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Elon Musk moves to Texas

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Re: Elon Musk moves to Texas

#111

Post by busterarm »

gnusty_gnurc wrote: post #108
boringg wrote: post #73

Earlier quoted context omitted.

Yes, most places in the country have a massive deficit this year because states are spending money to protect their citizens and stimulate the economy. So this year is an odd year for most states... don't try and single out California as this bad actor that can't manage its finances. That narrative is misleading.

> Yes, most places in the country have a massive deficit this year because states are spending money to protect their citizens and stimulate the economy. This is Stockholm syndrome. Are citizens being protected? Because last I checked, the "smart" people have largely outlawed working, destroyed any semblance of normal life, the average person is $5k behind on rent, and all the old people died. The federal government…

Right!

All of these state budgets depend on projected tax revenue which isn't coming.

People aren't working. People aren't having kids. People aren't staying in the state.

The cuts MUST be massive.

Re: Elon Musk moves to Texas

#112

Post by buzzerbetrayed »

ouid wrote: post #43
ekianjo wrote: post #9

Earlier quoted context omitted.

When you mention excessive regulations you might want to look at all regulations, not just cherry pick one of them to make a point.

You know what? I think that might be the parent comment's point.

Then perhaps they should take their own advice

Re: Elon Musk moves to Texas

#113

Post by tidepod12 »

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.

The distinction CA (and other states) make is between being a "resident", "part-time resident", or "nonresident". If you are classified as a resident or a part-time resident, you pay CA income tax on all of your income, even if it was earned from work that happened outside of CA. If you are a nonresident, you pay CA taxes only on the income that was earned from work happening in CA.

It's possible this move might help Musk become a "nonresident" and pay less CA taxes, but I kinda doubt it. The classification of type of resident is based on more than just "official address of your house". It also includes things like where your work is, what banks you use, what doctors you go to, and even what social activities you take part in.

This is pretty common in many states, btw. One time I had to file a tax return to a small city in Michigan because I had a 4-hour work meeting there and they taxed it.

Re: Elon Musk moves to Texas

#114

Post by nickthemagicman »

boringg wrote: post #95

It's unfortunate that Elon is leaving California given that the state has really lifted him to the pedestal he is on - through the talent network (highly talented employees, VCs), and the progressive policies that CA built for clean technology (Solar, EVs, Energy Storage). That was paid for on the backs of the people. Funny how short his memory is. Elon is a talented man - I absolutely respect what he's done. However…

Things are very different in Silicon Valley and in California now from the 90's when Musk was on the team that started Paypal.

I think he might not want to be in the NEW California and Silicon Valley.

I could spend a lot of time doing research and trying to figure out why... but things have changed somehow.

I think the mass exodus of people from California kind of supports his decision.

I think California has a negative growth rate last time I checked.

Re: Elon Musk moves to Texas

#115

Post by carapace »

doyouevensunbro wrote: post #66

Musk made it clear what he thought about worker’s rights when he forced the Tesla plant open during the pandemic: https://www.bbc.com/news/technology-52627744 The modern day robber barons will never care about the working class. It is up to us to look out for ourselves.

(The irony of linking to that through Google AMP!)

Re: Elon Musk moves to Texas

#116

Post by medium_burrito »

smabie wrote: post #83
tw04 wrote: post #39

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 U…

No, I really do think people in the US are massively entitled. I've lived in 3rd world countries and the standard of living even for a minimum wage worker is so beyond that of a poor person in a third world country (like Tanzania or Kenya, for example). People in the US are lucky , and yet, all everyone does is complain and bitch all the time. I think most Americans lack perspective and are ungrateful for what they h…

Porque no los dos? (in keeping with the discussion about latinos above)

I posit that both are true: 1) US workers have shitty protections 2) Americans are ungrateful, lack perspective and are entitled. They don't understand when a pack of immigrants from wherever smuggle themselves in a container or coyote or what-have-you, and live for years together 10 people to an apartment to save up a little money to send home.

Re: Elon Musk moves to Texas

#117

Post by nemothekid »

jnwatson wrote: post #41
nemothekid wrote: post #16

Earlier quoted context omitted.

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

Huh? Where did Spanish come from?

From Spain, the country in Europe? Mexicans weren't speaking Spanish before Spanish colonization.

Re: Elon Musk moves to Texas

#118

Post by tidepod12 »

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…

Simply moving his official address from CA to TX does not mean he won't have to pay CA income taxes. CA still taxes income from work in CA even if you don't live there, and for part-time residents, CA still taxes all income even if the work happened in Texas.

Musk surely has some good accountants to figure all this out, but it's not as clear cut as your first sentence makes it sound.

Re: Elon Musk moves to Texas

#119

Post by nemothekid »

hirundo wrote: post #33
nemothekid wrote: post #16

Earlier quoted context omitted.

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

Latin is a European language.

Latin America refers to the countries in Central and and South American that were colonized by Spain and Portugal. It has nothing to do with the Latin language.

Re: Elon Musk moves to Texas

#120

Post by trackone »

rootsudo wrote: post #77
chess_buster wrote: post #58

Once Volkswagen gets its Modulare Elektroauto Baukasten rolling at full production speed it's game over for Tesla anyhow.

Isn't Volkswagen already game over? Past decade they've shown a decrease in overall sales in USA.

According to wikipedia, 2010 American sales were 256k, 2019 sales were 363k. The high was in 2012 with 438k. There was a dip down to 322k in 2016 (for obvious reasons I would think) and has been going up since. This doesn't seem like game over.

https://en.wikipedia.org/wiki/Volkswagen_Group_of_America

Just looking at the VW sales, not Audi

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