People Are Refusing to Pay Crazy Taxes And Escaping Their State

More and more people have been escaping their high tax states towards more tax friendly states. The reason is pretty clear with California demanding close to a 13% state income tax, even after you are done paying 20% or more on federal taxes. There are nine states that currently do not have any state income tax such as Florida and Tennessee. If you are a remote worker or if you have your own business, it can make more sense to relocate to a tax that is more tax friendly so that you can keep more of the money you are earning. In this video, I discuss how this trend of leaving high tax states is increasing and considerations on whether you should think of moving soon.

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#taxes #tax #move

[ceuser]

Federal employees should have tax free income after all, their income can hardly keep up with inflation and government is adding insult to injury.

[amb]

Me and my partner were just talking about leaving CA. It’s just so expensive.

[DavidRodriguezPR]

That’s why I decided to retire from the Army in Texas and not NYC.

[Snerdles]

Dang, in the peoples republik of Canadiana up north our combined provincial and federal marginal income tax rate for someone making 100k ranges from 27.5% to 41.12% depending on your province or territory...

[silverpeak]

Love that statue in the back- is that Greek?

[autumn_b]

In NYC (and Yonkers), in addition to federal and state tax, we also pay local (city tax). If you live in and work in NYC or Yonkers, you have to pay local tax as well. Local taxes are for services like public transportation and sanitation. I most definitely am trying to leave NYC. I apply for jobs in areas outside of NY especially in D.C.

[ceuser]

Unfortunately, this is a losing battle. Blame it on the legislators. They have the power to change it but refuse to do it.