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4 Bumps

America's socialist experiment failure?

It's probably going to be ok though, the feds will bail them out at the rest of the countries expense.

NEW YORK (CNNMoney) -- Buffeted by high taxes, strict regulations and uncertain state budgets, a growing number of California companies are seeking friendlier business environments outside of the Golden State.

And governors around the country, smelling blood in the water, have stepped up their courtship of California companies. Officials in states like Florida, Texas, Arizona and Utah are telling California firms how business-friendly they are in comparison.

Companies are "disinvesting" in California at a rate five times greater than just two years ago, said Joseph Vranich, a business relocation expert based in Irvine. This includes leaving altogether, establishing divisions elsewhere or opting not to set up shop in California.

"There is a feeling that the state is not stable," Vranich said. "Sacramento can't get its act together...and that includes the governor, legislators and regulatory agencies that are running wild."

The state has been ranked by Chief Executive magazine as the worst place to do business for seven years.

Answer Question

Asked by Carpy at 8:20 AM on Jul. 13, 2011 in Politics & Current Events

Level 39 (114,053 Credits)
Answers (29)
  • California isn't socialist.

    Do you know what socialist means?

    Answer by UpSheRises at 8:28 AM on Jul. 13, 2011

  • California is definately socialist and they are broke. I wouldn't live there or do business there the Progressives have destroyed the state just like they want to destroy the rest of the country. Destroy and then take over is the end game.

    Answer by Anonymous at 9:03 AM on Jul. 13, 2011

  • I would say a huge part of CA is socialist - by def. I hope those aren't union jobs. PBO's admin. won't allow relocation


    Answer by jesse123456 at 9:19 AM on Jul. 13, 2011

  • So, what makes California socialist? I don't quite understand how businesses leaving tie into it being a socialistic state. I am probably just missing something with my sleep deprived mind!!!

    Answer by wendydays at 9:20 AM on Jul. 13, 2011

  • I get a thumbs down for asking a sincere question??? Sheesh, a little brutal, eh?

    Answer by wendydays at 10:03 AM on Jul. 13, 2011

  • wendydays, I agree about the down vote. I don't think the leaving is what makes CA socialist. It is the climate of the business community, the state regulations for businesses, and the social views of so many of the citizens that makes CA socialist. Case in point: a whole valley was put out of business to 'save' a 2 inch fish. The fish was more important than the people whose crops dried up because they could no longer irrigate. That is the socialist view that makes CA more socialist. Business has to be good for the community is a more socialist view.

    Answer by jesse123456 at 10:21 AM on Jul. 13, 2011

  • Not surprising. This has been happening for a while though. Longer than 7 years I believe. Some companies saw the writing on the while before that. A good friend of mine that lived in CA when I left had the choice to keep her job and move to Texas where the company was relocating or to take a severance package to stay till the end when they were closing shop in CA. This was probably about 10 years ago. She didn't know anyone in TX and had planned on moving to IL so she took the package and stayed until the bitter end. Once they rolled up shop she packed up and moved to IL.


    Answer by QuinnMae at 10:34 AM on Jul. 13, 2011

  • I am not shocked businesses are leaving CA..they are leaving OR too. Business can only take so much tax and regulation...why stay when it can operate in a more favorable area?

    Cheyenne, WY is expecting explosive growth..30,000 to 40,000 people in the next 5 years...amazing for a metro area with about 63,000 people now. Of course WY is much more favorable..amazing how that fosters growth.

    Answer by yourspecialkid at 11:15 AM on Jul. 13, 2011

  • Still don't see how this can be tied into Socialism. Socialism is just a buzz word ....

    Answer by minnesotanice at 11:21 AM on Jul. 13, 2011

  • LOL Cali is to far gone. But, there is hope for the few who realize it. As I said in another question. They can always move to Texas

    Answer by itsmesteph11 at 11:43 AM on Jul. 13, 2011

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