It's not rocket science: your tax structure has to keep the people operating under it nationally and globally competitive, which means it has to be reinvested intelligently and can't turn organic winners into artificial losers
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California is corrupt af. When in a few years they have similar tax burdens to European countries yet without any of the social benefits people will take notice.
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Yeah, politicians always seem to think they can change the rules of the game without affecting how people play the game. But that never works. They created an income tax? Now employers offer untaxable benefits and we're stuck with employer-funded healthcare. Consequences.
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It won't be long until it's a failed state. Maybe defunding the police will help.
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It helps if people feel they're getting actual value for the taxes they're paying. It seems like it is starting to look to a lot of people like Cali is just burning their tax dollars for the fun of it however.
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Actually, that's the ONLY thing they know how to do
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California all in doesn't charge as much taxes as people think. It's just overly complicated so the sticker price is high but it's a below average state in taxes totalpic.twitter.com/twVJJeRC4G
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What income level is this based on?
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Ditto NYC. Me, in many places: "You don't get it, I don't have to own a car, that's $8-10K freed up right there, if they eat that in taxes, I'm breakeven".
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Everyone talks about the Laffer Curve, but it's all about the total number of problems solved. If you take a bunch of taxes and then solve all my problems, every dollar I have left is pure discretionary. And pre-COVID NYC solved a bunch of my problems.
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