineering centers and a few warehouses, according to business relocation expert Joe Vranich, president of Spectrum Location Services.