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Old 09-28-2022, 07:48 PM
 
Location: Houston
5,637 posts, read 4,962,115 times
Reputation: 4562

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Quote:
Originally Posted by done working View Post
No state income tax only federal taxes
Understood, but we were discussing a theoretical scenario in which TX enacted an income tax.
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Old 09-30-2022, 07:20 PM
 
Location: The Republic of Molossia
756 posts, read 413,475 times
Reputation: 676
Quote:
Originally Posted by Dopo View Post
About the only way you can avoid property taxes is to own a farm or a church
Everybody else is fd
people cant own tax-exempt churches in america though.

Last edited by NewMexicoCowboy; 09-30-2022 at 07:52 PM..
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Old 09-30-2022, 09:13 PM
 
15,529 posts, read 7,559,449 times
Reputation: 19435
Quote:
Originally Posted by NewMexicoCowboy View Post
people cant own tax-exempt churches in america though.
L Ron Hubbard says hold my beer...
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Old 10-01-2022, 11:42 AM
 
Location: The Republic of Molossia
756 posts, read 413,475 times
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Quote:
Originally Posted by WRM20 View Post
L Ron Hubbard says hold my beer...
technically he was not the owner since its a non-profit.
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Old 10-01-2022, 02:44 PM
 
8,181 posts, read 2,802,641 times
Reputation: 6016
Quote:
Originally Posted by supfromthesite View Post
We need to enact a small income tax and lower property taxes.
HELL. NO.

Income. Property. Pick one. The only thing an income tax will accomplish is a higher tax burden across the board.
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Old 10-01-2022, 06:14 PM
 
15,529 posts, read 7,559,449 times
Reputation: 19435
Quote:
Originally Posted by albert648 View Post
HELL. NO.

Income. Property. Pick one. The only thing an income tax will accomplish is a higher tax burden across the board.
There is no way of knowing that. How do so many other states do well with a taxation system that includes property and income?
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Old 10-01-2022, 07:08 PM
 
114 posts, read 58,522 times
Reputation: 121
Wealthy do much better in a no-income state .... state.

https://www.moving.com/tips/should-y...20income%20tax.

While many states force high earners to pay high taxes, states without personal income tax do not tax their earnings at all. This allows high earners to save much more of their money. For this reason, many wealthy individuals choose to live the majority of the year in states without a state income tax.

So multi-millionaires+ should love Texas, Florida and Tennesee for 3.
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Old 10-01-2022, 08:54 PM
 
8,181 posts, read 2,802,641 times
Reputation: 6016
Quote:
Originally Posted by WRM20 View Post
There is no way of knowing that. How do so many other states do well with a taxation system that includes property and income?
I don't trust politicians farther than I can throw them. My standard answer to more taxes is ALWAYS a big fat NO. ALWAYS.

State income tax is a dealbreaker as far as I'm concerned.

The max bracket on the federal income tax used to be 7% on incomes above today's equivalent to $14 million. We don't even have income tax rates that low anymore. Spare me. Taxes ALWAYS increase 100% of the time, and splitting the bill between an income tax and property tax is not going to change that. All that accomplishes is give politicians more ways to hide tax hikes.

Last edited by albert648; 10-01-2022 at 09:03 PM..
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Old 10-01-2022, 09:09 PM
 
1,108 posts, read 531,023 times
Reputation: 2534
Quote:
Originally Posted by LeafyDenseCities View Post
Wealthy do much better in a no-income state .... state.

https://www.moving.com/tips/should-y...20income%20tax.

While many states force high earners to pay high taxes, states without personal income tax do not tax their earnings at all. This allows high earners to save much more of their money. For this reason, many wealthy individuals choose to live the majority of the year in states without a state income tax.

So multi-millionaires+ should love Texas, Florida and Tennesee for 3.
And that's a problem having multi-millionaires living in TEXAS and spending their money here? Why not support others trying and achieving the same results in their life too? I hope everyone living here makes a million bucks.
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Old 10-02-2022, 05:52 AM
 
Location: Austin Metroplex, SF Bay Area
3,429 posts, read 1,576,051 times
Reputation: 3303
Quote:
Originally Posted by albert648 View Post
I don't trust politicians farther than I can throw them. My standard answer to more taxes is ALWAYS a big fat NO. ALWAYS.

State income tax is a dealbreaker as far as I'm concerned.

The max bracket on the federal income tax used to be 7% on incomes above today's equivalent to $14 million. We don't even have income tax rates that low anymore. Spare me. Taxes ALWAYS increase 100% of the time, and splitting the bill between an income tax and property tax is not going to change that. All that accomplishes is give politicians more ways to hide tax hikes.
But it will change. People with income will pay a little more, and seniors with reduced income (and less taxes on that) will see the benefit in a property tax reduction. That's why Prop 13 works in CA.
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