Jason Calacanis
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Appearances Over Time
Podcast Appearances
But that's been good, right, for Austin, you guys would say?
Incredible.
Incredible.
By the way, the high end of the market in London has basically turned over and collapsed, Sax, to your point.
By the way, the high end of the market in London has basically turned over and collapsed, Sax, to your point.
They introduced the stamp tax, which I think is equivalent to this tax that the New York City mayor is proposing.
They introduced the stamp tax, which I think is equivalent to this tax that the New York City mayor is proposing.
And if you look at London as a guide, the real estate market just bid it at the high end.
And if you look at London as a guide, the real estate market just bid it at the high end.
They're profitable to the city.
They're profitable to the city.
Yeah.
Yeah.
London also did something else, which is that they essentially crippled what's called non-dom status, which is the big tax arb if you're moving or parking assets in London.
London also did something else, which is that they essentially crippled what's called non-dom status, which is the big tax arb if you're moving or parking assets in London.
And to your point, Sax, what did all the rich people do?
And to your point, Sax, what did all the rich people do?
They just redirected themselves to Zurich, to Lugano, to Milan.
They just redirected themselves to Zurich, to Lugano, to Milan.
and they took advantage of more hospitable tax policy in other places.