Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Gene Eric

This is in many ways quite artificial.
NY and CA (and TX) residents include many of the largest corporate owners in the US, besides these states being the HQ’s of the largest national corporations.

They report income in these states based on their operations everywhere else. The money they make in South Carolina is (mainly)reported in New York or CA.

Add to that that they also are the home of the largest lenders and holders of debt, revenues from which are also reported there.

If each state were an independent country (a hypothetical), its tax laws would require reporting local operations income to be duly taxed.


20 posted on 11/29/2017 12:06:23 PM PST by buwaya
[ Post Reply | Private Reply | To 5 | View Replies ]


To: buwaya

Big earners avoid travel to and residency in the Big states to avoid the displaced tax revenue you described.

The fed revenue contribution data I referenced are readily available. The displaced corporate taxation you described is not. Furthermore, it would benefit corporations to decentralize taking advantage of the tax benefits available in the lower states. NY for example is having difficulty retaining corp revenue which is no doubt an issue in other Big states.

I’m not condemning any state, but the notion that red states are subsidizing blue states is absurd.


25 posted on 11/29/2017 1:12:10 PM PST by Gene Eric (Don't be a statist!)
[ Post Reply | Private Reply | To 20 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson