I have to vent, just real quick… A client just left my office… This man spent his entire working life here in California… He amassed a great sum of money in his tax-deferred retirement plan and will be taking a sizable monthly distribution beginning next month, after he relocates to Texas… Texas!! Where there’s no state income tax!!

He made a ton of money right here in California, and that’s the thanks we get!! The ingrate is emigrating to Texas!!

I wonder how many x-Californians are enjoying richer lives in no-tax states, and who are yet appalled by Mr. Saverin’s move to Singapore? I’d bet quite a few… And I wonder how many still-Californians would condemn Mr. Saverin’s move, but would totally condone my client’s? I’d bet quite a few…

Note: My client loves to play golf and will have substantially more net income to spend on his Callaway (a California employer) supplies… But better yet, and more certain, Mr. Saverin will have 600 million more claims against U.S. products and services… I.e., the money will indeed find its way back to the U.S. private sector (or, alas, I guess it could buy U.S. treasury bonds), it has to…

Ironically, therefore, Mr. Saverin turns out to be a true benefactor to the U.S. economy; not only by his contribution to Facebook, but by the 600 million U.S. dollars that will ultimately find their way home (let’s hope to the private sector)…