now they're probably saying the same about tech bros/influencers etc ruining their 'peace'. I recall when Kanye went through a phase of spending his summers there on his farm making music...had half of LA & all the big names flying out every week, recall thinking 'that's a great way to stick it to the old school billionaire class there for just tax reasons' 😂
I knew a remote worker looking for a low tax place to live. Checked out Wyoming, Cheyenne, because taxes were great. Then he realized he’d have to live in Wyoming.
@@ez4039turns out we live in a society and we don’t have the right to take all the resources and leave others in poverty. Also all the bridges are in disrepair
I was born and raised in Jackson. It's punishingly expensive there for the working class. I used to work retail making less than 12 bucks an hour. I moved away for college, and then my family moved away a few years later. My friends moved away, and so did their parents. I know practically nobody there anymore because nobody can afford to live there. The normal 3BR house that my dad paid for in 1990 was I think $90k. He lost it a long time ago, but Zillow has it listed for $1.6 million. A beautiful but terribly expensive place.
@@quattrocity9620because Jessica is a bot that stole a comment and used other bots to like it's own comment so more people see it. The bot owner is hoping people see Jessica's comment, click on the profile, and click on the link in it. Where does the link go? No clue, but I wouldn't try it
Winters in North America are often more brutal than those of Northern Europe and Scandinavia. There's a reason why there's still cities above the Arctic Circle in Europe, but only small towns or villages in North America. A good reference to this is the fact that Edinburgh (a city with a metro population of almost 1M) is as far north as the village of Churchill (pop. 900) on the middle of the Hudson Bay. I live in Colorado, and we have some areas that see -45 in the winter. But we're at the same latitude as Morocco and the Strait of Gibraltar, which don't get that cold.
You can see it. Ultra wealthy in their Porsches roll by people who can’t afford shelter. They don’t look, keep the windows up, and pretend they’re not there. American story as old as time
@@garythecyclingnerd6219 buddy, you have no idea how bad wealth disparity in other nation are, hell most of eruope still has special privileges for nobility.
@@oracleofdelphi4533 Oil is false and funny still many believe that, i mean the oil export money wouldn't cover the cost of the deployment, ammunition, maintenance+ personal losses, also their far cheaper to extract oil than in e.g. iraq + oil isn't oil like Venezuela's oil or russians (in most part) isnt that good as like saudi oil. Its about influence, strategic interest like location, international order, saving humans, wanting to spread your system+++
Well, the area is one of the most incredible places on earth. Even without the tax help it would have a ton of billionaires living there. The tax friendly environment is the by product of billionaires living there and having influence in the area, not the cause.
@@Janoip To be honest, it’s just a more tame version of imperialism morphed into something that is “not imperialism” by the politicians, oligarchs, and the like, in my opinion.
People I know who work there all treat it as a seasonal gig. Make 20 bucks an hour plus room and board and tips for a summer, and then go back to college. Great deal if you're 19, but it probably wouldn't be as much fun if you're 37...
Glad someone pointed this out, most of these are college aged seasonal workers. I did it at ski resorts and also Yellowstone about 20 years ago, and for much less even inflation adjusted. I absolutely loved it!
Just pointing out that the building shown at 7:13 isn't a billionaire's home, but rather the Lake Yellowstone Hotel in Yellowstone National Park. While people do call the area home seasonally (workers who are employed and housed on-property) it is not home to billionaires. It is the most luxe hotel in the park, though, so is a good factor for wealth in the area but not a good example of a billionaire's home. I work in Yellowstone so I thought I would point that out.
Growing up in idaho, we had family friends that lived in Jackson. I knew they were wealthy but didn't realise why they lived there. They had their own plane and he had built a personal hanger off the airport in the late 80ies. I remember my dad mentioning that they sold it when he quit flying, it went for some astromical amount of money.....now I know why.
I went to Jackson for vacation a couple of years ago and our waiter at the Thai restaurant at night was our waiter the next morning at a different diner for breakfast. I can't imagine how many hours he had to work to live there
Bro, that's so weird. I have a oddly similar story. But in Seattle of all places. Went to a Thai restaurant for bruch, had a nice waiter there. Then the next day went do dinner at a Italian restaurant and it was the same waiter!! 😂😂 He told us he only did this because #1 the fancy Italian restaurant is ONLY open during the evenings, late evenings. And the Thai place is only open earlier in the day and closes around dinner time, or just after dinner time. The restaurants also weren't open everyday of the week too because they small local family owned places. So he was actually working part-full time despite having 2 jobs. Basically just working a brunch restaurant in the beginning of the day, and a fancy Italian dinner restaurant later in the day.
@@Gigaamped Annie's Thai I think was the one we went to. Was very tasty. The waiter had remembered me the next morning because I ordered the spiciest level on the menu which almost nobody does apparently
@@nicklibby3784Every one of my homeless friends have 2 or 3 jobs. It hurts me when I hear people say homelessness only happens to you if you are lazy.
Going to make for a weird summer in Jackson. No workers, or limited workers with an ungodly long commute. Side note, I like how they used a picture of Breckenridge ski resort at the end of the video.
Local here. Many who live over Teton pass has now been forced to quit their jobs, as the pass has been closed by a landslide and mudslide for the foreseeable future.
@@KillaZamii it Will be whatever individuals agree too. It's not like seasonal workers are forced to do it. Although if the price gets too expensive, resorts will just import seasonal workers from Chile, like take resorts in Tahoe
@scottyflintstone lived in lake tahoe and watched that area change rapidly over a decade ago and that idea isn't working because you still need affordable and comfortable places for staff not just in the resorts but surrounding towns to live in as well. Saying you don't have to do it works until you have rich idiots complaining about lack of staff(which they do) as areas like north lake, Jackson, etc stay in this death spiral of wealth inequality which leaves no upward mobility for those who actually want to live there
@@Mt.Dwezzy the resorts will undercut wage growth by using Seasonal workers from other countries and packing them in to the dorms (Donner Ski Ranch). Bottom line is you need a technical skill to make the $ but it will never be enough to buy a house in Jackson Hole, Tahoe, Mammoth or any other resort town. Exception: SLC as you can live in the valley and commute up to mountain
I have watched many of your videos, including jet lag the game. I also grew up in Jackson and my parents and sister still continue to struggle to call Jackson Hole home... I fully know the struggles that many middle class feel within this town. I can only hope that as property taxes increase, and houses down the street sell for $2.5M+ we can retain our property. While it was interesting growing up with the Walton, DuPont, and Koncak children, it's also disappointing seeing the valley become unaffordable to all but the most wealthy individuals. Growing up i always heard, Aspen is for people who make the cover of "People" magazine while Jackson is for people who make make the cover of "Forbes" magazine...ie. Aspen is for people who want their wealth to be known while Jackson is for people who don't.. You also mentioned instate Wyoming tuition, without mentioning the Hathaway scholarship (basically a full scholarship for instate students with a HS GPA of 3.5+... partial for 3.0 and 2.5 students) funded by oil money. This video also fails to mention that, because of that oil money, Wyoming continues to be one two states in the nation to be in the black financially. Overall I do feel this video describes the local struggles without actually interviewing those who live through the hardships and tribulations directly.
The most obvious explanation for the wealthy migration to Wyoming is the tax incentives. The state collects no personal or corporate income tax, and it has one of the nation's lowest sales tax rates (5.36 percent, compared to 8.49 percent in New York).
I live in Jackson Hole and rich people have flat out destroyed the middle class and the community along with it. Housing is utterly unaffordable. I'm leaving this year along with many many others...
Royally sucks for the people who actually want/need to live there. But it's going to be hilarious watching the wealthy figure out who actually does all the work. Or they'll just traffic in people like another commenter said. Immigration bad unless it's my cheap landscaper.
If enough normal people leave Jackson Hole there wont be enough people to run the ski resorts, high-end restaurants and other businesses those rich people rely on in order to live their rich life up there. What happens when these businesses can't secure workers anymore because the price they would have to pay to make working there attractive is more than the businesses are willing to pay?
@@jfwfreo They'll do the same thing the food industry is doing: kiosks and robots. These are insanely wealthy people. They can afford the latest tech and pay for more innovation of yet more luxury tech. No need for smelly humans.
Most low wage employees live in Victor Idaho and drive through the Teton pass to work in Jackson. But the 45 min drive just turned into two hours arter a massive landslide took out the pass
That will be fixed this Friday, actually not that big of a deal. You choose to live somewhere like this, you know the risks and challenges. And by "low wage" you mean $80 - 200k right?
I broke my leg when snowboarded in Jackson, and spent entire week walking around that little resort town, very good memories. I bought myself an expensive cowboy hat.
Wyoming also pays teachers much better than the surrounding mountain states of Colorado, Montana, Idaho and Utah. That’s why we moved here. We wanted a mountain state with higher pay and lower cost of living. And we were fortunate enough to find a beautiful place surrounded by pines that’s not in Teton or Lincoln County. Wyoming is a big state and there’s a lot of hidden gems. You just have to look for them.
