General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThere's A Reason Bill Gates And Jeff Bezos Both Call Washington State Home
http://www.businessinsider.com/washington-best-state-for-the-wealthy-taxes-2013-1Why does the wealthiest man in America live in Washington?
The answer is in a report released this week by the Institute on Taxation and Economic Policy.
Washingtons tax system is the most disjointed in the nation, leaving rich residents including Bill Gates, the country's richest with more money in their pockets, and the poor with even less to scrape by on.
The wealthiest 1 percent in the state of Washington who bring in an average income of $1.1 million pay only 2.8 percent of their income toward state taxes. By comparison, that state's poorest 20 percent earning an average income of $11,500 shell out nearly 17 percent of their income to the government, according to the report.
In fact, Washington is one of nine states in the country without a personal income tax. Instead, it relies heavily on sales taxes, which often hit lower- and middle-income families the hardest, and property taxes.
Read more: http://www.businessinsider.com/washington-best-state-for-the-wealthy-taxes-2013-1#ixzz2JeJhSuqc
Honeycombe8
(37,648 posts)That's the smart thing to do. I certainly wouldn't want to move somewhere that would tax me more. That doesn't make sense. So unless I just really want to live in some location with high taxes, I wouldn't do it.
Washington state is beautiful, though. So that's probably another reason.
He didn't devise the state tax systems. Neither did I or you. We just move to where it's better for us than where we are now, if we can.
I want to move somewhere, or stay where I am, where the state does not have state income taxes at all, actually. But they get you coming and going...if they don't have a state income tax, then other taxes will be higher. They're still gonna get the money from you.
HiPointDem
(20,729 posts)Honeycombe8
(37,648 posts)HiPointDem
(20,729 posts)behind the push for a state income tax.
he's not worried about his own taxes; he has ways of avoiding them.
Honeycombe8
(37,648 posts)HiPointDem
(20,729 posts)Honeycombe8
(37,648 posts)state income taxes.
Warren Stupidity
(48,181 posts)dixiegrrrrl
(60,010 posts)in a huge house which was the subject of much press and magazine coverage back when he had it built.
CBGLuthier
(12,723 posts)After being in Albuquerque for a few years he moved his company back to his hometown. But lets bash him for that.
HiPointDem
(20,729 posts)one *pushing* a state income tax.
because, like all rich people, he can easily avoid it. he can avoid the sales tax too.
bezos, otoh, is actually an alien. a real alien.
Logical
(22,457 posts)liberal_at_heart
(12,081 posts)It is nearly impossible to live in this state unless you have a tech job. I seriously don't know how fast food workers live in this state at all. There are a few low income citites but compared nationally even they are expensive. We do have a higher minimum wage than other states, but I don't see how it can possibly make up for the cost of living that people have to pay to live here. I know some people who have chosen to move to Idaho to get away from the cost of living here in WA state.
sadbear
(4,340 posts)That's why the BFEE is in Texas and Florida.
AngryAmish
(25,704 posts)bluestate10
(10,942 posts)Not everyone think taxes in every waking minute.
octoberlib
(14,971 posts)Ten states Washington, Florida, South Dakota, Illinois, Texas, Tennessee, Arizona, Pennsylvania,
Indiana, and Alabama are particularly regressive. These Terrible Ten states ask their poorest residents
those in the bottom 20 percent of the income scale to pay up to six times as much of their income in
taxes as they ask the wealthy to pay. Middle-income families in these states pay up to three times as high a
share of their income as the wealthiest families
The main finding of this report is that virtually every states tax system is fundamentally unfair, taking a
much greater share of income from middle- and low-income families than from wealthy families. The
absence of a graduated personal income tax and the over reliance on consumption taxes
exacerbate this problem in many states.
http://www.itep.org/pdf/whopaysreport.pdf