As California and Washington advance wealth tax proposals, ultrawealthy individuals are relocating to Miami, Palm Beach County, and Naples, where Florida’s lack of state income, capital gains, and wealth taxes offers substantial savings.
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Locals priced out, billionaires stay billionaires.
Down here the joke writes itself. Another Gulfstream lands, another mansion rises behind a hedge, and my street still floods after twenty minutes of rain. No income tax, sure. Also no sidewalks, no buses, and a fire department staffed by bake sales. They saved a fortune. I saved a pothole. We both call it paradise.