That wealth gap is crazy. We're also on the similar path in INDIA. While everyone is fined for excessive use of ground water, Rich people can have huge golf course in the same area with lush green grass properly maintained in 45°c heat.
Surprising fact here: India and the US have the worst population to legislator ratio in their national legislatures on the planet. Gee. Couldn't possibly be connected...
@@doomsdayrabbit4398 It isn't just the "number" that is an issue here in the US. It is also the fact that only rich people can afford to become a legislator because they have the money for running a campaign. TV commercials, radio ads, print ads, and speaking events cost more money than a regular person can afford. These people also have connections to corporations who they sell their vote to. So they aren't representing the people who vote for them very much at all.
@@doomsdayrabbit4398India's parliament expansion has been delayed for decades because the Southern states don't want to be punished for controlling their population growth while those states in North which didn't control their population will get more political power in the parliament because number of parliament seats are goven related to state population. And, with BJP not getting majority in recent election, I don't think it's going to be done atleast for another 5 years.
I’ve lived in Jackson for two years now and watching this video was incredibly cathartic. You put into words a lot of phenomena I’ve seen with my own eyes but failed to adequately describe to outside friends. This place is like the Dubai of the US, where the rich get tax breaks and expensive food and the working class suffers. PS, fun fact, I actually lived in the employee housing unit you mentioned at the golf and tennis club my first winter out here. It was not very nice.
@@Noename-qx5rn The alternative would have been taxing extraction and investing in long-term industries before they peaked. But yes, even your hyperbolic alternative is better. They already make effectively no tax income from the rich, so all they are doing is driving up prices. A less developed and more affordable alternative is definitely way better for the average person.
It's saddening to realize how the cycle of wealth accumulation tends to benefit a small group, often leaving much of the population struggling. It makes one think hard about the potential solutions to such systemic issues.
by wealth accumulation you almost sound like they are taking from someone. the situation may not be good but surely would be worse without the billionaires
@@canalozieljoseohh, wont someone think of the billionaires. They have been so oppressed by the poors again, how dare they want actual safety protections? And don’t they know that the children yearn for the mines(those hands gotta be put to work somehow), next their gonna say they want fair wages or god-forbid, the right to unionize(disgusting plebians). Oh, wont someone please think of those poor poor billionaires
@@Strangeship1997 you really think this has something to do with the well being of the billionaires? the point is clear, would wyoming be better or worse? thats it
You can only climb up by pushing someone down. It's a pyramid - a lot more in the lower layer. This is the evil that keeps America hoping - people aspire to be like those above and crush those below to get higher, by believing falsely that those above deserve/earned it as well as those below deserve/earned it too. The false notion that hard work will get you anywhere.
Wyoming's wealthy wisens up and weaponizes Wyoming's weird ways of whisking away whalefuls of wealth for Ws, which also withholds the wealth from weaving its way to Wyoming's wider wage workers.
This is not even close to the most W-words in a title, especially considering there is multiple videos with a title that is some variation of "what is the world wide web"--and that's just something mundane without purposeful alliteration.
You appear to have missed mentioningbthe richest family in Jackson: the Rockefellers. The Rockefeller family donated over half of Grand Teton National Park to the federal government and still own the several-thousand acre Laurence Rockefeller Park and Preserve at the park's southern border.
This isn't quite true. The Rockefeller continued to own the land that is now the preserve through the 20th century, but now it has all been donated to the park.
Probably done over 100 years ago. I really doubt it would've been taxes back then. Just classic political favour if you want to be so __@@Adrian-lc6jq
The most obvious explanation for the wealthy migration to Wyoming is the tax incentives, to make it even better their migration is accepted by the locals who want little government interference.
@ileutur6863 the tax cuts should be for business, trades, and manufacturing. The things that provide economic growth. Not investments and tech. More taxs will push everything away. The oil n gas companies and companies.
@@BravoNine69 Isn't tech business? Why are you excluding tech? Tech employees many people, and unlike many businesses, pays living wages. Personally, I think all businesses should pay fair taxes, because they depend on the things taxes provide (infrastructure, healthy education populations, etc).
We need to go back to a family based economy instead of a corporate based economy. In a free market there are no corporations because the government doesn’t charter corporations in a free market.
4 minutes in and let me save you time as someone who’s been there. Jackson is one of the most beautiful places on the planet. You’re right there at the Teton mountains and like a few hours away from Yellowstone. There’s no place like it on the planet and definitely no place like it in America. There’s literally a highway that takes you in that’s like a 10/10 where you ride right next to the most jagged peaks in America as you ride past the Teton mountains, truly incredible.
Holy s**t that tax write off for the conservation easement is crazy. A charitable deduction for up to half your annual income for up to 15 years!!! Thats wild.
Of course, the deduction is limited by the value of the gift and the annual income of the donor of the conservation easement. If someone with high income donates a low-value easement, it's likely that the deduction will be written down in a few years or less. By contrast, if someone with a comparatively low income donates a high-value easement, that person may never be able to claim the full deduction, even over 15 years. Also, the deduction is supposed to be reduced by the "enhancement value" of the easement on the adjacent land of the easement donor. The bigger issue, as I see it, is people using an important conservation tool primarily to feather their nests rather than to truly promote landscape-scale open-space protection. I do think it's an abuse of easements to use them to protect back yards.
I was in Wyoming at Jackson Hole for 5 days snowboarding. It's a pricey place but man is it nice. I definitely want to go back, but I think Salt Lake City ski areas are much more affordable and easier to access.
I love how people consistently ignore the fact that investments actually do pass through an economy. Yes it’s not labor but it’s still producing benefit for society. It’s not like these people just buy gold and bury it. Look if you work in the service industry why should I pay you anything more than what your industry demands in wages? Now, if the rich (or anyone) is sheltering their wealth from taxes illegally that should be flagged. But also keep in mind that taxes are by their very nature parasitic in terms of economic benefit.
Everyone wants lower taxes. It's just that the rich can easily relocate. A Denny's waitress in California has the same exact motive to relocate, just not the capital.
I used to live in Jackson and work at the resort. I spent time living in motel rooms because the housing is so scarce. I had a lot of friends who had no option but to commute from Idaho every day, and the pass can be really dangerous in the winter, sometimes they close it which can leave you stuck in the wrong state. I loved Wyoming, it was the most naturally beautiful place I have ever been, but if I stayed I was going to 50 and still living at a subsistence level. Apparently the pass is closed at the moment because of a landslide. During Covid, I got caught in Idaho with no way back and I walked the pass from Victor, on already injured feet. It was over 20 miles mostly uphill on sludge. I was crawling at the end.
Wow, congratulations on your impressive investment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making investment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of investing? Thanks for sharing your story!
Yeah, WY is one of the few states to actually get privacy. If you want to run a business and not be a public figure, WY is great. Most people don't get it, but having yourself listed in public records where any crazy can get your home address opens you up to a nightmare. People think you need to be famous before you start getting the crazies come out, but it really takes very little. If you make anything that even a relatively small number of people enjoy, sooner or later the unhinged people come out and it gets scary fast. Happened multiple times to me and I'm no millionaire, either. Privacy = Good.
My GF worked beverage cart at a golf course in a similar situation as mentioned in the video and her wage was very low but after tips from wealthy golfers you can end up making 60-80k a year but this is in Georgia where you can golf year round. I’d imagine it’s not the same in Wyoming haha
It's because Jackson Hole is extremely pretty, has a really nice climate in the summer, and was nearly empty before the wealth moved in. The rest of the state is a hot, dry hellhole, and the whole thing turns into a frozen wasteland in the winter. You can go up in one of the central mountains and look down at hundred of miles of literal wasteland populated by little but sagebrush. The north-western corner is just different from the rest of the state. Source: My extended family lives in Green River and and uncle in Jackson Hole, and my dad's ex-girlfriend lives in Jackson in one of those 3M houses. However, he's leaving out the benefits. A lot of people make unusual money there, and many people started successful bougie businesses feeding on the wealthy. Note that the cost of living drops substantially with a 45m commute and that's little different from any metro area. It's just pretty difficult in the winter due to the ice and snow. Some of the mentioned 'towns' that may have to be abandoned are the places where you'd see highway population signs with triple, double, or even single digits. I will say one thing about conservation easements. Sooner or later they are going to need to be broken. Perpetual effect should not be allowed in modern times.
Had a client in Aspen who would drive up to the job site in a Prius, brag about how “green” all five of her vacation homes were, then hop in her Gulfstream and fly a few friends to Vancouver for lunch.
Makes sense really. Needing to be close enough to a big city so I can work 40h+ a week is the only thing keeping me from moving out into the middle of nowhere.
Dang I'm going to Jackson in a few weeks for a conference but I thought Yellowstone was the only reason somewhere so far out was chosen. Didn't know there was so much else going on 😂
It was a nice area when we family vacay'd there in the early 1970's. Of course back then we were all unaware that the area just north is a super volcano. 😅 I don't think I would have enjoyed the trip as much if we had known.
