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Old 09-14-2019, 05:57 PM
 
21,635 posts, read 14,334,400 times
Reputation: 15196

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Mr. Icahn is older than dirt and this move is likely part of "getting his affairs in order" in preparation for meeting his maker. His soul and conscience OTOH are another matter.

Florida doesn't have "death" taxes, but NYS does, and it kicks in at a realatively low number (about 5 million IIRC), and goes up to around 13%. That isn't a huge amount for someone worth tens of billions, but why give something to government if you don't have to bother?
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Old 09-15-2019, 07:29 AM
 
Location: Manhattan
21,778 posts, read 28,849,450 times
Reputation: 9943
According to Forbes magazine, Icahn had a net worth of $17 billion in 2019, making him the 26th-wealthiest person on the Forbes 400, and the 5th-wealthiest hedge fund manager.[SIZE=3][4][/SIZE]


All this bull**** about how much the filthy rich pay in taxes. I'd like to see Icahn's last few tax returns. He probably pays less than some of us here.
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Old 09-15-2019, 10:22 PM
 
269 posts, read 74,892 times
Reputation: 324
McLaren also leaving.
https://www.wfaa.com/article/news/lo...a-4b8315228ede
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Old 09-16-2019, 08:22 AM
 
117 posts, read 104,139 times
Reputation: 120
It's pretty obvious that he's retiring. His staff is only 20 people by now and it has been reported that only 10 have accepted the relocation package. 50K for a relo like that is not nearly enough for higher-end financial professionals. It will barely cover the cost of the move when you factor in real estate fees one needs to pay when buying/selling properties. In addition, one would be cut off from NYC financial job market, and let me tell ya that once you step off the treadmill you ain't ever coming back - the competition is young, eager and ruthless and they will take your spot in a second. So, figure Icahn kicks the bucket within 5-10 years, and unless at that point you're ready to retire yourself, you're **** out of luck looking for a similar job in Miami. Not to mention Miami itself is an acquired taste. No, I would not take the 50k relocation offer unless I was already in my 50-ies myself and ready to retire in the next 5 years.
I would also add that this retirement is long overdue - I remember hearing him at a conference some 6 years ago, and thinking wow he's not fully with it, what's this dude doing still working. Either way, good for him
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Old 09-16-2019, 11:32 AM
 
131 posts, read 59,873 times
Reputation: 63
Quote:
Originally Posted by gentlearts View Post
Whether you are a fan of Rush Limbaugh or not, you should hear the saga of his shift from NYC to Florida, which I happened to hear on the radio. He moved many years ago, not because of the high taxes, which he could afford to pay, and did pay, but because of the constant auditing and harassment by those who didn’t share his political views.

The auditing and harassment did not end when he shifted his business to FL. It continued every year thereafter. Despite the records provided to New York, they would not admit that he did not owe the state money. To this day, he will not ever earn a dime in New York, he might appear there, but not for payment. It is New York’s loss.
Pretty sure the Rush's tax issue was around the sale of his NY condo he didn't want to pay taxes on that triggered the investigation -- not his political affiliation. He was trying to claim the home wasn't his principal and therefore not required to pay taxes as if it was - can respect the hustle but ultimately recognize the city'state needs capital to provide services and taxes is a primary way to get that (even 'no tax' Florida needs revenue to run those highways et al).
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Old 09-17-2019, 05:15 AM
 
Location: Manhattan
21,778 posts, read 28,849,450 times
Reputation: 9943
Icahn is moving to Florida as a temporizing move to warmer weather. He is gradually making his way to his very warm eternal home IN HELL.
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Old 09-17-2019, 08:17 AM
 
Location: New Jersey
5,861 posts, read 3,075,770 times
Reputation: 6879
^ With that much hate for someone you don't even know and who has given away in charities more than you would ever earn in one million lifetimes, you might end up there yourself.
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Old 09-17-2019, 08:47 AM
 
Location: Staten Island, NY
9,038 posts, read 7,301,565 times
Reputation: 8561
He hates everyone who isn’t a flaming liberal, preferably homosexual.
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Old 09-17-2019, 02:23 PM
 
3,593 posts, read 3,430,301 times
Reputation: 2655
Quote:
Originally Posted by antinimby View Post
^ With that much hate for someone you don't even know and who has given away in charities more than you would ever earn in one million lifetimes, you might end up there yourself.
If our 80+ billion lives that kk and Icahn can live on the same island above ground, may well be that KK and Icahn will go down together as gay couple living next door to de Blasio/Trump, if gay marriage is legal there...
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Old 09-17-2019, 08:27 PM
 
50 posts, read 12,500 times
Reputation: 68
Article has given a false reason why he's leaving NYC. Some older folks 65+ have always moved outside of NYC to retire, this is nothing new.
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