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Tired of high taxes? Maybe it's time to move.
CNBC ^ | 6/23/2015 | John W. Schoen

Posted on 06/23/2015 9:10:04 AM PDT by mn-bush-man

Everyone complains about taxes. But millions of American households apparently are doing something about it: Picking up and moving.

A CNBC analysis of tax data and figures provided by two major national moving companies shows that states with the highest per-capita taxes, for the most part, are also seeing the biggest net migration out of those states.

Take Connecticut, for example.

Earlier this week, the Nutmeg State's legislature approved a collection of new taxes to close a two-year, $40 billion budget to help pay the multibillion-dollar tab to repair and replace the state's dilapidated roads and bridges. The package includes a 50-cent-per-pack hike in cigarette taxes and a bump in tax rates on corporations and the state's wealthiest earners.

The budget battle drew heated debate, along with threats from large employers like General Electric, which issued a rare statement that it might consider moving its Fairfield headquarters.

Republican opponents warned that the tax hikes would likely drive residents to flee to lower-tax states. One legislator suggested that a local moving-and-storage company up for sale should do a booming business moving households from the state.

"I think the best buy in Connecticut right now is a business for sale in Westport," Michael A. McLachlan, R-Danbury, told the AP earlier this month as the debate wore on. "For $650,000, a sharp investor can get up and increase this business into a mega moving company, because that's what people are going to be doing, starting today."

snip...

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Government; News/Current Events
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To: sten

“when you spend more then half your life working for someone else... your life is not your own.”

+1

Self-evident to anyone who will take a moment from their hamster wheel to pause and think.


21 posted on 06/23/2015 9:46:14 AM PDT by aMorePerfectUnion ( "Forward lies the crown, and onward is the goal.")
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To: sten
I believe you can qualify for about 92K in the form of a tax exclusion.

So, if you can find a way to make and live on less than that, you can free yourself slowly from the shackles.

I guess if you are a couple you can look into not being married. Not sure how that would work. Many places where you can live OK on 90k though.

22 posted on 06/23/2015 9:50:23 AM PDT by riri (Obama's Amerika--Not a fun place.)
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To: henkster

Liberals soil their own nests and then move on to a new nest to destroy.


23 posted on 06/23/2015 9:51:07 AM PDT by Blood of Tyrants (A free society canÂ’t let the parameters of its speech be set by murderous Islamists.)
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To: sten
federal tax: 40%

I see your problem. You make too much money. Stop it. Stop it now and leave some money for the poor people who don't make enough money, then your taxes will go down.

/sarc

24 posted on 06/23/2015 10:02:10 AM PDT by Quality_Not_Quantity (Liars use facts when the truth doesn't suit their purposes.)
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To: mn-bush-man

Wait until you start paying the ridiculously high property taxes in Texas.


25 posted on 06/23/2015 10:07:29 AM PDT by ViLaLuz (2 Chronicles 7:14)
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To: mn-bush-man

Earlier this week, the Nutmeg State’s legislature approved a collection of new taxes to close a two-year, $40 billion budget to help pay the multibillion-dollar tab to repair and replace the state’s dilapidated roads and bridges.

...

Politicians love big construction projects. They and their cronies can essentially steal money with little chance of getting caught.


26 posted on 06/23/2015 10:11:18 AM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: mn-bush-man

This is bullcrap.

People LOVE high taxes.

Why else would they keep voting for them?


27 posted on 06/23/2015 10:16:51 AM PDT by Tzimisce
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To: TheThirdRuffian

A Colorado native is an endangered species.


28 posted on 06/23/2015 10:23:04 AM PDT by SpeakerToAnimals (I hope to earn a name in battle)
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To: sten
how do i avoid that again? move to another country?

Move to Puerto Rico where full-time residents do not pay federal income tax income earned in PR.

29 posted on 06/23/2015 10:23:50 AM PDT by Labyrinthos
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To: McGruff
Some of us Freepers are from Connecticut but we’re way outnumbered. Too bad it was a good state when I moved here but the libs took over.

Lived in southwest CT (Fairfield County) from the mid-seventies until 1992. Taxes during that era were still reasonable in CT. In fact to the extent neighboring Westchester County in NY state property values were less because of their high tax rate, pay more for a home in SW CT but save in taxes. Not anymore ...

30 posted on 06/23/2015 10:32:31 AM PDT by BluH2o
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To: Tzimisce

rich people love high income taxes because it keeps the nouveau riche at bay.

the Kennedys never met a tax they didn’t love, so long as it didn’t apply to them. income taxes affect those who work. but if you inherited your money, you never have to worry about income taxes.


