Posted on 07/20/2010 6:25:06 AM PDT by SeekAndFind
Stick a fork in it. It's done. I just hope when the collapse of California comes it doesn't bring down the rest of us with it.....
How long have you lived here?
< /SARC>
Ultimately, if states:
1. Spent only money that they have
2. Only borrow to invest in thing that INCREASE real productivity.
3. Taxed business, reasonably, on profits
4. Taxed consumers, reasonably, on consumption
a state would not NEED an income tax!
Instead, states borrow to pay for consumption - it is a trap that is very difficult to get out of.
Expenditure control is the key. Looking at only one state tax source doesn’t tell the entire picture when trying to compare states’ relative tax burdens.
I like a state (like NH) that relies heavily on property taxes, rather than income taxes, because that lets people know exactly how much government costs, unlike these “tax the other guy” schemes (e.g. “millionaire taxes”) that allow politicians to keep ratcheting up spending. I want politicians’ feet held to the fire on spending, not focusing on some “small” increase in the sales tax or income tax to allow them to expand spending on programs and public sector bloated salaries and retirement packages.
I have relatives up there already and they absolutely love it. He's with the Coast Guard and is scheduled to move back to the lower states next summer and they are dreading it.
Here around Cleveland OH we have state and city income tax as well as state and county sales tax.
As well as county and city property tax.
Oh, and our roads and infrastructure suck, and a good portion or our county gvt is facing indictment for corruption.
Nice place. Huh? :)
Ah yes, but how many consecutive governors have you sent to prison lately? We've got a head start there, and it looks likely we'll be able to extend the streak with the jokers we've got running now.
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