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John Thomas Financial CEO Thomas Belesis on businesses and the wealthy leaving states with higher taxes for low-tax states such as Florida.
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-- before president Sarkozy looking to leave France and go to Great Britain on top of the French actor -- we look at to leave.
France and -- Russia but you know what it's not just hedge funds that was the headline out today it's not just hedge funds Wall Street -- leading.
I'm seeing big powerhouses like Goldman Sachs setting up shop -- and low tax states you know Raymond James -- -- bank T.
Rowe Price.
But the thing is pending shops do business in this -- You know that's a great question please and I'll tell you I think you can do business Wall Street what they mean trading -- -- -- I think if you can do business and -- it right and it has gone -- to the point that the regulatory environment so burdensome.
That some of the course that they have to you know lay out.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You know you have some people in some countries look at that Dubai for a second OK and let's you know out of you know our -- he.
But they have -- songs that have zero taxes for fifty yes fifty -- fifty yes which attracts so much business.
To that particular it's the center of the universe of people coming do business was -- a business plan.
You might notice that the -- I mean certainly hurricanes Citi listened downtown Manhattan my brother in law's a fireman I come from a long family of firemen have got fireman and I am like.
They've been saying listen to reason to flooded downtown it's because that's basically landfill and in the FDR drive was built on landfill.
Coming in from you know the blitz from -- -- eight to 34 street.
So it's underwater -- -- a Wall -- -- saying you know let's say to themselves hey another hurricane hits we'll be flooded again -- -- the Federal Reserve central in their offices to planet than there.
The big also -- -- you're -- you know thousand aberration hasn't been -- but in -- -- -- And factor into the kitchen making -- doesn't it's not -- gonna get -- -- -- static -- that.
You know I don't think so you know when 9/11 happened you had a choice right that the leave down the companies did -- downtown they did.
But you know a lot of companies to make a decision to stay right because you're not gonna leave because of -- -- something you know like that.
What happened some people would -- some people not right we -- we decided to stay.
But I don't think the Middle -- -- patriotic reasons that in also you know we'd -- downtown and we believe you know that's a great area for businesses and you know what I'll -- downtown and I won't be but it's definitely Smart to -- thinking of Lehman.
No whatnot but would you ever -- through low tax state no we definitely would look to set up another office in a low tax state.
Not war but how would this that a lot right now that's just look at especially Florida could I think -- -- -- -- -- so it's a joy to be with you within Tara Wall Street movie got it there policy tip that was it through to -- -- right thank -- time period time next up.
