My neighborhood is filled with wealthy foreigners who don’t work, but simply bought a nice house on OC, sometimes as a third or fourth house.
With all the homeless people, housing crisis and companies and people moving out of California largely because of government policies I'd say the government is doing a bad job.
If Microsoft doesnt need to pay taxes, then I shouldn't have to either. Or we all pay.
> Make sf great again by pushing apple out.
So the current status of SF must mean the whole state is like that? You started off the sarcastic note but switched to saying seriously, thanks for the sweeping statement.
> Actually maybe this deal will make apple move to Texas.
Eh, people leave for no individual income tax then get hit by the even higher property taxes.
Most tech workers will be paying 9.3% in CA State Income tax, let's assume they move to Texas with a $150k job. That's $13,950 fewer taxes paid on income to CA.
Moving to Texas they'll pay about an average $2263 more in property Taxes to TX. Probably a bit more realistically so let's say $4000 since they'll probably be buying property that's above the average price. That's still around a $10k/year raise, with lower cost of living and lower crime, and that's assuming they didn't negotiate a raise which is unlikely.
As far as the $2263-4000 difference in property tax the first year, where are you getting that? Texas’ property rate is about 2.12% of market value, forever (it can be more or less, depending on local programs and school districts, but is usually around there) California’s is 0.77%-1.07% the year you buy and is essentially frozen forever. So a $500k house in TX (which is _no longer_ enough for an in-demand Austin or Dallas neighborhood) will often carry the tax tag of a $1m CA home. An $700-1m house in TX (which _is_ where a home in an in demand Dallas neighborhood begins to start) carries roughly the tax burden of a $1.4-2m CA home.
That’s a lot more than people expect! And your payment will be increasing, sometimes significantly, forever!
The California state income tax on a gross of $150k would be $10730, not $13950. Furthermore, the deductions come off the top marginal rate, so if you are taking the standard deduction, maxing out your 401(k) contributions etc knock several thousand dollars off that figure.
I won't argue that California isn't squeezing out lower incomes. That much is clear. But you're overestimating what that income is. Lower income families leave California because of housing costs, not because of income taxes. The median California household owes < $1000/yr in state income taxes.
Yes, people talk about California a lot, but only because it’s such a clear A/B test result. It went from being a prosperous red state to being a dysfunctional blue state within a single generation.
A better response is to spell out your disagreement so that I can understand it without having to read a book.
You think that ending this deal will make Apple move to Texas? Lol, fat chance, the people that work for Apple are among the very few that can actually afford to live in and enjoy the Bay Area
It's worse in SF, but you can still see those RV caravans behind the Cupertino target. It's the same housing crisis happening across the bay.
1. Homelessness: 6 of the 10 cities with largest homeless population are in Cali. We’ve all been to SF, last time I was there a homeless person literally opened his pants and shit in front of a family restaurant (we all had to leave). So it’s probably the worst in this state compared to all states in US.
2. Housing market: Easily the Bay Area is the worst in the US, probably worst in the entire world to be honest. Entirely self inflicted.
3. Crime: it is NOT NORMAL to have to leave your windows and trunks open when you park to stop criminals from breaking your cars. For the brief period I lived in Seattle, I realized people can just park a car and leave it like that in Seattle, while in sf I’m perpetually paranoid.
For this level of government service we have to deal with the highest taxes seen in this country and plans to consistently increase taxes. A bad joke, if Apple ran the government they’d do a better job tomorrow.
2. This is largely a city-level problem. The state of California is trying to solve it. The cities are NIMBYs and always want someone else to house all the people.
3. This sounds like an SF problem. Again, I don't live there anymore. Keep in mind that less than 3% of the population of California lives in SF.
You're right sf is worse.
LA used to be better. Less homeless people. Its largely getting worse and going in the same direction as sf.
It won't ever be as bad as sf because la is simply not dense enough. However the underlying problems are all there and it's getting worse. Santa Monica used to be much nicer. SF is the direction LA is heading towards.
Source: former NY state resident, the shit flowed downhill from the city, and we all suffered.
Crime is not an issue. Seriously. It’s not. It’s still at historic lows. Stop pearl clutching. Regardless, the SFPD (and cops in general) do not stop crime. Decades of blank checks, and nothing changes except more lawsuits. Fuck the cops.
In all seriousness, if people think it's a problem telling them "it's all in their head" isn't an effective argument.
Dismissing legitimate concerns with abstract (to them) statistics will only drive away the people you most want to reach. The statistics are made of millions of individual perspectives.
thats why they’re not really leaving
buy $10mm worth of 30 year US treasuries today and make $500,000/yr, only paying federal income tax on that
its really not that hard.
(core inflation is lower than the treasury rates right now, and for things that rise faster in sure you’ll figure out how to buy orange juice.)
and entrepreneurs have so many deductions against their income its insane, only high earning wage workers have the issue but think their situation just gets worse as they get richer when thats not really the case
Seriously. This state has become such a shit place to live it doesn't deserve anymore taxes.
Actually maybe this deal will make apple move to Texas. It must be some sort of elaborate plan by those extreme geniuses in Sacramento. Make sf great again by pushing apple out.