CNBC: People fleeing high tax states

[BankruptcyGuy]

http://www.cnbc.com/id/102748599

[MSUguy]

Of course, the flow of households only reflects the migration patterns of people who hired these two moving companies and may not track overall population shifts.

So what exactly is the point of this article?

[Honky Tonk]

The most interesting part to me was GE, who paid nothing on a $350 bil profit a few years back, threatened to move if taxed. Buy American.

[Hermod]

The most interesting part to me was GE, who paid nothing on a $350 bil profit a few years back, threatened to move if taxed. Buy American.

The banking arm of GE made some horrible investments and the mortgage crisis made a big problem for GE. Writeoffs brought their total tax liability down to zero percent in 2009 though it was back up to 27.4% a couple of years later. Their stock has never recovered to its pre-2008 high.

[Cincinnati_Kid]

Michigan is on the list, gee, how did that happen?

[BankruptcyGuy]

Another interesting story in the local media:

http://www.mlive.com/lansing-news/in...l#incart_river

[emu steve]

Strange thing about state income taxes [[remember that being a big Prop 1 issue).

Virginia, some think as a 'low tax' state has an income tax which is technically graduated, but almost trivially so.

Almost every taxable dollar is taxed at 5% or 5.75%.

http://www.tax.virginia.gov/sites/ta...s/TAXTABLE.pdf

[313WX]

So what exactly is the point of this article?

That's what I'm wondering also...

[beachboy]

Strange thing about state income taxes [[remember that being a big Prop 1 issue).

Florida has no income tax, and with homestead exemption you get
wonderful property tax reductions if you stay for some years. Texas
and Florida have been rated as the two most business-friendly states;
Florida has ultra-modern e-infrastructure and no corporate tax, solid
growth, and a business-loving culture. Many friendly beach babes [[see
picture and URL below)...

Y'all come, heah?

[[Miss Jewish South Florida Contest, 2011) Oy vey!!!
http://www.miaminewtimes.com/music/m...-party-6444209

[emu steve]

Florida has no income tax, and with homestead exemption you get
wonderful property tax reductions if you stay for some years. Texas
and Florida have been rated as the two most business-friendly states;
Florida has ultra-modern e-infrastructure and no corporate tax, solid
growth, and a business-loving culture. Many friendly beach babes [[see
picture and URL below)...

Y'all come, heah?

[[Miss Jewish South Florida Contest, 2011) Oy vey!!!
http://www.miaminewtimes.com/music/m...-party-6444209

Are folks moving from MI to FL because of HIGH taxes or LOW temperatures?

Why would I say that? That photograph is in a paper dated December 15, 2011. And surely, not likely to have such a contest in MI on that date.

[Richard]

Watching a program on tv the other day about Minneapolis,it was listed as one of the highest tax states for both residents and business but it also had ....

The lowest employment rate.
The highest quality of life.
The most satisfied business and residents.

Before they jacked to rates up they were 6 billion in the hole and now are 1 billion in the good.
I have family up there still and they seem happy.

It was mentioned that it was not sustainable long term so maybe time will tell.

So maybe it is not the aspect of high rates but what you receive in return.

Fla does have low tax rates but also low wages unless you are self employed then the sky is the limit,low level of services in places and it is hot hot hot.

But if you are along the coast and enjoy the water there is no beating it,so maybe it is more everything is relevant according to where you live.

[Hypestyles]

Michigan needs better tax policies that benefit the poor and working classes.

[emu steve]

Watching a program on tv the other day about Minneapolis,it was listed as one of the highest tax states for both residents and business but it also had ....

The lowest employment rate.
The highest quality of life.
The most satisfied business and residents.

Before they jacked to rates up they were 6 billion in the hole and now are 1 billion in the good.
I have family up there still and they seem happy.

It was mentioned that it was not sustainable long term so maybe time will tell.

So maybe it is not the aspect of high rates but what you receive in return.

Fla does have low tax rates but also low wages unless you are self employed then the sky is the limit,low level of services in places and it is hot hot hot.

But if you are along the coast and enjoy the water there is no beating it,so maybe it is more everything is relevant according to where you live.

I assume for most people:

1). Job and family. [[Many or most) Folks don't leave family, even in retirement for say 1 or 2% reduction on state income taxes.

2). Quality of life. Some areas have excellent quality of life and folks are reluctant to leave it. E.g., folks pay dearly to live in Ann Arbor [[even if the cost of living or taxes are high). To them, it is heaven on earth.

[Hermod]

On the beach in Florida

[Richard]

yea thanks Hermod now people are going to be coming down and stealing our women.

[belleislerunner]

Florida - land of the newly weds and nearly deads.

Great place to visit 18-24. Great place to live 64+. Depressing in between.

[emu steve]

Florida - land of the newly weds and nearly deads.

Great place to visit 18-24. Great place to live 64+. Depressing in between.

Lot of truth to that.

I can't imagine anyone moving [[retiring) to Arizona [[for example) for anything but to escape cold winters. Really doubt taxes are a factor.

As far as Florida, I'm not really impressed. I'm to old for the 18 - 24 year olds. Not a fan of living in 'senior center' type communities.

[Baselinepunk]

I would rather say something nice about Baggers and Righties than live in that Hell hole called Florida.

Who would want to dodge buggy and scooter traffic 4:30 during the Early Bird rush hour?

And the cat-calls of "Get off my lawn, you damn kids!" cascading down the block as I walk down it would be just fucking unbearable.

[Richard]

I would rather say something nice about Baggers and Righties than live in that Hell hole called Florida.

Who would want to dodge buggy and scooter traffic 4:30 during the Early Bird rush hour?

And the cat-calls of "Get off my lawn, you damn kids!" cascading down the block as I walk down it would be just fucking unbearable.

You are aware of those strips of concrete that they call sidewalks? That is where you walk,not across lawns or down the middle of the street impeding traffic.

The retirees came from somewhere with their pensions which goes back to the original subject and why did they leave?

Interesting enough I have met more people from Detroit and surrounding burbs,from all ages,down here then I would probably meet in two weeks up there.

It is not really about my city is better then yours,it is more so about what would compel me to move from my city to yours.

That would be the homeowner taxes and further down the scale in a lifestyle choice is the boating aspect.

No matter where you go in the world cities and people are basically the same,there is good and bad in everything.

So if high home ownership taxes is my deterrent from moving there what needs to be done to help with that issue? Well the city leadership is on the correct path,most are doing what they can to improve their quality of life which is like climbing up the side of a ice mountain,previous city guardians squandered,stole,or never even applied for the funds that should have been used to improve the neighborhood and make life easier for residents and reasonable taxes so they do not leave.

Which every other city in the country used those funds to improve their quality of life,otherwise they would not be in their top ten best to live in to begin with.

Catch 22 is the city cannot go back and get that help but it is not to say help can come in many different forms,unfortunately the currant administration is a bit of a lame duck and Detroit does need what the rest of the country does and that is getting back to education and manufacturing and it would seem she is more shovel ready per-say or positioned to take advantage of that movement.

Yes there are places in Fla that could be considered a craphole but what state doesnt have its bad parts,Fla does produce some candidates that understand this and how it is all tied together,so at that point maybe it will be time to sell my boat and buy a heavier jacket for the winter,because it will be worth it no matter what the taxes are.

In the big picture we all sink or swim in the future and its not a game some are still playing of deciding how one city grows over another.