Old 02-18-2019, 10:05 AM
  #3  
Excargodog
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Originally Posted by BoilerUP View Post

To recap the cycle:

1. Cost of living is high, so incomes go up
2. Incomes put taxpayers into higher federal tax bracket
3. Local/state politicians see high incomes and raise taxes to pay for increased services and new policies
4. Taxpayer deducts these taxes from federal tax burden, masking state/local tax burden
5. Federal income tax reform caps this deduction
6. Taxpayers in states with high local/state taxes freak out as true cost of those taxes finally presents itself
7. Companies and residents with means to leave high tax states increasingly do, further negatively impacting tax base (see NYS and Illinois)
8. Media stories about these events begin and politicians in these areas grandstand

Absolutely, and airline pilots, with the ability to live in a great number of low tax states and commute to work, should be the last to b|tch about high tax states losing the federal subsidy to their high wage earners.
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