There has been much discussion about California’s shortcomings and the rise of the Sunshine State. While California has incredible natural beauty, it falls short in governance, infrastructure, and tax burdens. Florida, by contrast, has a balanced budget, no income taxes, and is expected to soon eliminate property taxes for most residents. California, meanwhile, is pursuing a confiscation tax that initially targets billionaires and their global wealth, including unrealized gains. One estimate of the wealth that has left the state due to the proposed tax policy now hovers around $2 trillion.
Observers predict that once anticipated revenue from the confiscation tax inevitably falls short of rapacious government demands, state officials will target other demographics and services to levy fees and new taxes, eventually hitting the masses as the money runs out.
Today, in an article published on WSJ.com, it was revealed that Andreessen Horowitz, perhaps the world’s most prominent VC, has opened a new office in Florida, ostensibly to support defense startups…