2021: What does Charlie think about Californians moving to avoid high taxes?
BECKY QUICK: Charlie, there was a question that came in specifically to you on the tax issue. Over the years, and with emphasis in 2020, we’ve heard people leaving California for various reasons, such as high cost of living, high taxes, et cetera. I understand that you believe it’s dumb for states to have policies and laws that provoke rich residents leaving, but what are your thoughts on those people leaving? What keeps you in California?
CHARLIE MUNGER: Well, that’s a very interesting question. I frequently say that I wouldn’t move across the street to save my children 500 million in taxes and stuff. So I have that, that’s my personal view of the subject, but I do think it is stupid for states to drive out their wealthiest citizens, the old people that don’t commit any crimes, they donate to the local charity. Who in the hell in their right mind would drive out the rich people? I mean, Florida and places like that are very shrewd and places like California are being very stupid. It’s contrary to the interest of the state.