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Old 07-12-2020, 07:14 AM
 
19,394 posts, read 6,440,042 times
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Quote:
Originally Posted by Boss View Post
The reality is that earning's are also lower in Tx. and most Southern states. The claim that cost of living being lower is failing. The price of a car, house, rent, food are becoming the same across the nation.
Tax's are being pushed lower to property owners. More item's are being taxed as property here in the south then I ever saw in NJ. I still see lower Real Estate taxes, but I now pay more in State taxes and fees then ever (GOP for taxes).
You think the price of a house is becoming the same across the country? My cousin bought a relatively new single-family ranch house in a nice suburb in South Carolina for $160,000 (garage, granite counters) whereas a 30-year-old townhouse without a garage and with outdated Formica countertops in the DC suburbs sells for $400,000.
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Old 07-12-2020, 07:18 AM
 
Location: the very edge of the continent
88,572 posts, read 44,302,488 times
Reputation: 13521
Quote:
Originally Posted by Rachel976 View Post
You think the price of a house is becoming the same across the country? My cousin bought a relatively new single-family ranch house in a nice suburb in South Carolina for $160,000 (garage, granite counters) whereas a 30-year-old townhouse without a garage and with outdated Formica countertops in the DC suburbs sells for $400,000.
Exactly. I'm beginning to think there are a LOT of people who have absolutely NO clue.
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Old 07-12-2020, 07:26 AM
 
Location: Salisbury,NC
16,752 posts, read 8,117,766 times
Reputation: 8511
Quote:
Originally Posted by InformedConsent View Post
VERY far from the truth. For example, my oldest child rents a 692 sq ft studio apartment plus one parking space in the building's underground garage in Chicago's North East Loop for $3,200/month. That's $38,400/year for a less than 700 sq ft studio apartment.

You have NO clue. I've posted a copy of my last IL real estate tax bill before I moved out of IL, here it is again. Look at the various taxing bodies/districts. 19 tax line items:

Real Estate Tax Bill

And, yes, I was paying just under $1,000/year for the local public library. JUST the library. Not even all that big of a building. Small collection.
If he is able to pay that his earning's have to be very high. What would that same position pay in Dallas or Charlotte? So you say he rent's, how much of that rent cover's his amenity's and the real estate taxes of the property owner.
Here are the listing's for uptown Charlotte. Having been to Chicago only once, not sure about the prices in your son's area. http://www.searchcharlotte.com/uptow...=referral&gcli

I know that earning's in the South are lower. When I transferred from NJ to Charlotte my earning's dropped as my high earning's in NJ were above the scale in NC.
I did not mind paying high school taxes in NJ because the education they received was excellent.

Thankfully my pension is based on my total earning's.

So as I said the only area where there is a saving is in Real Estate taxes. The State has doubled taxes on more item's from Cell phones, cable, water, sewer (both storm and sanitary) property. Property being personal property, cars, boats, atv's, sales taxes, excise taxes, registration fees. Fees for permit's, planning, gas taxes.

States and cities have to pay their bills. Taxes come out one way or the other. So you get what you pay for.
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Old 07-12-2020, 07:28 AM
 
19,394 posts, read 6,440,042 times
Reputation: 12309
Quote:
Originally Posted by InformedConsent View Post
Exactly. I'm beginning to think there are a LOT of people who have absolutely NO clue.
Yup. Another example: a friend of mine lives in a so-so area slightly north of Raleigh, NC, and she rents a two-bedroom apartment for $1200. Here in the DC suburbs, a one-bedroom can easily run you twice that.

Back to tax cuts: I’d like to see the cap on which SS benefits are taxed be raised. It was set maybe 20 years ago and hasn’t been pegged to inflation. As it stands, a person with an income of $25,000 in retirement (and that is counting half of SS) has to start paying taxes those benefits. Let’s at least raise it to $30,000, which is still a very modest income.

Various ways to pay for it. That could be another thread.
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Old 07-12-2020, 07:34 AM
 
Location: the very edge of the continent
88,572 posts, read 44,302,488 times
Reputation: 13521
Quote:
Originally Posted by Boss View Post
If he is able to pay that his earning's have to be very high. What would that same position pay in Dallas or Charlotte?
Why wouldn't it be the same? The position is director of operations/supply chain management for a global cloud computing company. That job can be done from any location. Wouldn't have been my choice, but as a millennial, my child has chosen to pay more for living in a highly desirable area in a world class city.
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Old 07-12-2020, 07:55 AM
 
Location: Free State of Florida
25,246 posts, read 12,375,937 times
Reputation: 18879
Quote:
Originally Posted by tijlover View Post
The rich don't pay taxes anyway, they hire expensive tax consultants to avoid paying taxes. So you raise taxes, and the biggest beneficiaries, as always, will be the tax consultants.
The top 1% richest paid more than the bottom 90% COMBINED!

The top 1% paid 38% of all taxes.

The top 50% paid 97% of taxes, the bottom 50% paid 3%! (this is outrageous )

Those tax consultants that the rich people are hiring must be idiots! They are failing miserably at getting the rich out of paying huge sums of taxes.

https://taxfoundation.org/summary-of...a-2020-update/


Let me help you out since I'm rich (top 2%), & hire expensive tax consultants to avoid paying taxes...

