Vermont: The Worst State for Taxes on Retirees (Feel the Worm)

Kiplingers ^ | 02/10/2016 | David Muhlbaum

[Kid Shelleen]

High taxes can be a killer for people living on fixed incomes. That's why retirees should carefully weigh a state's tax picture before committing to live there

We analyzed the tax policies of all 50 states and the District of Columbia to identify the worst states for retirement when it comes to taxes. We looked at state sales taxes and income taxes, including taxes on Social Security, as well as property taxes, estate taxes and inheritance taxes. Our conclusion: The Green Mountain State will leave many retirees seeing red.

[Kid Shelleen]

Bernie's war on Seniors.

[rstrahan]

Why we see people moving to Florida and Texas.

[centurion316]

Socialist Paradise. Unless you actually worked for a living.

[MUDDOG]

retirees should carefully weigh a state's tax picture before committing to live there

I don't think many retirees would want to move there.

More of an issue for retirees wanting to remain there.

[beethovenfan]

A preview of what the whole country will face if Bernie the Red ever gets in. We’ll become Venezuela.

[Kid Shelleen]

That’s why socialists need a strong national government. They never cut expenses. They just try to get more money from Uncle Sugar.

[BlueStateRightist]

Some of the states on that list are surprising. For example, Utah is one of the worst states to which you should retire.

[VTenigma]

We’ve been the highest tax burden ( ratio of taxation to income all taxes combined ) for quite some time. I also live in the highest tax burden community in the state ( what is called a “gold town” for education tax purposes )

Now the commie legislature and governor have mandated a $15 minimum wage and mandatory paid sick leave, bye bye small business. Couple that with the most liberal entitlements of the 50 states.

[Beowulf9]

Sanders does not set the state taxes though. That is done by the Governor and the State Legislature.

[Daffynition]

Property taxes in Vermont are actually lower than property taxes in New Hampshire.

[Daffynition]

Why blame Sanders?

I’m not sure how as mayor of Burlington, VT he affected enactment of VT state taxes. I’d like to learn.

[RetiredTexasVet]

If Vermont is the worst then the other New England states cannot be far behind .... they were the seat of liberty and freedom and now they are the Progressive ghetto of communism!

[Kid Shelleen]

>> Why blame Sanders? <<

Bernie is of the state's most powerful politicians. If the citizens of Vermont elect a socialist to one of their most important political positions don't you think they favor big government? Wouldn't you think Sander's would have lots of political capital to influence other local and state reps?

[Daffynition]

No.

[who knows what evil?]

Most can’t afford to leave...

[Vermont Lt]

Vermont sucks now. The taxes are crazy. They do give a break to seniors with low income. But as soon as my mom moved out of her house, the taxes on her property were raised to about 4x what she was paying.

I couldn’t sell that house fast enough.

[Kid Shelleen]

Here is an interesting article on what sanders did as mayor of Burlington.

The two main things he did was shift from property taxes to "other options" like an entertainment and payroll tax and he also increased the state income tax when Reagan cut the National Income Tax.

Tax reform is at the heart of the Sanderist program
the main hopes rest in the hands of the state legislature. Sanders wants the state to grant cities more local options (such as entertainment taxes, a payroll tax shared between place of a worker's residence and work, and a local income surtax), some reimbursement for tax-exempt properties, more state revenue sharing, greater property tax relief and the right to set different property tax rates for different categories of property. Sanders urges the state to disconnect its tax system from the federal tax breaks under Reagan and recover much of the upper-income tax savings through the state income tax.

How Bernie Sanders Put Socialism to Work in Burlington: A Profile from 1983

[kearnyirish2]

NJ is up there as one of the worst; our sky-high property taxes are frozen when you retire, but they still too high for most people on fixed incomes - so they have to sell their homes and leave. Third Worlders are imported to keep the housing occupied, and they then fill the schools (driving taxes even higher - 75% of our property taxes are for public schools).

NJ is changing very quickly demographically with the “graying of America” because of the tax burden here.

[KosmicKitty]

Figures. That’s where I’d like to retire to.