The timing of this video couldn't be any better. Just a few days ago, the main road in and out of Jackson, Teton Pass (WY state highway 22) experienced some crazy landslides and is currently closed without a hard date on when it will be reopened. There are roads around the pass, but they're more than an hour detour and even more terrible roads. He mentioned at the end of the video that a lot of working class people live in Driggs and Victor, ID, and therefore commute across the pass daily. With the pass offline, many people haven't been able to get to their jobs, and businesses in the town are struggling at the moment. There are plans to get busses to go around the pass to help commuters, but either way the town is having a crisis at the moment.
While I have all the sympathy in the world for those people trying to make a living, I do hope some pampered billionaire is at least a little inconvenienced that no one can cook his wagyu steak tonight.
@@florencemclaughlin3606 I don't find it weird at all. For a lot of people owning a ranch out in the mountains is a dream. Now consider the fact that they're filthy stinking rich and can do whatever they want on all those acres. I've been to a montana ranch before, not a billionaire's ranch but a real western family that worked the land for generations. What an incredible place that was. The views, the wildlife, the quiet and calm, billionaires choose places like this because they're travelled enough to know how special they are.
Not to mention wide open land may be cheaper and able to build however they want and have a sprawling property. Being able to go to a vacation property and relax without the bs of were they work could be very enticing.
This accurately depicts one glaring issue with our economy that no one mentions... how we've developed a fourth class of people, the "ultra rich" and how the rich who used to sell thousands of Chryslers annually to the middle class, now sell one Bentley a year to the ultra rich. A huge swath of our economy is now focused on selling one product to the one person who can afford it.
@@bertbaker7067 OMG is that really what Chi-Chi's restaurant was named after? I used to love going there as a kid. You could watch the tortillas being made and they would always give kids a raw blob of dough to play with (which I would occasionally eat as I was always hungry from playing lots of soccer).
Wyoming is mostly unspoiled land. I love it here (Casper) I’m 10 minutes away from world class fishing, rock climbing, hunting. And a few hours to world class mountaineering, ice climbing, backpacking. The small cities have everything that you need. it’s not for everyone, but if you love the outdoors there are few places better.
I grew up in Colorado and rarely made it up to Wyoming (mostly just Cheyenne for the rodeo). When I moved here to Seattle in 2017, I was pulling a trailer... I debated the steep climbs on I-70 or the winds on I-80. Chose the latter... and one point I posted online my apologies for my bad-mouthing Wyoming... I couldn't believe how amazing the pine forests looked and smelled. Also, I never had any wind issues, luckily.
Showing a backdrop of possibly the most gorgeous mountain backdrop on earth while simultaneously asking why this area is so wealthy is hilarious to me.
I lived in Wyoming for almost 4 years. I didn’t think I’d like it, but it grew on me. I met some of the most amazing people, and learned to love the little things. Definitely a place to go and visit
Also for some reason having a boom. A 2.5 billion dollar Coal to Ammonia treatment plant and a natrium nuclear power plant in the near future. Combine that will all the expansions in the Trona patch. It looks like another boom is headed to Wyoming.
This weekend there was a huge landslide on the Teton Pass blocking the crucial access for workers in to the Jackson region. Going to be really interesting to see what happens there.
You have no idea how much they have an ick for anyone who makes less than them. The suburbs were invented because of a growing middle class, fleeing to the outskirts of the city to get away from the poors. This is just an extreme version.
I am not even an American but I like how you give good context on history, geography, governance structures while explaining such trends. Very well presented content as always !
The ultra rich aren’t the only thing driving Wyoming’s wealth. The state has had a lot of good paying jobs in the energy sector for the past 60+ years. This has worked out well for a lot of long time residents, as they grew up in the oil industry are able to pursue in demand, high paying jobs in states like North Dakota and Texas while still enjoying the tax benefits of living in Wyoming.
Fascinating! I always knew about the differences in wealth between Wyoming and the other states in the US, but I never fully understood the reasons. I should've known between tax avoidance mining, and oil drilling and the preserved natural landscapes, and the national parks, that explains so much! Thanks for another fascinating and awesome video Sam, Ben, Adam & the whole Wendover/HAI team! -Caleb 😎
And this is why I don't think anyone should have the amount of money these people have. No one needs a behemoth mansion that can be viewed from space, no one needs a billion dollar yacht and no one needs 30 supercars, especially when it leads to everyone else barely affording their medical bills, fighting minimum wage and crippling under inflation. These greedy people need to be regulated, that money should be taxed to the heavens and redistributed back to the hard workers who are paying the heavy price of corporate greed. The working class have a right to live financially-free lives!
@@DavidKen878 How nice of you to project your own bitter entitlement towards my comment, I'm sure it hurts your sensitive ego to see me call out a nationwide issue 😊
@@DavidKen878 Are your gradeschool insults supposed to offend me? 💀 I wouldn't be so quick to judge a 14yr old pfp and username with your double-chin, david
@@DavidKen878 and you were hurt enough to engage in my comment, but thanks for boosting my engagement! The point of my message is to call out the excessive wealth embezzlers who are ruining our economy, so your deluded attitude really helps! :)
I worked a minimum wage job there when I was younger. I split a small chalet with 6 people. My room was the closet in the master bedroom. Even with no money I had a great time there. Now I could buy a vacation house there if I wanted but somehow I don’t think it would compare to my days living with 6 friends, hiking, skiing, riding dirt bikes. Honestly, it does not take much money to have a good time there. You just need creativity and a good attitude.
I’ve been to Grand Teton, it’s such a beautiful national park, on one hike we both encountered Moose, a grizzly bear, a black bear and a couple of bald eagles on a nest. Very cool
Wonder what happens when they've fully priced out not just hospitality industry employees, but also the people doing the basic public service jobs that keep a community functional, like the trash collectors and the county road department. Guess they'll find out soon enough if they don't course-correct.
lmao anyone remember mid 2010s when kanye was always there on his big farm? some wild moments, had the most random celebrities & half of LA flying out there 😂
15.50 an hour plus free housing and other benefits is still WAY more than minimum wage workers in almost any other part of the country. Very few states have more than $15 minimum wage, and those that do, social housing costs quite a bit more than “free”. So while I do agree in general the working class need a living wage, the people here seem to be doing far better than most. BYW did you factor in the housing benefit to the 47000 number?
One of my best friends moved to jackson to work maintenance in an apartment complex. He’s making good money but pays $1700 for a studio apartment after getting a discount for being employed by the complex. That’s crazy.
It is good we acquire as much wealth as we can, most people fail to understand what it takes to become wealthy, they want to become wealthy overnight by thinking their savings will help them attain that, they fail to understand that investment is what truly builds wealth. I advise you all key into investing and earn side money than depending on your savings if you truly want to be wealthy
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
I keep seeing a lot of people testifying about how they make money investing in Stock, Forex and Crypto Trade(Bitcoin) and I wonder why I keep loosing. Can anyone help me out or at least advise me on what to do.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now, nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $59k, withdraw my profit right before the correction and now I'm buying again.
I was visiting family who worked with the Park Service in Jackson Hole in 1991 and even then, it was SUPER different than it looks like now. The biggest new thing was a TCBY.
@@jerryhello i'm sick and tired of conservatives thinking that a tax on wealth over $1 billion would somehow raise taxes for them? it's absurd. We can cut taxes for the working class, increase benefits, while raising taxes back to the 1950s levels for the billionaires and ultra wealthy.
@@shasmi93I don't think they are miserable. They can meet their basic needs for food clothes and shelter easily. They need to make that possible for others. Taxing them is one way to make it happen.
I imagine college students and wondering hospitality professionals work in Teton County during the summer. That was my experience when i worked at Jackson Lake Lodge in the summer of '79.
It’s crazy you didn’t talk about the collapse of the road in Teton Pass that just happened a few days ago, there are SO many people who commute over the pass for jobs and now they have to drive an extra like 2 hours for the foreseeable future
@@HarryWessex yeah that's the important part guy above missed. Jobs like that offer free housing because it's literally the only way to get people to work there. They don't offer it as a true benefit.
Jackson chewed us up and spit us out 30 years ago. It was the same song back then too with being unaffordable. Lived there for 3 years and got tired of living paycheck to paycheck. It’s like other beautiful places in the country, if you wanna live in the Hamptons, it’s expensive, if you want to live in Laguna Beach, it’s expensive, if you wanna live in Lake Tahoe, It’s expensive You want to live in Aspen, it’s expensive. This isn’t a Jackson problem, it’s simply too many people want to live in a small place that happens to be beautiful. Supply and demand. Advice: Live where you can afford and don’t squander your happiness on blaming others for your socioeconomic status.
Rich people like Wyoming, and Montana because they want to relax, enjoy life, and slow down a bit. You can own a lot of land cheaply, have a lot of space, and own acres to support horses or cattle and your log cabin mansion with little fear of crime. They can keep their supercars, helicopters, and jets with relative anonymity and safety. Also, the deserted center of the US will remain far from WW III and nuclear fallout.
