Liberal Forum

Buffalo » 06 Jan 2023, 5:07 am » wrote: ↑

06 Jan 2023, 5:07 am

Texas is one of seven states that levies no individual income tax.

California’s top individual income tax rate is 13.3% with a state and local tax burden of 13.5%, according to the Tax Foundation. It also has an 8.84% corporate income tax rate, a 7.25% state sales tax rate, a max local sales tax rate of 2.5% and an average combined state and local sales tax rate of 8.82%.

By comparison, Texas levies no individual income tax or corporate income tax. It levies a gross receipts tax. It also has a 6.25% state sales tax rate, with a maximum local sales tax rate of 2%, and an average combined state and local sales tax rate of 8.2%.

California’s tax system ranks 48th on the Tax Foundation’s 2022 State Business Tax Climate Index, Texas ranks 14.

It’s not just the reports that point to the tax disparity of the two larges stats in the country.

Of the record number of people and companies moving out of California, they’ve repeatedly cited cost of living and high taxes as reasons for leaving. Those moving to Texas, now estimated to be roughly 1,000 a day, cite low cost of living and no personal income or corporate tax as their reasons for relocating. So many more people have moved to Texas over the past decade that it gained two additional Congressional seats.

You can drivel your **** all day long but when it comes to lower taxes and cost of living Texas kicks the **** out of California!!!