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Larry Page has moved to Florida

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Re: Larry Page has moved to Florida

#31

Post by zeroonetwothree »

garciasn wrote: post #18
Alupis wrote: post #12

Earlier quoted context omitted.

Every election you have celebrities and wealthy individuals threaten to leave the country, etc. Nearly none of them follow-through, and of the ones that do, many ultimately move back. Page left California specifically because of the so-called "Billionaire Tax", and is taking with him his family (which will inherit his vast riches), his philanthropy, his non-profits, many jobs, taxes and more. The effect will be gener…

Yeah; there's absolutely no way he could possibly support philanthropic efforts in one state from another. Nope; everyone now loses out because of it! There is absolutely 0 reason that someone worth $270 billion needs to worry about the 5% tax. The 5% tax will reduce his estimated worth by $13.5B bringing him to a paltry $256.5B. To put $256.5B in perspective: over two /lifetimes/, he would need to spend around $4.5M…

1. The tax could cause him to sell equity he doesn't want to. It's not like he has $270B in a checking account.

2. If they do it once then why not again next year? Maybe next time it's for only $100 million or $10 million or $1 million. Eventually everyone is paying 5% of their wealth every year. Why not? That's how we got the current income tax.

3. It's the principle. Resisting these efforts sends a signal that they aren't a good idea.

4. Do we really think the money is better off in control of the incompetent CA government than invested in private enterprise or donated to charity? I don't see how it's better for it to line Newsom's Swiss bank account.

Re: Larry Page has moved to Florida

#32

Post by selridge »

snapetom wrote: post #15

This part from Paul Graham on his own move was eye opening: "After we'd been in England for several years, I asked the people who do our taxes to check, and they told me that I actually saved money by moving to England. That's how high California state taxes are already."

Yeah sounds like he was really scrimping.

Re: Larry Page has moved to Florida

#33

Post by 486sx33 »

georgemcbay wrote: post #16
GenerWork wrote: post #3

>"He wasn't just pretending to move to Florida." Do people often pretend that they're going to move? Seems like a weird thing to say.

> Do people often pretend that they're going to move? It isn't unheard of. Adam Carolla has been threatening to move out of California for like at least a decade at this point.

[dead]

Re: Larry Page has moved to Florida

#34

Post by camillomiller »

What a vomit-inducing billionaire fondling. It’s patently and provably false the taxing billionaires will make them flee and therefore society is worse off for that. It’s a disgusting narrative by greedy antisocial people who have lost every and any contact with the meaning of living in society. You wanna make things better for the world? Then fuck your disingenuous startups, pay more taxes. Fucking leeches, each and everyone of these scumbags. PG absolutely included.

Re: Larry Page has moved to Florida

#35

Post by cgio »

Bender wrote: post #7

From elsewhere: Google co-founder Larry Page moved to Florida from California in early 2026, purchasing over $188 million in Miami property. He left California to avoid a proposed 5% state wealth tax targeting billionaires, shifting his primary residence and assets to Florida, which has no state income tax. Makes sense to me. Several businesses and individuals from NYC have also moved to Florida for similar reasons.…

If I were as wealthy as them I would not mind paying a 5% tax after years of tax avoidance. But that’s just one of the many reasons why I am not as wealthy as they are.

Re: Larry Page has moved to Florida

#36

Post by garciasn »

zeroonetwothree wrote: post #31
garciasn wrote: post #18

Earlier quoted context omitted.

Yeah; there's absolutely no way he could possibly support philanthropic efforts in one state from another. Nope; everyone now loses out because of it! There is absolutely 0 reason that someone worth $270 billion needs to worry about the 5% tax. The 5% tax will reduce his estimated worth by $13.5B bringing him to a paltry $256.5B. To put $256.5B in perspective: over two /lifetimes/, he would need to spend around $4.5M…

1. The tax could cause him to sell equity he doesn't want to. It's not like he has $270B in a checking account. 2. If they do it once then why not again next year? Maybe next time it's for only $100 million or $10 million or $1 million. Eventually everyone is paying 5% of their wealth every year. Why not? That's how we got the current income tax. 3. It's the principle. Resisting these efforts sends a signal that they…

It’s supposedly a one-time tax; but, you’re right; who knows what they’ll do.

But his net worth has effectively more than doubled in 1y. I think he’ll be just fine.

Re: Larry Page has moved to Florida

#37

Post by zeroonetwothree »

lapcat wrote: post #11

> it has cost California both Larry's presence and all the tax revenue it made from him. 1. Google itself isn't moving. I don't think Larry is closely involved anymore, and a move out of state seems to prove that. 2. How much tax revenue did California even make from him? If he doesn't sell stock, then he has no capital gains to tax. That's the whole point of the wealth tax. The ultra-wealthy are infamous for tax avo…

IMO capital gains taxes are bad as well, they discourage efficient investment allocation (you are stuck with what you have now).

It would be better if we mainly taxed consumption directly. If you are a billionaire but spend $100k/yr I am fine with you paying the same taxes as anyone else spending $100k/yr.

Re: Larry Page has moved to Florida

#38

Post by AceJohnny2 »

snapetom wrote: post #15

This part from Paul Graham on his own move was eye opening: "After we'd been in England for several years, I asked the people who do our taxes to check, and they told me that I actually saved money by moving to England. That's how high California state taxes are already."

I wonder how he figures that. I'm well paid and my CA taxes are 1/3 as much as my Federal taxes. Especially in the current regime, CA taxes are not first my point of complaint.

This just reinforces my opinion that we shouldn't listen to billionaires about anything.

Re: Larry Page has moved to Florida

#39

Post by bdangubic »

lapcat wrote: post #11

> it has cost California both Larry's presence and all the tax revenue it made from him. 1. Google itself isn't moving. I don't think Larry is closely involved anymore, and a move out of state seems to prove that. 2. How much tax revenue did California even make from him? If he doesn't sell stock, then he has no capital gains to tax. That's the whole point of the wealth tax. The ultra-wealthy are infamous for tax avo…

he was freeloading in CA and now will be freeloading in FL

Re: Larry Page has moved to Florida

#40

Post by burnt-resistor »

serf wrote: post #8
GenerWork wrote: post #3

>"He wasn't just pretending to move to Florida." Do people often pretend that they're going to move? Seems like a weird thing to say.

its a luxury of the ultra-rich. they threaten to move to push legislation which way they want.

A number of my friends who belong in these very high upper brackets have suggested to me, more in sorrow than in anger, that if I am reelected they will have to move to some other Nation because of high taxes here. I shall miss them very much but if they go they will soon come back. For a year or two of paying taxes in almost any other country in the world will make them yearn once more for the good old taxes of the U.S.A.

President Franklin D. Roosevelt

Address at Worcester, Massachusetts

October 21, 1936

It's always a bluff like a kid throwing a temper tantrum going to "hold their breath".

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