Elon Musk moves to Texas–California to LOSE Tens of Millions in Tax Revenues

The very rich are giving up on California.  Could the proposed added tax on those earning over $10 million a year be the cause of Hewlett Packard leaving?  Now we have one of the richest men in the world—worth tens of millions in tax revenues each year to Sacramento, leaving for Texas.  Elon Musk is no dummy, why pay money to a government that wants your business shit down?  Why pay 13% of your income to a failed, corrupt government.  The money not given to California will now be used to invest in more facilities and the hiring of more people.  Texas gets the jobs, California gets the unemployed.

Elon Musk moves to Texas

Emily Hoeven, WhatMatters, 12/9/20 

Speaking of departures, Tesla CEO Elon Musk announced Tuesday that he has moved to Texas — months after he threatened to do so amid a showdown with Alameda County over coronavirus restrictions. Though Tesla still has an extensive footprint in California, Musk in October moved his foundation to Texas and will open a new car plant there next year. He’s the latest Silicon Valley mainstay to shift some operations to the Lone Star State — last week, Hewlett Packard Enterprise unveiled plans to move its headquarters from San Jose to Texas. It’s a trend that could continue as California expats pour into Texas, many of whom cite liberal politics and high taxes as main reasons for the move.

It is, however, worth noting that Tesla has financially benefited from selling hundreds of millions of dollars in California emission credits to other carmakers.

About Stephen Frank

Stephen Frank is the publisher and editor of California Political News and Views. He speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows. He is a fulltime political consultant.

Comments

  1. Brown, Slick Newsom, Harris, and the rest of the Democrat liars gave him close to a Billion long term in tax breaks.

    The Democrat hierarchy has been used and YOU THE TAXPAYER have been had. Marxist Democrat Policies are long term failures.

    The smart money is leaving the state, and the trickle is now a torrent.

    Hey you, you know you who voted Democrat. Every dollar leaving the state now falls on the rest of us. Still think you are so smart?

    Gezz…. Stupid is as Stupid does.

  2. It’s no problem, the “Liberals” will be more than happy to kick in a few more dollars.

  3. Watch out taxes rise. Cuomo just said he wants to raise taxes in NY !!!!

    Dems will follow each other exactly.

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