State wage tax why not? (Howe: home, unemployment, buying)

[hitpausebutton2]

Might been discussed before, so update this topic to more on why again texas doesnt have state taxes on wages? Missing out on lot of funds, instead of keep raising property taxes.

[C24L]

I prefer the no income tax because I plan on having a high income so the current system would work well for me.I think Texas does not have state income tax because Texas is pro-business.However, I do wish something could be done about property taxes.....i dont know what though.I would rather have high property taxes over a state income tax but thats just me.Each persons situation is different.

[hitpausebutton2]

Originally Posted by C24L

I prefer the no income tax because I plan on having a high income so the current system would work well for me.I think Texas does not have state income tax because Texas is pro-business.However, I do wish something could be done about property taxes.....i dont know what though.I would rather have high property taxes over a state income tax but thats just me.Each persons situation is different.

Well the state everybody that works pays in to it, property the owner just passes it on to the consumer if its a business deal. So yea i see it being a pro-business state.. 3+ weeks for unemployment to even kick in just gave that way when i filed last xmas. back home its one week..

Anyways, the 4-6% wage taxes help rebuild some of our state parks and schools in rural areas. Honestly arkansas tax system is more transparent than what is require by law. It helps keep property taxes low for sure, as somebody pointed out long time ago. If their wasnt a wage tax, our property taxes and other things will be higher than what we have now.

[C24L]

Originally Posted by hitpausebutton2

Well the state everybody that works pays in to it, property the owner just passes it on to the consumer if its a business deal. So yea i see it being a pro-business state.. 3+ weeks for unemployment to even kick in just gave that way when i filed last xmas. back home its one week..

Anyways, the 4-6% wage taxes help rebuild some of our state parks and schools in rural areas. Honestly arkansas tax system is more transparent than what is require by law. It helps keep property taxes low for sure, as somebody pointed out long time ago. If their wasnt a wage tax, our property taxes and other things will be higher than what we have now.

ya i might be moving to Arkansas possibly and i am not looking forward to the 6.9 percent if i wind up there.I like the no income tax set up but every government has to get money somehow whatever methods they use.

[Trainwreck20]

Whether they take the tax from your income or your property or from buying things, they are going to take it from you. Property tax, at least to some extent, is more locally controlled than state income tax.

[stanwood]

You can send as much of your wages as you want to the state. I'm sure they'd cash the check.

[Thoreau424]

It's a horrible idea - income tax. Having one doesn't mean that the state benefits or is better off. I currently live in a state that has one, and there's no obvious benefit from it, though Texas - which doesn't have it - seems to much more have it's act together. So it's just a myth that income tax or "wage tax" helps.

From a personal and worker standpoint, income tax does nothing but lower one's paycheck and income. Each year you see money taken away that you'll never get back. I've already seen money (in the tens of thousands!) taken away that wouldn't have been taken away in Texas. I could have used that money for my own purposes, and for probably better use. Even factoring in higher property taxes, it still doesn't balance out (even close). It absolutely sucks, and I can't wait to move back to one of the states without the crappiness.

Yeah, as Stanwood says above, just send them your money if you feel bad about it. Just don't doom and poison it for the rest of us.

[Texas Ag 93]

Originally Posted by Trainwreck20

Whether they take the tax from your income or your property or from buying things, they are going to take it from you. Property tax, at least to some extent, is more locally controlled than state income tax.

This. The government, from federal on down, will get their pound of flesh from you. The particulars of how they do that may vary, but for me, a lot of how I perceived it depends on my sense of parity or "fairness" with the system.

My husband and I have lived in states with no income taxes and we've also lived in states with income taxes. I had no problems with living in states with income tax where I felt the rate was reasonable. In CO, for instance, it was a flat 4.63% regardless of income. The fact that it was a flat rate made it fair in my book, and I felt the state's services made good use of those resources.

One thing to keep in mind about states like Texas that have no income tax, but high property tax, is that you have more direct control over what property tax rate you choose to pay. You can always choose to live well below your means to minimize your tax burden.

[Dopo]

Originally Posted by C24L

I prefer the no income tax because I plan on having a high income so the current system would work well for me

no income tax with property tax, punishes people that worked hard their whole life to buy a nice house
and once they retire, they don't have the income they used to have

[Thoreau424]

Originally Posted by Dopo

no income tax with property tax, punishes people that worked hard their whole life to buy a nice house
and once they retire, they don't have the income they used to have

From my experience, an income tax + lower property tax is much worse than no income tax and a higher property tax. I've done the math with real, actual numbers. It might not look too bad in just one year, but when you add up years and decades, the difference is striking.

There's a reason why Texas stands out positively across the nation in many ways, and is doing well economically. Part of it is business smarts and wise approaches in critical areas. Not having a state income tax is one of those areas.