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Thread: Tax Bill Passes in House and Senate...

  1. #13

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    Default Re: Tax Bill Passes in House and Senate...

    Relocation is a good word.
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  3. #14

    Default Re: Tax Bill Passes in House and Senate...

    Quote Originally Posted by nasa1974 View Post
    Let's keep it politically neutral. Not everything is "Fake News". We won't know how it affects each person until all the smoke clears and 2018 taxes are due. This tax reform will affect each one of us different.
    Exactly my point.

    Danny


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  5. #15

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    Default Re: Tax Bill Passes in House and Senate...

    Quote Originally Posted by nnuut View Post
    Relocation is a good word.
    Solving problems rather than running away is better, imo. (Not to mention the many reasons relocation may not be a viable solution. Heck, I won't assume everyone knows this; I'll mention some reasons: Job, Family, Health, Money, School, Etc., and simply a desire to stay where one calls home...and work to fix what needs fixing...rather than abandon that home.)
    "In the land of idiots, the moron is King."--Unknown

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  7. #16

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    Default Re: Tax Bill Passes in House and Senate...

    State taxes that are way out of line can be fixed that's up to the people living in those states.
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  9. #17

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    Default Re: Tax Bill Passes in House and Senate...

    I would think you have to ask yourself if you benefit from high property taxes, both locally and statewide. Are streets, schools, services, and other items that are funded by what I would consider "extremely" high property taxes as good as they should be? That would be the litmus test for me personally. I pay fairly low property taxes in both Texarkana and Hot Springs. Hot Springs is a resort town and lakeside community that is well funded by taxes, tourist trade and racetrack fans. Good streets, schools, and top notch services.
    By comparison, my home town lags in some areas, mostly street conditions and average schools, but not by much. And you can always pay tuition and send your kids across town to Texas schools which are rated as some of the best in the state. So, you have choices where I live. And we're 3 hours from Dallas, and 2 hours from Little Rock from Texarkana if we can't find what we want or need. 30 minutes to LR from Hot Springs. The caveat is, just about anywhere I move will have an overall higher cost of living. That's one reason my wife and I haven't relocated to Georgia to be closer to my son and his family (and the fact the bass fishing is limited at best).
    Point being, does where you reside offer bang for the buck for your family? If not, move, or stay put and work to change the tax structure. Good luck. It won't be easy. Hard to take money away from politicians who make those decisions.
    Maybe the reduction in deductible state and property taxes will spur those changes in higher cost of living states. I sincerely hope it does.

  10.  
  11. #18

    Default Re: Tax Bill Passes in House and Senate...

    Quote Originally Posted by RazorCat View Post
    I pay fairly low property taxes in both Texarkana and Hot Springs.
    Off topic, but have you ever heard of the Faulk Monster(sp)? What do you think about it?


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  13. #19

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    Default Re: Tax Bill Passes in House and Senate...

    Fouke!
    02/12/2020
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    $51.69 a Barrel, Daily Status +$1.23

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  15. #20

    Default Re: Tax Bill Passes in House and Senate...

    When I was a kid I deer hunted in south Arkansas. After watching a show about the Fouke monster, I hated going in the woods in the dark.

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  17. #21

    Default Re: Tax Bill Passes in House and Senate...

    I knew this tax bill thread would turn into a monster.

  18.  
  19. Default Re: Tax Bill Passes in House and Senate...

    Quote Originally Posted by RazorCat View Post
    I would think you have to ask yourself if you benefit from high property taxes, both locally and statewide. Are streets, schools, services, and other items that are funded by what I would consider "extremely" high property taxes as good as they should be? That would be the litmus test for me personally. I pay fairly low property taxes in both Texarkana and Hot Springs. Hot Springs is a resort town and lakeside community that is well funded by taxes, tourist trade and racetrack fans. Good streets, schools, and top notch services.
    By comparison, my home town lags in some areas, mostly street conditions and average schools, but not by much. And you can always pay tuition and send your kids across town to Texas schools which are rated as some of the best in the state. So, you have choices where I live. And we're 3 hours from Dallas, and 2 hours from Little Rock from Texarkana if we can't find what we want or need. 30 minutes to LR from Hot Springs. The caveat is, just about anywhere I move will have an overall higher cost of living. That's one reason my wife and I haven't relocated to Georgia to be closer to my son and his family (and the fact the bass fishing is limited at best).
    Point being, does where you reside offer bang for the buck for your family? If not, move, or stay put and work to change the tax structure. Good luck. It won't be easy. Hard to take money away from politicians who make those decisions.
    Maybe the reduction in deductible state and property taxes will spur those changes in higher cost of living states. I sincerely hope it does.
    You espouse a position that people in high tax states should either move away from those states or force their representatives to lower state and local taxes (which is a political position).You donít delve in depth into the things that those state and local taxes pay for in those areas, like public schools, public safety and health services, repairing crumbling roads and infrastructure in places like Los Angeles and New York, etc. , and what the consequences would be for a major loss of revenue in those areas. So people should just move away and let major metropolitan areas crumble?


    Lets get back on point. As an example of how many folks in other states are not benefiting from the tax change, in some areas in CA property taxes on a modest three bedroom townhouse can come close to the $10,000 cap in and of itself. (In NY , NJ property taxes can be much higher than that) If one has hit the $10,000 cap, they canít deduct state income tax which comes out to thousands that they used to be able to deduct... Then, on top of that, they donít get the personal exemption... These arenít rich folks that are being hurt, they are just middle class folks , including federal workers, just like you... . You do not mention that most of the deductions for corporations and upper income people are staying, while these deductions used by folks just like you living in these states are being taken away... . Why is it that these specific deductions have been taken away?


    But for a moment letís think beyond ďwill I get a tax cutĒ and ďhow will this affect my tax billĒ. And beyond the issue of whether deductions for SALT are right or wrong... Arenít any of you thinking about what the pressure will be on Medicare, Social Security AND Federal Government programs and federal benefits if the deficit significantly expands (as just about every economist says it will in spite of the rosiest growth predictions?)... Thatís simply mathematics...

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  21. #23

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    Default Re: Tax Bill Passes in House and Senate...

    Quote Originally Posted by rktect1 View Post
    I live in Illinois so this tax plan actually hurts me. But it was time to hurt Illinois as they have for 40 plus years screwed us with higher and higher property taxes. I currently pay $15,000 in property taxes on a 3200 sq. ft. $600,000 home. Its crazy.
    Sounds like the time to move. In my neck of the woods, you can get a 3200 SF home here for about $350K and property taxes would be about 9K. If you bought a $600K house the property taxes would only be slightly less.

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  23. #24

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    Default Re: Tax Bill Passes in House and Senate...

    $600,000 home? $400,000 home? 32000 SF? Never imagined anyone paying that for such a mini macmansion. So solve the problem somehow or move. I just am hanging around poor people. The most houseful outside CA is about $250k. Me? About 150k. Obviously living in poverty. Good luck to all of you.

    PO

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