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Giving insufficient tax breaks, that other people don't have access to, is "driving rich people out"? You know what I think is pretty dumb for states and citie
by deogeo 8y ago
Giving insufficient tax breaks, that other people don't have access to, is "driving rich people out"?
You know what I think is pretty dumb for states and cities? Letting the rich play them against each other in a race to the bottom.
But I do find it puzzling how such deals are even legal. Isn't the law supposed to be the same for everyone - including tax law?
- onetimemanytime 8y agoBut I do find it puzzling how such deals are even legal. Isn't the law supposed to be the same for everyone - including tax law? The same for everyone....do you mean everyone paying 0% taxes, or the max, close to 50% (state + federal) ? >>In New York, California, Connecticut, Maryland and New Jersey, the top 1 percent pay a third or more of total income taxes. Now a handful of billionaires or even a single individual like Mr. Tepper can have a noticeable impact on state revenues and budgets. https://www.nytimes.com/2016/05/01/business/one-top-taxpayer-moved-and-new-jersey-shuddered.html https://www.nytimes.com/2016/05/01/business/one-top-taxpayer...
- deogeo 8y ago> the top 1 percent pay a third or more of total income taxes. The richer they get and the poorer everyone else gets, the more this statistic makes it look like they're shouldering the entire tax burden.