Cheyenne resident here. The city is actually closer to 100k because of of all the county enclaves and surrounding development. There is also a a ton of data centers here now and more being built. Lots more industry is moving in now. Don't move here though as the city is full of alcoholics and drugs because of covid. And yeah tons of rich people are here solely because of the lack of taxes. The state and cities also completely ignore lower wealth people in favor of the rich. There is also massive amounts of corruption and nepotism in every facet.
Just how did covid make your city full of druggies and alcoholics? It may have created a situation where they were more noticeable, but having the flu does not make one an alcoholic.
@@RoySATX The alcoholics were already here, the druggies are because of covid. Should have worded that better. But lot's of people turn to drugs when downtrodden. Covid caused a lot of people to lose their jobs, rampant inflation, corporate exploitation, lower wages, etc have also played into it.
I have a friend who did some housekeeping work in Jackson, WY and went to one of the downtown bars for drinks after work, and got to talking with the young man next to him at the bar about his dreams and career desires and how he hated housekeeping, etc - dude supposedly didn't even beat his heart twice before offering him 2 million dollars with a part-ownership deal to go and start his business. I haven't heard from him in a while, but I think he's still running the business with that guy as his investment partner.
5 месяцев назад
Odds of that are up there with never gonna happen. Glad your friend got lucky.
*Appreciate your videos! I’m 54 and younger generations should know there’s no shortcut to acquiring wealth, but there are ways to go about it. Fellow millionaires don’t tell the poor/middle class they need the knowledge of finance coaches to help build their wealth. If anyone here needs a good coach, here’s it..*
Actually, it means “tits.” A diminutive form of breasts. What is humorous is that the Americans, always going for the superlative, called the area the “Grand Tetons!” One of the best oxymorons ever.
15.50 an hour plus free housing and other benefits is still WAY more than minimum wage workers in almost any other part of the country. Very few states have more than $15 minimum wage, and those that do, social housing costs quite a bit more than “free”. So while I do agree in general the working class need a living wage, the people here seem to be doing far better than most. BYW did you factor in the housing benefit to the 47000 number? Plus also factor in tips based on those high restaurant prices.
I remember going to Jackson every year when I was a kid until about 2010. Until then the town was so quiet and humdrum, they didn't even have traffic lights until a few years after.
Kemerer is nuts. My buddy had to live there on a mine reclamation project and a prospective landlord recommended beating up his problematic future neighbor before moving in to settle the score. But during the right time of the year it’s one of the prettiest places.
I worked in those coal mines... politics come and go, but there is over a thousand years of coal ready for use. And IF, we need more, all we have do is dig alittle further.
My buddy lives in Jackson and works at the hospital. Went to visit him recently and his 1 bedroom apt. costs 2,500/month. For comparison, I live in Sun Valley, ID and pay the same price for a 3bdrm condo right by the Sun Valley lodge. Both are similar towns but the cost of living is so much higher in Jackson. There's really no point to my comment other than to share some random info. Cheers everyone
They're concentrated near Yellowstone; first in Jackson, then Cody. Now reaching Lander. There's also a lot on the East side of the Bighorn Mountains in Sheridan, Buffalo and Story areas. They've driven real estate prices out of reach of the working class people. It's crazy!
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I lived there 20-odd years ago… the joke then was the billionaires were pushing the millionaires out.
now they're probably saying the same about tech bros/influencers etc ruining their 'peace'. I recall when Kanye went through a phase of spending his summers there on his farm making music...had half of LA & all the big names flying out every week, recall thinking 'that's a great way to stick it to the old school billionaire class there for just tax reasons' 😂
Thanks to Yellowstone TV not surprised why?
The haves and have-yachts.
That is kind of funny, not gonna lie 😂
Its a fact
tax avoidance. the answer is always tax avoidance.
Turns out people like to keep the money they’ve earned. No matter how much they have.
@@ez4039 *stole
@@ez4039Mostly the money their money earned
I knew a remote worker looking for a low tax place to live. Checked out Wyoming, Cheyenne, because taxes were great. Then he realized he’d have to live in Wyoming.
@@ez4039turns out we live in a society and we don’t have the right to take all the resources and leave others in poverty. Also all the bridges are in disrepair
This really about second/third homes, space and privacy. None of them actually live in Wyoming, they just escape there at Christmas and pandemics.
And they pay taxes in Wyoming
Yup
@@hbt739 They don't, that's the problem.
Shhh… only the billionaires club knows about the next three pandemics, don’t announce it to the rest of the world in the comments section!
What I'm seeing is if H3N1 goes pandemic, and the "eat the rich" stage is reached the people in this area should and may likely be ready.
I was born and raised in Jackson. It's punishingly expensive there for the working class. I used to work retail making less than 12 bucks an hour. I moved away for college, and then my family moved away a few years later. My friends moved away, and so did their parents. I know practically nobody there anymore because nobody can afford to live there. The normal 3BR house that my dad paid for in 1990 was I think $90k. He lost it a long time ago, but Zillow has it listed for $1.6 million. A beautiful but terribly expensive place.
That’s ridiculous considering you don’t live in CA.
Sounds like a good place to be from
Wyoming’s winter is something else honestly, I have been Lapland , Finland in winter and for some reason Wyoming felt colder it’s gotta be the wind 😂
How is this word for word the same post as Jessica's up there?
@@quattrocity9620because Jessica is a bot that stole a comment and used other bots to like it's own comment so more people see it. The bot owner is hoping people see Jessica's comment, click on the profile, and click on the link in it. Where does the link go? No clue, but I wouldn't try it
@@jerrymathew6619 What an elaborate scheme. Thanks for taking the time.
I mean it actually is colder than Lapland during the winter
Winters in North America are often more brutal than those of Northern Europe and Scandinavia. There's a reason why there's still cities above the Arctic Circle in Europe, but only small towns or villages in North America. A good reference to this is the fact that Edinburgh (a city with a metro population of almost 1M) is as far north as the village of Churchill (pop. 900) on the middle of the Hudson Bay.
I live in Colorado, and we have some areas that see -45 in the winter. But we're at the same latitude as Morocco and the Strait of Gibraltar, which don't get that cold.
I actually work in Jackson as an electrician. You can smell the wealth disparity.
Do you guys really not have escalators out there?
@@spectreagent00 I haven't been in every building in Idaho and Wyoming but I've yet to see one.
And this is bad because....?
You can see it. Ultra wealthy in their Porsches roll by people who can’t afford shelter. They don’t look, keep the windows up, and pretend they’re not there. American story as old as time
@@garythecyclingnerd6219 buddy, you have no idea how bad wealth disparity in other nation are, hell most of eruope still has special privileges for nobility.
The answer is ALWAYS taxes.
if it's a country: Oil
if it's an individual: Taxes
If it's a RUclips commenter: They're not rich.
@@oracleofdelphi4533 Oil is false and funny still many believe that, i mean the oil export money wouldn't cover the cost of the deployment, ammunition, maintenance+ personal losses, also their far cheaper to extract oil than in e.g. iraq + oil isn't oil like Venezuela's oil or russians (in most part) isnt that good as like saudi oil.
Its about influence, strategic interest like location, international order, saving humans, wanting to spread your system+++
Well, the area is one of the most incredible places on earth. Even without the tax help it would have a ton of billionaires living there. The tax friendly environment is the by product of billionaires living there and having influence in the area, not the cause.
@@Janoip To be honest, it’s just a more tame version of imperialism morphed into something that is “not imperialism” by the politicians, oligarchs, and the like, in my opinion.
So now we know where the deep state lives.
People I know who work there all treat it as a seasonal gig. Make 20 bucks an hour plus room and board and tips for a summer, and then go back to college. Great deal if you're 19, but it probably wouldn't be as much fun if you're 37...
Every reason in the world.
Glad someone pointed this out, most of these are college aged seasonal workers. I did it at ski resorts and also Yellowstone about 20 years ago, and for much less even inflation adjusted. I absolutely loved it!
You are 7654 years old why care??
Our solution is the client pays the rent while we are there. Then we go home. It works if you are completing a contract.
It's more fun when you're older
Just pointing out that the building shown at 7:13 isn't a billionaire's home, but rather the Lake Yellowstone Hotel in Yellowstone National Park. While people do call the area home seasonally (workers who are employed and housed on-property) it is not home to billionaires. It is the most luxe hotel in the park, though, so is a good factor for wealth in the area but not a good example of a billionaire's home. I work in Yellowstone so I thought I would point that out.
He wasn't using it as an example of a billionaires home. If you actually watched, you'd know he was just using random videos of the state.
Growing up in idaho, we had family friends that lived in Jackson. I knew they were wealthy but didn't realise why they lived there. They had their own plane and he had built a personal hanger off the airport in the late 80ies. I remember my dad mentioning that they sold it when he quit flying, it went for some astromical amount of money.....now I know why.
