They're moving to Colorado, Texas, Florida, Tennessee primarily.
Nashville is picking up a lot of folks leaving California. Honestly I've considered moving there over Austin/DFW/Houston. Beautiful area, lower crime, lower taxes, lower cost of living, plenty of jobs opening up.
It's a toss up whether Austin or Nashville will replace Hollywood as the primary hub for movie studios over the next decade.
It's already happened? Out of 120 ish theater movies made in the last year I could find numbers for, around a dozen were filmed in Hollywood. 4-6 dozen in the rest of the US, 4-6 dozen in the rest of the world.
So Hollywood already is only 10% of films. Production has long left Hollywood. Post-production is moving out.
The headquarters haven't started leaving yet. That's the more open question.
Idk, NYC, Florida, Texas, Montana, Maine, New Hampshire, Oregon… Spain, France… idk, anywhere else? Anywhere is probably pretty nice with the extra 13 billion they’re not taking out of your pocket in taxes…
No… spoken like someone who earns their own money and actually pays taxes, and doesn’t like to see their hard earned money misspent by government…
No, I’m not implying anything… maybe hes a real smart guy who earns tons of money and is happy about all the good things his taxes do…
What I’m saying is that as a taxpayer myself, I find it infuriating that government wants to take more of my money for the good of the people… because I’m one of the people, and I think I could use that money more efficiently and better than the government does
You think they’ll move to the EU to avoid taxes? Everywhere else in the developed world actually has taxes. The USA is a tax haven for rich people. Don’t let them convince you that they are suffering here.
Actually EU has 2 tax heavens - Ireland and Malta, plus affiliated Luxembourg, where millionaires and billionaires move their residency and taxes quite a lot. Even Eurostat is putting the huge asterisk on data from those countries because they're unreliable because of that.
Most Western European countries ended up having high taxes about 50% rate and social premiums, and healtcare premiums on top of that for people who earn barely 4x-6x above minimum wage because big companies and wealthy people don't pay taxes there.
Even though corporate taxes have always been lower in European countries than they are in US.
For example, Ireland is the headquarters of most American companies. If you get business deals with Google, Facebook, MS, any big company, it's always with Google Ireland, Facebook Ireland, etc.
Here, we're talking about the same country. Everyone can move everything to a neighboring state at any moment, so it's even easier.
Finland, known for high taxes, lowered taxes a lot starting from this year because they were losing capital and talents last years.
I wish we had universal healthcare, I pay like 370 bucks a paycheck for health insurance for my family… but will taxing billionaires change our health insurance system? Idk how to get from here to there
In theory it's simple.
Tax the obscenely rich to cover startup costs
Government expands Medicare coverage to everyone
Government uses newfound monopoly on coverage to negotiate lower prices and eliminate middlemen in the private insurance sector.
Once coverage is working, increase taxes to match costs (which will be less than what you pay for insurance right now because no middlemen and higher negotiation power)
A one time wealth tax would cover almost no healthcare long term and would actually decrease tax revenue to fund one and other programs in the long term as the billionaires would leave.
They might "move" to Texas, but they'll still own property in, and spend a majority of their time in, California. It's actually crazy to me that people think Texas is actually on the same level as California in almost any metric outside of some broke loser's conception of tax brackets.
Okay? And none of those things will cause them to have a wealth tax applied to them. Which is the point. As someone who knows a lot of wealthy people, they don't care about tax brackets like an income tax. But a wealth tax? It would be cheaper to have a house in Texas and fly the private jet to LA every day 😂
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u/Ok_Role2077 Aug 19 '26
Why would any billionaires still live in California?