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Billionaires threatening to leave

Billionaires threatening to leave

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@AverageJoe1 said
I admire your concise informative Post, not requiring us to look at the YouTube.
I will add to your observation that a major element of capitalism is that water seeks its own level. Businesses come, businesses go, but in the big picture growth has made our country the greatest in the world.. if the government had regulated all of that, that would not be the case. We would be more like Cuba.
A good post.
You think America is the greatest country? Are you just being hyperbolic or do you realy believe that?

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@Sprogladog said
You think America is the greatest country? Are you just being hyperbolic or do you realy believe that?
I guess to have such a discussion, to answer such a question, we would have to agree on the definition of great. Once we settle that, then we decide which country is the greatest.
Like you might say Netherlands is great because it has tulips and bicycles. My children and my grandmother would consider Netherlands to be the greatest country!!! So would Shav, likes that lifestyle, does not need a country which opens up a world of opportunity. He likes to ride around, he once said!

So leave your definition of great on me, and then I will do the same, and we will decide which is the greatest.
Let’s Do This!!!

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@Mott-The-Hoople said
Why would anyone want to start a business and create jobs when the govt will take a large portion of your money?

When all you have to do is create a business in another state.

Oh…that’s what they are doing.

You people are easily fooled by propaganda.
Leave it to Republicans to ask the wrong questions.

The top states for startups are California and New York. These states have higher corporate tax rates and income tax rates and regulatory tape than most other states.

So, the right question is why would all these entrepreneurs choose those states to start a business and create jobs instead of states like Alabama or Iowa?

Because... the blue states are investing corporate tax money into education and R&D that fuels the creation of new startups, and provides a large pool of educated talent for hiring employees.

Also, more closely related to the thread topic: Billionaires don't leave blue states when they raise taxes. That's a myth. You're the one falling for propaganda.

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@AverageJoe1 said
I guess to have such a discussion, to answer such a question, we would have to agree on the definition of great. Once we settle that, then we decide which country is the greatest.
Like you might say Netherlands is great because it has tulips and bicycles. My children and my grandmother would consider Netherlands to be the greatest country!!! So would Shav, likes that ...[text shortened]... on me, and then I will do the same, and we will decide which is the greatest.
Let’s Do This!!!
For me it boils down to egalitarianian and collectivism. Within that the quality of health, education, work-life balance and levels of democracy and maybe a tiny sprinkle cultural stuff like the arts and history.

You?

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@vivify said
https://www.foxbusiness.com/economy/california-entrepreneur-warns-billionaire-wealth-tax-could-trigger-giant-sucking-sound-business-exits

Billionaires have threatened to leave California if they enact the "billionaire wealth tax".

The commenter below makes a great point about such threats:

https://www.youtube.com/shorts/1f5iMFWTI88

His point: billionaires stifle ...[text shortened]... pop up and flourish.

I rarely post content from internet commentators but I recommend this one.
Billionaires rarely run businesses that are geographically limited. You don't become a billionaire by opening a Bunch of Bay Area yogurt shops. You become a billionaire by founding a Google or Apple or Microsoft or Facebook.

Billionaires leaving San Francisco are not suddenly going to open the door for Mom and Pop search engines or AI companies. They're simply going to relocate their headquarters to Texas or Florida.

But hey, if California wants to conduct the experiment, go ahead. Let's see what happens.

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@sh76 said
Billionaires rarely run businesses that are geographically limited. You don't become a billionaire by opening a Bunch of Bay Area yogurt shops. You become a billionaire by founding a Google or Apple or Microsoft or Facebook.

Billionaires leaving San Francisco are not suddenly going to open the door for Mom and Pop search engines or AI companies. They're simply going to reloca ...[text shortened]... lorida.

But hey, if California wants to conduct the experiment, go ahead. Let's see what happens.
I wonder how much money they’ll use up shipping chips from Taiwan to Texas instead of CA.

California is rich because of its geography. You can’t take that with you.

Google AI prompt:

“increased costs shipping taiwan to Texas vs California”

Shipping from Taiwan to Texas costs significantly more and takes longer than shipping to California. Transpacific ocean freight spot rates have surged dramatically, and routing to the U.S. Gulf Coast (Houston) requires navigating thousands of extra miles, paying canal transits, or incurring heavy domestic intermodal fees.

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@AThousandYoung said
I wonder how much money they’ll use up shipping chips from Taiwan to Texas instead of CA.

California is rich because of its geography. You can’t take that with you.

