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Elon Musk moves to Texas

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Re: Elon Musk moves to Texas

#31

Post by bitxbitxbitcoin »

bzb6 wrote: post #3
cft wrote: post #2

Historical tweet from a CA Assembly Member from Southern California: https://twitter.com/LorenaSGonzalez/status/12592878791775313...

Great contribution. By the way I’ll never understand people who are proud of their Hispanic heritage but then can’t be arsed to write their own names with the proper accents.

I want to point out that she mentions Latinos, not Hispanics.

Latinos are people who hail from Latin America - the kind of people that had Hispanic last names forced on them at some point in history.

Makes sense to me why they can't be arsed to write their own names with "proper" accents.

Re: Elon Musk moves to Texas

#32

Post by [deleted] »

cumwolf wrote: post #20
jowday wrote: post #14

Isn't the actual listed location of residence more a formality for a billionaire like Musk? I presume he'll still rent residences in LA and the Bay Area considering he'll be back and forth for business related to Tesla and SpaceX. This seems like he's renting a place in Texas and making a big deal out of 'moving there' to make a point about California's regulatory environment.

Yeah I think this is just a ruse for attention but what do i know

[deleted]

Re: Elon Musk moves to Texas

#33

Post by hirundo »

nemothekid wrote: post #16
bzb6 wrote: post #10

Earlier quoted context omitted.

Because accents are part of your language and your language is an integral part of your heritage.

I don’t think the a European language is particularly important in the heritage of those from Latin America

Latin is a European language.

Re: Elon Musk moves to Texas

#34

Post by SEJeff »

ashtonkem wrote: post #25
jowday wrote: post #14

Isn't the actual listed location of residence more a formality for a billionaire like Musk? I presume he'll still rent residences in LA and the Bay Area considering he'll be back and forth for business related to Tesla and SpaceX. This seems like he's renting a place in Texas and making a big deal out of 'moving there' to make a point about California's regulatory environment.

I have no direct experience in this, but an acquaintance of ours whose startup exited successfully is similarly leaving CA for tax reasons. My light understanding is that CA has some pretty tight rules around how often you can work in CA before you automatically become a resident for the purposes of taxes. If they find out that you’ve worked in CA too much I presume they’ll try and tax your yearly income.

NY has been doing this for decades.

Re: Elon Musk moves to Texas

#35

Post by cma »

zaroth wrote: post #6

California is actively looking for ways to extract more money from Elon. It likely posed an appreciable risk to his business ventures that CA at some point will try to tax unrecognized capital gains, which would require him to liquidate shares to pay the tax. Basically akin to a hostile government takeover. If CA were to aggressively pursue such a policy, they would likely go after anyone they perceived as fleeing ju…

How much in subsidies did he get from California?

Re: Elon Musk moves to Texas

#36

Post by SEJeff »

cft wrote: post #2

Historical tweet from a CA Assembly Member from Southern California: https://twitter.com/LorenaSGonzalez/status/12592878791775313...

It was a good comment, but should have some context wrt the tweet, otherwise people will assume you're echoing the sentiment. Politicians like that are going to be really bad for California in the long run. California is already one of the more expensive places to own and operate a business, but when you have politicians who are outright anti-business, it doesn't bode well for new investment.

Re: Elon Musk moves to Texas

#37

Post by epa »

nickthemagicman wrote: post #27
zaroth wrote: post #6

California is actively looking for ways to extract more money from Elon. It likely posed an appreciable risk to his business ventures that CA at some point will try to tax unrecognized capital gains, which would require him to liquidate shares to pay the tax. Basically akin to a hostile government takeover. If CA were to aggressively pursue such a policy, they would likely go after anyone they perceived as fleeing ju…

What are unrecognized capital gains?

Stock that has gone up in value for which you have not yet sold.

Re: Elon Musk moves to Texas

#38

Post by ls612 »

nickthemagicman wrote: post #27
zaroth wrote: post #6

California is actively looking for ways to extract more money from Elon. It likely posed an appreciable risk to his business ventures that CA at some point will try to tax unrecognized capital gains, which would require him to liquidate shares to pay the tax. Basically akin to a hostile government takeover. If CA were to aggressively pursue such a policy, they would likely go after anyone they perceived as fleeing ju…

What are unrecognized capital gains?

He means unrealized capital gains, those are gains on stock you have bought and are holding, but have not sold yet.

Re: Elon Musk moves to Texas

#39

Post by tw04 »

Shocking to see someone anti-union trying to flee a state that actually protects workers rights:

https://www.vox.com/identities/2019/9/30/20891314/elon-musk-...

While I admire Elon's vision, I'm not a huge fan of how he's going about it. Kind of seems like he views other human beings as tools to be used and discarded when they've outlived their usefulness. You can see it when he makes comments about things like the US being "entitled" - yes Elon, US workers expect to be treated like humans... we shouldn't be striving to recreate the slave labor conditions of the industrial revolution...

https://www.cnbc.com/2020/07/31/tesla-ceo-elon-musk-china-ro...

Re: Elon Musk moves to Texas

#40

Post by nickthemagicman »

SEJeff wrote: post #18

This article conveniently leaves the fact that he'll pay millions more in taxes in California due to TX not having any income tax until the very end. Also, his two biggest current projects (Giga Texas and Starship) are currently in Texas. This makes a lot of sense from a business standpoint and will just continue the flight from California. I suspect that once they have the Giga Texas built and delivering vehicles th…

The article does mention that there's no personal income taxes in TX.
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