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Originally Posted by Cali Panthers Fan
You are correct, but only to a certain degree. Honestly, private health insurance and private education cost an incredible amount of money in the U.S. If you have several children, your costs could easily be $100 K for a year. I will say that if they're making that much money, they aren't going to worry about a few hundred thousand dollars difference over the quality of life factors. There's just a tad more culture in New York compared to Florida. In that sense the extra taxes become irrelevant to a large degree as well.
Besides which, acquiring wealth is just the first part of the game. Maintaining wealth by making smart purchases and investing well, is far more important long-term than what the taxes are.
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$100K seems high but I guess you are including private school in there to. In that case yeah you could easily spend that or more. Which doesn't even begin to include saving for college.
You are right though, lots of super rich people choose to live in California and NY, the highest tax states. But a ton of athletes live in Florida and Texas for the very reason of low taxes.