SuzukiSavage.com - Job opportunity

WebsterMark Serious Thumper Offline SuzukiSavage.com Rocks! Posts: 14663 Gender:	Job opportunity Today at 03:50:48 Become a specialist in selling expensive homes in Washington State. Lot of customers coming your way soon. Washington State OKs 9.9 Percent Tax on Millionaires
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Eegore Serious Thumper Offline SuzukiSavage.com Rocks! Posts: 10172	Re: Job opportunity Reply #1 - Today at 05:51:16 It will be interesting to see how this turns out. I think WA State's income earners being about .5% means not many have to leave in order for the law to result in losses. What I am most surprised by is how many people think someone making 1 million and One dollars will pay 99k in taxes on 9.9 marginal tax rate.
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MnSpring Serious Thumper Offline Younger than most people my age. Posts: 10754 Minn Gender:	Re: Job opportunity Reply #2 - Today at 06:21:02 From MSM "... Starbucks founder Howard Schultz announced that he and his family are moving from Seattle to Florida the same day the tax was passed by lawmakers. ..."
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zevenenergie Serious Thumper Online SuzukiSavage.com Rocks! Posts: 2219 The Netherlands Den Haag	Re: Job opportunity Reply #3 - Today at 08:04:00 That must be on principle, then, because it is not that difficult to create a zero income for tax purposes when you are rich. But perhaps moving is cheaper than a good tax advisor.
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Eegore

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Re: Job opportunity
Reply #4 - Today at 08:43:42

That must be on principle, then, because it is not that difficult to create a zero income for tax purposes when you are rich.

The majority of the extremely wealthy have unrealized gains and not actual taxable income. If the million+ is taxable income and not unrealized gains then it is cheaper to move than it is to pay lawyers to scam the IRS, since there is no legal way to avoid the taxes.

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thumperclone Serious Thumper Alliance Member Offline PGR rider riding with respect Posts: 7369 Grand Junction Colorado Gender:	Re: Job opportunity Reply #5 - Today at 08:51:28 Florida has no state income tax
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zevenenergie

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Re: Job opportunity
Reply #6 - Today at 09:02:14

Eegore wrote on Today at 08:43:42:

That must be on principle, then, because it is not that difficult to create a zero income for tax purposes when you are rich.

The majority of the extremely wealthy have unrealized gains and not actual taxable income. If the million+ is taxable income and not unrealized gains then it is cheaper to move than it is to pay lawyers to scam the IRS, since there is no legal way to avoid the taxes.

Ah ok, here the Tax Authorities assume a certain return if you have made investments; you pay tax on that, even if you haven't sold anything.

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WebsterMark Serious Thumper Offline SuzukiSavage.com Rocks! Posts: 14663 Gender:	Re: Job opportunity Reply #7 - Today at 10:30:16 The research in the run up to the bill, stated this would only affect 0.5% of Washington’s taxpayers. However, the reverse is true. Because it affects a few, it doesn’t take many leaving, to dramatically underfund all the spending they’re proposing to do with other people’s money.
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