Posted on 04/23/2018 7:49:16 AM PDT by SeekAndFind
There has been a vast, largely unheralded migration in the U.S. over the past decade. Not because of weather, or amenities. But because of taxes.
Recently, Wallet Hub published a list of states ranked by their tax burden, based on property taxes, income taxes and sales taxes as a share of personal income.
The five states that impose the biggest tax burden on their residents are, in order: New York, Hawaii, Maine, Vermont and Minnesota.
The five states with the lowest tax rates: Alaska, Delaware, Tennessee, Florida and New Hampshire.
Right away there are some obvious similarities between the groups.
None of the 10 highest-tax states has voted for a Republican president in recent elections, for example. On the other hand, only three of the 10 lowest-tax states voted for Hillary Clinton in 2016 — Delaware, Virginia and New Hampshire.
But there's a far more important similarity among high-tax states, and one that should be sounding alarm bells there. They are steadily losing population.
We split the Wallet Hub list in half, and then looked at net migration for all the states from 2007-2016, based on census data. That is, where have people already living in the country moved over those years?
The findings are eye opening.
Between 2007 and 2016, all but three of the 25 highest-tax states lost population. The 5 biggest losers: New York (which lost 1.3 million), California (-928,627), Illinois (-717,445), and New Jersey (-516,326), and Ohio (-346,792).
At the other end of the spectrum, all but five low-tax states gained population. The biggest winners: Texas (1.4 million), Florida (845,239), North Carolina (549,148), South Carolina (361,117), Washington (313,722).
All told, the 25 high-tax states saw a net loss of 4.9 million people to states with lower tax burdens.
(Excerpt) Read more at investors.com ...
If you flee from California and do a 1031 swap, then change the use of the new property within 5 years, California will “CLAW BACK” -their wording- any tax savings you had from the original 1031 exchange.
Bastards.
Wrong superset. Take the population of the top 25 and add it together.
The figure that matters is the price of a one-way U-Haul rental. Price to go from Dallas to SF, around $400. Price to go from Dallas to SF, around $1300.
Libs from the Northeast and West Coast should NOT come here. We are an Open Carry state and EVERYONE has those big scary military grade, fully, semi-automatic, belt fed 50 cal AK-1000's. Or something.
Stay in your Safe State places where you are completely protected by "This is a gun free zone" signs.
SeekandFind, nice list. Do you have a pointer to where the results were calculated. I want to send it to friends
I’m in #48 Tennessee. We own 44 acres of land, a four bedroom house, a very large equipment shed, and my property taxes are only around $600 a year depending on property value at the time. The house is an older (1954) farm house that is more sound and built better than most new houses today. Our state sales tax is higher than most but that is more fair than taxing property owners at a high rate. We also don’t have a state income tax.
Let’s hope they are really ‘Americans’ and not just Liberals posing as Americans.................
Nope. If you want to bring a van back to SF from Dallas, they practically give it to you for free.
If you want to escape SF for Dallas (and Dallas is starting to show some wear as a result by the way), it’s $1300.
Florida, #47!...........................
Question: How is the quality of healthcare over there and how much does the average Tennessean pay a year?
That’s true. We are looking to move further south and several people told us not to bring our Yankee ways with us. (Gus at Chris’ Hotdogs, I mean you!) I doubt I convinced them that I wouldn’t.
Yeah, people are just flockin’ to Chickenland...
Is it really a tax issue or freedom issue? There may be a correction, but I think it is really about freedom.
Freedom is not absolute but relative. There is more freedom in certain places.
Want absolute freedom, be an anarchist....................
Liberal States = Corruption
Kentucky has an income tax. However, they don’t tax SS, and if you made good money all your life (i.e. your SS monthly payment is over $2500), you can live here pretty comfortably on SS alone. They even cut your property taxes at age 65.
I think this is called a typo, but it might be lexdyksia...
Iowa looks high, but remember that we get to deduct our federal taxes on the IA1040, lowering the effective rate. Our top bracket is much lower than most................
Although we left Yankee land 35 years ago, I am told that I am everyone's "favorite" yankee in these-here parts...
Problem is 49% are entitled now.
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