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Inspired by a discussion in the thread about L.A. planning regarding tradeoffs on taxes, and whether high property taxes and low or nonexistent sales taxes and income taxes is better than low property taxes and high income and sales taxes.
If you could eliminate one tax in your state, which would it be?
States that have eliminated one or more of these taxes make-up the difference somewhere else, so it depends on who you feel the difference should fall on. I have a few wealthy relatives who like to keep properties in NH avoid income and sales tax (larger purchases like cars, vacations, etc.); I'm sure many more do the same in that state, but I've never seen them spend a winter there... which is like half the year up there.
States that have eliminated one or more of these taxes make-up the difference somewhere else, so it depends on who you feel the difference should fall on. I have a few wealthy relatives who like to keep properties in NH avoid income and sales tax (larger purchases like cars, vacations, etc.); I'm sure many more do the same in that state, but I've never seen them spend a winter there... which is like half the year up there.
That's what inspired the thread. I asked Malamute whether he'd prefer high property taxes and no income tax (the Texas model) or high income taxes, high sales taxes, and low property taxes (the California model).
Of course if a tax is eliminated it means another tax is jacked up. As I said before there is good reason to favor high property taxes with ideally no other taxes, a la NH.
That's what inspired the thread. I asked Malamute whether he'd prefer high property taxes and no income tax (the Texas model) or high income taxes, high sales taxes, and low property taxes (the California model).
Of course if a tax is eliminated it means another tax is jacked up. As I said before there is good reason to favor high property taxes with ideally no other taxes, a la NH.
Government is going to get their cut either way, so it's a wash in the end.
99% of the people on here will not pay an inheritance tax.
That wasn't a criteria. However, that might make it easier to eliminate the silly tax.
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