"They've driven out all the rich people [in Connecticut]. California is doing the same thing. I know a lot of rich people who have left California. I think it's really stupid for a state to drive the rich people out. … They are old, they keep your hospitals busy, they don't burden your schools, police departments or prisons. Who wouldn't want rich people?"

-Charlie Munger, the executive known as Warren Buffett's right-hand man at Berkshire Hathaway, in an interview with CNBC last week in which he was asked (in the aftermath of Amazon’s decision to cancel its plans to develop a New York City headquarters) whether some cities and states need to make their tax structures and regulations more attractive to wealthy individuals and businesses.