GR and I do not share many YouTube Subs, but interestingly enough? This guy is one of them. He's not entirely wrong, but like most datatainers he often confuses data with truth. I usually do listen-only with him but I'm validating a 500kb/s backup internet system for backup comms while surfing PC so I watched this one just to see if I can do both at once. The video doesn't really bring much to the experience so I'll keep loading them to go. He's right about one thing with this video, nobody gets a free ride but this does not necessarily mean that states that have no income taxes are "ripping you off." BIG government types hate consumption and excise taxes because they tend to be flatter and have much fewer carve outs that they can exploit to curry favor with voters (or punish others.) He did admit that the no-income states may not be the worse fiscally administered states. That's not a red state/blue state thing since in our 52 state laboratory of democracy there are some of each. There are also 13 states that do not tax retirement income, and some states reduce or eliminate property taxes during your last dozen or more laps around the sun. 40-something US states do not tax social security. As always, it's a YMMV thing.
Despite law that prohibits personal income tax, Washington State doesn't really belong on the "no state income tax" lists anymore. With some creating wordsmithing since approved by the state Supreme Court, a certain item (capital gains) that counts as personal income for federal income tax, has now been redefined as something else for state tax purposes, thus subject to "excise tax." Functionally identical, only spelled and pronounced different. This year, the Legislature is working to tax ordinary income too. I don't yet know what verbal legal contortions they are using to get around the existing prohibition, because it is so bald-faced that even the legislators are calling it an income tax. The thresholds where these taxes start are placed very high, so not (yet) to catch commoners, but nobody believes that will remain true. This video's claim about my state's effective sales and property tax rates are puzzling, appearing to seriously understate sales tax and overstate property tax. The Tax Foundation's figures appear much more realistic. But there are plenty of other disguised tax bites hidden elsewhere.
When we lived in New Hampshire, we found out quickly that no income tax means high everything else tax. There were even taxes we’d never heard of before
Yep; it's a well know fact that it's easier to get a penny from many people; than to ask for C-notes from cheap rich people. The magic happens through inflation; as more and more commoners get caught-up in that trap. I bet dollars to dough-nuts that there isn't an inflation index built into that final bill to ensure that it ONLY snares the so called rich.... My old crappy union wanted to increase dues, so they hatched a plan to claim it was to bankroll a strike fund. I repeatedly ask them for the "final" amendment draft and never got it - so our facility voted it down. Unfortunately, it passed overwhelmingly overall. We found out why I was stone-wall on that draft a year later. There was an inflation index built into it - so the union got themselves annual inflation increases, while we got a 3-5 year contract that didn't keep up with inflation. Bravo for the union, winning it for themselves..... In my state, they are called FEES, since we passed a law that requires all new taxes must be voted upon and passed by a 2/3 majority. You see a lot of that in vacation and hotel bookings; some disclosed - most not, they just show up in your final bill. Deceptive????? You know it's bad when congressmen are asked to do something about this. I've been noticing a new trend on those cheap flight n hotel booking apps. Some do disclose the property fee, up front - but most AI booking doesn't include those fees in the cheapest booking rankings. Buyer beware and you get what you paid for - (regarding that app)... There are NO free lunches, because taxes are paying for it.
So your $375/month in the hole when your start drawing a check plus fed and local taxes. Good new is; if you don't buy anything and don't have to eat - you can avoid the local taxes. I was probably somewhere around there, working part-time for minimum wage in high school..... Most parents I know now-a-days won't let their kids work fast-food and have the possibility of getting a gun pointed in their face. I thought it built character; the two times that happened to me. It definitely made me work harder to get educated and not get stuck in a low paying job like that........ I don't know, because my state passed a $20/hr fast food worker minimum wage a few years ago. I've never thought of it as a career. I don't know if $20/hr is worth getting a gun stuck in your face. I'd probably just sign up for ICE to get the $50K signing bonus and flunk the open book test by using google AI for the answers.
From what I found a few days ago, Alabama does not tax Social Security and most government pensions. Private pensions and retirement benefits appear to be a mixed bag, some taxed, others not. Tax rate starts at 2%, and very quickly hits a max of 5%.
Yep, it's actually comical to see so many young people, especially those in college, embracing big government and even going so far as to dream about a utopian society where everything is happily shared and nobody owns anything, everyone is equal! Since 1848, with the publication of the Communist Manifesto (Carl Marx and Friedrich Engels) it's been tried again and again....only to lead to famine, pain and suffering and violence. In the 1900's, over 100 million people died because of communist regimes. Now, New Yorkers elected the communist-in-chief and they, already have pain, suffering, and deaths....that didn't take long! Mamdani has come out with a $127 Billion budget for 8.5 million people while Florida's STATE budget is $116 Billion for 23 million people. Public School teachers voted for Mamdani by 65% and, now, he's already raiding their retirement accounts to pay for his communist budget. The clown hasn't even been Mayor for 6-months and already running out of money....what a joke.... "The problem with socialism is that you eventually run out of other people's money". --Margaret Thatcher More from the great MT "One of our principal and continuing priorities when we are returned to office will be to restore the freedoms which the Socialists have usurped. Let them learn that it is not a function of the State to possess as much as possible. It is not a function of the State to grab as much as it can get away with. It is not a function of the State to act as ring-master, to crack the whip, dictate the load which all of us must carry or say how high we may climb. It is not a function of the State to ensure that no-one climbs higher than anyone else. All that is the philosophy of socialism. We reject it utterly for, however well-intended, it leads in one direction only: to the erosion and finally the destruction of the democratic way of life." "There is no such thing as 'safe' socialism. If it’s safe, it’s not socialism. And if it's socialism, it’s not safe. The signposts of socialism point downhill to less freedom, less prosperity, downhill to more muddle, more failure. If we follow them to their destination, they will lead this nation into bankruptcy."
Moved to Pennsylvania prior to retiring. No state taxes on pensions, 401.k’s/IRA’s, or Social Security. Works for me. For all retirees/potential retirees… Retirement Taxes: How All 50 States Tax Retirees | Kiplinger
We have almost always paid more state income tax than fed income tax. And I gladly pay more for the state and locality where I live than to fed.gov for things we don't directly benefit.