My CPA's job is to minimize my (& my company's) tax exposure....legally. The tax code is too complex for me to navigate (I only have an MBA), and I'm too busy running my company, to keep up with the ever-changing tax code. I hate how complex it is, and how much I have to pay people to navigate it.

Trump has made it a lot simpler, but there is still a long ways to go.

Did you know I've paid Hundreds of Thousands of $'s in to State & Federal unemployment, yet I am prohibited by law from every filing for unemployment?

Did you know I have to match my own Social Security, so I pay 2x as much as others? I pay 12.4%, not the 6.2% most pay.

When you include income taxes, payroll taxes, state corp taxes/fees, property taxes, county occupational taxes/fees, sales taxes, & every other type of tax/fees, I'm paying 64%+ of my gross earnings to taxes! It was 70% when I lived in Georgia, so I moved to Florida to escape 6% state income taxes.

I've never been audited, & never cheated on taxes. People like you who think all rich people are tax cheats disgust me. A few are, but most are not.

If my paying 66% (2/3rds of what I make) isn't fair, how much is fair? Give me a number.

If Biden jacks taxes, I'm done. I'll just retire...rich. I keep doing it for those I employ, & those who benefit from the commerce I create. If Biden's elected, those people will suffer, not me...sad.

Stop listening to CNN, & the liberal media crap..they are brainwashing you into biting the hand that feeds you.
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Old 07-12-2020, 08:29 AM
 
8,808 posts, read 2,469,189 times
Reputation: 4600
Quote:
Originally Posted by Finn_Jarber View Post
You can spell whatever fake news you want, but the budgets Paul was referring to were written by GOP. No clue why you'd deny simple facts. Its almost as if you are proud of your ignorance. They wanted a tax cut while increasing spending by 21%.


https://www.youtube.com/watch?v=DDIVoyf_0o8
Okay, so now I have the exact date of the quote, it was from February 8 2018 meaning it was a debate about a continuing resolution to fund the rest of FY2018 where they ended up with a 779 billion dollar deficit.....and Democrats complained that the spending cuts to make it ONLY a 779 billion dollar deficit "takes a sledgehammer to what remains of the American Dream"

The next year, your Democrats took over and they increased that deficit to 984 billion dollars.....and then further increased it to well over 2 trillion the year after that.


But sure think kiddo, tell me again how your Democrats are so much more fiscally responsible simply because they want to jack up taxes on everyone while spending money like a drunk teenager with their daddy's credit card.

You simply cannot hide your partisan nature.
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Old 07-12-2020, 09:10 AM
 
Location: Free State of Florida
25,246 posts, read 12,375,937 times
Reputation: 18879
Quote:
Originally Posted by bobbythegreat View Post
Okay, so now I have the exact date of the quote, it was from February 8 2018 meaning it was a debate about a continuing resolution to fund the rest of FY2018 where they ended up with a 779 billion dollar deficit.....and Democrats complained that the spending cuts to make it ONLY a 779 billion dollar deficit "takes a sledgehammer to what remains of the American Dream"

The next year, your Democrats took over and they increased that deficit to 984 billion dollars.....and then further increased it to well over 2 trillion the year after that.


But sure think kiddo, tell me again how your Democrats are so much more fiscally responsible simply because they want to jack up taxes on everyone while spending money like a drunk teenager with their daddy's credit card.

You simply cannot hide your partisan nature.
RAND PAUL FOR PRESIDENT!
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Old 07-12-2020, 09:54 AM
 
8,808 posts, read 2,469,189 times
Reputation: 4600
Quote:
Originally Posted by beach43ofus View Post
RAND PAUL FOR PRESIDENT!
I'd certainly support him, he'd be infinitely better than anyone who has run for president on either major party platform in a really long time.
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Old 07-12-2020, 09:59 AM
 
45,676 posts, read 23,830,639 times
Reputation: 15558
Quote:
Originally Posted by Rachel976 View Post
You think the price of a house is becoming the same across the country? My cousin bought a relatively new single-family ranch house in a nice suburb in South Carolina for $160,000 (garage, granite counters) whereas a 30-year-old townhouse without a garage and with outdated Formica countertops in the DC suburbs sells for $400,000.
Not in my neck of the woods South Carolina....lol

Average house price is over 500K.

But yeah it's different -- but wages are different. You don't make DC proper or New York City wages in the southeast ---- that's for sure. Here in Charleston SC wages are okay -- not as good as ATlanta but the cost of living is much higher. It's hard for young professionals to find decent apartments...forget the working class.

Anyways.....

I would like to see tax cuts revisited.

I think after this health crisis, the economy isn't going to bounce back and we are going to have deficits bigly....and at some point we should try to reign in spending and increase revenues.

For all that the economy was doing great for 10 years before COVID, we sure didn't pay down any national debt.

Reality -- both parties spend too much of our money. They collect it and spend it differently but the net effect for us is the same.
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