In 1976, the Steve Miller Band released its hit song “Take the Money and Run.” Fifty years later, that message appears to resonate with some of America’s wealthiest individuals who are relocating their families and businesses from high-tax states such as California and New York to lower-tax, business-friendly states, particularly Florida.
Starbucks founder Howard Schultz, for example, announced his exodus from the West Coast to Miami in a recent LinkedIn post. He and his wife, Sheri Schultz, decided to leave Seattle after more than 40 years and move to Miami for their “next adventure.”
