Former Starbucks CEO Howard Schultz leaves Seattle as local lawmakers mull millionaire tax
https://www.cbsnews.com/news/howard-schultz-starbucks-ceo-leaving-seattle-washington-millionaire-tax/Open linkView original on lemmy.worldSyndicated from the fediverse. Read and engage on the original instance.
View original on lemmy.worldhttps://www.cbsnews.com/news/howard-schultz-starbucks-ceo-leaving-seattle-washington-millionaire-tax/Open linkView original on lemmy.world
8 replies
...and nothing of value was lost.
If they leave, they’ll still do business in WA, they just won’t live in WA. So, WA gets rid of all the rich residents and prices go down. Win win win win.
This is your regularly scheduled reminder that - statistically, and in aggregate - millionaire tax flight does not exist. It's a myth built on anecdotes and misunderstood stats.
For an excellent study on this, refer to Cristobal Young's The Myth of Millionaire Tax Flight.
oh no, come back
Meanwhile their new CEO will continue to commute between Seattle and California via private jet 3 times a week. Not even joking.
Alternative to CBS.
Big win for Seattle if he were to fuck off permanently. But sadly, he's just going to commute.