Hi, I’m Mark Moses and this is my ninth podcast on the MuniFinanceGuy Substack. Today I want to speak to you about “Wealthy Individuals and Corporations Fleeing Cities and States With Aggressive Tax Policies”. In California — tax and unfriendly business policies have pushed out companies like Tesla, Oracle, Chevron and X. Yet the states need these companies to give them the taxes to cover up their own self-inflicted fiscal crises. We are talking about 65 billion US dollars walking out of the door in Norway when a new law taxing high-income individuals was passed a couple of years ago. If you try to leave you are subjected to residency audits, where they track your cell phone usage, credit card swipes and even veterinary bills to check if for example, you are still living in a state like New York. The media is looking at this as a financial decision, but I think that framing misses a point. Listen to the podcast for more!
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