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Then your "liberal surfer" friend must make at least $25 million a year, because it's a 2% tax. If he's paying 500k in taxes then adjusted gross income must be minimum $25 million or so.
What exactly does he do for a living? That's far more than most billionaires make in annual salary. That's more than Jeff Bezos, richest man on earth, earns in salary. More than Jamie Dimon, CEO of Chase, the largest bank on the planet.
Who, outside of a few sports stars, entertainers and hedge fund titans, makes $25 million+ in adjusted gross income in a year? That's insane.
He has invented some very widely used websites. He is my next door neighbor in the Hamptons. He has a $20M house that he only uses for a couple of weeks a year. He has already left, I think he is in Fiji surfing right now.
He has invented some very widely used websites. He is my next door neighbor in the Hamptons. He has a $20M house that he only uses for a couple of weeks a year. He has already left, I think he is in Fiji surfing right now.
Good for him, but I'm amazed he actually has an AGI of $25 million. There are probably not even 100 people in the U.S. with that sort of AGI.
Probably no one in tech has such an AGI (but they get many times more in vested options).
Let's be realistic though, where are those wealthy Seattleans going to move in response? SF? NYC? Boston? Seattle is still a much better deal, so I don't see Washington state losing much in this scenario. Will they move out of Seattle proper? Maybe, but who does that matter to.... Seattle still has enough wealthy people lined up to buy those homes. The burbs want to attract more people to buy high-cost homes. Check, check, WA still winning.
And we're even assuming it's actually going to change some behaviors. You think a person who chose to pay the high cost of living in Seattle (relative to the burbs), presumably because they like city life or don't want to commute to work in the city, are going to throw it all away to save a few grand? That's not how rich people think.
Are you aware of what's been happening in CA for the last two or three decades? People are leaving. Businesses are leaving. Brown and his government raise taxes to compensate. Repeat. We had enough. We left.
He has invented some very widely used websites. He is my next door neighbor in the Hamptons. He has a $20M house that he only uses for a couple of weeks a year. He has already left, I think he is in Fiji surfing right now.
I'm oceanfront on the least (east) coast (surfer terminology), but live in my Reef Fannings, tank top (I'm female), and shorts.
Good for him, but I'm amazed he actually has an AGI of $25 million. There are probably not even 100 people in the U.S. with that sort of AGI.
Probably no one in tech has such an AGI (but they get many times more in vested options).
I wasn't quoting him. I made that assessment based on his net worth. The point was that he will be paying a great deal of money, but he said he is fine with the tax.
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