Carl Icahn Is Said to Be Moving His Home and Business to Florida

The video discusses the impact of the SALT limitation on tax deductions, particularly in high-tax states like New York. It highlights Florida's aggressive tax strategy to attract wealthy individuals by offering tax breaks. The discussion also covers the challenges faced by New York in retaining its high net worth residents and the potential for policy changes to address these issues. Despite concerns about a mass exodus to states like Florida and Texas, the video suggests that such a shift is unlikely due to the established financial infrastructure in New York.

What is one of the main reasons the 8.8% tax is not deductible?

• Because of federal tax laws

• State regulations in New York

• Due to the SALT limitation

• Corporate tax policies

How has Florida attempted to attract high net worth individuals?

• By offering better weather conditions

• Through cultural incentives

• Through aggressive tax breaks

• By improving public services

What is a potential risk mentioned about relocating to Florida?

• Higher cost of living

• Lack of personal income tax

• Geographical distance from other states

• Weather conditions in winter

What has been the progress on addressing the SALT issue?

• Complete resolution

• Some progress in Congress

• No progress at all

• Significant legislative changes

What is the general sentiment about a mass exodus from financial hubs to Florida?

• It is already happening

• It is unlikely to happen

• It is encouraged by the government

• It is highly likely