Musk Tesla leave Delaware to Texas and take tax revenue with them

[Luvnit2]

Tesla shareholders vote to reinstate Musk's $56B pay package
Tesla shareholders voted to reinstate Musk's $56 billion pay package and gave a green light to reincorporating the company in Texas

Musk also moved Space X to Texas in 2022 taking with it 9 million.

Is SF next, Musk moving "X" to Texas?

It sure appears a bunch of major businesses are leaving California, NY, Delaware and others in recent years. The big question these states have to answer is how we replace their tax revenue and why are they leaving.

It is not just voters leaving behind blue states, it is individuals like actors, actresses, sports figures and very wealthy guys like Sean Hannity. I see a major issue for sanctuary cities and states in the coming months and years due to Biden and Democrats open border policy pushing illegal immigrants seeking asylum to the sanctuary cities.

States and cities can't print money like the US Government does, all they can do is borrow and borrow at high interest rates or cut their budgets at the cost of safety (police) or money previously earmarked for those living in poverty.

It will be interesting to see how these cities move forward financially and politically in the coming years.

[NATI BENGALS]

Something that kind of stuck out to me recently.

Everybody complaining about the rising costs squeezing the lower and middle class.

And we witnessed first hand the richest man in the world buy a website that was free to use and then begin experimenting with various ways to charge people to use it.

That’s the world we live in in a nutshell imo.

Thanks Biden.

[Arturo Bandini]

(06-14-2024, 01:41 AM)NATI BENGALS Wrote: Something that kind of stuck out to me recently.

Everybody complaining about the rising costs squeezing the lower and middle class.

And we witnessed first hand the richest man in the world buy a website that was free to use and then begin experimenting with various ways to charge people to use it.

That’s the world we live in in a nutshell imo.

Thanks Biden.

He's not the richest man in the world anymore. It's a dude of ours who bascially can own the whole France if he wants to.

He sells luxuries which is a good resume of our timeline. 

How to buy things you don't need with money you don't have. 

[NATI BENGALS]

(06-14-2024, 06:17 AM)Arturo Bandini Wrote: He's not the richest man in the world anymore. It's a dude of ours who bascially can own the whole France if he wants to.

He sells luxuries which is a good resume of our timeline. 

How to buy things you don't need with money you don't have. 

True. I think he was at the time though. That new 56 billion pay package might push him back up there though.

That is funny the other richest guy in the world selling luxury items. Of which I own none. And I don’t Twitter either

[Goalpost]

(06-14-2024, 07:30 AM)NATI BENGALS Wrote: True. I think he was at the time though. That new 56 billion pay package might push him back up there though.

That is funny the other richest guy in the world selling luxury items. Of which I own none. And I don’t Twitter either

I don't think the package at issue was new.  His pay package was approved in 2018 and the judge was trying to alter it retroactively.  This was a package that was approved by shareholders then.  The judge called for a re-vote.  And the vote went 77 percent in favor Musk again this year.  I'm not certain how that would have been worked out if that went the other way because this dealt with several years of Musk's earnings already paid.   

[*pally*]

You do understand that Delaware is the country’s most business friendly state in the country which is what companies incorporate there despite doing no actual business in the State?

Elon is mad because a judge ruled his compensation package was illegal after minor stockholders sued. We will have to see if he agrees with the new one. Most Tesla stock is still in the hands of Musk and his family and friends

[Goalpost]

(06-14-2024, 07:57 AM)pally Wrote:  

Elon is mad because a judge ruled his compensation package was illegal after minor  stockholders sued.  

 I believe it was just one stockholder who owned 9 shares total of Tesla stock who originated the suit.  

[Arturo Bandini]

(06-14-2024, 07:30 AM)NATI BENGALS Wrote: True. I think he was at the time though. That new 56 billion pay package might push him back up there though.

That is funny the other richest guy in the world selling luxury items. Of which I own none. And I don’t Twitter either

That's why we are losers mate  

I just don't relate to golden shit. I don't even have a watch. 

[Luvnit2]

(06-14-2024, 07:57 AM)pally Wrote: You do understand that Delaware is the country’s most business friendly state in the country which is what companies incorporate there despite doing no actual business in the State?

Elon is mad because a judge ruled his compensation package was illegal after minor  stockholders sued.  We will have to see if he agrees with the new one.  Most Tesla stock is still in the hands of Musk and his family and friends

Can you elaborate the criteria used making Delaware the friendliest business state hopefully something recent in past 18 months as we all know things are changing rapidly for both businesses and individuals?

Does it matter why Elon left Delaware and took his tax base paid to Delaware with him? What is the tax base for businesses in Delaware?

[Sociopathicsteelerfan]

(06-14-2024, 01:41 AM)NATI BENGALS Wrote: Something that kind of stuck out to me recently.

Everybody complaining about the rising costs squeezing the lower and middle class.

