"Let me come back to something more parochial, which is how our state fits into all of that and how you who are entrepreneurs and investors, financiers, faculty members and others who are associated with the process of innovation fit into, if you will, "our state." I am convinced that this is an extraordinarily attractive place to grow and develop ideas and technology. That this state has many of the features which are unique in our nation and perhaps in our world - the clusters of technology and capability that have assembled here -- means that enterprises that begin here begin with a natural advantage. We have also thought to keep the attractiveness of the, if you will, 'the Petri dish" here for technology innovation very robust and vital. There are some who would suggest we could solve our problems best by, for instance, raising our tax rates and business payroll taxes and so forth. I am afraid of going down the path California is going down. I am afraid that going to an 11% income tax will scare away innovation and scare away jobs. California is a beautiful place. We don't have their weather to compete with, so we have to compete on other bases. For us it's a place where that tax burden is not overwhelming with a 5.3% tax rate - they're going up to an 11% tax rate, with over 9% today. We have to make sure this is a place as attractive for people to come and grow their enterprise - our regulatory structure."
Comments (0)
You don't have permission to comment on this page.