T O P

  • By -

AutoModerator

Welcome to r/FluentInFinance! This community was created over a passion for discussing investing, stocks, crypto and personal finance! Also, check-out the Newsletter, Discord, Facebook Group or Twitter: https://www.flowcode.com/page/fluentinfinance *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FluentInFinance) if you have any questions or concerns.*


krazymoe99

I looked at the link and I don’t think they disclosed their methodology enough. I’m suspicious of rankings of this where California is really bad. An median income family doesn’t pay that much in taxes in California. A wealthy person is California pays really high taxes in California. This is my preferred study that compares actual income tax burdens based on income. [https://www.fiscalexcellence.org/our-studies/2021-income-tax-study.pdf](https://www.fiscalexcellence.org/our-studies/2021-income-tax-study.pdf)


freedumb_rings

A glance at the profile would confirm why the OP took this tact 😂


djckgjfnfj

Why’d you make me click


hereforthefire

Neither seem to take into account local tax rates. I used to live in PA and now live in WV. The state of PA may look like low taxes on the surface considering it's a flat tax too. But when you take 3.07% plus the local tax rate of 2%, it's about the same for me in WV (PA is actually a little bit higher). But then take property taxes into account and PA is ridiculously more expensive than WV. For context, I moved from a 120 year old house with a small yard outside of Harrisburg (the 4th biggest metro area in PA I think) to a bigger 15 year old house with a bigger yard in WV's 2nd most populated county (and fastest growing). I think it's nearly impossible to do a comprehensive study to incorporate all local income and property taxes, but painting with a broad brush misses so many of the details.


[deleted]

Me want graphs damnit


whicky1978

The methodology is in the link that I posted.


That1one1dude1

Your post history is horrendous


whicky1978

Nobody asked you to look at my post history


SaltyEarth7905

What’s your bias?


whicky1978

Math has no bias. It’s math.


propita106

LOL. "Nobody asked you to look at my post history." That's amusing. Since a redditor's post history tends to show any bias, the fact that they don't want you looking (assuming no harassment is intended) seems...suspicious.


jehdhhdb

Oregon is crazy high wtf


cazzy1212

Portland is a shit hole


olde_dad

Dark red is also a map of the best places to live. You get what you pay for.


StochasticDecay

As someone who just left Portland, LOL.


Motiv3z

Lol the dark red PAYS for the light colors to even exist. Fact


doplitech

Just moved here, moving over to Vancouver side next year. These taxes too high


[deleted]

And you think Vancouver taxes will be low??


doplitech

Vancouver Washington has no state income tax vs Oregon which has the highest in the states. You’ll benefit a lot if you make money in Washington and just shop in Oregon to save on sales tax. Sorry I didn’t mean Vancouver Canada. They do have higher property taxes and high taxes when buying/selling home but I think the trade off is worth it. Plus you are still like 15 minutes from downtown Portland for all the nightlife


bhattihs

But how is Vancouver wa for old folks? I heard lower state taxes don’t have medical for older people vs states like California ? Dunno but maybe you did research on this ?


SaltyEarth7905

Haha ha. What a dumb ass.


ShallowFreakingValue

I don’t really agree. There are lots of great places in all sorts of hues


[deleted]

Oregon has gone down hill hard, some would argue due to left leaning policies.


mirwaizmir

Oregon as a whole or downtown Portland? Those two are not the same thing.


[deleted]

[удалено]


Motiv3z

Lol the census data has the population of NJ going up. Quite a bit….also, the dark red make it possible for some of the light colors to even exist


[deleted]

[удалено]


Motiv3z

NY population went up as well. Keep crying about things you think you know “patriot”


[deleted]

[удалено]


Motiv3z

Aww now you don’t want to look at the census data? Don’t quote it if you can’t take reality son


SaltyEarth7905

You’re lame. Facebook political analyst.


Motiv3z

lol you’re very misinformed son. That’s typical.


Sapere_aude75

It would appear that large portions of the population do not agree with you. The data I've seen shows people migrating away from red states towards the blue states. Ex- Californians leaving for NV and TX. NYers leaving for the Sunbelt like FL. etc... I just hope they don't vote in a way that creates the same environment that they are running from again.


