Twitter CEO Jack Dorsey may regret cancelling his planned move to Africa this year. Democrats in Sacramento are proposing to raise the state’s already punitive 13.3% top income tax rate to 16.8%—retroactive to January of this year.

Now’s a good time for California high-earners to take their money and run.

The Assembly bill would raise the top rate to 14.3% for households making more than $1 million, 16.3% on income above $2 million and 16.8% above $5 million. The combined federal-California top marginal tax rate would rise…

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