Pilot killing taxes?
#31
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Joined APC: Mar 2006
Position: guppy CA
Posts: 5,133
NV has no income tax and low property taxes.
What are you getting for 115K? My swimming pool cost me ~$80K.
I have a hard time imagining how much house could even be built for $115K.
What are you getting for 115K? My swimming pool cost me ~$80K.
I have a hard time imagining how much house could even be built for $115K.
#32
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Joined APC: Mar 2014
Posts: 3,089
You have to be careful about that article and stats on that kind of stuff. It's all statistics and if you've ever taken a class in stats, the teacher likely stated on day one that figures don't lie but liars can figure.
Depending on how you slice and dice federal spending, the various studies will either count or not count things like military bases, national parks, social security payments, and other items where there's federal spending but isn't the same as providing food stamps, welfare, Medicaid, etc.
Basically, tell me what you want to prove and I'll make the numbers 'work out' by counting/not counting items that aren't necessarily pertinent to the discussion.
Should we count the $3.5 Billion federal grant to California for their [s]SFO-LA[/] Merced-BakersfieldHSR MSR Low Speed Rail? Should we count payments made to states to build/maintain roads and airports?
Side note: I will be curious to see what it costs CA taxpayers annually to subsidize the operation of the rail to nowhere - I will not be surprised to see the entire project mothballed within a few years of completion.
If you just count everything, it distorts the numbers. If you totally cherry pick what you include, it distorts the numbers.
Depending on how you slice and dice federal spending, the various studies will either count or not count things like military bases, national parks, social security payments, and other items where there's federal spending but isn't the same as providing food stamps, welfare, Medicaid, etc.
Basically, tell me what you want to prove and I'll make the numbers 'work out' by counting/not counting items that aren't necessarily pertinent to the discussion.
Should we count the $3.5 Billion federal grant to California for their [s]SFO-LA[/] Merced-Bakersfield
Side note: I will be curious to see what it costs CA taxpayers annually to subsidize the operation of the rail to nowhere - I will not be surprised to see the entire project mothballed within a few years of completion.
If you just count everything, it distorts the numbers. If you totally cherry pick what you include, it distorts the numbers.
Here is another one with similar numbers:
https://www.money-rates.com/federal-...-by-state.html
#33
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Joined APC: Mar 2014
Posts: 3,089
He probably bought a long time ago. Or just lives very frugally. A CA I fly with lives in a small home outside Atlanta he paid around $100k for in a small town. Not all pilots have $80k pools or a Mercedes in the driveway, even though we could afford it. I buy stock instead of cars and pools with my money .
#34
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Joined APC: Mar 2006
Position: guppy CA
Posts: 5,133
He probably bought a long time ago. Or just lives very frugally. A CA I fly with lives in a small home outside Atlanta he paid around $100k for in a small town. Not all pilots have $80k pools or a Mercedes in the driveway, even though we could afford it. I buy stock instead of cars and pools with my money .
As it is, our kids will each get more than enough to blow after we're dead. … and the average number of generations for large inheritances is two before it's all spent.
So we're now spending some of our money. We still max out our 401ks and IRAs, but we're not saving extra anymore.
#35
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Joined APC: Feb 2007
Posts: 1,281
I'm single and live in California.
Effective tax rate was 15.75% Federal and 6.0% State.
My refund was noticeably lower this year and the reduced deductions definitely hurt since I still itemized and had more than the standard deduction.
Effective tax rate was 15.75% Federal and 6.0% State.
My refund was noticeably lower this year and the reduced deductions definitely hurt since I still itemized and had more than the standard deduction.
#36
I have lived frugally almost all of my life; same with my wife. A couple of years ago, the numbers indicated that our money would not only outlive us, but it would also continue to accumulate.
As it is, our kids will each get more than enough to blow after we're dead. … and the average number of generations for large inheritances is two before it's all spent.
So we're now spending some of our money. We still max out our 401ks and IRAs, but we're not saving extra anymore.
As it is, our kids will each get more than enough to blow after we're dead. … and the average number of generations for large inheritances is two before it's all spent.
So we're now spending some of our money. We still max out our 401ks and IRAs, but we're not saving extra anymore.
#37
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Joined APC: Nov 2014
Position: B787 FO
Posts: 294
Why don’t you look at what your tax liability was instead of looking at your refund
#38
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Joined APC: May 2014
Position: Tom’s Whipping boy.
Posts: 1,182
I’ve never seen a study, but I would think the taxes far outstrip income in those states.
Many people in NY and NJ and Cali would pay 5x as much in property taxes for a house like mine.....
The problem is certain states have just become incredibly bureaucratic and inefficient. Those states don’t provide any goods or services to justify anywhere near that cost
Many people in NY and NJ and Cali would pay 5x as much in property taxes for a house like mine.....
The problem is certain states have just become incredibly bureaucratic and inefficient. Those states don’t provide any goods or services to justify anywhere near that cost
#39
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Joined APC: May 2014
Posts: 1,681
Ok so you've never actually looked it up but just repeat the rhetoric.
For starters:
https://apnews.com/2f83c72de1bd440d92cdbc0d3b6bc08c
Just because you earn a lot in a low tax state doesn't mean most in your state do. In fact, it's quite the opposite.
Due to the the progressive nature of income taxes the income earned and taxes paid aren't linear. In a lot of "low tax" states the MFJ deduction with kids credit takes care of the vast majority of their tax burden!
Part of the reason those states have higher taxes is because of the cost of living. Here in NC, we start our cops off around $35k a year rising to $60k. Try to find someone on Long Island to put their life on the line for $35k!!!
For starters:
https://apnews.com/2f83c72de1bd440d92cdbc0d3b6bc08c
Just because you earn a lot in a low tax state doesn't mean most in your state do. In fact, it's quite the opposite.
Due to the the progressive nature of income taxes the income earned and taxes paid aren't linear. In a lot of "low tax" states the MFJ deduction with kids credit takes care of the vast majority of their tax burden!
Part of the reason those states have higher taxes is because of the cost of living. Here in NC, we start our cops off around $35k a year rising to $60k. Try to find someone on Long Island to put their life on the line for $35k!!!
So much BS.
Just look at the last sentence-small example of an error. (There are many.....) It points out how much more states get back from DC than what was sent.....
And blames that number for our deficit.
I’m trying to not be insulting, but there is one hell of a lot more going on with the deficit than just federal spending on state stuff.
What passes for journalism these days is disgusting.
#40
Taxes withheld for the year as a percentage of my income went from 11.89% in 2017 to 10.20% in 2018. So a slight gain in my favor.
However...
My tax liability after deductions went from 2.2% in 2017 to 6.6% in 2018. So a huge decrease for me.
I do the foreign residence exclusion. This year none of my housing costs were deductible. None of the business expenses were deductible. None of my housing interest was deductible. All in all I lost $11,234 in deductions when compared with 2017.
I like it that the standard deduction went up, but it would have been nice if they would have still allowed the options of having those other deductions.
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