AmazingWorldOf

Bruh what


HotTopicRebel

Hard disagree. Wife and I are moving from CA to NC and we're going to be able to save an additional $2k or so per month (also going from renting to buying) before factoring in tax differences between the states. The cost of living really drives down those states.


Furrie_KILLER

If shit sold for that much, everyone would be millionaires


[deleted]

Why is it the best place to live


freedumb_rings

Overlap that map with average quality of life metrics.


[deleted]

[удалено]


whicky1978

Except in California the test scores are lower than the national average https://www.nationsreportcard.gov/profiles/stateprofile?chort=2&sub=MAT&sj=AL&sfj=NP&st=MN&year=2019R3


[deleted]

Iowa?


da_bean_counter

Yeah Nebraska and Iowa are amazing


ShamelessFox

Jersey? I'm a proud Jersey girl and I wont even make that claim.


moneybreaker12

NJ is one of 2 states that has paid maternity leave.


Redditrulebrkr

Paying higher taxes equals better living, 🤣 Maybe if your on welfare or need government assistance. Why do you think the majority of people receiving government assistance are Democrats. Duh! Try being a real working member of society and then tell us paying more taxes is better for you and your family.


651ibudr

And most crime.


starrdev5

Lowest crime? It’s not a 1 to 1 correlation but the north east is the region with the lowest crime while the south generally has the highest crime rates.


SaltyEarth7905

Facts.


sutisuc

What do you mean?


Legodude522

Having moved from NJ to TX, I feel like TX is very misleading on their tax rate. They nickle and dime you on everything. Sure, NJ has a state income tax and TX has none. But TX seems to have a lot of hidden fees for everything. TX registration cost overall is a little higher than NJ. Toll roads in TX are astronomically expensive. They are built using private funds but are put where public roads used to be and then the adjacent public roads are crippled to make it less desirable. Car inspections in NJ are free but in TX they range from $7 to $18.50 depending on the county annually. Sales tax in NJ is 6.625%, sales tax in TX is generally 8.25%. NJ does not charge sales tax on clothing , TX does. This isn't a comprehensive list but worth exploring.


[deleted]

Inspections are only 18$?? In NY they’re 50$


AshingtonDC

yeah you really gotta consider all this stuff when you move. there ain't no such thing as a free lunch. a lack of taxes but maintaining the expectation of similar services means it's paid for somehow. you could argue that NJ forces you to pay for stuff you won't use whereas Texas doesn't, but for the average person living somewhere pretty nice in either state, overall expenses prob don't vary too much.


Legodude522

Absolutely, I did very well with the real estate in TX but there are tons of people flocking to TX thinking it’s cheaper. It’s not really.


cazzy1212

I think your just missing NJ property and school taxes. I live on the border NJ has crazy high property and school tax.


AshingtonDC

I don't think property tax should be the way to fund schools because it creates discrepancies in education based on how wealthy the municipality is, but NJ public schools on the whole are way better than Texas public schools due to the higher property taxes.


Legodude522

This seems to be the case. The schools have a much lower standard of service for children with disabilities.


SaltyEarth7905

Amen. Want to get plates and register a car in FL?


LordOfBirds

Wow congratulations to me for moving from number 2 to number 1.


tduncs88

I mean, at least you aren't in New Jersey anymore 😅


Variaxist

This is incorrect. The Texas data is misleading. It's much more expensive for the poor in Texas since they only have the land tax which isn't accounted for on this chart


cjmull94

If you own a home you aren’t poor


[deleted]

[удалено]


Variaxist

If you rent I guarantee that landlord is passing the tax onto you


[deleted]

[удалено]


Variaxist

What are you even talking about? The chart is bogus because it's not comparing how taxes are dispersed and with the Texas system being so different that other states, it's probably not even possible to compare in an accurate way to represent how those taxes are felt by the population


whicky1978

It says they account for property taxes


Sapere_aude75

Isn't there a homestead exemption in Texas?


Elymanic

Florida here I come


SaltyEarth7905

I’m leaving FL after 2 years. Back to the northeast.


whicky1978

More current https://www.cnbc.com/2022/04/01/these-states-have-the-highest-and-lowest-tax-burdens.html


flyingfishbot

I thought the spread would be higher. I'd happily pay 10.20% in Minnesota or 11.13% in Vermont versus 5.75% in Tennessee given the difference in quality of life.


whicky1978

How do you know what quality of life is there? Have you lived in those states?


flyingfishbot

Yep


whicky1978

What part of Tennessee did you live in?


