The Fight for the Soul of Seattle - NY is next?

Discussion in 'Political Discussions' started by Lerner, Dec 31, 2020.

  1. eriehiker

    eriehiker Active Member

  2. Lerner

    Lerner Well-Known Member

    My understanding is that TX has high property taxes but no income State tax.

    Nine states — Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming — have no income taxes
  3. Lerner

    Lerner Well-Known Member

  4. nosborne48

    nosborne48 Well-Known Member

    Washington State has never had a personal income tax. I bought my first house there in 1977 and had to purchase a bunch of very expensive stamps to place on the title deed before it could be recorded. State governments will obtain their revenue somehow. Texas, which also has no personal income tax, has horrendous property taxes, or so my El Paso acquaintances tell me whereas here in New Mexico property taxes are tiny.

    It would be an interesting field of research in tax policy, whether property or income taxes are better for society in the long run. Just off my LL.M. cuff, (which means no attention need be paid to my opinion), I think personal income taxes are the poorer choice for states because income tax would rise and fall with the state of the economy. When the state really needs the revenue to offset hard times, the revenue isn't there. Not a problem for the federal government which can (apparently) borrow without limit but most state governments must balance their annual budgets. New Mexico might be a special case because our state government (which has no money we're told) is actually sitting on a severance tax "rainy day" fund amounting to 25 or 30 billion (with a "b") dollars from oil and gas. Given that the 2020 state budget totals about $7 billion with a population of about 2 million (lost) souls, that's one h*ll of a "rainy day" fund!
  5. nosborne48

    nosborne48 Well-Known Member

    Cool video, Lerner. I could almost smell the sickening car exhaust and coal smoke. I remember Seattle smelling like that in the Fifties. American cities are much more pleasant places since the Clean Air Acts.
  6. Lerner

    Lerner Well-Known Member

    Well this is before I was even born.
    But I do agree with you about the Clean Air Acts. Its great to live in clean cities.
    As long as the other countries who abuse the clean air themselves try to enforce such laws on us to cripple our economy and competitiveness and soft leaders who cave to such demands.

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