Capital flows and move. That's real. It's not imagined. It's very, very real. So we have a progressive tax structure, the most progressive in the country, by the way. States like Texas and Florida, the most regressive tax structures, they tax their lowest wage earners more than we tax our highest wage earners. They are the high tax states. We have the highest tax rate for the 1%, but for working folks and middle class, it's a very different tax structure. (26:58–27:06)
CLAIM
Asserts that Texas and Florida have the most regressive tax structures, taxing low wage earners more than California taxes high wage earners.
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