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I just find the Bay Area rich nuts because you rarely, if ever hear that much about their lifestyles, especially in the NY/LA centric media. Almost like the billionaires there shun the cameras away and live more private lives.
I see some truth in this. For some reason, Bay Area centimillionaires are way more interesting and sexy than our local billionaires imo.
With all this wealth how can CA be broke, tax these guys more CA. Maybe more will move to Tx. Same applies to NY so tax them NY, Texas wants them
With all the High tech wealth we need a windfall profits tax not oils
Its good in theory and its even better in politics.
But the problem is when one state tries to raise revenue by taxing the rich, a certain percentage of them will simply change their main address of residence to another state that has less taxes. We have plenty of people here in NY that do that, officially they live down in Florida but they seem to be up here all the time in New York
In other words if you raise taxes high enough, you may actually lose enough residents to other states that you may actually wind up with less revenue!
Its good in theory and its even better in politics.
But the problem is when one state tries to raise revenue by taxing the rich, a certain percentage of them will simply change their main address of residence to another state that has less taxes. We have plenty of people here in NY that do that, officially they live down in Florida but they seem to be up here all the time in New York
In other words if you raise taxes high enough, you may actually lose enough residents to other states that you may actually wind up with less revenue!
Thats my point, I am in Texas, we will end up with some of these guys who will move when tax rates get high enough. Well stated!
Thats my point, I am in Texas, we will end up with some of these guys who will move when tax rates get high enough. Well stated!
The country has a healthy distribution of ultra high net worth people so Im not sure why you think TX needs to lure more billionaires as the state already has a lot. LOL.
Here's a chart I recently made with the Top 10 US and Top 10 European metro areas ranking them by the number of individuals worth $30 Million+ who reside there. NOT FOR COMPARATIVE PURPOSES, just for informational purposes.
As you can see, Houston and Dallas have a lot of very wealthy people already.
Great data on global cities with population worth more than $30M. Wonder how they got their data? Would be interesting to see it converted to spending power after factoring in local living cost, even though that group probably spends more outside the city they live than in it.
The country has a healthy distribution of ultra high net worth people so Im not sure why you think TX needs to lure more billionaires as the state already has a lot. LOL.
Here's a chart I recently made with the Top 10 US and Top 10 European metro areas ranking them by the number of individuals worth $30 Million+ who reside there. NOT FOR COMPARATIVE PURPOSES, just for informational purposes.
As you can see, Houston and Dallas have a lot of very wealthy people already.
Wheres Miami? According to this WSJ Article Florida is 4th in the nation with 3526 Ultra Rich. I would think South Florida would have at least 1500, perhaps they broke the metro up.
Wheres Miami? According to this WSJ Article Florida is 4th in the nation with 3526 Ultra Rich. I would think South Florida would have at least 1500, perhaps they broke the metro up.
uh oh...looks like someone has to make this into a Dallas v. Houston thread
I am always VERY impressed by DFW's billionaire count...25! Incredible total for our area. More than half of Texas' billionaires
Also Htown you may need to check those facts. Although totals vary, and generally Houston has slightly more millionaires, those figures are off. In this survey as mentioned in D Magazine, Dallas actually had MORE millionaires than Houston... (2009)
Enough of this, I can save the rest for the Dallas vs. Houston smackdown.
Regardless, props to Texas for our impressive count
not at all. I was explaining that Mass wealth might be in the high numbers of millionaire rather than a handful of billionaires and Houston and Dallas was the perfect example of that because although Dallas has a handful more Billionaire Houston has a ton more millionaires.
and I didn't want to turn this into a back and forth but clearly you wanted too by challenging my stats without clear info.
The list of millionaire cities have been out for years now and DFW was never on the top ten. Last Year Houston moved from 9 to 8th place, having 96,000 millionaires.
Quote:
Despite moribund local economies, millionaires in all of these cities increased in number, in some cases significantly. Houston had 88,200 millionaires in 2009. In one year, the number of millionaires grew 9.6 percent to 96,700. This followed an impressive gain in the prior year, when the number of millionaires in the city grew nearly 30 percent
I read your Dallas Article and it looks like just Dallas newspaper boosterism because independent sources like Kiplinger and Capgemini who publishes the U.S. Metro Wealth Index said that Houston had 88,000 millionaires that year, not 73K. I would trust them before I trust your newspaper
Wisconsin is a surprise. Didn't realize it would have that many Billionaires. I wonder if it mostly the Milwaukee metro area?
Connecticut is especially impressive.
Connecticut is wealthy New York sprawl. If you looked at the the two halves of the state eastern and western, its quite telling how the half in New York's backyard has some of the wealthiest areas in the world and the other half east of Hartford starts becoming crimeridden and poorer. Wisconsin is up there because of Racine. There's a wealthy billionaire family that lives there in between Chicago and Milwaukee.
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. Same applies to NY so tax them NY, Texas wants them
