If asset exposure anchors residency, why do so many high-net-worth individuals domicile in Florida while retaining Manhattan real estate? If place attachment is sticky, why do tax receipts shrink disproportionately in high-tax jurisdictions after rate hikes? And If a 2–3% delta is meaningless, why are entire estate planning industries built to avoid it? Is it possible the wealthy aren’t irrational, but mobile in ways you fail to account for?
That’s literally the point I made man. Millionares aren’t going to leave New York ASSEST WISE because that’s how they make their money. And guess what? They still have to pay taxes on those assets. So unless they start selling their property (terrible idea) they are staying in New York. Get this capitalists are always making the smart decisions mindset out of your head.