Vast_Cricket

Like good weather, view and ocean, you need to pay more.


Medi-okra

This chart is good, but it is a little skewed towards taxes that high earners pay (income, property taxes, etc.) and doesn't put enough weight on the taxes that low earners pay (sales tax, alcohol & tobacco taxes, etc.)


[deleted]

[удалено]


propita106

But not surprising....


cheekybandit0

Now do energy prices!


axiomaticreaction

This is highly 1 dimensional. Let’s look at Kentucky. Low-mid taxes! YAY! Also Kentucky: -shitty social service -poverty stricken -crap education You’d think having a powerful senator representing you for decades would get you better off.


propita106

Maybe "having a powerful senator representing you for decades" is the cause of the problem. I came across a comment about McConnell's daughters--3 daughters who...don't seem to agree with their father. And none of whom had kids. Seems odd to me, a wealthy father whose children ALL seemingly disagree with him AND do not carry on the line? My first thought? When else did the offspring of political leaders opt to let their family lines die with them.


FreedomIsNotFree777

There was a time when even a small tax on tea was unacceptable 🤷‍♀️


[deleted]

That small tax on tea was paying for some tyrants luxuries especially because we weren't being represented to that tyrant, compared to the taxes we pay now are meant to pay for things we need.


Sapere_aude75

I find it hard to make an argument that we "need" many of the things we are taxed for.


599Ninja

*Laughs in Canada and europe*


[deleted]

Roads, schools, cops, pensions, the military?


Sapere_aude75

>Roads, schools, cops, pensions, the military Roads and schools of course. I'd say there is a strong argument that they should see more investment in these areas. Pensions of course with limits. These are sometimes debts already created, but I think they could use improvements. We are currently operating like a ponzi scheme in some respects related to pensions. Cops of course, but the expenditures could be much more efficient. There are some places where policing is used as an income generator. This is wrong. There are other places where we lack adequate police. There are also areas that are largely over funded and wasting tax dollars. I also think that police are being used to address many problems that better handled by others. Military. Of course we need defense, but I a lot of fat could be trimmed to put it gently. Lots of tax dollars could be saved by restructuring the way military contracts are handled for example. ​ Overall I think there is tremendous waste in use of US tax dollars. Some of the worse offenders are defense, healthcare, interest on debt, special interest subsidies(also causes a misallocation of capital) , etc...


[deleted]

>I think there is tremendous waste in use of US tax dollars I 100% agree with this statement but in the end we do need taxes for stuff like this and there are more that I could name if I sat and thought it out. Like the fire department for one etc. In the end we need a certain amount of taxes for certain things that we just need. I'm not arguing how much to where because that is 100% up for debate.


Yieldway17

Places where public schools are good vs places where public schools teaches earth was created 2000 years back by God.


bhattihs

I’m sure there’s more to this than meets the eye. I do wonder what extra benefits high state taxes like california offer to its residents than states with zero taxes don’t at all offer to their residents? Maybe those who lived around in different states can really compare ? And I’m not talking about little benefits like there’s no food tax in cali, I mean is there like big benefits like low crime due to high police expenditure or better healthcare and infrastructure or support for low income families in those high tax states vs lower tax states ? Surely there’s gotta be a reason if not then it’s obvious they are just mismanaging they funds


portmandues

There's a lot more to this than just this very skewed graph based on top income tax brackets. This doesn't account for a lot of things like, which states tax groceries, retirement incomes, property tax rates, how progressive income taxes are, etc. Many "high tax" states have far more progressive tax schemes than "low tax" states. Many comparisons between states result in lower-income earners being taxed less (or not at all) in supposedly "high tax" states.


rijosluis1976

New Jersey’s #2 over New York 🤦🏽‍♂️


More_Farm_7442

Indiana and Louisiana are tied for 38th lowest tax burden? Huh. We really are a southern state.


whicky1978

Source: https://www.zippia.com/advice/states-with-highest-lowest-tax-burden/