"Billionaire Carl Icahn is planning to move his home and business to Florida to avoid New York's higher taxes, according to people familiar with the matter," Bloomberg News reports.
FutureOfCapitalism earlier covered Paul Tudor Jones to Florida (2017, from Connecticut), Leon Cooperman's move to Florida (reported in 2016, from N.J. or N.Y.), and David Tepper's move to Florida (reported in 2016, from New Jersey). And a 2017 post was headlined "Florida Financial Boom."
As I concluded the dispatch about Tepper's move:
My favorite example of stunning cluelessness on this front was the February 15, 2013, New York Times article by James B. Stewart, which appeared under the headline "The Myth of the Rich Who Flee From Taxes." The name of Mr. Stewart's Times column, ironically enough, is "Common Sense."
Thanks are due to Mr. Icahn for the reminder to New York policymakers that capital and the people who control it are mobile. The capital and the people who control it will flow to places where it and they are well treated. And the capital and people who control it will flow away from places where they are not well treated.
