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Elon Musk moves to Texas

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Re: Elon Musk moves to Texas

#581

Post by njarboe »

ghaff wrote: post #363
toast0 wrote: post #284

Earlier quoted context omitted.

If you have RSUs that were in while you were working in California or a resident of California, the Franchise Tax Board claims a portion of the income as California source when (if) they finally vest. That could be years later, when you're no longer a resident. If you move from California to another country, and are subject to US Federal Income tax, and don't qualify for an exemption, the Franchise Tax Board still co…

In this case, one also assumes that Musk will continue to spend a fair bit of time in the state. Low-profile people can usually get off with just paying taxes in their home state even though they spend a lot of their time at company offices, conferences, etc. elsewhere. But presumably there is some threshold beyond which you're supposed to be filing taxes in other locales.

New York city has its own income tax rate of 3.9% for high earners. This can be quite a bit of money for hedge fund managers/owners. I've read that some of them live outside NYC to avoid the tax but need to hire a full time person to document and make sure they are not counted as a NYC resident by the city. You can only spend so many nights in NYC and not be counted as a resident, show proof of you being somewhere else, etc.

Income taxes has so many bad consequences. It would be great to ban it and replace it with land value taxes.

Re: Elon Musk moves to Texas

#582

Post by saberience »

rendang wrote: post #531
AnotherGoodName wrote: post #515

Earlier quoted context omitted.

We have a new lines drawn on acceptance for behavior towards sexuality, religion, women's rights and race since the 90's. The line has moved. The 90's was 30 years ago. I don't know your exact situation at all and criticism of you may indeed have been unfair. But for fucks sake don't try to make a case that you're not far-right by looking to the behavior of people in the past. That indicates strongly you may indeed h…

A belief that morality improves over time as you describe, aka whiggism/meliorism, is itself a kind of religious tenet of a particular set of worldviews (often called left, progressive etc). So I don't think one can say that rejecting that tenet places one outside of the Overton window of acceptability, while at the same time claiming tolerance of a wide range of viewpoints.

Morality has improved over time though and is still improving. I mean, if you look at how gay people were still treated in the 90s, it was terrible. Most gay people were afraid to be publicly "out" and forget about any sort of trans rights, if you were trans in the 90s you just never transitioned or basically told nobody.

Do you think going back to a world where gay people were often attacked and beaten in public is a good idea? Where women were regularly subjected to sexual assault at work? My mum who worked as a teacher in the 80s and 90s told me she was regularly slapped on the ass by male teachers at work. Is this ok? Would you be ok with your daughters getting this treatment?

Re: Elon Musk moves to Texas

#583

Post by rconti »

techsupporter wrote: post #220
S_A_P wrote: post #158

Pretty interesting to see this move makes people so salty. There does seem to be a trend of people fleeing California, I dont know enough about the situation out there to comment on whether or not its valid. I suspect something must be going on for several high profile folks moving out. And before you bash Texas, its not perfect. But its pretty diverse, and it seems that folks with opposing viewpoints can still coexi…

My birth certificate says "Texas" across the top and people have been "fleeing California" to Texas for as long as I've been alive. There's nothing special about Musk; he just happens to be high-profile about it and managed to extract more from California before decamping to a "cheap" state than several of those who came before him. I disagree with your assessment that Texas has wide acceptance for opposing viewpoint…

This. I grew up in Seattle, and people "fleeing California" has been a meme since at least the early 80s, but no doubt, for many decades before that.

Notice he's "fleeing" after he made his billions.

Re: Elon Musk moves to Texas

#584

Post by woah »

fortran77 wrote: post #577
woah wrote: post #572

Earlier quoted context omitted.

It's been a massive windfall to people who have been homeowners for 40 years in California. High rents due to the fact that you're not allowed to build new housing, high property taxes paid by new residents, while old residents pay nothing, high income and sales taxes to paper over the gap in the budget left by the lack of property tax paid by longtime residents. The whole system has been optimized to milk as much mo…

> while old residents pay nothing This is patently false. Property taxes can and do raise 2%/year. California does need to build new housing.

You are quite simply wrong. Here is a map showing how next door neighbors frequently have a 10x difference in property taxes paid on equivalent dwellings: https://www.kron4.com/news/bay-area/map-bay-area-property-ta...

Re: Elon Musk moves to Texas

#585

Post by logicslave »

Izikiel43 wrote: post #436
logicslave wrote: post #397

Earlier quoted context omitted.

"Elon has built incredible companies doing incredible things. He's also made some stupid comments re: covid." I hope you see theres an issue with statements like this. Its hard for someone to be so competent in terms of founding multiple billion+ companies, and then be completely wrong on covid.

