this post was submitted on 11 Jul 2026
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Enough Musk Spam
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Rich people do leave, but not as many as what is fearmongered to be.
In the case of New York, it has the Wall Street, it's not like the rich will carry the entire institution with them. Moreover, even Warren Buffet said that during the 1960s and 1970s when the wealth tax was higher, rich people didn't leave.
I think this is what we neglect. Texas is trying to build a new stock market capital in Dallas. Miami is trying to become an international city for libertarian tech bros. South Carolina is trying to become the new headquarters for Boeing.
People are definitely trying to leave. But they suck and are failing at it.
That's the same story everywhere, people were worried shitless in Norway. Multiple claims of collected taxes going down, then they figured out more than half of the very rich that moved residence out of the country only did so on paper - I believe quite a few nonces got hit by a double tax