So Connecticut’s residents, who voted for the legislature that passes these high taxes, will move to lower tax states, and elect legislators who will raise taxes.
Is this a great country or what?
I moved from my home of 45 years, Seattle, to Kentucky in 2011.
I refused to buy real estate in Seattle. I now have 32 acres and a four year old home. It includes two streams, three natural wells, two knobs and two hollers. My ANNUAL real estate taxes are 60% of my friends MONTHLY real estate taxes for a single acre in Maple Valley Washington.
Gone Galt?
I’m a New Mexican, and hate these stories.
While I welcome conservatives like yourself, New Mexico has been ruined by Californians leaving the high tax state for New Mexico and then proceeding to elect Democrats who start imposing all sorts of stupid things and also ruin this state.
Same happened to New Hampshire (Massholes) and Colorado.
Liberals are like locusts. They eat and ruin their territory and move on.
Welcome, we need more like you to offset the Californian leftist parasites who destroyed their own state and now flood into Texas.
1. All those financial services people working in New York City living in southwestern part of the state.
2. The huge tax revenue from the presence of ESPN in Bristol, CT, a small town west of Hartford, CT.
3. The presence of Yale University in New Haven, CT.
Otherwise, people are leaving the state in a big way.
federal tax: 40%
social security, medicare: 7.5%
self-employment tax: 7.5%
—
total fed tax: 55%
how do i avoid that again? move to another country?
sorry... the US is the only country in the world that believes anyone claiming US citizenship must pay federal taxes no matter what country they reside in. and the taxes are on their WORLD WIDE income, not just the monies made within the US.
when you spend more then half your life working for someone else... your life is not your own.
Sorry CNBC, looking at your scatter plot, states with the same high tax burden i.e. California (slight inbound) and New Jersey (mass exodus) have widely different migration patterns.
Similar low tax burden: Ohio (mass exodus) and North Carolina (mass inbound).
A weak correlation. Weather and work demographics are more powerful.
Do a scatter plot of average days of sunshine vs. migration. Much stronger correlation I bet.
Wait until you start paying the ridiculously high property taxes in Texas.
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.
This is bullcrap.
People LOVE high taxes.
Why else would they keep voting for them?
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.
I just did a quick glance at Zillow.com for recently sold homes in Minnesota with my square footage and similar location. Sold prices were 1/3rd of my appraised value (homes sell for way over tax appraisal here) and they had acreage and were newer than my tiny lot and old crappy house. The thing that holds me here is I grew up in the house but that charm is fading.
Move where? The Serengeti? Taxes are the curse of the living.