31 posted on 06/23/2015 10:39:48 AM PDT by TangibleDisgust (The Parmesan doesn't go like that.)
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To: cuban leaf

I moved from California to Texas (and vote the same way one place as the other).

Does Kentucky have an income tax? Texas does not, but makes up for it on property taxes. If I buy, I will buy property that can be assessed as agricultural as that has a lower tax rate. Is Kentucky that way as well?


32 posted on 06/23/2015 10:45:29 AM PDT by bajabaja (Too ugly to be scanned at the airports.)
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To: henkster

Exactly.

And fully one-third of them will probably move to Virginia.


33 posted on 06/23/2015 11:06:03 AM PDT by WayneS (Don't blow smoke up my ass and tell me it's raining...)
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To: cuban leaf

I’m happy for you and yours..but don’t you think that TWO “hollers” is just a bit too, well... much? I’d settle for just one..


34 posted on 06/23/2015 11:09:44 AM PDT by ken5050 (If Hillary is elected president, what role will Huma Abedin have in the White House? Scary, eh?)
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To: TheThirdRuffian

Don’t forget Virginia.

My beloved Commonwealth is being destroyed by New Yorkers, New Jersians and New Englanders who succeded in befouling their own nests in the north with their leftist, nanny-stater demands, and who now migrate southward in great numbers, searching for places of unspoiled beauty and freedom so that they may fall upon them like packs of diseased hyenas and start the vile cycle again.


35 posted on 06/23/2015 11:17:48 AM PDT by WayneS (Don't blow smoke up my ass and tell me it's raining...)
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To: cuban leaf

Sounds wonderful.

So, when’s the First Annual FReeper Kentucky Road Trip, Campout, Pig Roast and Bourbon Tasting?

;-)


36 posted on 06/23/2015 11:25:55 AM PDT by tanknetter
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To: ViLaLuz

Wait until we pass a law, in TX, that you have to be a property and/or business owner to vote. (LOL...Dreaming, again.)


37 posted on 06/23/2015 11:41:15 AM PDT by Jane Long ("And when thou saidst, Seek ye my face; my heart said unto thee, Thy face, LORD, will I seek")
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To: ViLaLuz

At my current Minnesota residence, I pay $5,208 in property taxes based on an estimated value of $467k for real estate tax purposes. On top of that, I pay state income tax (9.85%), sales tax (6.75% to 7.25% - groceries exempt), state gas tax (6%), and if I happen to die while living in Minnesota I will also pay death tax (9-16%).

My plan in Texas is to by a “nice-ish” house that is surrounded by a whole lot of dirt, grass, and trees. I have no desire for a McMansion. Our hearts are longing for McAcreage instead. By the time we move we will be debt free. I think we’ll be fine on the property tax front.


38 posted on 06/23/2015 11:46:22 AM PDT by mn-bush-man
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To: Jane Long
Wait until we pass a law, in TX, that you have to be a property and/or business owner to vote.

Who really pays property taxes on rental units, the landlord or the tenants?

My home is paid for but I wouldn't deny the vote to renters.

39 posted on 06/23/2015 11:54:10 AM PDT by Graybeard58 (7 more shopping days 'til, Graybeard 58's b/day! The BIG seven ohhhh.)
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To: mn-bush-man

Don’t expect lower taxes in Texas. Sure, we don’t have a state income tax and our sales tax is 8.25% but we have the 13th highest property tax rate. I said countless times on FR how our property taxes have gone from what amounted to 2 weeks of income to over 3 months of income. There are 13 neighbors who turned their homes into vacation rentals just so they can hold on to them. Neighbors who are not renting out are having to delay retirement and get second jobs and have special savings accounts just for property taxes. I’ve tried for years to hire someone to fight our taxes because I haven’t found the right loop hole on my own but they’ve turned us down each time because the appraisal value has increased more than what they’re allowed to legally increase the taxes (even with a few fuzzy math increases to their advantage which adds up over time). Appraisal increases here would make Californians run screaming. We’re outside the city so aren’t being charged city taxes and have homestead exemption but it’s killing everyone out here. Make sure you check the property taxes on wherever you live and plan on them increasing the legal (plus fuzzy math) 10% each year.


40 posted on 06/23/2015 12:23:30 PM PDT by bgill (CDC site, "we still do not know exactly how people are infected with Ebola")
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