New Mars Forums

SpaceNut

Administrator

From: New Hampshire

Registered: 2004-07-22

Posts: 28,838

America's Taxation - Taxes the burden of government

The amount of taxation is not only a state aspect of life but also one from the federal government.
Last year Trump penned a tax reduction into law to which this year you will have taken out less money to put towards the rate of taxation on your earnings for the calendar year.

Lots of tax cuts went into effect for the wealthy and for businesses to which the trickle down has not happened. Sure wages went up for the minimum in many states but not for all.

With the change in power comes a new line of thought for paying your fair share of the taxes on what is earned.

For the US only 75,000 U.S. households have a net worth above $50 million.
With 80% of the people earning less than $40,000 a year.

http://www.msn.com/en-us/news/politics/ … ar-BBT5Mid

Airman

Member

Registered: 2018-10-19

Posts: 2

Re: America's Taxation - Taxes the burden of government

Thank you information. There are some more articles https://tranio.com/articles/usa/taxes/ about taxes in USA. Hope it will be usuful for smb here.

SpaceNut

Administrator

From: New Hampshire

Registered: 2004-07-22

Posts: 28,838

Re: America's Taxation - Taxes the burden of government

Each state gets to tax the income for you employement and that includes those that live in another state but work in another...

A List of State Income Tax Rates

Of course these states also get to chose if you are paying a sin tax, room and board tax, a meals tax, a gas tax per gallon for fuels, and many more items including property taxes for the town or city but for the county as well.

There are states that tax on all sales
https://taxfoundation.org/state-and-loc … ates-2018/

ouch....

SpaceNut

Administrator

From: New Hampshire

Registered: 2004-07-22

Posts: 28,838

Re: America's Taxation - Taxes the burden of government

Taxpayers Decide Some States Aren't Worth It

A turning point was the federal tax overhaul that Congress passed in late 2017. The law made it costlier to own a house in many high-price, high-tax areas, reshaping the economics of homeownership in those slices of the U.S.

Two years after President Trump signed the tax law, its effects are rippling through local economies and housing markets, pushing some people to move from high-tax states where they have long lived. Parts of Florida, for example, are getting an influx of buyers from states such as New York, New Jersey and Illinois.

These changes have the biggest impact on a sliver of the population who have high incomes and live in expensive areas. They tend to have white-collar jobs and the ability to pick up and move. Many own their own businesses, work remotely or are nearing retirement.