Being a genius in something doesn't make you a genius on everything. https://www.cnn.com/2019/01/13/health/james-watson-honors-st...

I hate to tell you, but if you conceive of multiple billion dollar companies, you have an exceptional grasp on reality. CNN is the thought police.

Re: Elon Musk moves to Texas

#586

Post by rconti »

fortran77 wrote: post #577
woah wrote: post #572

Earlier quoted context omitted.

It's been a massive windfall to people who have been homeowners for 40 years in California. High rents due to the fact that you're not allowed to build new housing, high property taxes paid by new residents, while old residents pay nothing, high income and sales taxes to paper over the gap in the budget left by the lack of property tax paid by longtime residents. The whole system has been optimized to milk as much mo…

> while old residents pay nothing This is patently false. Property taxes can and do raise 2%/year. California does need to build new housing.

Of course it's false. Old residents don't pay "nothing", they pay "next to nothing". Look up any house that changes hands after 40 years. The old owners were paying a tax liability an order of magnitude less than the new one.

Re: Elon Musk moves to Texas

#587

Post by fumar »

tabtab wrote: post #520
manigandham wrote: post #506

Earlier quoted context omitted.

The state has gone downhill on every metric possible. People can't name even 5 things that have improved over the past decade. Taxes, infrastructure, homeless, rent/housing, cost of living, gas, traffic, smog and pollution, crime, illegal immigration, gangs, fires, droughts, private property issues, local govt gridlock and deficiency, and now the weather isn't great either. Unfortunately many of those leaving don't r…

> The state has gone downhill on every metric possible. Mostly because it got more crowded. As a CA resident, if you don't like CA, please DO move out. It will help traffic, for one. If ALL you care about is a big house and taxes, then CA is probably not for you. As soon as you walk outside your TX McMansion, you may realize why CA is so crowded.

I was very close to moving to Austin this winter. I decided to double down in SoCal instead and buy property. I've spent a decent amount of time in Austin for work and have family nearby, but the weather and cultural opportunities won me over in California. I like that I can go to running on beach path, cycle in the mountains, carve canyons on a motorcycle, eat stellar sushi, sit in traffic :(, and walk down any downtown all in one day.

I've been very grateful to have non-extreme weather throughout the year. I am looking outside at a sunny sky right now and I will go walking on a path shortly to clear my mind. For someone with high allergies, I found that I am not allergic to trees, pollen, and grass in LA. I've had several nasal surgeries in the past to fix issues from allergies. I didn't want to risk it in Austin with different plant landscape.

Re: Elon Musk moves to Texas

#588

Post by lwansbrough »

woah wrote: post #572
techsupporter wrote: post #220

Earlier quoted context omitted.

My birth certificate says "Texas" across the top and people have been "fleeing California" to Texas for as long as I've been alive. There's nothing special about Musk; he just happens to be high-profile about it and managed to extract more from California before decamping to a "cheap" state than several of those who came before him. I disagree with your assessment that Texas has wide acceptance for opposing viewpoint…

It's been a massive windfall to people who have been homeowners for 40 years in California. High rents due to the fact that you're not allowed to build new housing, high property taxes paid by new residents, while old residents pay nothing, high income and sales taxes to paper over the gap in the budget left by the lack of property tax paid by longtime residents. The whole system has been optimized to milk as much mo…

If you don’t build luxury housing, affordable housing becomes luxury housing. San Francisco is a perfect example of NIMBY extremism and the damage it does to communities.

Re: Elon Musk moves to Texas

#589

Post by dangjc »

fortran77 wrote: post #577
woah wrote: post #572

Earlier quoted context omitted.

It's been a massive windfall to people who have been homeowners for 40 years in California. High rents due to the fact that you're not allowed to build new housing, high property taxes paid by new residents, while old residents pay nothing, high income and sales taxes to paper over the gap in the budget left by the lack of property tax paid by longtime residents. The whole system has been optimized to milk as much mo…

> while old residents pay nothing This is patently false. Property taxes can and do raise 2%/year. California does need to build new housing.

Many properties I’m looking at are assessed at a value in the $50-200k range but sell around $1mm. Long time residents in such cases Pay less than 1/5 the property taxes new residents pay.

Re: Elon Musk moves to Texas

#590

Post by tekkk »

shortandsweet wrote: post #101

So when someone leaves an area of low tax/education to high tax/education, seeking economic gain, it's called brain drain. What is it called in this case when it's reversed?

Tax dodging? Tax drain?

I don't see what's all this fuss about, it's just simple tax "planning" as exercised by the wealthy. I guess the extra billions will make him happier, but it's weird we get attached to such things as money when you have already amassed it so much it doesn't really make a difference.

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