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This is the second time these PayPal mafia-types have tried to make a California exodus happen. First time was right after their liquidity event, when they move
by numair 5y ago
This is the second time these PayPal mafia-types have tried to make a California exodus happen. First time was right after their liquidity event, when they moved to all of the usual states where you go (Washington, Nevada, whatever). It didn’t work.
There is this amazing thing that happens in California, where culture and technology go to war with each other and engage in a death match that creates better technology and (sometimes, like in the 90s) better culture. This doesn’t really happen anywhere else. And if this is the end of that cycle, it’s sad for a whole lot more than the people who live in California. So, I hope it fails once again.
I wish these stories were written as they should be: “economic migrants who became rich off California decide to leave the state, try to turn it into a social movement.” For some reason that only happens when right-wing politicians want to paint non-members of a certain ethnicity as a bunch of parasites...
- jxidjhdhdhdhfhf 5y agoTesla is not leaving California, they're continuing to expand operations in Fremont. It's just that Tesla is now a worldwide company and Texas happens to be a more convenient location for the time being.
- acdha 5y agoThey’re moving because this allows the top earners to not pay state income tax. We don’t need to dress it up at any more noble than that.
- JKCalhoun 5y agoThat is likely true. I was surprised though at how high property taxes are in Texas (relative to California where I have lived for some time). Also, toll roads. It's almost like you got to pay for things somehow. ;-) The cost of housing is so far down the ladder with regard to the Bay Area though that even with the higher property tax rates, it's still probably a money-saving move to head to Texas. (The toll road thing is a crazy regressive tax though, IMHO.)
- jxidjhdhdhdhfhf 5y agoAre you speaking of high in absolute dollars or percentage of home value? I'm comparing RE tax amounts between Fremont, CA and Austin and it seems like for similar house sizes, the absolute amount of RE taxes paid is way lower in Austin, but it's possible I'm misinterpreting things.
- acdha 5y agoThe old joke in California politics was that you had two parties: both wanted good roads, schools, etc. but only one was willing to pay taxes for them. I found that quite vivid growing up in the 80s and 90s where you could basically watch infrastructure falling apart because maintenance required things like bond issues.