Millionaires Fleeing New York and LA

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Session 5

Session 5

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Taxes are too high in those States, so they are moving on..


Elon Musk has decided to change the tax domicile of SpaceX and Neuralink from Delaware to Texas, while Jeff Bezos did the same by moving from Seattle to Miami, where in the first quarter of 2024 alone he would have already saved $300 million, according to Fortune
 
Typical - reap what the sew then move out because of it only to further their corruption. The pattern of America and the world for that matter.

Why Florida?? One guess and it's not the weather.
 
Where I live in the Berkshires has long been an area full of “second homes” for New York City people. We used to call them “weekenders” because we only saw them on weekends during ski season or a big show at Tanglewood.

Once Covid hit we transitioned into more of a bedroom community for them to live here and work remotely. Houses were bought up left and right, often with cash at much higher than asking price because their city salaries are huge compared to what us “locals” make.

It actually created quite a big mess. My house is 70 years old, yet it has tripled in “value” since just 2020. Unfortunately it’s the same old crappy house because I can’t afford to gut it and renovate like wealthy people buying up the neighborhood.

I think long term it will be ok. Our town is putting a lot of thought and resources into affordable housing now because our workforce has been decimated. With any luck the town will put all this extra tax money to good use, but we will have to wait and see. It’s all a bit hairy at the moment though
 
Well, speaking as a proud Californian, we are all the better for Musk taking his ignorance and toxicity elsewhere, and if other people are leaving solely because they don't want to contribute their fair share to the commons then I doubt we are going to miss that type of person much. They'll get wherever they are going and have to deal with the situations there, and there is no panacea - there are issues everywhere. You may also be surprised how many people do this trick and end up back here in CA due to lifestyle/politics/the REAL cost of living in those places, just to name a few.
 
Discussions on Politics,Religion never go any where and always end badly. And you all deserve a big kudos for keepin all the things going on in politics now days to yourselves. I got my views on these such matters but i keep um off here. People are strongly opininated myself inclued but I KEEP IT OFF HERE.
 
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