341–350 of 622 posts
The real state I wonder about is Illinois. Who the hell wants to live in Illinois? Both the state income tax and property tax is absurd and you can easily cross state lines to somewhere cheaper with pretty much the same scenery.
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Tesla is building factories in Texas. Long term Texas makes more sense for manufacturing as there are established supply chains there.
You also probably have tons of cheap flat land that is ideal for manufacturing? So that would seem to make sense.
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Growth at geriatric tech companies like IBM, HP, Oracle, etc. is largely inorganic, driven by well-negotiated acquisitions of smaller B2B software companies. It takes MBAs to do this sort of work, and while it isn't for me, I don't think it's the worst business model out there.
Why does it take an MBA to do that work?
Traditionally this stuff has meant race to the bottom in terms of taxes and regulations. That is terrible. But if it instead helps wake up California to actually rezone, densify, remove prop 13, and improve social services, that could be quite good.
Prop 13 is one of the few reasons many could consider staying in California, vs having to pay property taxes on the bubble prices here. Property taxes do go up at what amounts to reasonable inflation numbers.
It's pretty rare even in extremely high property tax counties like Cook and DuPage here in Illinois.
The real state I wonder about is Illinois. Who the hell wants to live in Illinois? Both the state income tax and property tax is absurd and you can easily cross state lines to somewhere cheaper with pretty much the same scenery.
Have you never been to Chicago? Pretty nice town.
Traditionally this stuff has meant race to the bottom in terms of taxes and regulations. That is terrible. But if it instead helps wake up California to actually rezone, densify, remove prop 13, and improve social services, that could be quite good.
But there is no race since Texas hasn't made any changes to accommodate these companies
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The California budget is public information. Proposition 13 means you as a new arrival were subsidizing property owners who were there before you, and the broken initiative process means that there's billions from the general fund tied up to pay bonds for pet projects of swindlers who are clever enough to put their projects on the ballot instead of trying to get them past the legislature.
You make it sound like newcomers came and built a viable city for existing Californians. It’s not like California was a wasteland before ‘new comers’ arrived. ‘New comers’ have always been entering California. The new comers came because California already had an ecosystem and infrastructure in place built ready made for them to thrive. New comers are not subsidizing existing property owners. They ..and their childre…
It is unbelievable to see this actually written down, and in an argument asserting that people from generations ago built an ecosystem for what is currently an exploding knowledge based economy, no less.
> the cost of housing is one-third of Bay Area prices and the absence of a state personal income tax amounts to a 13.3% raise for top earners. This point always makes me laugh because anyone who lives in affluent TX neighborhoods knows your property tax is _enormous_ and usually makes up for a majority of state income tax you save. They still need to pay for roads and schools, right?
And we do, with far less taxes. $57.38 billion in revenue for TX at 29M population, $100 billion in revenue for CA at 39.5 million population.
It's $1979 per person in TX, and $2531 in CA. Or about 75%.