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.
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]
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.
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.
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.
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.
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.
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...