[atomi]

> CA at some point will try to tax unrecognized capital gains

Where is the evidence for this?

Effectively, Elon has avoided future California capital gains taxes by moving. Those are the facts of his move.

Personally, I would rather pay a few points extra on capital gains and income taxes to avoid Texas.

Just look at what the Texas AG is doing right now:

https://www.dallasnews.com/news/politics/2020/12/08/texas-ag...

[misiti3780]

Here is the thing though - it's not just a "few extra points".

By my calculation its 13.3% more living in California in state income tax savings alone. That is a huge amount of money for Elon, but is also a huge amount of money for people working on a SV salary. It could be more than a mortgage payment. There are probably additional savings with less regulation etc

California is not a state anyone should want to do business in in 2020.

[reducesuffering]

That's a disingenuous representation of how much extra state income taxes are paid. 13.3% is the rate for single income above $1,000,0000. A richly paid SV worker making $500k single pays 8.75% to the state of CA effectively.[0]

[0] https://smartasset.com/taxes/california-tax-calculator#6NtLs...

[misiti3780]

Fair, then maybe we can agree on the following:

"If your household income is > 1MM and you live in California, it is not surprising that you would want to leave"

[ohazi]

> for people working on a SV salary

Most Californians don't get to keep their SV salary when they move to Texas.

[misiti3780]

What data are you basing that on - Austin is not cheap, and it's probably getting a lot more expensive now that everyone is moving there.

[pchristensen]

I looked at Austin a few years ago, and after seeing the salaries I could find vs the cost of housing for 5 in a highly rated school district, I didn't even apply anywhere.

[bayesbot]

I'm guessing it's a good option if you already have a good amount of home equity from a higher paying area though.

[robszumski]

Aside: California is notorious for going after income that was "earned" in CA even if you no longer reside in the state. They'll still be collecting $$ from him for years to come.

[threeseed]

Texas AG is just doing that to get a Presidential pardon.

It's pretty despicable that he is willing to throw the country under the bus for his own personal benefit.

[chillwaves]

While half the country cheers on. How many of those half actually believe in what's happening and how many are just along for the ride, pursuit of power above all else?

It's sickening how a coup attempt is being normalized by our media.

[boardwaalk]

The big cities are something like 70/25 blue/red as of 2020, and you can be pretty sure they despise Ken Paxton et al. If you want to expand “the area you live in where people agree with me” to states the size of Texas/California, you can do that. But it seems a little silly to me. And you’ll have made a difference via voting when/if Texas votes these people out.

[mlindner]

California keeps trying to get "wealth taxes" on the ballot. That is exactly taxing of unrecognized capital gains.

[Darmody]

Capital gains and the new magical tax on the wealth that democrats want. They don't have enough taxing you for what you earn so they decided to tax you for what you're worth.