I went to Jackson for vacation a couple of years ago and our waiter at the Thai restaurant at night was our waiter the next morning at a different diner for breakfast. I can't imagine how many hours he had to work to live there
Bro, that's so weird. I have a oddly similar story. But in Seattle of all places. Went to a Thai restaurant for bruch, had a nice waiter there. Then the next day went do dinner at a Italian restaurant and it was the same waiter!! 😂😂
He told us he only did this because #1 the fancy Italian restaurant is ONLY open during the evenings, late evenings. And the Thai place is only open earlier in the day and closes around dinner time, or just after dinner time. The restaurants also weren't open everyday of the week too because they small local family owned places.
So he was actually working part-full time despite having 2 jobs. Basically just working a brunch restaurant in the beginning of the day, and a fancy Italian dinner restaurant later in the day.
Thai Me Up? 😂 or i faintly remember that place closed in the last couple years :(
@@Gigaamped Annie's Thai I think was the one we went to. Was very tasty. The waiter had remembered me the next morning because I ordered the spiciest level on the menu which almost nobody does apparently
37 hours a day.
@@nicklibby3784Every one of my homeless friends have 2 or 3 jobs. It hurts me when I hear people say homelessness only happens to you if you are lazy.
Ironically the road through the Teton pass from idaho Falls to Jackson got taken out by a landslide a few days ago.
Going to make for a weird summer in Jackson. No workers, or limited workers with an ungodly long commute.
Side note, I like how they used a picture of Breckenridge ski resort at the end of the video.
@@MrJkenney485 They also used a picture of Beaver Creek Golf Course in Colorado for the beverage cart shot.
Hasn't that added like at least a 1+ to many workers commutes also that route is likely to be closed for a long time to
I drove that last summer and holy fuck I was scared
@@jdkoz98yeah, it's beautiful, but dicey. Don't enjoy the view too much while driving!
Local here. Many who live over Teton pass has now been forced to quit their jobs, as the pass has been closed by a landslide and mudslide for the foreseeable future.
Worker shortage imminent, along with steep wage increases
@@scottyflintstone”steep” will probably be like $2 increase lmao.
@@KillaZamii it Will be whatever individuals agree too. It's not like seasonal workers are forced to do it. Although if the price gets too expensive, resorts will just import seasonal workers from Chile, like take resorts in Tahoe
@scottyflintstone lived in lake tahoe and watched that area change rapidly over a decade ago and that idea isn't working because you still need affordable and comfortable places for staff not just in the resorts but surrounding towns to live in as well. Saying you don't have to do it works until you have rich idiots complaining about lack of staff(which they do) as areas like north lake, Jackson, etc stay in this death spiral of wealth inequality which leaves no upward mobility for those who actually want to live there
@@Mt.Dwezzy the resorts will undercut wage growth by using Seasonal workers from other countries and packing them in to the dorms (Donner Ski Ranch). Bottom line is you need a technical skill to make the $ but it will never be enough to buy a house in Jackson Hole, Tahoe, Mammoth or any other resort town. Exception: SLC as you can live in the valley and commute up to mountain
I have watched many of your videos, including jet lag the game. I also grew up in Jackson and my parents and sister still continue to struggle to call Jackson Hole home... I fully know the struggles that many middle class feel within this town. I can only hope that as property taxes increase, and houses down the street sell for $2.5M+ we can retain our property. While it was interesting growing up with the Walton, DuPont, and Koncak children, it's also disappointing seeing the valley become unaffordable to all but the most wealthy individuals. Growing up i always heard, Aspen is for people who make the cover of "People" magazine while Jackson is for people who make make the cover of "Forbes" magazine...ie. Aspen is for people who want their wealth to be known while Jackson is for people who don't.. You also mentioned instate Wyoming tuition, without mentioning the Hathaway scholarship (basically a full scholarship for instate students with a HS GPA of 3.5+... partial for 3.0 and 2.5 students) funded by oil money. This video also fails to mention that, because of that oil money, Wyoming continues to be one two states in the nation to be in the black financially. Overall I do feel this video describes the local struggles without actually interviewing those who live through the hardships and tribulations directly.
The most obvious explanation for the wealthy migration to Wyoming is the tax incentives. The state collects no personal or corporate income tax, and it has one of the nation's lowest sales tax rates (5.36 percent, compared to 8.49 percent in New York).
NY sale tax : 8.875
I live in Jackson Hole and rich people have flat out destroyed the middle class and the community along with it. Housing is utterly unaffordable. I'm leaving this year along with many many others...
Royally sucks for the people who actually want/need to live there. But it's going to be hilarious watching the wealthy figure out who actually does all the work. Or they'll just traffic in people like another commenter said. Immigration bad unless it's my cheap landscaper.
They never would have showed up if your government hadn't allowed such rampant corruption
If enough normal people leave Jackson Hole there wont be enough people to run the ski resorts, high-end restaurants and other businesses those rich people rely on in order to live their rich life up there. What happens when these businesses can't secure workers anymore because the price they would have to pay to make working there attractive is more than the businesses are willing to pay?
They start maintaining the goddamn pass?
@@jfwfreo They'll do the same thing the food industry is doing: kiosks and robots. These are insanely wealthy people. They can afford the latest tech and pay for more innovation of yet more luxury tech. No need for smelly humans.
I worked in Jackson for a little, everyone where I worked lived in Idaho or in their vans/cars
Most low wage employees live in Victor Idaho and drive through the Teton pass to work in Jackson. But the 45 min drive just turned into two hours arter a massive landslide took out the pass
The Billionaires will adapt by having the govt. fly in illegal aliens.
That will be fixed this Friday, actually not that big of a deal. You choose to live somewhere like this, you know the risks and challenges. And by "low wage" you mean $80 - 200k right?
I broke my leg when snowboarded in Jackson, and spent entire week walking around that little resort town, very good memories. I bought myself an expensive cowboy hat.
Wyoming also pays teachers much better than the surrounding mountain states of Colorado, Montana, Idaho and Utah. That’s why we moved here. We wanted a mountain state with higher pay and lower cost of living. And we were fortunate enough to find a beautiful place surrounded by pines that’s not in Teton or Lincoln County. Wyoming is a big state and there’s a lot of hidden gems. You just have to look for them.
"a beautiful place surrounded by pines that’s not in Teton or Lincoln County"
Share with me privately, please.
@@jdsartre9520 Google maps satellite.
I grew up in Afton and almost all of the teachers were from Utah or Idaho. Just a handful of locals - people are always shocked when I tell them lol.
@@jdsartre9520 check out the Black Hills region of Wy.
@@jdsartre9520check out the Black Hills area of Wyoming near Devil’s Tower. Gorgeous area and low population.
That wealth gap is crazy.
We're also on the similar path in INDIA.
While everyone is fined for excessive use of ground water, Rich people can have huge golf course in the same area with lush green grass properly maintained in 45°c heat.
Surprising fact here: India and the US have the worst population to legislator ratio in their national legislatures on the planet. Gee. Couldn't possibly be connected...
@@doomsdayrabbit4398 It isn't just the "number" that is an issue here in the US. It is also the fact that only rich people can afford to become a legislator because they have the money for running a campaign. TV commercials, radio ads, print ads, and speaking events cost more money than a regular person can afford. These people also have connections to corporations who they sell their vote to. So they aren't representing the people who vote for them very much at all.
@@doomsdayrabbit4398 probably not since these issues are hardly restricted to the US and India.
@@doomsdayrabbit4398India's parliament expansion has been delayed for decades because the Southern states don't want to be punished for controlling their population growth while those states in North which didn't control their population will get more political power in the parliament because number of parliament seats are goven related to state population.
And, with BJP not getting majority in recent election, I don't think it's going to be done atleast for another 5 years.
@@jokhdsdgjjjkjhtfddddtu And the US's has because "the building is too small".
Wendover's Why Wyoming is so Weirdly Wealthy. W.
Wendover Wonders Why Wyoming's Wealth Won't Work Wisely When Withheld
@@PsRohrbaugh whoa!
HA!
Wendover’s why we should make a 20 minute video about why low taxes make wealthy people move there
@@PsRohrbaugh Whew! What wit!
I’ve lived in Jackson for two years now and watching this video was incredibly cathartic. You put into words a lot of phenomena I’ve seen with my own eyes but failed to adequately describe to outside friends. This place is like the Dubai of the US, where the rich get tax breaks and expensive food and the working class suffers.
PS, fun fact, I actually lived in the employee housing unit you mentioned at the golf and tennis club my first winter out here. It was not very nice.
@@Noename-qx5rn The alternative would have been taxing extraction and investing in long-term industries before they peaked. But yes, even your hyperbolic alternative is better. They already make effectively no tax income from the rich, so all they are doing is driving up prices. A less developed and more affordable alternative is definitely way better for the average person.
It's saddening to realize how the cycle of wealth accumulation tends to benefit a small group, often leaving much of the population struggling. It makes one think hard about the potential solutions to such systemic issues.