And we witnessed first hand the richest man in the world buy a website that was free to use and then begin experimenting with various ways to charge people to use it.

That’s the world we live in in a nutshell imo.

Thanks Biden.

Twitter/X is still free to use.  Not sure what you're kvetching about.

[*Nately120*]

Maybe he can work his cyber truck magic on their fatally flawed power system.

[FormerlyBengalRugby]

Always fun to watch people tell the second richest person in the world how to manage his money and businesses...

[HarleyDog]

(06-14-2024, 07:01 PM)FormerlyBengalRugby Wrote: Always fun to watch people tell the second richest person in the world how to manage his money and businesses...

We're going to tax the rich! Go get him. Wait... He's leaving? Damn, Tax the poor and lets get some of our money back. Yeah, pretty much.

[FormerlyBengalRugby]

(06-14-2024, 07:15 PM)HarleyDog Wrote: We're going to tax the rich! Go get him. Wait... He's leaving? Damn, Tax the poor and lets get some of our money back. Yeah, pretty much.

It is always fun spending someone else's money...

[HarleyDog]

(06-14-2024, 07:18 PM)FormerlyBengalRugby Wrote: It is always fun spending someone else's money...

Exactly. Every time one of those smart ass politicians gets up on stage and acts like they're going to tax corporations to pay for their dumbass ideas? This will happen. I would say it would become a trend, but I would be too late because it's happening more often. This is political FAFO, and I love it.

[NATI BENGALS]

(06-14-2024, 12:49 PM)Sociopathicsteelerfan Wrote: Twitter/X is still free to use.  Not sure what you're kvetching about.

You act like I’m making it up. Even if it never went through or the idea failed. My gripe still stands. The richest guy in the world bought something that was free to use and tried to start charging people to use it.

If you like the idea that the richest guy in the world tried to nickel and dime us more that’s cool.

https://variety.com/2023/digital/news/elon-musk-charge-all-x-twitter-users-fee-1235726693/

“We’re moving to having a small monthly payment for use of the X system,”

[HarleyDog]

(06-14-2024, 09:08 PM)NATI BENGALS Wrote: You act like I’m making it up. Even if it never went through or the idea failed. My gripe still stands. The richest guy in the world bought something that was free to use and tried to start charging people to use it.

If you like the idea that the richest guy in the world tried to nickel and dime us more that’s cool.

https://variety.com/2023/digital/news/elon-musk-charge-all-x-twitter-users-fee-1235726693/

“We’re moving to having a small monthly payment for use of the X system,”

Sounds like a smart move. Reduce or eliminate bots. You know, that Russian disinformation and sensorship thingy. So, as I sit here and do not realize what's wrong with this, I know that things are not free for long in technology. Microsoft proved that with Excel. Bill Gates made that program free until people and businesses relied on it. Then put a price tag on it, which, was cheaper than restructuring your whole business with products that didn't hold a candle to your current platform. 
Google tried to make a similar product. But, anyone who ever attempted to use it should agree, that it didn't come close.

[NATI BENGALS]

(06-14-2024, 09:28 PM)HarleyDog Wrote: Sounds like a smart move. Reduce or eliminate bots. You know, that Russian disinformation and sensorship thingy. So, as I sit here and do not realize what's wrong with this, I know that things are not free for long in technology. Microsoft proved that with Excel. Bill Gates made that program free until people and businesses relied on it. Then put a price tag on it, which, was cheaper than restructuring your whole business with products that didn't hold a candle to your current platform. 
Google tried to make a similar product. But, anyone who ever attempted to use it should agree, that it didn't come close.

Kind of his own fault. He lost a bunch of ad revenue by pissing people off.

Probably backed off charging people so he can keep as many users as possible so he can use the data to train his AI.

[Arturo Bandini]

(06-14-2024, 07:15 PM)HarleyDog Wrote: We're going to tax the rich! Go get him. Wait... He's leaving? Damn, Tax the poor and lets get some of our money back. Yeah, pretty much.

Let them leave ... Another one will feed the void.

[Luvnit2]

(06-15-2024, 05:46 AM)Arturo Bandini Wrote: Let them leave ... Another one will feed the void.

Will they? If so, why is NYC and California in dire financial situations?

There comes a point when individuals and companies are overtaxed, and they have a choice to pay a lot less in taxes to remove themselves from that situation.

I guarantee you Tesla leaving Delaware is a big deal for their income stream.

Of course, we were told Delaware is the friendliest state to do business in the US. Hopefully we will find out soon who ranked them, and the criteria used to rank them best.

5 Most Business-Friendly States in the United States (2024) (winfranchising.com)

I don't see them on top 5 on this list, but again lots of different criteria used so Delaware may be on another list at #1.

As far as filling the void, drive thru areas in SF and show us all of the businesses that have left under Biden and Newsome that were replaced by others to fill the void.