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Comment by dh2022 | Hacker News Reader

dh2022·

Yeah, sure, Elon will leave US if he is taxed. Where will he go? EU - even higher taxes. Russia? China? Elon cannot even cross the street in those countries without Putin’s/Xi Ping’s approval.

He already moved to Texas because of taxes - I think this is as good as it gets for him. If US Federal Government taxes his wealth (not something remotely possible) he will still stay in Texas.

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You misunderstand. He never would have done it here in the first place. And we would all be poorer for it. Whether he would have been successful elsewhere or not is entirely irrelevant. He could have retired like any one of us normies would have.

Why did he pick one of the highest tax jurisdictions in the country to do it "in the first place", then?

Taxes in California are quite low. That's why I moved here and purchased property.

https://taxfoundation.org/data/all/state/state-income-tax-ra...

> Top marginal rates span from 2.5 percent in Arizona and North Dakota to 13.3 percent in California. (California also imposes a 1.1 percent payroll tax on wage income, bringing the all-in top rate to 14.4 percent as of 2024.)

Am I missing something?

> Am I missing something?

Yes. Literally an entire lifetime of context.

I'm not sure any amount of context is going to make your assertions that average Americans can put $140k in savings annually, that the Census doesn't account for pre-tax income, that Musk moved to CA for its low taxes etc. make any sense.

Don’t feed the trolls.

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