Shocking Tax Grab by Democrats Sends Wealth Packing

Clear Facts

• Washington Democrats passed a 9.9 percent income tax on earnings over $1 million annually.
• Starbucks founder Howard Schultz announced his family is relocating from Seattle to Florida on the same day.
• Starbucks plans a new corporate office in Nashville, Tennessee, with relocation offers for employees.

High taxes imposed by Democrats are prompting a wealth exodus from Washington state. Fiscally conservative policies in places like Florida and Tennessee attract businesses and families seeking better opportunities.

Starbucks corporate expansion to the South signals potential headquarters shift away from Seattle. Traditional values and low taxes draw Fortune 500 companies to thriving states.

“Forty-four years ago, Sheri and I made the cross-country trip from NYC to Seattle in our 1979 Audi along with Jonas our Golden Retriever.”

“We were starting a new life.”

“Sheri would be the breadwinner in the family, taking on a career in design.”

“And I started a new job on September 7, 1982, at a place called Starbucks.”

“Back then, the Pike Place Starbucks only sold whole bean coffee.”

“Today, it’s the most visited Starbucks in the world.”

“The history of the company is bound up in the very foundation, walls and floorboards of our first store in the city’s historic market.”

“The spirit of continuing forward has long underpinned our approach to life—in business, in philanthropy and most importantly, as a family.”

“For those of you who know us well, we have entered the “retirement” phase of our lives.”

“(A term we are both just getting used to.)”

“Last year we traveled to dozens of places around the world—places we were too busy to see when building Starbucks and raising kids.”

“And we have moved to Miami for our next adventure together.”

“We are enjoying the sunshine of South Florida and its allure to our kids on the East Coast as they raise families of their own.”

“Like many other Seattle-based companies, Starbucks today stands on the shoulders of the many Pacific Northwesterners who built the company.”

“They helped shape the culture, the benefits and the brand, contributing to the civic, community and public life of the city and state.”

“It is our hope that Washington will remain a place for business and entrepreneurship to thrive, creating essential opportunity for those in Seattle and the surrounding areas.”

“Over the years, as Sheri and I grew our family and built Starbucks globally, we were witness to the astonishing development of Seattle.”

“We focused on doing our part to help those at risk and facing hard times in our city.”

“In 1990, Sheri started the Schultz Family Foundation, launching critical work to help others in our community and beyond—work that has grown in scale and impact with each passing year.”

“We have entrusted the leadership of the Foundation to our dear friend Vivek Varma with a mandate to accelerate our philanthropic investments to drive meaningful change.”

“While our private family office will move to Miami, our Foundation will continue operations in Seattle.”

“We will be forever grateful for the memories made in Seattle and the relationships built along the way.”

“To the family, friends and partners who made Seattle our home for so many years, thank you.”

“To support these ambitions, we have made the decision to establish a strategic presence in the Southeast region of the U.S., and will be opening an office in Nashville, Tennessee, later this calendar year.”

“Companies across the nation recognize that Tennessee’s strong values and fiscally-conservative approach are good for business, and we are proud to welcome another Fortune 500 company like Starbucks to our state.”

Democratic tax hikes push away innovators while conservative states build prosperous futures.

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