Let's look at what a 1% US wealth tax would mean for Jeff Bezos. He founded Amazon 26 years ago. A 1% wealth tax means he keeps 99% of Amazon stock each year. .99^26 = .77 = 77% So he'd currently be worth $145B instead of $188B. You're saying he would have left the US?
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I'm saying that if moving to California makes it even a little more likely that you qualify for a wealth tax of 1%, it's the rational thing to do. Because the interest you'd earn on the extra accumulated wealth would more than make up for a 1% wealth tax. Wealth compounds too
Of course, but it compounds at exactly the same rate in every state. So "a little more likely" is not enough. You'd have to be convinced that the ultimate outcome is more than 2x better.
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The issue is not tax rate, but how tax are being used, if you can see a real improvement in people's quality of life you will be willing to pay more taxes, but politicians keep throwing away money in a very dumb manner in the US and in the whole world, government system are broke
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Given other underlying psychological concerns of safety and instability at play - fires, blackouts, crime, pandemic- even the most excited to optimize for outcomes may be subtly shifted in their calculus to pick accessible to Silicon Valley but not there. See Denver/Seattle
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