January 1, A Growing Number of Billionaires Are Relocating – What’s Driving the Shift?

Wyatt’s Take

• Starbucks founder Howard Schultz is the latest billionaire leaving Seattle for Florida amid Washington’s new millionaire tax push.
• Schultz bought a $44 million Surfside penthouse after 44 years in Seattle; his move coincided with the state House passing a 9.9% tax on incomes over $1 million.
• Critics say tax hikes are prompting wealthy residents and businesses to relocate to low-tax states like Florida and Tennessee.

Schultz bought a $44 million penthouse in Surfside after 44 years in Seattle. The move came the same day the state House passed a 9.9% tax on incomes over $1 million.

• Billionaires like Schultz cite family adventures but time their exits with tax hikes perfectly.
• State Rep. Ed Orcutt warns overspending causes these tax grabs that chase away jobs.
• Even Starbucks is heading south to low-tax Tennessee for growth.

“We have moved to Miami for our next adventure together. We are enjoying the sunshine of South Florida and its allure to our kids on the East Coast as they raise families of their own,” he explained.

“The problem is overspending. There is no tax or combination of taxes that can keep up with a legislature that continually overspends revenue,” State Rep. Ed Orcutt said.

“We welcome all businesses to the free state of Tennessee. We encourage them to remember and embrace why they came here: our low tax, low regulation, pro-worker freedom environment,” said Justin Owen.

Folks in the heartland, fight for low taxes that keep jobs and families thriving right here at home.

Wyatt Matters

Real freedom means low taxes letting hardworking families keep more of their paychecks.

Read more on Daily Wire