Fisher Investments Moves from WA to Texas Over Taxes (Bellingham: real estate, 2015)

[MtnSurfer]

Interesting turn of events after the recent capital gains tax passed. Could it be just the beginning of similar corporate moves?

"Fisher Investments is relocating its headquarters from Washington state to Texas in the wake of a court ruling that paves the way for a capital gains tax in Washington.

The wealth and investment management firm announced Friday it was moving to Texas, where it already has an office in Plano, a suburb of Dallas. Since 2015, Fisher Investments’ headquarters have been in Camas, Wash." -- https://www.barrons.com/advisor/arti...20of%20Dallas.

This is Deja vu when looking at some other west coast companies leaving CA for similar reasons. It's what also what drove Fisher Investments to relocate from the Silicon Valley to WA originally.

"Fisher Investments says it manages nearly $200 billion for private investors, institutions and retirement plans. Formerly headquartered near Silicon Valley, Fisher announced plans to open a major Clark County office in 2008. At the time, founder Ken Fisher said it wanted to move away from the high-cost real estate in the Bay Area to a more business friendly locale in a state without a personal income tax." -- Protesting WA’s capital gains tax, Fisher Investments says HQ moving to Texas

Derek

[rkcarguy]

WA gov't seems to want to be like CA. We're going to bleed businesses and likely residents as well.
With the crime, drugs, homeless mess, high taxes, high housing costs, and over-crowding of the things people move here for, what's left love? Nothing.

[texasdiver]

Originally Posted by rkcarguy

... We're going to bleed businesses and likely residents as well.


...over-crowding of the things people move here for

Well, which is it? And which one is the bad thing? bleeding residents or overcrowding?

They can't both be true.

[StealthRabbit]

Originally Posted by texasdiver

Well, which is it? And which one is the bad thing? bleeding residents or overcrowding?

They can't both be true.

as per poster... THIS is bad...

WA gov't seems to want to be like CA. We're going to bleed businesses + and over-crowding of the things people move here for

Perfect if your state, (CA) can afford to keep all these people who now do not have jobs or housing.

Coming to a WA near you.

Texas is all happy, but there is very little public land / free outdoor activites in TX.
Not everyone will be happy. (High net worth Bosses / business owners will be VERY happy, as work / personal success is their sole purpose, and they need to flaunt it.)

[MtnSurfer]

Originally Posted by StealthRabbit

as per poster... THIS is bad...

Perfect if your state, (CA) can afford to keep all these people who now do not have jobs or housing.

Coming to a WA near you.

Texas is all happy, but there is very little public land / free outdoor activites in TX.
Not everyone will be happy. (High net worth Bosses / business owners will be VERY happy, as work / personal success is their sole purpose, and they need to flaunt it.)

In America's capitalistic society of supply and demand economics (real estate as a major factor), there will always come a tipping point. That is where the perceived and real benefits of living somewhere are no longer worth the price of admission. Having worked in real estate, I saw this 'market approach' firsthand. All economic factors including taxes will push on local citizens until they're had enough. It just so happens that CA has a much higher threshold than most states. It's greater staying power is based upon many other fringe benefits such as near perfect, mild weather year round, excellent higher education options, beautiful beaches, mountains, redwood forests and so on. But the powers that be along with market factors cannot push people forever. Many will move on as Ken Fisher did from the Silicon Valley to Camas and now to Plano/Dallas.

Washington, like Oregon and other western states, have their own tipping points. Oregon's population recently declined for the first time in 30 years. While neighboring Idaho continues to expand... But that won't last forever. WA has its own plus/minuses like everywhere else. For some, this was their tipping point while for others not so much. So, market forces will continue pushing, pushing, pushing.... There will come a breaking point for others as well though not everyone. Whatever that last straw is, it will vary per individual/family. If the 'slippery slope' theory holds true and WA politicians use this capitol gains tax as a gateway drug to greater taxation (like sharks tasting blood), that could hasten the move for others riding the rail considering an escape to <TX, FL, fill in the blank>.

Derek

[StealthRabbit]

Washington state tipping point for washingtonians has come and gone many years ago. Those who are still gainfully employed can hang on a few more years.

Ken Fisher is an opportunist, and he clearly illustrated and exercised that by coming from south Bay area a few short years ago to SWWA. His dialogues read just like every other transplant, and his commitment is mirrored many times over. Same story, different actors. Easy come, easy go. Leave carnage behind? Who cares, just do what's best and brag able for YOU.

As mentioned, there's no love lost in Ken's mind. A chapter best forgotten, the sooner the better. Will be the same story for many others on that similar trajectory. It was great while it lasted, but we're now on to far greater things (for them personally) for their image, for their business. But mostly for themselves.

[jabogitlu]

I have no idea who Fisher is. As a Washingtonian I'm more concerned about the quality of our roads, education, healthcare system, social safety net, affordable housing, etc.

So, bye Fisher. Peace!

[rkcarguy]

Originally Posted by MtnSurfer

In America's capitalistic society of supply and demand economics (real estate as a major factor), there will always come a tipping point. That is where the perceived and real benefits of living somewhere are no longer worth the price of admission. Having worked in real estate, I saw this 'market approach' firsthand. All economic factors including taxes will push on local citizens until they're had enough. It just so happens that CA has a much higher threshold than most states. It's greater staying power is based upon many other fringe benefits such as near perfect, mild weather year round, excellent higher education options, beautiful beaches, mountains, redwood forests and so on. But the powers that be along with market factors cannot push people forever. Many will move on as Ken Fisher did from the Silicon Valley to Camas and now to Plano/Dallas.

Washington, like Oregon and other western states, have their own tipping points. Oregon's population recently declined for the first time in 30 years. While neighboring Idaho continues to expand... But that won't last forever. WA has its own plus/minuses like everywhere else. For some, this was their tipping point while for others not so much. So, market forces will continue pushing, pushing, pushing.... There will come a breaking point for others as well though not everyone. Whatever that last straw is, it will vary per individual/family. If the 'slippery slope' theory holds true and WA politicians use this capitol gains tax as a gateway drug to greater taxation (like sharks tasting blood), that could hasten the move for others riding the rail considering an escape to <TX, FL, fill in the blank>.

Derek

And, that tipping point/reasons are different for each person.
Broken policy has negatively affected nearly every aspect of my life here in Bellingham, leaving only family as a reason to stay. Even my family, only one person doesn't want to leave (yet). The rest of us would be packing tomorrow if this last member would get onboard.

[rkcarguy]

Originally Posted by jabogitlu

I have no idea who Fisher is. As a Washingtonian I'm more concerned about the quality of our roads, education, healthcare system, social safety net, affordable housing, etc.

So, bye Fisher. Peace!

I'm nowhere near even upper middle class, but this is a wrong attitude. Taxation has a bell curve of success, we need to have some, so we're not a free tax haven for the nations top money. But you don't tax so high that it chases all the wealth away and you end up with a 10% tax on nothing. Unfortunately, it won't play out that way, empty coffers will result in the taxes simply be applied downward on the income scale into what's left of an already struggling middle class, further eroding the tax base there.

[jabogitlu]

I was born and raised in a pay-as-you-go, don't tax the wealthy state. The transportation, the healthcare, the education, the housing, are all extremely subpar. I'll pass.