You are really struggling to sound smart.
by wealth accumulation you almost sound like they are taking from someone. the situation may not be good but surely would be worse without the billionaires
@@canalozieljoseohh, wont someone think of the billionaires. They have been so oppressed by the poors again, how dare they want actual safety protections? And don’t they know that the children yearn for the mines(those hands gotta be put to work somehow), next their gonna say they want fair wages or god-forbid, the right to unionize(disgusting plebians). Oh, wont someone please think of those poor poor billionaires
@@Strangeship1997 you really think this has something to do with the well being of the billionaires? the point is clear, would wyoming be better or worse? thats it
You can only climb up by pushing someone down. It's a pyramid - a lot more in the lower layer. This is the evil that keeps America hoping - people aspire to be like those above and crush those below to get higher, by believing falsely that those above deserve/earned it as well as those below deserve/earned it too. The false notion that hard work will get you anywhere.
Billionaires won't tell you this but being a financial burden on their poorest neighbors is their strongest skill.
World record for most words beginning with W in a RUclips title, I bet.
By Wendover to boot 🤣
Wyoming's wealthy wisens up and weaponizes Wyoming's weird ways of whisking away whalefuls of wealth for Ws, which also withholds the wealth from weaving its way to Wyoming's wider wage workers.
Ohh, I never noticed it. 😯😯
All alliteration allows alternate adjectives.
This is not even close to the most W-words in a title, especially considering there is multiple videos with a title that is some variation of "what is the world wide web"--and that's just something mundane without purposeful alliteration.
You appear to have missed mentioningbthe richest family in Jackson: the Rockefellers. The Rockefeller family donated over half of Grand Teton National Park to the federal government and still own the several-thousand acre Laurence Rockefeller Park and Preserve at the park's southern border.
This isn't quite true. The Rockefeller continued to own the land that is now the preserve through the 20th century, but now it has all been donated to the park.
Donated? you mean tax write off
Probably done over 100 years ago. I really doubt it would've been taxes back then. Just classic political favour if you want to be so __@@Adrian-lc6jq
Yeah, but they definitely don’t live there
Wow
The most obvious explanation for the wealthy migration to Wyoming is the tax incentives, to make it even better their migration is accepted by the locals who want little government interference.
Working class people are the ones who should be getting tax cuts, not corporations and billionaires.
The only ones who should get tax cuts are those who labor for their income. Not arbitragers with extra steps.
@ileutur6863 the tax cuts should be for business, trades, and manufacturing. The things that provide economic growth.
Not investments and tech.
More taxs will push everything away. The oil n gas companies and companies.
@@BravoNine69 Good, we don't want oil and gas companies
@@BravoNine69 Isn't tech business? Why are you excluding tech? Tech employees many people, and unlike many businesses, pays living wages.
Personally, I think all businesses should pay fair taxes, because they depend on the things taxes provide (infrastructure, healthy education populations, etc).
We need to go back to a family based economy instead of a corporate based economy. In a free market there are no corporations because the government doesn’t charter corporations in a free market.
4 minutes in and let me save you time as someone who’s been there. Jackson is one of the most beautiful places on the planet. You’re right there at the Teton mountains and like a few hours away from Yellowstone. There’s no place like it on the planet and definitely no place like it in America. There’s literally a highway that takes you in that’s like a 10/10 where you ride right next to the most jagged peaks in America as you ride past the Teton mountains, truly incredible.
Holy s**t that tax write off for the conservation easement is crazy. A charitable deduction for up to half your annual income for up to 15 years!!! Thats wild.
Meanwhile, middle class homeowners got their ability to deduct interest paid on mortgages reduced by republicans.
Of course, the deduction is limited by the value of the gift and the annual income of the donor of the conservation easement. If someone with high income donates a low-value easement, it's likely that the deduction will be written down in a few years or less. By contrast, if someone with a comparatively low income donates a high-value easement, that person may never be able to claim the full deduction, even over 15 years. Also, the deduction is supposed to be reduced by the "enhancement value" of the easement on the adjacent land of the easement donor. The bigger issue, as I see it, is people using an important conservation tool primarily to feather their nests rather than to truly promote landscape-scale open-space protection. I do think it's an abuse of easements to use them to protect back yards.
I was in Wyoming at Jackson Hole for 5 days snowboarding. It's a pricey place but man is it nice. I definitely want to go back, but I think Salt Lake City ski areas are much more affordable and easier to access.
Anywhere is easy if you're flying private.
"Why do so many billionaires live in X? And why is it taxes?"
Can’t blame them taxes are evil and also this idiot is nothing but a liberal bot criticizing guns in America as a “problem” when they clearly aren’t
I love how people consistently ignore the fact that investments actually do pass through an economy. Yes it’s not labor but it’s still producing benefit for society. It’s not like these people just buy gold and bury it. Look if you work in the service industry why should I pay you anything more than what your industry demands in wages? Now, if the rich (or anyone) is sheltering their wealth from taxes illegally that should be flagged. But also keep in mind that taxes are by their very nature parasitic in terms of economic benefit.
Everyone wants lower taxes. It's just that the rich can easily relocate. A Denny's waitress in California has the same exact motive to relocate, just not the capital.
I used to live in Jackson and work at the resort. I spent time living in motel rooms because the housing is so scarce. I had a lot of friends who had no option but to commute from Idaho every day, and the pass can be really dangerous in the winter, sometimes they close it which can leave you stuck in the wrong state. I loved Wyoming, it was the most naturally beautiful place I have ever been, but if I stayed I was going to 50 and still living at a subsistence level.
Apparently the pass is closed at the moment because of a landslide. During Covid, I got caught in Idaho with no way back and I walked the pass from Victor, on already injured feet. It was over 20 miles mostly uphill on sludge. I was crawling at the end.
OMG
Great effort,you should be proud.
Thank you for recommending Sarah Jennine Davis on one of your videos. I reached out to her and investing with her has been amazing.
Wow, congratulations on your impressive investment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making investment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of investing? Thanks for sharing your story!
Do you mind sharing info on the adviser who
assisted you? I'm 39 now and would love to
grow my portfolio and plan my retirement
@@FreyaFreya3 Sarah Jennine Davis is highly recommended
You most likely should get her basic info when you search her on your browser.
@@mayor-o1wHow do I access her ? I really need this
+156
Leaving a legit comment. I noticed Wyoming is also one of the states where a lot of people open up LLCs. Glad you made a video on the state Sam.
Yeah, WY is one of the few states to actually get privacy. If you want to run a business and not be a public figure, WY is great. Most people don't get it, but having yourself listed in public records where any crazy can get your home address opens you up to a nightmare. People think you need to be famous before you start getting the crazies come out, but it really takes very little. If you make anything that even a relatively small number of people enjoy, sooner or later the unhinged people come out and it gets scary fast. Happened multiple times to me and I'm no millionaire, either. Privacy = Good.
due to privacy. they allow you to be anonymous.
My GF worked beverage cart at a golf course in a similar situation as mentioned in the video and her wage was very low but after tips from wealthy golfers you can end up making 60-80k a year but this is in Georgia where you can golf year round. I’d imagine it’s not the same in Wyoming haha
Trump plans on cutting taxes on tips, how much more would your gf had made?
@@RoySATX a lot of ppl already don’t report tips so they might as well not tax them haha
It's because Jackson Hole is extremely pretty, has a really nice climate in the summer, and was nearly empty before the wealth moved in. The rest of the state is a hot, dry hellhole, and the whole thing turns into a frozen wasteland in the winter. You can go up in one of the central mountains and look down at hundred of miles of literal wasteland populated by little but sagebrush. The north-western corner is just different from the rest of the state. Source: My extended family lives in Green River and and uncle in Jackson Hole, and my dad's ex-girlfriend lives in Jackson in one of those 3M houses.
However, he's leaving out the benefits. A lot of people make unusual money there, and many people started successful bougie businesses feeding on the wealthy. Note that the cost of living drops substantially with a 45m commute and that's little different from any metro area. It's just pretty difficult in the winter due to the ice and snow. Some of the mentioned 'towns' that may have to be abandoned are the places where you'd see highway population signs with triple, double, or even single digits.
I will say one thing about conservation easements. Sooner or later they are going to need to be broken. Perpetual effect should not be allowed in modern times.
The irony of all these nature loving people flying in on hundreds of private jets.
It's not so much the nature, as the isolation from the plebs and proximity to other billionaires. There's plenty of nature in northern California.
Because it's always been a scam on the gullible masses
They actually hate nature and destroy it with their very presense. They are running. But, they can't hide.
Had a client in Aspen who would drive up to the job site in a Prius, brag about how “green” all five of her vacation homes were, then hop in her Gulfstream and fly a few friends to Vancouver for lunch.
Makes sense really. Needing to be close enough to a big city so I can work 40h+ a week is the only thing keeping me from moving out into the middle of nowhere.
