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Old 11-03-2023, 09:05 AM
 
Location: Free State of Florida
25,746 posts, read 12,832,402 times
Reputation: 19311

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https://www.foxbusiness.com/business...ounding-amazon

Here comes another Billionaire to SE Florida, and the 3rd richet man on Earth.

Bezos is leaving Seattle he announced last night, & he's headed to Miami....actually back to Florida where he was raised.

The economic impact of a man with his wealth is a huge win for Miami, & Florida, & a huge loss for Seattle & Washington.

Florida just keeps winning. Washington just enacted a 7% capital gains tax, while Florida has none.

Last edited by beach43ofus; 11-03-2023 at 09:19 AM..
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Old 11-03-2023, 10:15 AM
 
17,536 posts, read 39,147,881 times
Reputation: 24289
Quote:
Originally Posted by beach43ofus View Post
https://www.foxbusiness.com/business...ounding-amazon

Here comes another Billionaire to SE Florida, and the 3rd richet man on Earth.

Bezos is leaving Seattle he announced last night, & he's headed to Miami....actually back to Florida where he was raised.

The economic impact of a man with his wealth is a huge win for Miami, & Florida, & a huge loss for Seattle & Washington.

Florida just keeps winning. Washington just enacted a 7% capital gains tax, while Florida has none.
Why is this a "win" for Florida? A genuine question. Having him in my state doesn't help me any.
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Old 11-03-2023, 11:06 AM
 
Location: Florida
2,345 posts, read 2,296,547 times
Reputation: 3612
I agree it's a win, but probably not a huge one. He'll pay property tax (probably already does), sales tax, and support local businesses. But it's a marginal difference in a state of of 20M people. Plus, when you've got a private jet and can go anywhere on a whim I doubt he'll actually be in Florida much... If anything, the biggest win is the headline and the notion that it might more attract UHNWIs.
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Old 11-03-2023, 12:01 PM
 
24,409 posts, read 26,971,175 times
Reputation: 19993
Quote:
Originally Posted by gypsychic View Post
Why is this a "win" for Florida? A genuine question. Having him in my state doesn't help me any.
Taxes
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Old 11-03-2023, 12:17 PM
 
27,232 posts, read 43,956,177 times
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It's not really a "win" given it was a decision made to be close to his aging parents in their twilight years, versus some political/economic statement. If anything it's a typical Florida theme for many in the same boat.
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Old 11-03-2023, 12:33 PM
 
33,316 posts, read 12,540,890 times
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Quote:
Originally Posted by beach43ofus View Post
https://www.foxbusiness.com/business...ounding-amazon:

Here comes another Billionaire to SE Florida, and the 3rd richet man on Earth.

Bezos is leaving Seattle he announced last night, & he's headed to Miami....actually back to Florida where he was raised.

The economic impact of a man with his wealth is a huge win for Miami, & Florida, & a huge loss for Seattle & Washington.

Florida just keeps winning. Washington just enacted a 7% capital gains tax, while Florida has none.
It doesn’t mention this in your link, but that tax helped trigger billionaire Fisher Investments founder Ken Fisher to move the HQ of Fisher Investments to here in Texas……to Plano, IIRC (a suburb of Dallas).
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Old 11-03-2023, 12:45 PM
 
Location: Flahrida
6,428 posts, read 4,920,252 times
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Welcome Jeff, to sunny tax free Florida.
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Old 11-03-2023, 02:46 PM
 
Location: Florida
2,345 posts, read 2,296,547 times
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Quote:
Originally Posted by RMESMH View Post
It doesn’t mention this in your link, but that tax helped trigger billionaire Fisher Investments founder Ken Fisher to move the HQ of Fisher Investments to here in Texas……to Plano, IIRC (a suburb of Dallas).
I didn’t realize Ken Fisher left too. Very interesting! My understanding is that capital gains tax only applies if you make more than $250k in capital gains. Not even applicable to most people, but to these guys I guess it’s a deal breaker.

For what it’s worth, Washington is still much more tax friendly than it’s neighbors or California.
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Old 11-03-2023, 03:01 PM
 
Location: In a happy, quieter home now! :)
16,905 posts, read 16,133,395 times
Reputation: 75608
Quote:
Originally Posted by FL_Expert View Post
I agree it's a win, but probably not a huge one. He'll pay property tax (probably already does), sales tax, and support local businesses. But it's a marginal difference in a state of of 20M people. Plus, when you've got a private jet and can go anywhere on a whim I doubt he'll actually be in Florida much... If anything, the biggest win is the headline and the notion that it might more attract UHNWIs.

What is a "UHNWI"?
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Old 11-03-2023, 03:05 PM
 
Location: Free State of Florida
25,746 posts, read 12,832,402 times
Reputation: 19311
Quote:
Originally Posted by gypsychic View Post
Why is this a "win" for Florida? A genuine question. Having him in my state doesn't help me any.
Economic impact. He already bought $150,000,000 worth of real estate in Miami.

All the money he spends here will be taxed. He's very likely to bring, and create, jobs here too.

Other Tech leaders will likley follow, & they'll spend a lot of $ here too.
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