(Replying to PARENT post)
The Economist did a special report last year comparing Texas and California, looking at a lot more than just tax rates. They are the two largest states facing many similar problems with very different approaches.
https://www.economist.com/leaders/2019/06/20/texafornia-drea...
https://www.economist.com/special-report/2019/06/20/californ...
(Replying to PARENT post)
The main problem with CA are the "hidden" taxes WRT quality of life. Real estate prices being insane. Serious homeless problems in SF. Smoke from all the fires. PG&E being evil, etc.
(Replying to PARENT post)
1. Are they moving to Florida to take advantage of a tax shelter alone or have they also sold off any NY/California real estate. That is, people move for strategic reasons even if they believe in California/NY
2. Young people vs Retirement - retiring to Florida is not a new thing.
3. Wouldnโt you want old people to move away from high cost cities so young can move in?
(Replying to PARENT post)
There is definitely a threshold where people start arbitraging tax differences between States, though it doesn't happen often because demographic and lifestyle preference dimensions also factor heavily. The partial de-correlation between tax policy and predominant demographics/lifestyle in recent years, combined with relentless tax increases in some jurisdictions, has created an environment ripe for tax arbitrage.
(Replying to PARENT post)
The truth is that if you want to dramatically increase taxes collected, you need a broad-based tax that hits the middle class. But the middle class hates taxes as much as everyone else! And therein lies the problem for politicians. They can continue to bash the rich, but when push comes to shove soaking them wonโt solve the problem. Seizing all of Bill Gates money will only fund the federal deficit (over $1 trillion this year alone) for a few months. And then what to do?
One enormous, immoral handout to the middle class is the mortgage interest tax deduction and the fixed-rate 30 year mortgage which are simply subsidized handouts to people well-off enough to purchase property. People have come to think this is a right, when in reality all taxpayers are handing over money to those rich enough to purchase property. Only the USA has the fixed-rate mortgage because itโs bad business for banks. Eliminating this would be a much more economically logical way to increase the tax take than soaking the rich, but I guarantee there is 0% chance of this happening because, again, no one likes paying taxes!
(Replying to PARENT post)
(Replying to PARENT post)
(Replying to PARENT post)
> When tax rates are not explicit, millennials say they'd prefer larger government offering more services (54 percent) to smaller government offering fewer services (43 percent). However when larger government offering more services is described as requiring high taxes, support flips and 57 percent of millennials opt for smaller government with fewer services and low taxes, while 41 percent prefer large government.
(Replying to PARENT post)
2. Very few data points, no trends over time, no examination of other causes of population flows etc.
My conclusion: This is a pro-corporate propaganda piece: They want low/no taxes and an even more maleable and precarious workforce.
Sounds like standard pro-corporate propaganda.