Opinion: The tax bill deserves to die

Discussion in 'Taxes and Accounting' started by ajacobson, Nov 4, 2017.

  1. sss12

    sss12

    #41     Nov 5, 2017
  2. DTB2

    DTB2

    Their property tax is not high as you implied it was high to offset the lack of state income taxe.
     
    #42     Nov 5, 2017
  3. Sig

    Sig

    I pretty clearly laid out why Florida is able to have lower overall taxes based on their immigrant from other states retiree population, so clearly you'll be able to pick a state that has higher overall taxes and just as clearly what Florida has going for it isn't replicable in IL even if we put you in charge and you got to implement anything and everything you wanted. As Kansas so nicely showed us with the complete and utter failure of the trickle down "Kansas Experiment" which to be honest was a pretty cool experiment with some very similar controls in adjacent states. Cool for everyone except the residents of Kansas I guess. Let's be reasonable here and not try to compare Illinois apples to Florida oranges.
     
    #43     Nov 5, 2017
  4. sss12

    sss12

    Comparing it to one of the most mis-managed state governments is irrelevant. R1234 was missing the fact that FL gets it revenue through taxes other than income tax.
     
    #44     Nov 5, 2017
  5. R1234

    R1234

    I've been looking at property taxes in a number of places such as Boca Raton and Tampa area - they are lower on a absolute basis and on a percent-of-home-value basis compared to NY. I believe FL and TX rely more on sales tax and other consumption based taxes.
     
    #45     Nov 5, 2017
  6. Sig

    Sig

    And to be fair, your overall tax rate in FL even if you take into account sales taxes will be lower than in NY, IL, or CA for reasons I described. If you want to start a tech company, no better place than CA and the tax burden is never what makes or breaks that type of company and in the end is pretty irrelevant. If you want to retire, FL is is great place and the tax burden may be a bigger part of your decision matrix depending how well the starting your company in CA thing went. You can't reduce this to simplistic "my taxes are lower than yours therefore I'm better" analysis, and most of the country's real job creators don't, that's my main point.
     
    #46     Nov 5, 2017
    sss12 likes this.
  7. Overnight

    Overnight

    #47     Nov 5, 2017
  8. DTB2

    DTB2

    Of course they don't which is why I showed how high Illinois property tax is and ILLINOIS has state income tax. Capiche?
     
    #48     Nov 5, 2017
  9. Overnight

    Overnight

    I'll reword it...Florida does not have a "personal" state income tax. My bad.
     
    #49     Nov 5, 2017
  10. ajacobson

    ajacobson

    Yes, but in Illinois we have the best-paid politicians.
     
    #50     Nov 6, 2017