Companies leaving

It would be logical to assume that a big corporation would be hesitant to relocate to save money if they already have millions tied up in their local main offices but that may not be the case. When laws are passed that make it difficult for companies to operate there comes a point where they will leave. Many companies are leaving California because of strict regulations and high taxation because governors acted as if that was not possible. A recent example is New York Governor speaking to business executives. In 2022, Kathy Hochul said: “Just jump on a bus and head down to Florida where you belong… you are not New Yorkers.” Well surprise, many left and now in 2026 she is saying “Maybe the first step should be to go down to Palm Beach and see who we can bring back home because our tax base has been eroded,” the Democratic governor said at a forum hosted by Politico last week. The latest proposal is that the New York state estate tax be changed from a progressive rate of all assets over $7.5 million to a flat 50% tax on assets over $750,000. That will not encourage rich people to move to New York.