Quote Originally Posted by Johnnny5 View Post
The phrase "There's no such thing a free lunch" applies here. Just about all the states without an income tax have increased taxes in other areas. Whether that's in higher property taxes, sales taxes, etc. So, moving to these states to lower one's tax burden typically only benefits those with exceptionally high incomes.

Honestly, what I would rather see are state income taxes totally abolished and the Federal government apply an across the board flat rate of 5-7% that reverts back to the individual states where the taxpayer resides.

This would drastically simplify income taxes, and it would end this game that some states are playing trying to the havens for the tax dodging rich.

The thing I find totally ridiculous with Icahn's move is the man is 84 freaking years old and worth over 20 billion dollars. What possible need is there to lower your tax burden by a couple percentage points at that point in your life? He can't spend it and can't take it with him, but doesn't want to pay the extra few points that he owes? The level of greed that implies is sickening, and just boggles my mind.

His net worth is centered on the value of his company,it is not like he has $34 billion in cash stuffed in a sock.

The markets drop so does his value.

His age has little to do with it,outside of what he said that he wanted to retire in a warmer climate but he was not ready to retire.But even when he passes his company will live on and it is still his responsibility to look out for its interests long term.

He offered his employees a salary equivalent to a years wages plus $50,000 to relocate with him,or the option of not objecting to the unemployment claims if they choose not to or $450 a month.

In his day Rockafeller was worth $384 BILLION to which his son donated $300 billion to causes.

You can always start a company and donate all of the profits to show you are not greedy.

That is kinda the whole purpose of going into business is striving to be rich,no different then the hundreds of millions playing the lottery every week,are they also looking for greed?

Detroit experienced the down side of a lack of investment,which is more preferable the down side or upside?