Row 68484

Row ID: 68484 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 68484 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

That is where the disconnect is. That wouldn't happen in that way.

Someone that rich where it is worth moving over 4% over a million in income is very, very few cases but even those have ties to the state and it doesn't up and all leave. Already their revenue comes already from in the state or out of the state, the revenue that comes from in the state would still be there. Their income tax may be moved out of the state but in MOST cases super wealthy are not even hit by income tax in the same way. The only people that might affect would be in the $1-$5 million range probably and that is even smaller.

Contrary to popular believe, rich people leaving doesn't kill a state treasury and it is never a clean break. Think about Trumpuppet for instance, he can't take his buildings with him to Florida... Even Elon who went to Texas, lots of things are still in other states CA/FL/NV. Even Bezos leaving to Florida from Washington, his income isn't just used in Washington and Amazon is still headquartered there.

Income tax from wealth is a very low impact thing.

Income itself is a very small thing because get this, people who are rich keep their money... they don't usually spend it. Massachusetts isn't losing a billion in income tax, they are missing only the tax on that which is small. Sure there would maybe be less spend by wealth who leave, but they aren't spending their millions just in that state nor do they spend all their money.

Every millionaire from every state could move out of the state and it would really only affect higher end products, almost nothing changes.

When uber wealth leaves that is also low impact. They don't leave for taxes, they usually leave for opportunities. There are other ways to get out of paying these taxes and one way is creating companies and investing in those. So on the macro view it actually is a stimulus that gets wealth money that is currently stagnant, to be active. Some may leave, and people will buy up that space in the market. They aren't that important at all.

FieldValue
text That is where the disconnect is. That wouldn't happen in that way. Someone that rich where it is worth moving over 4% over a million in income is very, very few cases but even those have ties to the state and it doesn't up and all leave. Already their revenue comes already from in the state or out of the state, the revenue that comes from in the state would still be there. Their income tax may be moved out of the state but in MOST cases super wealthy are not even hit by income tax in the same …
label r/economics
dataType comment
communityName r/Economics
datetime 2024-05-23
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Raw Record

{
  "text": "That is where the disconnect is. That wouldn't happen in that way. \n\nSomeone that rich where it is worth moving over 4% over a million in income is very, very few cases but even those have ties to the state and it doesn't up and all leave. Already their revenue comes already from in the state or out of the state, the revenue that comes from in the state would still be there. Their income tax may be moved out of the state but in MOST cases super wealthy are not even hit by income tax in the same way. The only people that might affect would be in the $1-$5 million range probably and that is even smaller.\n\nContrary to popular believe, rich people leaving doesn't kill a state treasury and it is never a clean break. Think about Trumpuppet for instance, he can't take his buildings with him to Florida...  Even Elon who went to Texas, lots of things are still in other states CA/FL/NV. Even Bezos leaving to Florida from Washington, his income isn't just used in Washington and Amazon is still headquartered there.\n\nIncome tax from wealth is a very low impact thing. \n\nIncome itself is a very small thing because get this, people who are rich keep their money... they don't usually spend it. Massachusetts isn't losing a billion in income tax, they are missing only the tax on that which is small. Sure there would maybe be less spend by wealth who leave, but they aren't spending their millions just in that state nor do they spend all their money.\n\nEvery millionaire from every state could move out of the state and it would really only affect higher end products, almost nothing changes.\n\nWhen uber wealth leaves that is also low impact. They don't leave for taxes, they usually leave for opportunities. There are other ways to get out of paying these taxes and one way is creating companies and investing in those. So on the macro view it actually is a stimulus that gets wealth money that is currently stagnant, to be active. Some may leave, and people will buy up that space in the market. They aren't that important at all.",
  "label": "r/economics",
  "dataType": "comment",
  "communityName": "r/Economics",
  "datetime": "2024-05-23",
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}
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