High value retirees are going to bail us out of our overpriced homes in California?
Oops, guess not now that we have budget problems, and taxes are only likely to get worse.
I thought there was only “Taxachussets”, but now it seems that California is probably the worst place to retire financially. I guess paradise costs, right?
The most expensive, and therefore worst, state for retirees is California. Seniors in the highest tax bracket not only pay a whopping 10.55 percent income tax rate, but they also pay an 8.25 percent sales tax each time they go shopping. For a few people, though, the draw of Napa Valley, Hollywood celebrity sightings, and Yosemite might be worth the cost.
True, just be rich if you come here.