Google AI prompt:

“increased costs shipping taiwan to Texas vs California”

Shipping from Taiwan to Texas costs significantly more and takes longer than shipping to California. Transpacif ...[text shortened]... housands of extra miles, paying canal transits, or incurring heavy domestic intermodal fees.
Fair point.

A billionaires tax will likely be the marginal straw that breaks the camel's back in some cases, but as you say, there are often countervailing considerations.

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@sh76 said
Billionaires rarely run businesses that are geographically limited. You don't become a billionaire by opening a Bunch of Bay Area yogurt shops. You become a billionaire by founding a Google or Apple or Microsoft or Facebook.

Billionaires leaving San Francisco are not suddenly going to open the door for Mom and Pop search engines or AI companies. They're simply going to reloca ...[text shortened]... lorida.

But hey, if California wants to conduct the experiment, go ahead. Let's see what happens.
Exception: There is a used car dealer who became a billionaire selling cars in Florida.

https://www.forbes.com/sites/devinseanmartin/2024/01/15/the-car-dealership-billionaire-no-one-knows/?sh=172097a55856

Back to the point, billionaires are NOT leaving San Francisco. The money is important but it's not just about the money. There's family and community and culture. There are a few high profile and loud examples, but you're not going to convince a billionaire to move by enticing them with a 1% lower tax bill.

It's mostly poor people who move to find work. Billionaires don't have to, so they don't.

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@AThousandYoung said
I wonder how much money they’ll use up shipping chips from Taiwan to Texas instead of CA.

California is rich because of its geography. You can’t take that with you.

Google AI prompt:

“increased costs shipping taiwan to Texas vs California”

Shipping from Taiwan to Texas costs significantly more and takes longer than shipping to California. Transpacif ...[text shortened]... housands of extra miles, paying canal transits, or incurring heavy domestic intermodal fees.
hhmmm...

"These are results for taiwan shipping to Texas vs California.
Search instead for tiawan shipping to texas vs california?
Copilot Search Branding

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Shipping from Taiwan to Texas vs California
From Taiwan, shipping to Texas (e.g., Houston) is generally cheaper and faster than to California (e.g., Los Angeles) via ocean freight, but air freight costs are similar for both.

Ocean Freight (Sea) — Full Container Load (FCL)
To California (Los Angeles):

40’ container from Kaohsiung to Los Angeles typically costs $3,600–$4,500
welltrans-logistics.com
welltrans-logistics.com
.

Transit time is ~18–21 days via direct West Coast routes
SEKO Logistics
SEKO Logistics
.

To Texas (Houston):

40’ container from Kaohsiung to Houston is $3,600–$4,500 (same FCL rate)
welltrans-logistics.com
welltrans-logistics.com
.

Transit time is ~20–23 days via East Coast or direct Gulf routes
SEKO Logistics
SEKO Logistics
.

Key difference:

Cost: Very similar for FCL, since rates are flat per container size.

Time: Slightly longer to Houston via East Coast routes, but direct Gulf routes can match or beat LA times.

Ocean Freight (Sea) — Less Than Container Load (LCL)
To California: ~$80–$130 per CBM
welltrans-logistics.com
welltrans-logistics.com
.

To Texas: ~$80–$130 per CBM
welltrans-logistics.com
welltrans-logistics.com
.

Both are comparable per unit volume, but Houston may have slightly lower demand and thus lower LCL rates.

Air Freight
To California (Los Angeles): ~$183–$224 per pallet
www.wearewarp.com
www.wearewarp.com
.

To Texas (Houston): ~$248–$285 per pallet
www.wearewarp.com
www.wearewarp.com
.

Air freight is faster (2–5 days) but more expensive; Houston’s higher rates reflect higher demand and shorter air routes.

Summary Table
ModeDest. (Texas)Dest. (California)
Notes

FCL (40&rsquo😉$3,600–$4,500$3,600–$4,500
Same rate; Houston may take slightly longer via East Coast routes
welltrans-logistics.com
welltrans-logistics.com
+1

LCL$80–$130/CBM$80–$130/CBM
Similar per unit; Houston may have lower rates
welltrans-logistics.com
welltrans-logistics.com

Air (pallet)$248–$285$183–$224
Air faster to CA; Houston slightly more expensive
www.wearewarp.com
www.wearewarp.com

Recommendation:

For cost-sensitive, time-allowable shipments, choose FCL to either port — rates are nearly identical.

For urgent, small-volume cargo, air freight to California is faster; to Texas, air is still fast but slightly more expensive.

