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Elon Musk moves to Texas

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Re: Elon Musk moves to Texas

#621

Post by manigandham »

fataliss wrote: post #596
manigandham wrote: post #555

Earlier quoted context omitted.

Crime and gang activity is increasing, especially in prisons where every yard is now active. Local street gangs sets have multiplied with the influx of people (many homeless), drugs, welfare and larger organized crime operations. Also recent policies decriminalized many acts and have led to rampant street crime in areas like SF and LA. CA provides sanctuary status for illegal immigrants, along with driver licenses, f…

Do you have any source on these claims? Cause these are typically hard to measure and I get suspicious when I read "Also recent policies decriminalized many acts and have led to rampant street crime" and other welfare correlation with crime. Happy to learn new things tho :)

https://www.sfchronicle.com/opinion/openforum/article/An-exp...

https://www.foxnews.com/us/california-prop-47-shoplifting-th...

https://sanfrancisco.cbslocal.com/2016/05/14/shoplifting-cal...

Why are you suspicious? When you stop arresting people for crimes and allow criminal behavior then you get more crime. This is so correlated as to be mathematical fact. This is no different to NY removing bail and then being surprised that criminals walk right out of the courthouse and back to their operations the same day while being further emboldened by these policies.

Many think there isn't much crime because they're usually sheltered from it by distance and police activity. It only takes a small gap to notice how bad conditions can get, and how quickly they deteriorate.

Re: Elon Musk moves to Texas

#622

Post by etc-hosts »

bvandrunen wrote: post #594
etc-hosts wrote: post #575

He's just moving out of California as part of a tax avoidance strategy. The end.

Would Texas have shut down Tesla factories due to COVID as CA did? All while Detroit keeps cranking out cars?

It is my understanding that Michigan completely stopped production during the current crisis. Looks like they're producing again. So is Tesla.

You have to weigh a population's death risk vs increasing the net worth of Elon Musk.

I am certainly not a person who believes that because people depend on economic activity, that we should make a cold hard decision and keep production levels up to normal during the crisis.

COVID-19 infection and death rates are up all over the US, so I don't have a good answer for you.

I would be pretty angry if my SO or family worked in a Tesla factory and were forced to work somewhere they are in high danger of being infected, but I guess that's Capitalism.

Re: Elon Musk moves to Texas

#623

Post by RobRivera »

aantix wrote: post #226
nickthemagicman wrote: post #27

Earlier quoted context omitted.

What are unrecognized capital gains?

Imagine the house you live in is worth $250,000. And imagine paying "asset" taxes on that $250,000 home even though you still live there.

Thats...not unrealized cap gains tax, at all. That's property taxes and is a real thing to home owners. My tax bill grows every year bc my home gets assessed at higher values

Re: Elon Musk moves to Texas

#624

Post by athms »

boringg wrote: post #483
rrrrrrrrrrrryan wrote: post #470

Earlier quoted context omitted.

Compared to California, most states depend less on income taxes and more on property taxes, which is part of the reason why property prices are higher in California.

I think California would have higher property taxes if they hadn't implemented prop 13 back in the 80s. Really messed up the state tax dynamics imho. Policy started from a good place but ended up with weird ripple effects.

>...implemented prop 13 back in the 80s.

Your math is a little off, it was 1978.

Re: Elon Musk moves to Texas

#625

Post by RobRivera »

jcampbell1 wrote: post #56
nickthemagicman wrote: post #27

Earlier quoted context omitted.

What are unrecognized capital gains?

Let’s say you are a painter, and you paint 20 pictures and sell 10 for 100,000 each. You pay taxes on the 1m you receive. The other 10 painting are sitting in a storage unit. Then at some point in the future someone, one of you previous customers sells their painting in a private sale for 10M. They pay capital gains on $9.9m. Now you as the painter hypothetically have $100M worth of in paintings in your storage unit.…

Great example, and its a dangerous policy bc it makes the incentive to sell your assets to cover the tax bill higher, regardless of your personal plans with them. (Maybe they are future wedding gifts for your children?)

Re: Elon Musk moves to Texas

#626

Post by monocasa »

dcolkitt wrote: post #611
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…

> For example, to this day I do not recommend being openly gay and living near Tyler. I've never heard anyone in Tyler scream at random strangers calling them "f*t". But that does seem to be a pretty much daily occurrence from the illustrious cast of characters that hang out around the Powell Street BART station.

When you're in a place like Tyler, you learn to tone down any external queerness for personal safety reasons.

