U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-25-2019, 09:48 AM
 
26,622 posts, read 9,061,236 times
Reputation: 9272

Advertisements

Taxes have consequences, Miami targets Chicago financial firms to relocate worried about new taxes, Miami is calling.

We have Chicago style pizza already so leave that behind when you turn out the lights in Chicago and walk into sunny Fl.

The businesses might not relocate but wealthy families and individuals are !!!


Miami targets Chicago's financial firms - Crain's Chicago Business
https://www.chicagobusiness.com/fina...inancial-firms

“We’re coming after Illinois,” said Miami DDA Deputy Director Christina Crespi, noting that their efforts were spurred partly by the proposed Illinois graduated income tax that would increase levies on the state’s richest residents. Florida has no personal income tax. She says the city has a "minimal pot of funds" to help newly arriving firms build out offices.

Miami real estate seeing record sales as high ... - Business Insider
https://www.businessinsider.com/miam...ax-laws-2019-2

NYC hedge-fund managers and Silicon Valley CEOs are flocking to Miami as 'tax refugees,' and it's sparking record, ultra-luxury real-estate sales in the area

These wealthy families and individuals are buying up ultra-luxury real estate ranging from $10 million to $50 million.
Reply With Quote Quick reply to this message

 
Old 06-25-2019, 10:18 AM
 
Location: Divided Tribes of America
13,693 posts, read 5,517,808 times
Reputation: 5373
Why pay Illinois taxes when you can pay for elaborate sea defenses in Miami Beach?
Reply With Quote Quick reply to this message
 
Old 06-25-2019, 02:31 PM
 
3,214 posts, read 1,548,768 times
Reputation: 2347
Is this the OP's usual rhetoric of seeing Miami as NOW a conservative Sunbelt city now? Worthy of her or his liking? I doubt it. Miami lacks office-space in general for a booming city. Stealing from the North is old news......

Miami realizes it will have future issues if more Sea-intrusion occurs .... and rising infrastructure cost overall. Miami Beach already raising areas in Ocean intrusion. Not to mention Florida's water-Table and Georgia restricting water from it they can siphon-off.

Though I in no way see gloom and doom for Miami. I love South Florida .... though primarily its coastal locations. But it begs for Corporate AMERICA to move there. Its core by far is residential .... with many towers part-time to half empty in residents. Chicago has a history of not overbuilding. If its core outward boom-cycle ends..... it is as it always was. Most of its high-rise thru super-tall constructing. Is residential, or mixed hotel/residential. But it has gotten some new office owners going up currently.
Reply With Quote Quick reply to this message
 
Old 06-25-2019, 03:37 PM
 
9,623 posts, read 5,943,629 times
Reputation: 6540
Quote:
Originally Posted by phma View Post
Taxes have consequences, Miami targets Chicago financial firms to relocate worried about new taxes, Miami is calling.

We have Chicago style pizza already so leave that behind when you turn out the lights in Chicago and walk into sunny Fl.

The businesses might not relocate but wealthy families and individuals are !!!


Miami targets Chicago's financial firms - Crain's Chicago Business
https://www.chicagobusiness.com/fina...inancial-firms

“We’re coming after Illinois,” said Miami DDA Deputy Director Christina Crespi, noting that their efforts were spurred partly by the proposed Illinois graduated income tax that would increase levies on the state’s richest residents. Florida has no personal income tax. She says the city has a "minimal pot of funds" to help newly arriving firms build out offices.

Miami real estate seeing record sales as high ... - Business Insider
https://www.businessinsider.com/miam...ax-laws-2019-2

NYC hedge-fund managers and Silicon Valley CEOs are flocking to Miami as 'tax refugees,' and it's sparking record, ultra-luxury real-estate sales in the area

These wealthy families and individuals are buying up ultra-luxury real estate ranging from $10 million to $50 million.


The problem with this approach of trying to steal other states' businesses by being cheap is that there is always another place willing to out-cheap you. This is not a good plan to begin with, and it won't last. I have never heard of a state prospering just based on that.

Fund manager Peter Schiff was going to move his office from NYC to somewhere in Florida. Then Puerto Rico came knocking with even better incentives, and guess what, now his office is in PR.

Literally the hottest IPOs this year are all companies that are based in CA. They're doing fine.



.
Reply With Quote Quick reply to this message
 
Old 06-25-2019, 03:50 PM
 
Location: Suburb of Chicago
20,650 posts, read 10,026,323 times
Reputation: 20184
Or you can go to another state that not only has our deep dish, but also has Portillo's. Lower cost of living and some of the food we're addicted to. Win-win.
Reply With Quote Quick reply to this message
 
Old 06-25-2019, 03:51 PM
 
13,554 posts, read 7,411,090 times
Reputation: 12472
Quote:
Originally Posted by MPowering1 View Post
Or you can go to another state that not only has our deep dish, but also has Portillo's. Lower cost of living and some of the food we're addicted to. Win-win.
Florida has Portillo’s and no state income tax.
Reply With Quote Quick reply to this message
 
Old 06-25-2019, 06:25 PM
 
26,622 posts, read 9,061,236 times
Reputation: 9272
Happiness and the future is a gondola !!!
Reply With Quote Quick reply to this message
 
Old 06-25-2019, 06:35 PM
 
Location: Suburb of Chicago
20,650 posts, read 10,026,323 times
Reputation: 20184
Quote:
Originally Posted by shadowne View Post
Florida has Portillo’s and no state income tax.
Okay, Florida, it is!

A LOT of the people around me who are retiring are moving out of state, but so far none of them are heading to FL. I don't know why that is, but it is.
Reply With Quote Quick reply to this message
 
Old 06-25-2019, 06:37 PM
 
2,075 posts, read 763,892 times
Reputation: 2232
Miami is so successful that they are the financial epi-center of an entire continent they aren’t even part of. Quick reminder that Miami has a conservative mayor.
Reply With Quote Quick reply to this message
 
Old 06-25-2019, 09:14 PM
 
2,774 posts, read 1,135,330 times
Reputation: 2649
You'd still want to be Chicago if you really cared about salary. Chicago is still a bargain for 95% of earners, even with taxes.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top