[retiredguy123]

Originally Posted by defrey12

It’s kind of funny that the article fails to mention the most regressive of taxes—and it doesn’t matter where one lives—Social Security from one’s paycheck. 7.5% directly to the Federal Government on every dollar earned, every paycheck. One doesn’t even get to see those dollars…gone before one gets their check.

Everyone pays 7.5 percent into Social Security, but, when they receive the benefits, low income people get a much higher income return on the amount they paid in as compared to high income earners. Also, some high income people pay a Medicare premium of about $600 per month to receive the exact same benefit that low income people receive for $175 per month.

[biker1]

The group that wrote the article is left wing but you are correct that SS is regressive, especially if you make over the maximum that is taxed. However, when it comes time to retire, the benefits are not linear with your contributions; lower income folks get a proportionally larger benefit. Also, SS is of greater benefit for lower income folks as they may not save anything for retirement if they are struggling to pay the bills. You do actually get to "see" the dollars. You can go to the SS website at see your benefits summary.

Originally Posted by defrey12

It’s kind of funny that the article fails to mention the most regressive of taxes—and it doesn’t matter where one lives—Social Security from one’s paycheck. 7.5% directly to the Federal Government on every dollar earned, every paycheck. One doesn’t even get to see those dollars…gone before one gets their check.

[Rainger99]

Originally Posted by Dusty_Star

Rainger dude, you most certainly did. This is your post:

Florida is the worst state in the country when it comes to tax fairness!
The study also finds that DC, New York, New Jersey, and California have much fairer tax systems.

If you don't believe an article, then write your own intro.

This is a quote from the article. “Florida, on the other hand, has the most regressive state and local tax system.”

The article also lists the states from most regressive to least regressive and Florida was listed first.

The intro was an accurate summary of the article.

Just because someone posts an article doesn’t mean they agree or disagree with it.

[TomPerry]

Originally Posted by Rainger99

The study also finds that DC, New York, New Jersey, and California have much fairer tax systems.

Who Pays? 7th Edition – ITEP

Please note, the Blue States on the map at the link are considered “the fairest” and they also give you the highest combined income/sales taxes, regulation, crime and intercity filth!

[Eariquier]

Originally Posted by ThirdOfFive

Heh. "Fair" is in the eye of the beholder. Like art. If you like it, it's good.

Moving here from Minnesota about four years ago...

1. My income tax bill has shrunk by about 1/3. Minnesota (where I hail from) is 4th highest in State income tax paid. Florida has no state income tax.

2. I pay quite a bit less in property tax in Florida...on a house that is valued at nearly twice my former home.

3. I don't have to pay for a fishing license in Florida.

4. Law enforcement (funded by tax money) is far better and more reliable here than back where I came from.

5. I pay nearly a full percent less in sales tax in Florida than I did before I moved here.

6. Minnesota ranks 5th in the nation in state estate taxes collected. Florida HAS no state estate tax. Important. Especially now.

7. The license fee on our primary vehicle is nearly 70% LESS per year than it was in Minnesota.

These seven items are what just came to mind. There are probably more financial advantages to living here than the ones listed.

Fair?

Oh yeah!!

Thanks for sharing the facts. Have had a similar experience with Massachusetts (TAXachussets) would never go back!

[FredMitchell]

Maybe the best definition of "fair" in taxation would be that the amount is per capita!

Using a rate as a measure of fairness is a cheap trick used by the politicians who created federal income taxes. It was created to appeal to the broader base of lower income and wealth. Do people who pay more at the same rate get preferential services from the government?

With a flat tax, not rate, politicians could be asked how much their programs would cost per person. I can't think of a more effective tool to reduce the budget.

People can't fathom $1 billion. They can understand $3 per person.

[Jazzman]

Originally Posted by Rainger99

The study also finds that DC, New York, New Jersey, and California have much fairer tax systems.

Who Pays? 7th Edition – ITEP

This is a left leaning liberal “think tank” as categorized by many independent organizations that focus on tax codes across all levels of government. For an analysis of the ITEP opinion, go to tax foundation.org for an unbiased review and analysis.

[dshoberg]

Originally Posted by ThirdOfFive

Heh. "Fair" is in the eye of the beholder. Like art. If you like it, it's good.

Moving here from Minnesota about four years ago...

1. My income tax bill has shrunk by about 1/3. Minnesota (where I hail from) is 4th highest in State income tax paid. Florida has no state income tax.

