Comments on: Hate Paying Income Tax? Move.

By: Broke M.B.A.

Broke M.B.A. — Tue, 17 Nov 2009 17:51:26 +0000

@ Financial Samurai – I hear you. I love living in Texas for several reasons, only one of which is zero income tax. I’ve heard California is broke, but I haven’t heard anything about Texas. It does make you wonder if part of California’s problems have to do with their high state income tax. Are small businesses fleeing to safe havens with lower taxes?

@ Craig – I agree, not many happily agree to higher taxes. I’m no economist, but as Financial Samurai pointed out, California has one of the highest state income taxes and they are still broke. I’m not sure how Texas is doing financially, but I don’t think they are having the same problems, and they don’t have a state income tax. I find it interesting. Obviously spending is the other half of the equation…

By: Craig

Craig — Tue, 17 Nov 2009 16:56:48 +0000

No one wants to get taxed more but it seems like the only source of income for States or the country for that matter is to tax the very wealthy. Not sure what other options they have.

By: Financial Samurai

Financial Samurai — Tue, 17 Nov 2009 14:09:06 +0000

I really CANNOT wait to set up residency in my vacation property in Lake Tahoe, Nevada once I retire!

10% state income tax is killin me, and California is broke!