You might not have heard it because they've already hammered down all the nails around you that stick out.

Re: Elon Musk moves to Texas

#627

Post by cryptica »

elindbe2 wrote: post #65
sidlls wrote: post #42

Earlier quoted context omitted.

It likely posed an appreciable risk to his business ventures that CA at some point will try to tax unrecognized capital gains, People like Musk leverage their paper wealth into real (risky) loans and the like to support their business ventures (and personal lives)--part of the "socialize risk, privatize profits" model of pseudo-capitalism they practice. A thoughtless approach to taxing unrecognized gains is not a goo…

Socializing what risk? What are you even talking about? Musk put his entire fortune from PayPal on the line for Tesla knowing that in all probability it would fail. It turned out well for him but it was still a huge risk he took. I would argue that the opposite is true. California wants a larger cut of profits from business activity within their borders without any risk on their part, or even having to provide better…

>> Musk put his entire fortune from PayPal on the line for Tesla knowing that in all probability it would fail. It turned out well for him but it was still a huge risk he took.

For sure Elon Musk is a very smart guy and he works really hard and he knows how to deliver amazing products and his PR skills are amazing... That said, we can't deny that he got a lot of support from the US government. Without US government help (e.g. subsidies, grants, carbon credits), he probably would have failed flat on his face like all other geniuses. His ability to secure government support had more to do with luck (history and social connections) than skill.

So as great as Elon Musk is, he did socialize a lot of his risk.

Re: Elon Musk moves to Texas

#628

Post by monoideism »

macjohnmcc wrote: post #526
monoideism wrote: post #244

Earlier quoted context omitted.

How do you describe "far-right"? Edit: the reason I ask the question is that I've noticed a trend among people from very left-leaning areas to define anyone slightly right of center as being "far-right". I've been called "far-right" because of beliefs that were typical of moderate Democrats in the 1990s. What label that leaves for people like actual Nazis, fascists, neo-Confederates, etc, I'm not sure. Far-far-far ri…

How about the nuts between San Antonio and Austin that tried to run the Biden/Harris bus off the road. There are plenty like them in Texas. I live here I know.

I don't know much about them - probably "right" and possessed with the same moral hysteria as the left. I'm not a Trump supporter or voter, if that's what you're trying to goad out of me.

Re: Elon Musk moves to Texas

#629

Post by TuringNYC »

ddoolin wrote: post #429
boringg wrote: post #171

Earlier quoted context omitted.

California still has every viewpoint that is imaginable though there does seem to be less space for far right. What's making everyone salty about Elon leaving is there was considerable amount of people who helped him build up in the state (i.e. state benefits, staff who worked incredibly hard for many years, consumers who bought his cars [drive in the bay area]) and he's peacing out, with a slap in the face to everyo…

Genuine question: how do states like Texas, Florida, etc. get by without taxing income? Do they not need that money for their operations? What is the difference between their government and California's? I figure Florida makes it up with their tourism industry but Texas decidedly does not have that.

There are different ways for states to generate income or save income:

- Personal income/wage tax

- Business income tax

- Capital gains taxes, Dividend taxes

- Sales tax

- Proper tax (homes, cars, etc.)

- Reducing services (e.g., worse schools, worse healthcare)

- Borrow (this can be a slippery slope)

- Create shadow liabilities that dont show up on the books (e.g., pension liabilities with poor growth assumptions)

Re: Elon Musk moves to Texas

#630

Post by anchpop »

11thEarlOfMar wrote: post #473
gonehome wrote: post #213

I wish public rhetoric was less combative/twitter-like and more collaborative. Elon has built incredible companies doing incredible things. He's also made some stupid comments re: covid. SV political hostility towards technology companies and employees is frustrating. I wish the government was more aligned with helping these companies grow and things weren't treated as if they were so zero-sum (when they're not). I a…

I'm an optimist and forward looking person at heart. But the last couple of years have made me cynical enough that I researched the 'most free' country in the world as an expatriate destination[0]. We are witnessing super-wealthy individuals, I think the word is oligarch, use their out-sized wealth to advance causes outside of the domain that made them wealthy. Obvious examples include Bill Gates advancing world heal…

As long as you have a properly functioning government that’s resistant to bribery and corruption, these initiatives can’t hurt you. The phrase “world health oligarch” sounds scary but what that looks like is Gates paying people to research sanitation and disease prevention. It’s not like he’s taking over the NHS.
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