If you need shorter ocean transit to Texas, consider direct Gulf routes; otherwise, East Coast via Panama Canal can be competitive."

https://www.bing.com/[WORD TOO LONG]

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@sh76 said
Billionaires rarely run businesses that are geographically limited. You don't become a billionaire by opening a Bunch of Bay Area yogurt shops. You become a billionaire by founding a Google or Apple or Microsoft or Facebook.

Billionaires leaving San Francisco are not suddenly going to open the door for Mom and Pop search engines or AI companies. They're simply going to reloca ...[text shortened]... lorida.

But hey, if California wants to conduct the experiment, go ahead. Let's see what happens.
Companies like Walmart stifle competition. If they leave, mom-and-pop shops indeed flourish, increasing competition and consumer choice.

But you're right, lets see how this experiment plays out.

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@vivify said
Companies like Walmart stifle competition. If they leave, mom-and-pop shops indeed flourish, increasing competition and consumer choice.

But you're right, lets see how this experiment plays out.
give an example of where this has happened

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@Mott-The-Hoople said
give an example of where this has happened
It's kinda common sense innit?

True story: This happened in reverse to someone I know in upstate New York about 20 years ago. He owned a thriving hardware store but foot traffic vanished when a Home Depot megastore opened a few blocks away. He made ends meet by renting tools and heavy equipment for a while but in the end there was nothing he could do.

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@wildgrass said
Exception: There is a used car dealer who became a billionaire selling cars in Florida.

https://www.forbes.com/sites/devinseanmartin/2024/01/15/the-car-dealership-billionaire-no-one-knows/?sh=172097a55856

Back to the point, billionaires are NOT leaving San Francisco. The money is important but it's not just about the money. There's family and community and culture. Th ...[text shortened]... bill.

It's mostly poor people who move to find work. Billionaires don't have to, so they don't.
"1% lower tax bill" is highly misleading.

I assume you mean they could spread out the 5% over 5 years.

But that's 1% of their wealth, not 1% of their tax bill, or even income.

A person worth $10B in stock would ower an additional $500 million under this tax.

No matter how rich you are, it's hard to imagine a person not moving to save $500 million.

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@Mott-The-Hoople said
hhmmm...

"These are results for taiwan shipping to Texas vs California.
Search instead for tiawan shipping to texas vs california?
Copilot Search Branding

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Shipping from Taiwan to Texas vs California
From Taiwan, shipping to Texas (e.g., Houston) is generally cheaper and faster than to California (e.g., Los Angeles) via ocean freight, but air ...[text shortened]... 5aef45982a5517703&gs_lcrp=EgRlZGdlKgYIABBFGDkyBggAEEUYOdIBCTIxMDIwajBqN6gCCLACAQ&FORM=ANNTA1&PC=U531
Where did you get this from? You didn’t include a prompt or an AI product name.

These are results for taiwan shipping to Texas vs California.
Search instead for tiawan shipping to texas vs california?


Why would you want results for “Tiawan” instead of “Taiwan”?

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@Mott-The-Hoople said
hhmmm...

"These are results for taiwan shipping to Texas vs California.
Search instead for tiawan shipping to texas vs california?
Copilot Search Branding

Like

Dislike
Shipping from Taiwan to Texas vs California
From Taiwan, shipping to Texas (e.g., Houston) is generally cheaper and faster than to California (e.g., Los Angeles) via ocean freight, but air ...[text shortened]... 5aef45982a5517703&gs_lcrp=EgRlZGdlKgYIABBFGDkyBggAEEUYOdIBCTIxMDIwajBqN6gCCLACAQ&FORM=ANNTA1&PC=U531
Prompt for Google AI:

is this true: "Shipping from Taiwan to Texas vs California From Taiwan, shipping to Texas (e.g., Houston) is generally cheaper and faster than to California (e.g., Los Angeles) via ocean freight"

AI response:

“No, this statement is false. Shipping from Taiwan to California (e.g., Los Angeles) via ocean freight is actually significantly faster and generally cheaper than shipping to Texas (e.g., Houston).The original claim gets the logistics backwards due to two primary factors: geographic distance and port infrastructure.1. Transit Times (Speed)California is geographically much closer to Taiwan across the Pacific Ocean than Texas.Taiwan to California: Ocean freight (FCL) to West Coast ports like Los Angeles or Long Beach typically takes 14 to 20 days port-to-port.Taiwan to Texas: Vessels bound for Houston must either travel all the way through the Panama Canal to reach the Gulf Coast (taking roughly 30 to 40 days) or dock in California and move the rest of the way via intermodal rail (taking roughly 20 to 25 days total).”