Dang I'm going to Jackson in a few weeks for a conference but I thought Yellowstone was the only reason somewhere so far out was chosen. Didn't know there was so much else going on 😂
Yellowstone as in the TV Series?
@@goodboy6947 the national park
@@goodboy6947tv show
It was a nice area when we family vacay'd there in the early 1970's. Of course back then we were all unaware that the area just north is a super volcano. 😅 I don't think I would have enjoyed the trip as much if we had known.
Jackson is sort of like Aspen, but for people who like to roleplay being cowboys. If you don't know what Aspen is like, watch dumb and dumber.
The timing of this video couldn't be any better.
Just a few days ago, the main road in and out of Jackson, Teton Pass (WY state highway 22) experienced some crazy landslides and is currently closed without a hard date on when it will be reopened. There are roads around the pass, but they're more than an hour detour and even more terrible roads. He mentioned at the end of the video that a lot of working class people live in Driggs and Victor, ID, and therefore commute across the pass daily. With the pass offline, many people haven't been able to get to their jobs, and businesses in the town are struggling at the moment. There are plans to get busses to go around the pass to help commuters, but either way the town is having a crisis at the moment.
While I have all the sympathy in the world for those people trying to make a living, I do hope some pampered billionaire is at least a little inconvenienced that no one can cook his wagyu steak tonight.
maybe the billionaires should be using their ridiculous wealth to help pay for the fixing of the road 😂
The road will be fixed Friday.
The "reward" is the fact that there are so few people.
The answer is not just taxes. There are not a whole lot of people in Wyoming, and billionaires like being isolated.
I know right?! what a weird life....or lifestyle. I thought gated communities were weird
@@florencemclaughlin3606 I don't find it weird at all. For a lot of people owning a ranch out in the mountains is a dream. Now consider the fact that they're filthy stinking rich and can do whatever they want on all those acres. I've been to a montana ranch before, not a billionaire's ranch but a real western family that worked the land for generations. What an incredible place that was. The views, the wildlife, the quiet and calm, billionaires choose places like this because they're travelled enough to know how special they are.
Not to mention wide open land may be cheaper and able to build however they want and have a sprawling property. Being able to go to a vacation property and relax without the bs of were they work could be very enticing.
@@YouCanCallMeReTroYes very special until that meteor hits us lol
This accurately depicts one glaring issue with our economy that no one mentions... how we've developed a fourth class of people, the "ultra rich" and how the rich who used to sell thousands of Chryslers annually to the middle class, now sell one Bentley a year to the ultra rich. A huge swath of our economy is now focused on selling one product to the one person who can afford it.
The Grand Tetons, being named by horny French explorers.
Is there any other type of French explorer?
@@davidlea-smith4747 Yes, the pious catholic priest!
@@cidercreekranchI’m Catholic and that’s fkn gold man 🤣
Lol yes. As well as *Chi-Chi's.* Current salsa brand and former restaurant chain.
Named after the founder's wife. (｡Y｡)
@@bertbaker7067 OMG is that really what Chi-Chi's restaurant was named after? I used to love going there as a kid. You could watch the tortillas being made and they would always give kids a raw blob of dough to play with (which I would occasionally eat as I was always hungry from playing lots of soccer).
Because nobody else can afford to live there and the unspoilt land is a luxury only the wealthiest among us can afford
haha you said among us
Unspoiled? They are there for tax avoidance.
@@ipgd69 fr bro tried to sneak himself in 😭😂
Wyoming is mostly unspoiled land. I love it here (Casper) I’m 10 minutes away from world class fishing, rock climbing, hunting. And a few hours to world class mountaineering, ice climbing, backpacking. The small cities have everything that you need. it’s not for everyone, but if you love the outdoors there are few places better.
Driving the entire length of I-80, by far the most beautiful and breathtaking scenery is Wyoming.
I thought it was really dull. Not a single tree to be seen and a constant gale blowing your car everywhere.
@@rubiconnn That was Nebraska.
I think he was being sarcastic lol
I grew up in Colorado and rarely made it up to Wyoming (mostly just Cheyenne for the rodeo). When I moved here to Seattle in 2017, I was pulling a trailer... I debated the steep climbs on I-70 or the winds on I-80. Chose the latter... and one point I posted online my apologies for my bad-mouthing Wyoming... I couldn't believe how amazing the pine forests looked and smelled. Also, I never had any wind issues, luckily.
I drove it and remember Rock Springs and how dusty and utterly western cowboyish it was.
Showing a backdrop of possibly the most gorgeous mountain backdrop on earth while simultaneously asking why this area is so wealthy is hilarious to me.
I lived in Wyoming for almost 4 years. I didn’t think I’d like it, but it grew on me. I met some of the most amazing people, and learned to love the little things. Definitely a place to go and visit
Fun fact: Kemmerer, Wy is the location of the very first JC Penny store.
Yep! It’s my favorite one that I tell people.
Also for some reason having a boom. A 2.5 billion dollar Coal to Ammonia treatment plant and a natrium nuclear power plant in the near future. Combine that will all the expansions in the Trona patch. It looks like another boom is headed to Wyoming.
And will be the home of the first liquid sodium cooled nuclear reactor.
@@raycollier301 needs to be shut down for potential ground and groundwater contamination. check out the company
Eviddently JC lived there to begin with? That was a fun bit to go along with this video.
This weekend there was a huge landslide on the Teton Pass blocking the crucial access for workers in to the Jackson region. Going to be really interesting to see what happens there.
Most likely, that road gets fixed quickly. Jackson hole residents have enough money to fix it and a very big incentive to get it fixed, too.
The wealthy will adapt by having the govt. fly in illegal aliens.
Teton pass is now closed indefinitely because of a landslide so now service workers from Idaho have no way to get to Jackson besides an hour + detour.
0:22 That's literally the town I live in! Except it's not Wyoming, its northern Utah.
This type of video always makes me wonder, don't they have any conscience?
5:45 Billionaire running away from the hustle bustle they created in the modern city 😂
You have no idea how much they have an ick for anyone who makes less than them. The suburbs were invented because of a growing middle class, fleeing to the outskirts of the city to get away from the poors. This is just an extreme version.
Did Wendover cause the Teton pass road collapse and then drop this video to prevent its reconstruction? Good man
Funny timing for that "treacherous Teton Pass" line.
I am not even an American but I like how you give good context on history, geography, governance structures while explaining such trends.
Very well presented content as always !
A LOT of this information is NOT correct
Don’t listen to this yahoo- I’m not sure they know a single thing about WY
My father was stationed in Wyoming (military) early in his career, and he STILL talks about how much he hated it there 😂😂 it’s been over 30 years
Elysium society, Rocky Mountain style.
The ultra rich aren’t the only thing driving Wyoming’s wealth. The state has had a lot of good paying jobs in the energy sector for the past 60+ years. This has worked out well for a lot of long time residents, as they grew up in the oil industry are able to pursue in demand, high paying jobs in states like North Dakota and Texas while still enjoying the tax benefits of living in Wyoming.
Fascinating! I always knew about the differences in wealth between Wyoming and the other states in the US, but I never fully understood the reasons. I should've known between tax avoidance mining, and oil drilling and the preserved natural landscapes, and the national parks, that explains so much!
Thanks for another fascinating and awesome video Sam, Ben, Adam & the whole Wendover/HAI team!
-Caleb 😎
And this is why I don't think anyone should have the amount of money these people have. No one needs a behemoth mansion that can be viewed from space, no one needs a billion dollar yacht and no one needs 30 supercars, especially when it leads to everyone else barely affording their medical bills, fighting minimum wage and crippling under inflation. These greedy people need to be regulated, that money should be taxed to the heavens and redistributed back to the hard workers who are paying the heavy price of corporate greed.
The working class have a right to live financially-free lives!
You sound mad jealous and ridiculously entitled. 😂😂😂 that's your problem and yours alone buddy.
@@DavidKen878 How nice of you to project your own bitter entitlement towards my comment, I'm sure it hurts your sensitive ego to see me call out a nationwide issue 😊
@@Zeldafan1ify Yeah, it really hurts me ego seeing a Zelda nerd whine in a RUclips comment section. You must be on the spectrum 😂😂😂
@@DavidKen878 Are your gradeschool insults supposed to offend me? 💀 I wouldn't be so quick to judge a 14yr old pfp and username with your double-chin, david
@@DavidKen878 and you were hurt enough to engage in my comment, but thanks for boosting my engagement! The point of my message is to call out the excessive wealth embezzlers who are ruining our economy, so your deluded attitude really helps! :)
I worked a minimum wage job there when I was younger. I split a small chalet with 6 people. My room was the closet in the master bedroom. Even with no money I had a great time there. Now I could buy a vacation house there if I wanted but somehow I don’t think it would compare to my days living with 6 friends, hiking, skiing, riding dirt bikes. Honestly, it does not take much money to have a good time there. You just need creativity and a good attitude.
I’ve been to Grand Teton, it’s such a beautiful national park, on one hike we both encountered Moose, a grizzly bear, a black bear and a couple of bald eagles on a nest. Very cool
What's the tax rate and laws like in Wyo--oh. Oh. OHHHHH. . . Oh.