2. I pay quite a bit less in property tax in Florida...on a house that is valued at nearly twice my former home.

3. I don't have to pay for a fishing license in Florida.

4. Law enforcement (funded by tax money) is far better and more reliable here than back where I came from.

5. I pay nearly a full percent less in sales tax in Florida than I did before I moved here.

6. Minnesota ranks 5th in the nation in state estate taxes collected. Florida HAS no state estate tax. Important. Especially now.

7. The license fee on our primary vehicle is nearly 70% LESS per year than it was in Minnesota.

These seven items are what just came to mind. There are probably more financial advantages to living here than the ones listed.

Fair?

Oh yeah!!

We're also from MN...everything you stated plus political views prompted our move to FL

[Haggar]

Originally Posted by OrangeBlossomBaby

If high income people were only allowed to take the same standard deduction that lower income people had to take, then that'd be fair, right? No more itemizing, no more tax breaks, no more write-offs. Standard deduction for everyone. And you pay the same tax rate on the net income after that deduction.

Problem is, that means the ultra-high income folks would actually have to pay taxes. Right now they can itemize enough that they pay no income tax at all.

The ultra-low income also pay no income tax, or they end up with a full refund on what they've paid.

Everyone else pays to cover the ultra-low income AND the ultra-high income, both of whom pay no income tax. The ultra-low can't afford to pay it. The ultra-high income can afford it, but prefer to place the burden on everyone in the middle, including low (but not ultra-low) income people.

Here's the reality on rich people's "itemized deductions".

Itemized deductions for the most are taxes, mortgage interest, medical and charity.

Most "rich" people have paid off their mortgage - so no interest.
Sales & real estate taxes are capped at $10,000.
Medical expenses are reduced by 7.5% of income so usually no deduction there.
Which leaves charity - some "rich" don't give charity - the result is they use the standard deduction.

So if charity really is the only mechanism which pushes taxpayers into itemized deductions and you take away that - how will that effect charitable giving? Many good minded will not change their habits but the others may stop giving. Do we want that?

[mikemalloy]

Originally Posted by Rainger99

The study also finds that DC, New York, New Jersey, and California have much fairer tax systems.

Who Pays? 7th Edition – ITEP

It's only 90 miles from that fair country Cuba. I don't see too many Floriadians fleeing to that equality paradise.

[Topspinmo]

Originally Posted by OrangeBlossomBaby

People living in poverty still need to eat, still need toilet paper, still need clothing, shoes, electricity, hot water, heat when it's cold and cool air when it's sweltering hot, transportation to and from work assuming they are able to work and have jobs, soap and shampoo, still need all the same things that people who don't live in poverty need.

They already pay the same tax that the wealthy pay on those things. If you raise that tax, only the poor will feel the change. Another 50 cents a gallon in gas won't hurt someone in Florida who has $250,000/year in income. But it could force someone who only earns $20,000 a year to choose whether to buy fresh fruits and veggies and healthy proteins, or settle for the dollar menu at the fast food joint again, pushing themselves deeper into poor health just so they don't spend their day with an empty stomach.

If YOU?

Hey! there few thing I don’t like but taxes on anything is one of them. The federal government makes more on gallon of gas than producers. Federal, state, and local governments are solely responsible for high taxes or taxes. The problems are they won’t manage other people’s money and just pluck more from money tree of its citizens after all the money tree never ending source.

If want blame someone put blame where it belongs.

[JRcorvette]

There are other States that cost a lot less to live in but you will need to be able to deal with their weather (cold and or show). Florida is not a cheap as it use to be… nothing is.

[manaboutown]

Originally Posted by defrey12

It’s kind of funny that the article fails to mention the most regressive of taxes—and it doesn’t matter where one lives—Social Security from one’s paycheck. 7.5% directly to the Federal Government on every dollar earned, every paycheck. One doesn’t even get to see those dollars…gone before one gets their check.

And yet one pays income tax on SS withholdings as if one actually received the money and could go out and spend it!

[Birdrm]

Originally Posted by Normal

Move to Florida, taxes on a new home with bond average 10,000 a year plus, and that’s without amenities, insurances or your annual income taxes!

That is not true in all areas of The VIllages, I moved here 2 years ago and bought a new courtyard villa and my total tax bill with the bond is $5200.

[mrf0151]

Originally Posted by Normal

Move to Florida, taxes on a new home with bond average 10,000 a year plus, and that’s without amenities, insurances or your annual income taxes!

Not sure what you are talking about actually. We have had a home in Florida for 20 years now.
Taxes on our 2000 square foot home is $2800.00 annually. Cost of living is much lower than the vast majority of other states.