Every state has taxes. I live in Texas and we have property taxes out the ass. The total effective tax rate difference between Texas and Oregon is something like 2%. The difference is even smaller between Oregon and Florida
Oregon’s effective income tax rate of 23.37% for individuals
Florida
Florida – one of nine states without state income taxes, all of whom rank in the bottom 10 of FinanceBuzz’s burden list – had an effective rate of 15.52
Those numbers you just cited are the total effective state and federal income tax rates, and only the income tax rates. It doesn’t account for property taxes or sales taxes, which is how states without income taxes fund their governments. Oregon has no sales tax, for example, but in Texas we have a 7% state sales tax. Texas’s median property tax rate is more than double Oregon’s too.
The reason there’s such a crusade against income tax coming from the right is because property and sales taxes are much more regressive, shifting much of the tax burden to people who have lower incomes and letting the wealthiest keep more of their money. In the end, the total average tax burden is roughly the same in most states, it’s who pays that tax burden that’s different.
I think every state should have an income tax and eliminate or reduce sales and property taxes. I think every state should implement capital gains taxes too. The wealth inequality in the US is out of control
The map I shared is the total average state and local tax burden by state, accounting for all forms of taxes. My point is the total tax burdens in Florida and Texas are only marginally lower than Oregon, so if you move to Florida, you’re going to discover you really aren’t going to save much money in the end, because you’re not Jeff Bezos liquidating $50 million in stock on a whim
It saved bezos 600 million. Based on my calculations it’ll save me about 1000 a month in expanses.
You have to take the total tax burden as my first article had to realize the real savings in moving.
The SALT cap is one difference from blue to red. Since blue states tend to have higher state and local taxes, you cap the tax deduction which I won’t do in Florida.
The overall cost of living is cheaper as well.
But no I won’t save bezos money but I will save another persons income amount.
One of the worst medical systems in the country, venomous reptiles, arachnids, and insects everywhere, cockroaches the size of a silver dollar, alligators that eat your pets, humid weather that’s impossible to cool off in, rising elderly homelessness, a housing crisis, hurricanes every year, and a governor who is intent on setting progress back 100 years. There are a lot of reasons not to move there too.
Florida doesn’t have a state income tax. It’s why many wealthy people are moving to Florida.
That’s my main motivation to moving to Florida. I want to get away from oppressive taxes
Bro…Washington State doesn’t have an income tax either
Snap you are correct. I’m in Oregon
They do have a capital gains tax
Every state has taxes. I live in Texas and we have property taxes out the ass. The total effective tax rate difference between Texas and Oregon is something like 2%. The difference is even smaller between Oregon and Florida
https://www.usnews.com/news/best-states/articles/2022-01-24/these-states-have-the-highest-and-lowest-income-tax-burdens-study-finds
Oregon
Oregon’s effective income tax rate of 23.37% for individuals
Florida
Florida – one of nine states without state income taxes, all of whom rank in the bottom 10 of FinanceBuzz’s burden list – had an effective rate of 15.52
Those numbers you just cited are the total effective state and federal income tax rates, and only the income tax rates. It doesn’t account for property taxes or sales taxes, which is how states without income taxes fund their governments. Oregon has no sales tax, for example, but in Texas we have a 7% state sales tax. Texas’s median property tax rate is more than double Oregon’s too.
State and local effective tax rate
Oregon: 10.8% Texas: 8.6% Florida: 9.1%
The reason there’s such a crusade against income tax coming from the right is because property and sales taxes are much more regressive, shifting much of the tax burden to people who have lower incomes and letting the wealthiest keep more of their money. In the end, the total average tax burden is roughly the same in most states, it’s who pays that tax burden that’s different.
I think every state should have an income tax and eliminate or reduce sales and property taxes. I think every state should implement capital gains taxes too. The wealth inequality in the US is out of control
We don’t have sales tax in Oregon. The property tax is high but not horrible. Texas has a brutal property tax.
Do you have context to what the diagram is claiming?
The map I shared is the total average state and local tax burden by state, accounting for all forms of taxes. My point is the total tax burdens in Florida and Texas are only marginally lower than Oregon, so if you move to Florida, you’re going to discover you really aren’t going to save much money in the end, because you’re not Jeff Bezos liquidating $50 million in stock on a whim
It saved bezos 600 million. Based on my calculations it’ll save me about 1000 a month in expanses. You have to take the total tax burden as my first article had to realize the real savings in moving. The SALT cap is one difference from blue to red. Since blue states tend to have higher state and local taxes, you cap the tax deduction which I won’t do in Florida. The overall cost of living is cheaper as well. But no I won’t save bezos money but I will save another persons income amount.
Fuckin yikes! Are you sure it’s that high for State income tax?
The numbers that guy cited include federal income taxes and Medicare/SS taxes
State is around 9.9 for Oregon vs Florida 0
That number quoted at 23% is for various taxes and not just income
But you guys don’t have sales tax. We pay over 10% on everything we buy.
No sales tax but the cost of everything has went up drastically the last few years.
Oregon use to be very cheap. Those days are gone.
If I take my family out to eat, it’s about 1/2 the cost in Florida.
What do you mean by overnight?
It means I hate autocorrect. Fixed it. Everything. The cost of everything has went up.
Ah gotcha. Yes it sure has. Almost overnight!
I think you’d be right at home in Florida, I understand why you would wanna move there
Nice weather. Low tax structure. Disney world.
It’s why it’s a fast growing state.
One of the worst medical systems in the country, venomous reptiles, arachnids, and insects everywhere, cockroaches the size of a silver dollar, alligators that eat your pets, humid weather that’s impossible to cool off in, rising elderly homelessness, a housing crisis, hurricanes every year, and a governor who is intent on setting progress back 100 years. There are a lot of reasons not to move there too.
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lol, nice weather. If you want to start sweating as soon as you step out the door and don’t mind not being able to insure your house due to storms.
I’m self insured on that property.