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There's been studies that found the rich don't leave a place due to taxes. I.E. California has one of the biggest economies in the world... http://minnesota.p

• Turing_Machine 9y ago
  State and local taxes won't be deductible from federal taxes under the new Trump tax plan. The story is going to be rather different in that situation, I would bet.
• arcticbull 9y ago
  Makes sense, if you’re already wealthy then you pick where to live based on where you want to live. Optimizing based on taxes seems cheap, I’d imagine they’d rather solve that by making more money. Plus it’s not like US citizens have much choice, they have to pay the IRS no matter where you live in the world forever. Nowhere to run, nowhere to hide haha.
  • rbanffy 9y ago
    > Optimizing based on taxes seems cheap Depends on the total amount of taxes paid. Some people dodge a couple billion every year by doing some clever tricks with their residence, citizenship and tax domicile.
    • arcticbull 9y ago
      Not if you're a US citizen :) even renouncing forces you to pay taxes to the IRS on your way out the door (the expatriation tax: https://www.irs.gov/individuals/international-taxpayers/expatriation-tax https://www.irs.gov/individuals/international-taxpayers/expa...)
      • rbanffy 9y ago
        You do. Your companies not so much.
  • murph-almighty 9y ago
    The way I like to think about it is this: Kansas has low taxes, but no one's dying to move there.
    • nickthemagicman 9y ago
      Haha exactly.
• kazinator 9y ago
  Well, the rich generally leave a place due to what season it is.
  • rbanffy 9y ago
    And, if you manage to never spend more than half a year on any single place, you can always claim you don't live on any of them.