Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
no pedro, you are suggesting that we not only create dozens of differing corp rates, you would find that profits earned in King county would be subject to one rate, while the sale of goods 10 miles to the south would be taxed at another rate.
a corp would find itself charging all sorts of rates all across the nation. You are just adding to overhead and regulation.
furthermore it could result in a race to the bottom, with Corps forcing states and counties to bid against each other, thus eventually resulting in low to neg real tax rates.
the idea is awful pedro.
Are you suggesting business taxes are the same in every state and county across the US?
Also, are you suggesting that businesses will relocate to save on taxes?
That is crazy expensive, yes I feel bad for you . Hopefully your able to put enough down to only have to mortgage 500k. But still deducting mortgage interest on 500k out of a 600k isn't too bad. I think the outrageous housing prices in that area is the bigger issue. You almost need a household income of 250k to responsibly afford a 1 bedroom condo and household income of 400k for a 2 bedroom. That's unreal
It’s super ridiculous here. In a span of 10 years the housing market morphed into a SF Bay Area-esque nightmare. We’re fortunate enough to not have to worry about mortgage but it certainly gives me pause when I think about diversifying our investment portfolio with local real estate. Taking out a mortgage instead of paying for the property in full so you can invest the money in higher return instruments used to sound really good. It might still be but these new proposals are not putting the cherry on top. Oh well. Lots of people work hard to keep pace with the economic boom in Seattle. I think these proposals make things just that much worse for those of us who live here. Yikes.
People need to remember the Senate still has to weigh in so there will be changes.
Ignore political spin from both sides and see what the business websites and channels have to say since money is their business. This is one from Business Insider.
We have to find revenue somewhere and the 10k cap on state on local won't hurt middle class. It may affect some upper middle class but mostly the highest earners in high tax states will feel it which is fine with me
The HIGH TAX states will fight it tooth and nail - they feel free to tax their citizens to the max and then max it out again because they tell them "it's free - you don't have to really pay this, you can deduct it and let the rest of the states share the pain". Only one way for people to take back their States - allow them to see how their High Tax States are taking advantage of THEM and of all of us.
People need to remember the Senate still has to weigh in so there will be changes.
Ignore political spin from both sides and see what the business websites and channels have to say since money is their business. This is one from Business Insider.
You have a good point. This is just the House Republicans dream bill and it will not only face scrutiny in the Senate, but every lobbying group in the country will be taking shots at it. Home builder stocks dropped 2% today. When the "examples" come out and affluent (but not rich) Americans see how this would hit their pocketbooks, lots of Republicans will be getting phone calls. It may never even pass.
That is crazy expensive, yes I feel bad for you . Hopefully your able to put enough down to only have to mortgage 500k. But still deducting mortgage interest on 500k out of a 600k isn't too bad. I think the outrageous housing prices in that area is the bigger issue. You almost need a household income of 250k to responsibly afford a 1 bedroom condo and household income of 400k for a 2 bedroom. That's unreal
The Bay Area is even worse.
Sometimes I wonder what the point of the US being so geographically large is if everyone just wants to cluster in a handful of cities.
Are you suggesting business taxes are the same in every state and county across the US?
Also, are you suggesting that businesses will relocate to save on taxes?
You are correct i wrote that very poorly , i should try to stick to one thing at a time.
I wanted to say it would result in counties racing to bottom as some shift the tax burden and others don't .
There would be a whole range of new taxes should that be done, corps would see huge differences in taxation and passing that cost on. King county is a good example because the taxes here are much higher than other parts of the state. if my city pushed the burden to local medium size corp they would protest loudly and some would move away to a city that did not etc .
it would result in all sorts of burdens.
The HIGH TAX states will fight it tooth and nail - they feel free to tax their citizens to the max and then max it out again because they tell them "it's free - you don't have to really pay this, you can deduct it and let the rest of the states share the pain". Only one way for people to take back their States - allow them to see how their High Tax States are taking advantage of THEM and of all of us.
They need to clean up their own back yard.
Yep. If they want their citizens to get tax breaks, they need to pay for them. The best way is for such states to raise their taxes on the rich and corporations.
I'm not sure why liberals oppose such an idea. I can only imagine it's for strictly partisan reason, which is why none of them explain why it's not a good idea.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
. Hopefully your able to put enough down to only have to mortgage 500k. But still deducting mortgage interest on 500k out of a 600k isn't too bad. I think the outrageous housing prices in that area is the bigger issue. You almost need a household income of 250k to responsibly afford a 1 bedroom condo and household income of 400k for a 2 bedroom. That's unreal
