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I mean I know the common answer is going to be “because that’s the way it’s always been” but I never understood why it made sense that you should owe less to the federal govt. in taxes because you chose to live in a state that had high income and/or property taxes.
Exactly. If the voters in a given state want higher taxes, they should get higher taxes.
If the federal tax burden is good and necessary, then everyone should be paying their fair share, regardless of what else they pay anywhere else. And if the federal tax burden is too high or unfair, then it should be cut.
I like the usual complaint about income being double taxed as a result of the SALT cap. If that's the big issue, there's nothing stopping the states from giving it's citizens a deduction for federal taxes paid. Solves that problem.
Also, when people bought their homes, their budget was based on having that federal deduction for state taxes. Now the deduction... or a good chunk of it... is gone. So monthly cost of living in that house are much higher. They can't afford it anymore.
THEN THEY SHOULD VOTE TO LOWER TAXES! Not screech for more expensive government paid for on the backs of other people.
Why should I pay more to Uncle Sam because you want to send less to the nation to send more to your state government? I don't give a hoot about your state or your problems, why should I subsidize your choices?
Getting back to the "economics" topic which is the name/theme of this board, I see this as an economic migration that illustrates the validity of the "reversion to the mean" principle. The higher prices go and the farther out of whack the cost of living in some parts of the country become, the more likely the people in these areas will leave and move to a part of the country with a lower cost of living.
The net effect of this economic migration will be to lower costs and prices in the high cost area and increase costs and prices in the lower cost areas due to another economic principle called "supply and demand". Elementary economics my dear Watson.
The population of Texas is growing rapidly. Predictions are that they will gain 2-3 House seats after the census, and Florida 1-2 seats. Several states are predicted to lose a seat, including IL, NY and CA. If that happens, it will be the first House seat lost by CA.
THEN THEY SHOULD VOTE TO LOWER TAXES! Not screech for more expensive government paid for on the backs of other people.
Why should I pay more to Uncle Sam because you want to send less to the nation to send more to your state government? I don't give a hoot about your state or your problems, why should I subsidize your choices?
Either vote, or stop complaining.
Oh, you can be sure of that!
When I get my CA sample ballot next week, I'll be writing F-NO for every measure asking me to bend over again.
When election day comes I am giving a big middle finger to the Democratic party. As I said if taxing people out of their homes to give lavish pensions to themselves and their cronies is how they fight for the working people consider this a big loud "YOU'RE FIRED!!!"
The number of GenXers in my age range, say 40's, who left recently or are planning to leave in the next few years from the part of NY I hail from is staggering, judging by social media posts I've seen and other on-the-ground assessments. People at or near their peak incomes are leaving blue states in droves, same for a lot of retirees of means.
The punishing taxes and in some cases costs of living in parts of blue states will keep pushing productive people out of them.
1. Better in the political forum.
2. The CA. dream and the lure of the sunbelt has been going on for 2 generations.
3. ZeroHedge is a questionable site
4. All available information shows most people who leave a northern state do so for weather (that is, people are not leaving MA. or NH. for "lower taxes"/
5. I can affirm that as the owner of multiple houses and a relatively high income family...that I've run the numbers and although I own property in FL, it would be foolish for me to move for economic reasons.
That is, the type of person who has that type of mobility and no family, friends or job or heritage/tradition is generally not "everyman".
Oh:
6. The new inter web allows for work and other things from places that people would have not wanted to be before.
Each place is different. People have been "escaping from New York" almost forever - Edison and Ford both had places in Florida a century ago.
California is one of those places like London or Tokyo or Hong Kong - a place where you have to be if you want to work in that sector, etc.
But the CA. "dream" was over when I visited there 50 years back. In it's place is an economic miracle the likes of which the world has never seen...but that's not the same as a place where the average person might want to be.
4. All available information shows most people who leave a northern state do so for weather (that is, people are not leaving MA. or NH. for "lower taxes"/
Are you sure about that?
According to a recent survey conducted for the Garden State Initiative (GSI) and Fairleigh Dickinson University’s School of Public & Global Affairs, 44% of New Jersey residents are planning to leave the state in the not so distant future with more than 1 in 4 (28%) planning to depart the Garden State within 5 years. Unsurprisingly, Property Taxes and the overall Cost of Living were cited as the main drivers. The results also debunk two issues frequently cited in anecdotal accounts of outmigration, weather and public transportation, as they ranked 8th and 10th respectively, out of 11 factors offered.
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