Wonder what happens when they've fully priced out not just hospitality industry employees, but also the people doing the basic public service jobs that keep a community functional, like the trash collectors and the county road department. Guess they'll find out soon enough if they don't course-correct.
lmao anyone remember mid 2010s when kanye was always there on his big farm? some wild moments, had the most random celebrities & half of LA flying out there 😂
It is beautiful out there, and I enjoyed visiting. However, I can handle cold and snow, but I can’t handle cold, snow, and WIND.
Rich people not paying taxes, raising prices of land in Wyoming
Only in these areas. Plenty of empty land all over the West
Only in Teton county and a few other areas, most of the state is pretty cheap. I considered it too but the wind was too much.
Didn't know you are competing with these rich folks for hundreds of acres of rural estates.
Looking on Zillow, the houses in Wyoming are pretty cheap by national standards.
😂
15.50 an hour plus free housing and other benefits is still WAY more than minimum wage workers in almost any other part of the country. Very few states have more than $15 minimum wage, and those that do, social housing costs quite a bit more than “free”.
So while I do agree in general the working class need a living wage, the people here seem to be doing far better than most.
BYW did you factor in the housing benefit to the 47000 number?
Wyoming weather, let me introduce you to Alberta
One of my best friends moved to jackson to work maintenance in an apartment complex. He’s making good money but pays $1700 for a studio apartment after getting a discount for being employed by the complex. That’s crazy.
It is good we acquire as much wealth as we can, most people fail to understand what it takes to become wealthy, they want to become wealthy overnight by thinking their savings will help them attain that, they fail to understand that investment is what truly builds wealth. I advise you all key into investing and earn side money than depending on your savings if you truly want to be wealthy
Money invested is far better than money saved, when you invest it gives you the opportunity to increase your financial worth.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
I keep seeing a lot of people testifying about how they make money investing in Stock, Forex and Crypto Trade(Bitcoin) and I wonder why I keep loosing. Can anyone help me out or at least advise me on what to do.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now, nothing beats experience and that's final.
Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $59k, withdraw my profit right before the correction and now I'm buying again.
I was visiting family who worked with the Park Service in Jackson Hole in 1991 and even then, it was SUPER different than it looks like now. The biggest new thing was a TCBY.
This is BONKERS. Great reporting work
Remember folks, 'It's a big club, and you ain’t in it.' - George Carlin
Thank goodness. The more I see of the super wealthy, the more I think they have several screws loose.
It’s not that big of a club. But yeah we ain’t in it. And I wouldn’t want to be. Those people are miserable.
We need to stop fighting taxes on these folks. Nearly all of us aren't billionaires-and most of us don't want to be. Tax these people.
@@jerryhello i'm sick and tired of conservatives thinking that a tax on wealth over $1 billion would somehow raise taxes for them? it's absurd. We can cut taxes for the working class, increase benefits, while raising taxes back to the 1950s levels for the billionaires and ultra wealthy.
@@shasmi93I don't think they are miserable. They can meet their basic needs for food clothes and shelter easily. They need to make that possible for others. Taxing them is one way to make it happen.
I imagine college students and wondering hospitality professionals work in Teton County during the summer. That was my experience when i worked at Jackson Lake Lodge in the summer of '79.
It’s crazy you didn’t talk about the collapse of the road in Teton Pass that just happened a few days ago, there are SO many people who commute over the pass for jobs and now they have to drive an extra like 2 hours for the foreseeable future
without the conservation easements it would still be too expensive so I would rather see a bit of open land than condos
Bozeman, MT has a similar issue. Would love to see a follow-up on the rush for Montana.
Who wouldn't take a job that offers REE housing?
I have had a few jobs that offer free housing. And it's never because they want their workers to feel secure and cared for. 😂
@alphachicken9596 I mean no offence but... no sh*t... weirdly this is something where the 18th/19th century was kinder.
@@HarryWessex yeah that's the important part guy above missed. Jobs like that offer free housing because it's literally the only way to get people to work there. They don't offer it as a true benefit.
@@alphachicken9596 It's used as a form of control too, get fired you lose your house/accommodation
Most farms have shanty towns.
Jackson chewed us up and spit us out 30 years ago. It was the same song back then too with being unaffordable. Lived there for 3 years and got tired of living paycheck to paycheck. It’s like other beautiful places in the country, if you wanna live in the Hamptons, it’s expensive, if you want to live in Laguna Beach, it’s expensive, if you wanna live in Lake Tahoe, It’s expensive You want to live in Aspen, it’s expensive. This isn’t a Jackson problem, it’s simply too many people want to live in a small place that happens to be beautiful. Supply and demand. Advice: Live where you can afford and don’t squander your happiness on blaming others for your socioeconomic status.
Rich people like Wyoming, and Montana because they want to relax, enjoy life, and slow down a bit. You can own a lot of land cheaply, have a lot of space, and own acres to support horses or cattle and your log cabin mansion with little fear of crime. They can keep their supercars, helicopters, and jets with relative anonymity and safety. Also, the deserted center of the US will remain far from WW III and nuclear fallout.
Cheyenne resident here. The city is actually closer to 100k because of of all the county enclaves and surrounding development. There is also a a ton of data centers here now and more being built. Lots more industry is moving in now. Don't move here though as the city is full of alcoholics and drugs because of covid. And yeah tons of rich people are here solely because of the lack of taxes. The state and cities also completely ignore lower wealth people in favor of the rich. There is also massive amounts of corruption and nepotism in every facet.
Just how did covid make your city full of druggies and alcoholics? It may have created a situation where they were more noticeable, but having the flu does not make one an alcoholic.
@@RoySATX The alcoholics were already here, the druggies are because of covid. Should have worded that better. But lot's of people turn to drugs when downtrodden. Covid caused a lot of people to lose their jobs, rampant inflation, corporate exploitation, lower wages, etc have also played into it.
I have a friend who did some housekeeping work in Jackson, WY and went to one of the downtown bars for drinks after work, and got to talking with the young man next to him at the bar about his dreams and career desires and how he hated housekeeping, etc - dude supposedly didn't even beat his heart twice before offering him 2 million dollars with a part-ownership deal to go and start his business. I haven't heard from him in a while, but I think he's still running the business with that guy as his investment partner.
Odds of that are up there with never gonna happen. Glad your friend got lucky.
*Appreciate your videos! I’m 54 and younger generations should know there’s no shortcut to acquiring wealth, but there are ways to go about it. Fellow millionaires don’t tell the poor/middle class they need the knowledge of finance coaches to help build their wealth. If anyone here needs a good coach, here’s it..*
Elizabeth Greenhunts
get to her with the name
I really made a financial mistake by not purchasing land around Jackson when I lived there in the early 90's.
It was a cowboy town 50 years ago. I miss the old Jackson Hole.
Teton in french (téton) litterally mean breast. This video was pure gold.
Twas' the French that named it after all 😂
It means "nipple" tobe exact
Tetón in Spanish means a man with large breasts
Actually, it means “tits.” A diminutive form of breasts. What is humorous is that the Americans, always going for the superlative, called the area the “Grand Tetons!” One of the best oxymorons ever.
@@weissmorris8822 well in Spanish Tetón is the masculine for big breasts haha so the grand Tetons actually makes sense
15.50 an hour plus free housing and other benefits is still WAY more than minimum wage workers in almost any other part of the country. Very few states have more than $15 minimum wage, and those that do, social housing costs quite a bit more than “free”.
So while I do agree in general the working class need a living wage, the people here seem to be doing far better than most.
BYW did you factor in the housing benefit to the 47000 number?
Plus also factor in tips based on those high restaurant prices.
1.) taxes
2.) the rich want to be away from the peasants
I remember going to Jackson every year when I was a kid until about 2010. Until then the town was so quiet and humdrum, they didn't even have traffic lights until a few years after.
Kemerer is nuts. My buddy had to live there on a mine reclamation project and a prospective landlord recommended beating up his problematic future neighbor before moving in to settle the score. But during the right time of the year it’s one of the prettiest places.
I worked in those coal mines... politics come and go, but there is over a thousand years of coal ready for use. And IF, we need more, all we have do is dig alittle further.
Love the Breckenridge Colorado Pic at the end of the video
Unreal timing on this video with their highway recently collapsing
My buddy lives in Jackson and works at the hospital. Went to visit him recently and his 1 bedroom apt. costs 2,500/month. For comparison, I live in Sun Valley, ID and pay the same price for a 3bdrm condo right by the Sun Valley lodge. Both are similar towns but the cost of living is so much higher in Jackson. There's really no point to my comment other than to share some random info.
Cheers everyone
They're concentrated near Yellowstone; first in Jackson, then Cody. Now reaching Lander.
There's also a lot on the East side of the Bighorn Mountains in Sheridan, Buffalo and Story areas.
They've driven real estate prices out of reach of the working class people. It's crazy!