Hacker News new | ask | show | jobs
by dh2022 41 days ago
I actually think billionaire flight is a good thing. Billionaires do not contribute to their community. Sure some tax accountant and some security people will lose their jobs, but this not matter for regular folk.

If nothing else, billionaires flight is a positive thing.

I am hoping all the billionaires leave my Washington state as a result of the millionaire tax - it may become a normal state like Oregon.
2 comments
0xy 41 days ago
And what about the jobs they take with them? Starbucks shifting corporate jobs to Tennessee is a pretty local and recent example.

The average Starbucks corporate worker is squarely middle class. Their job is leaving as a result of this rhetoric.

link
dh2022 41 days ago
Starbucks HQ moving to Tennessee is not caused by WA state millionaire tax - Burito Boy was hired on August 2024 well before the millionaire tax was even envisioned. Part of his compensation is predicated on these costs savings - and these were part of Burrito Boy’s negotiations before he even signed up his employment contract. So this move has nothing to do with the millionaire tax.

And just to let you know- Starbucks is not that popular in Seattle. They have been closing stores right and left in Seattle to the point where I only know store that is open. Seattle is not missing them that much.

[edit some typos]

link
tim-tday 40 days ago
Aren’t those billionaires the founders and CEOs of all the tech companies in Silicon Valley? And the VC firms that get them off the ground.

Maybe it would be fine for them to leave, but I’m pretty sure you want their companies to stay.

Maybe not. 50% of the tech companies moving out of Silicon Valley would probably improve traffic, lower housing costs etc. I’m pretty sure the cities that host them enjoy the tax revenue they bring in.

link
dh2022 40 days ago
A lot of people that work (and thus benefit) from these tech companies are from out of state. Local people have to put up with insane housing costs because of tech work.

In Seattle at least some of the tech work is receding already because of layoffs. Which started to lower housing costs: landlords are starting to give 4 or 6 weeks of free rent.

More of this please.

link