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A lot of people learned their lesson about moving to avoid income tax in the past 3 years. Surprise, a lot of rich people and businesses ended up moving back to the states they shit on a couple years earlier. Including Elon Musk who makes waaaaay more than $1m
He may do that but from the leaked tax returns he paid about 24% on $1.2 billion over a four year period.
However, it’s super dumb that his tax rate on 1.2bill is the same as someone making $80k.
Is there actual evidence of this? I think FL and TX are still large net population gainers over the past few years, while MA, NY, CA all lost population. I have no idea about the net moves by income bracket though
Tesla moving back - https://www.forbes.com/sites/brianbushard/2023/02/22/tesla-engineering-headquarters-will-open-in-california-musk-announces/
More people moving to CA than leaving - https://www.cbsnews.com/sacramento/news/mass-exodus-recent-data-shows-more-people-moving-to-california/
2/3 of female employees would not relocate to Texas for work - https://commercialobserver.com/2021/09/two-thirds-of-employees-wont-move-to-texas-after-abortion-law-survey/
This article also talks about several large companies paying to relocate employees out of Texas ^
You have to keep in mind, the whole abortion thing is fairly new, but quickly taking over red states. Add that with your comp being lower in red states and people learned a lesson the hard way.
Rich people like money, but they like having rights and not freezing to death without electricity more. Ask Ted Cruz lmao
Interesting. Republicans have successfully hurt their economies with abortion.
I worked down in Texas a couple years before the pandemic. I'm very glad to have moved back to Missouri. Which should say a lot.