California income taxes
03-30-2021, 06:06 PM
#812
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California income taxes
This is also wrong, you can build anywhere you want in California. Sure, zoning requirements from county to county in the US will have their differences and zoning codes will have their intricacies but it’s not making the prices what they are. You want to live in Bakersfield, Fresno, maybe out in Riverside, or some other unattractive area you can do so. You can also get affordable housing. Problem is no one wants to live there, hence the housing market doesn’t require a premium in those areas. Again it’s the market, not laws or regulations causing the real estate prices to be where they are. Homes are only worth what someone else will pay for them. That’s why they are priced where they are.
03-31-2021, 01:17 AM
#813
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And here in Arizona, property has gone up nearly 50% in the last five years in some areas. Homeowners are taking advantage of the sellers market here as Californians are paying cash with their 1031 transfers, and many of the purchasers are retirees. The problem is, supply is so low here that if you sell, where do you go?
Anyway, building codes DO make a difference in that some California municipalities charge ridiculous fees for permits, like water heater replacement, window remodeling, etc. In the Midwest I paid $400 for a new water heater and installed it myself. My dad paid $1800 because he needed a permit. His permits cost almost as much as his new windows.
Anyway, building codes DO make a difference in that some California municipalities charge ridiculous fees for permits, like water heater replacement, window remodeling, etc. In the Midwest I paid $400 for a new water heater and installed it myself. My dad paid $1800 because he needed a permit. His permits cost almost as much as his new windows.
03-31-2021, 04:38 AM
#814
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03-31-2021, 08:30 AM
#816
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Posts: 2,122
California income taxes
This seems to be correct evidenced by history. Luckily, the founders created a way for us to bypass congress when submitting amendments for ratification. Neither party is going to gut its own power when they are in power. It goes against human nature. Part of the separation of powers is federal versus states. And article five has that separation of powers. Calling for a convention of states for the purpose of proposing amendments limiting federal government power and fiscal restraints is the only way this will be solved.
Conventionofstates.com
Last edited by FXLAX; 03-31-2021 at 08:58 AM.
03-31-2021, 08:36 AM
#817
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Posts: 2,122
California income taxes
Moderate income families aren’t fleeing the taxes, they just can’t afford housing. The effective tax rate for someone making 60k a year (median U.S. income) is 3.85% without including any deductions, which isn’t much different than most states that have an income tax. It’s the $1,000,000 price tag on a one bedroom apartment that gets most people.
This. A lot of people who’ve never lived in Cali don’t get this. I live in Ohio now and we have outrageous property taxes, a 4.8% state income tax, and most bigger cities in Ohio have some form of an income tax (Columbus is 2.5%) on top of that.
California property taxes are technically lower than Ohio (this can get convoluted depending on mello roos and school districts) and there’s no city income tax per the state constitution. So yeah... it’s not the taxes, it’s the real estate prices that drive people out, especially if you’re looking to raise a family in a good family friendly neighborhood. Real estate prices are market driven and don’t have a lot to do with how the government is run.
Building codes and zoning have almost zero to do with the cost of buying or building a house in CA. They don’t make a 3000 sq ft house $1.5 million compared to $400k in a Midwest city, it’s the market...
Taxes aren’t ridiculous in California, they’re average if anything... it’s a tired repeated argument made by people who don’t know what they’re talking about. Sure Florida, Tennessee are better but California is average at worst.
https://wallethub.com/edu/best-worst...-taxpayer/2416
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Taxes aren’t ridiculous in California, they’re average if anything... it’s a tired repeated argument made by people who don’t know what they’re talking about. Sure Florida, Tennessee are better but California is average at worst.
https://wallethub.com/edu/best-worst...-taxpayer/2416
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It’s not just income taxes though. There are California payroll taxes, high sales tax rates (imagine almost 10% being added to the price of a car), high fuel taxes, and with high real estate prices, there is high property taxes that go with that, including Melo roos. All of those are regressive taxes that disproportionately impacts a family more and more the lower their household income. The “rich” can afford all those taxes on top of the income tax and high real estate prices and their accompanying real estate taxes. That’s why many Hollywood stars and athletes have or rent homes and live there in the most expensive areas to live.
It’s interesting that $60k was chosen because that is where you enter the 9.3% marginal income tax rate in California for single fillers, so admittedly not for joint filers, which is much lower. Every dollar above about $60k up to about $300k is taxed at 9.3% and added to the tax you paid in the first $60k to come up with your total tax burden. https://www.nerdwallet.com/article/t...rnia-state-tax
Last edited by FXLAX; 03-31-2021 at 09:09 AM.
03-31-2021, 08:55 AM
#818
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Posts: 2,122
California income taxes
This is a national phenomenon. Remember when California was the state of Nixon and Reagan and had 16 years of Republican governorship in Deukmajin and Wilson (83-99) or when Los Angeles had a Republican mayor (93-01)? Remember when Arizona was the state of Goldwater? Remember when New Mexico and Nevada were consistently red (before 92)? And now Texas is turning purple! This is because of migrants from south of the border. They flee their failing states and bring that ‘government cradle to grave’ mentality that caused their home country to degrade to the point they are fleeing it.
https://youtu.be/10uX2EhSflA
Last edited by FXLAX; 03-31-2021 at 09:13 AM.
03-31-2021, 10:04 AM
#819
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This is a national phenomenon. Remember when California was the state of Nixon and Reagan and had 16 years of Republican governorship in Deukmajin and Wilson (83-99) or when Los Angeles had a Republican mayor (93-01)? Remember when Arizona was the state of Goldwater? Remember when New Mexico and Nevada were consistently red (before 92)? And now Texas is turning purple! This is because of migrants from south of the border. They flee their failing states and bring that ‘government cradle to grave’ mentality that caused their home country to degrade to the point they are fleeing it.
https://youtu.be/10uX2EhSflA
https://youtu.be/10uX2EhSflA
03-31-2021, 10:12 AM
#820
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