Charlie Munger says California, Connecticut have been 'stupid' for driving rich people away [CNBC]
Comcast Corporation - Class A (CMCSA)
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Source: CNBC
Charlie Munger says California, Connecticut have been 'stupid' for driving rich people away Lacy O'Toole | CNBC Charlie Munger Warren Buffett "It's been serious. Driving the rich people out is pretty dumb if you're a state or a city," Munger told CNBC's Becky Quick Munger was answering a broader question, in the wake of Amazon In Connecticut, "they've driven out all the rich people. California is doing the same thing. I know a lot of rich people who have left California," Munger added. "I think it's really stupid for a state to drive the rich people out. "They are old, they keep your hospitals busy, they don't burden your schools, police departments or prisons. Who wouldn't want rich people?" California and Connecticut have two of the highest tax burdens in the country, according to WalletHub Recently, some lawmakers have been pushing for higher taxes on the wealthy, especially Rep. Alexandria Ocasio-Cortez, D-N.Y. Ocasio-Cortez has proposed a 70 percent marginal tax on incomes over $
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