Financial Sinkhole States In The Trump Tax Era
- Thread starter Arnie
- Start date
If you live and work in the city pulling in a reasonable amount, it's almost a given that you will get hit by AMT.
I always thought you had a serious loss of perspective if you'd actually move to North Dakota just to save money on taxes. But in reality the people who write and consume these types of articles generally both already live in flyover country and have their whole life, and have a an obsession about hating on the New York's and California's of the world without having spent a significant amount of time in either. Aside from retirees moving to Florida with income tax one of many deciding factors, the wealthy successful people of the world generally take advantage of that wealth to live where they want, not become slaves to it!
It is a free country, we can always vote with our feet. But in general, you get what you pay for. Even in California, the same house will cost 100 times more if it is beach front Malibu vs in the Mojave desert but many willingly pay to live in Malibu. Then there are opportunity costs and lifestyle to consider, hard to live in North Dakota if you like surfing everyday.
I think many in those sinkholes who can afford to move will end up paying about the same taxes or less in the new tax environment.
I think many in those sinkholes who can afford to move will end up paying about the same taxes or less in the new tax environment.
And most likely many more won't.
Someone has to pay for the break others are getting. That's how they game is played. Con some to believe there really is a free lunch.
We all pay less taxes! You see, you pay for the new tax law with new money: Fed will keep the printing press busy so we all think there is free lunch.
Correct - think there is a free lunch. Until WTF that lousy stinky ham and cheese costs 20 trillion dollars!We all pay less taxes! You see, you pay for the new tax law with new money: Fed will keep the printing press busy so we all think there is free lunch.