I am that person. For some reason you are missing the point. I work in DC. I would prefer to live in DC but choose to live in VA because the taxes are so much lower. If Virginia takes away the lower taxes, I will just move to DC. I am imagining that there are others in the same position based on anecdotal conversations with co-workers about WHY they chose to live in DC v. Maryland v. Virginia. |
So....you would move out of VA to save taxes? |
You are dense. I moved TO Virginia to save taxes. If Virginia has the same tax cost as DC, moving from VA to DC would not “save” any tax. I would be moving closer to my job. There are a bunch of people that work in DC but live in VA for the better tax result. That is the draw. |
The point is that the difference in taxes if this passes would be negligible for many wealthy people -- and ZERO for people making <$1M. As I said, we wouldn't move over a $64k increase. And it'd still be $80k less than we'd have to pay in DC, plus we'd have to pay moving costs. |
| No. It has reopened. |
| And, why would a governor have any say on it? |
| Virginia is going to get record tax increases under spanberger. |
How much of a difference is it? Like, give us a number because whenever I’ve done the calculations, they’re pretty much the same. Yeah, property taxes are lower, but car taxes transportation grocery taxes are all higher. I can’t imagine moving for taxes unless you don’t have kids. |
I did the rough math for $2.5M income. It’d be a $64k increase for VA, but it’d still be $80k less than DC. Most people in that income bracket aren’t moving for that. There is no increase for HHI < $1M. |
This is a far cry from the billionaires that were mentioned in the original article, |
The article discusses millionaires and billionaires. "Cristobal Young and Charles Varner’s work using New Jersey and California tax data finds near-zero long-run migration elasticities among millionaires. Even after sizable tax increases, the number who leave is small, and the revenue gained from those who stay exceeds the revenue lost from movers. |
The original wealth tax was meant to target the billionaires but, of course, there's not enough money in the billionaire class. No millionaires don't have the same mobility as billionaires. As with any of these tax ideas, when the legislation is finished, the billionaire class has protected itself. |
“ "I'm leaving Virginia because of Spanberger's policies" lol oh no who will remain to scream at the workers at Chipotle and drive down everyone else's property values with their ratty ass "let's go brandon" flags they refuse to take down” @amandasmildtakes |
You would do better to listen than to assume anyone with concerns is a MAGA. I voted for Spanberger because she has generally been a moderate. But now I see that she is going to be pretty far to the left along with the state legislature. So tired of going from one extreme to the other. Why does each party do this every time they get power? They think the have a mandate and go too far the other way, alienating independents. Then we flip back to the other side being in charge and that side does the same thing. |
This is the problem. 5 minutes of research and anyone would see she is a progressive pretending to be a moderate. But agree that the constantly swinging pendulum alienates those that want America to follow a more centrist course. |