Carl Icahn Is Said to Be Moving His Home and Business to Florida

The video discusses the impact of the SALT limitation on tax deductions, particularly in high-tax states like New York. It highlights Florida's aggressive tax strategy to attract wealthy individuals by offering tax breaks. The discussion also covers the challenges faced by New York in retaining its high net worth residents and the potential for policy changes to address these issues. Despite concerns about a mass exodus to states like Florida and Texas, the video suggests that such a shift is unlikely due to the established financial infrastructure in New York.

What challenges do New York and other states face in retaining high net worth individuals?

What is the current status of efforts to address the SALT deduction issue?