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 ...
“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.
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.
Liberals soil their own nests and then move on to a new nest to destroy.
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
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?
A Colorado native is an endangered species.
Move to Puerto Rico where full-time residents do not pay federal income tax income earned in PR.
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 ...
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.
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?
Exactly.
And fully one-third of them will probably move to Virginia.
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..
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.
Sounds wonderful.
So, when’s the First Annual FReeper Kentucky Road Trip, Campout, Pig Roast and Bourbon Tasting?
;-)
Wait until we pass a law, in TX, that you have to be a property and/or business owner to vote. (LOL...Dreaming, again.)
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.
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.
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.
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