- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Baws, as of 1/1/25 your Netflix subscription will be subject to sales tax
Posted on 12/12/24 at 1:37 pm to Mingo Was His NameO
Posted on 12/12/24 at 1:37 pm to Mingo Was His NameO
quote:
Residents of Louisiana are the tax base because there are no commercial taxpayers. All they’re doing is shifting the tax burden from one tax to another. Rich people (making 250k+) are going to save money, people making 100k-150k are going to be the same, and lower income people are going to have less money at the end of every year.
That’s not good for anybody, but it’ll be popular among idiots like you for the first couple of years because you don’t understand it
Seems like you may be the idiot who doesn't understand the new taxing system.
quote:
New Louisiana flat tax rate
At the heart of this Louisiana tax reform is a flat 3% income tax rate, which replaces a tiered system with often complicated calculations.
This change could be welcome news for many residents.
For example, according to an analysis by RESET Louisiana, if you are a Louisiana resident earning between $30,000 and $40,000 a year, you could save around $330 on your state taxes.
If your income falls between $70,000 and $80,000, expect savings of about $550.
And for those making over $140,000? You might find an extra $1,000 in your pocket when it's time to file your state return.
And there’s more. The state standard deduction has nearly tripled for individuals and doubled for older adults, meaning some households with low income may not have to pay state income tax.
Before the bill, Louisiana's standard deduction was $4,500 for single filers and $9,000 for joint filers.
Next year, those amounts jump to $12,500 for single filers and those married filing separately.
For those married filing jointly, heads of households, and surviving spouses, the standard deduction rises to $25,000 in 2025.
Also, under the new tax reform bill, the retirement income exemption doubles from $6,000 to $12,000 and will be adjusted annually for inflation beginning in 2026.
As a result, more older adults in the state may be able to keep more of their retirement earnings tax-free.
However, remember that tax cuts like these come with a cost. This tax package offsets some of the cuts with increased state sales tax.
1
Posted on 12/12/24 at 1:39 pm to BugAC
quote:
I'll pay the extra $1.60/month in exchange for $800 less in income taxes.
Just Netflix is raising your sales tax about $16. You’re also paying an extra half cent on everything you’ve already been buying. Next is your lawn guy and maid will have to charge you tax. Book it.
If your state income tax liability was $800 last year, if you have $15k in consumable spending you pretty much break even. If it’s higher than that, you’re worse off.
Posted on 12/12/24 at 1:40 pm to Mingo Was His NameO
quote:
I thought about this some more, legitimately one of the dumbest posts I’ve ever read on this site
Someone tells you the facts of the flat tax and the increased standard deductions. You don't like they made you look stupid so you call them dumb.
Meanwhile, you create this thread using Netflix as the lynchpin for your uproar?
moron
Posted on 12/12/24 at 1:42 pm to BugAC
quote:
Seems like you may be the idiot who doesn't understand the new taxing system.
I understand it completely. Your article says it itself, the income tax cut is replaced by an increase in the sales tax rate. Now they’ve already expanded what is subject to the higher sales tax. So if they told you it was totally revenue neutral when they raised the rate and we are to believe that, then they’re already collecting MORE revenue (aka more taxes in aggregate) by taxing digital goods
Posted on 12/12/24 at 1:42 pm to Mingo Was His NameO
quote:
In the name of reducing the income tax, which most of you pay very little of.
Only a moron actually believes this.
Posted on 12/12/24 at 1:45 pm to The Boat
quote:
A consumption tax is far superior to an income
For those well off who have that option. For most people it’s just the opposite.
Posted on 12/12/24 at 1:46 pm to Mingo Was His NameO
quote:
Just Netflix is raising your sales tax about $16.
Netflix is $16.99/month. 10% of that is $1.70. Times 12 months, thats a whopping $20 a year.
Lowering of the state's income tax from 4.45% to 3% would be (1.45% reduction):
$50k in income = $725 savings
$100k in income = $1,450 savings
$150k = $2,175 savings
So my bad, i was actually lowballing the savings.
The only people that don't benefit are the ones that already don't pay income taxes. I guess you have to start paying your fair share. Sorry your poor.
Posted on 12/12/24 at 1:47 pm to imjustafatkid
quote:
Only a moron actually believes this.
Louisianians pay roughly about $800 in state income tax per year. If you spend $1k a month of consumable goods, the increase in the sales tax rate will cost you $600 a year. They’ve already expanded the sales tax base to digital goods within a couple of weeks of the rate increase. More base expansion is coming which will cost you 10%+ on every dollar you spend on items that weren’t taxable before.
You aren’t saving any money
Posted on 12/12/24 at 1:47 pm to BugAC
I thought we had to vote on these changes in March?
Posted on 12/12/24 at 1:49 pm to BugAC
quote:
$50k in income = $725 savings $100k in income = $1,450 savings $150k = $2,175 savings
Every dollar of consumable spending you have to decrease this savings by a half percent because the sales tax rate increased. The State itself already admits it was revenue neutral (ie tax collections aren’t decreasing). And that was before they expand the tax base of what is taxable. Brother they’re telling you your taxes are going up and you don’t believe them
This post was edited on 12/12/24 at 1:52 pm
Posted on 12/12/24 at 1:55 pm to Mingo Was His NameO
Louisiana has the worst politicians from the local level to top of the state.
It’s a shame, it really is. All trash.
It’s a shame, it really is. All trash.
Posted on 12/12/24 at 1:55 pm to Mingo Was His NameO
quote:
You aren’t saving any money
You don't know that at all. No one will be forced to pay more and you aren't STEALING money from others via government goons.
This post was edited on 12/12/24 at 1:56 pm
Posted on 12/12/24 at 1:58 pm to imjustafatkid
quote:
No one will be forced to pay more
If you buy the same exact goods next year as you bought this year, you will, in fact, pay more. And inflation continues to rise, you’ll pay even more in real dollars.
This post was edited on 12/12/24 at 1:59 pm
Posted on 12/12/24 at 2:04 pm to JohnnyKilroy
We pay personal property tax every year in MO, that shite ain't fun.
Posted on 12/12/24 at 2:11 pm to Mingo Was His NameO
quote:
You aren’t saving any money
While this is probably true, people have the option to not consume. No one needs Netflix.
If people want to pay less consumption tax then it’s pretty easy to do - consume less.
Posted on 12/12/24 at 2:11 pm to Mingo Was His NameO
quote:
If you buy the same exact goods next year as you bought this year, you will, in fact, pay more. And inflation continues to rise, you’ll pay even more in real dollars.
The sales tax increases on basic cost of living will be maybe $100-200 a year. Probably less if we are talking real basics that are subject to the increase.
If you spend on luxury stuff, eating out, etc then thats your problem
This post was edited on 12/12/24 at 2:12 pm
Posted on 12/12/24 at 2:14 pm to Cosmo
quote:
The sales tax increases on basic cost of living will be maybe $100-200 a year. Probably less if we are talking real basics that are subject to the increase.
Every expert and even the state itself disagrees with you, but they’re all wrong based on their research because that’s what you “think”
quote:
If you spend on luxury stuff, eating out, etc then thats your problem
So your solution is to decrease economic activity. Great idea
This post was edited on 12/12/24 at 2:17 pm
Posted on 12/12/24 at 2:17 pm to imjustafatkid
quote:
you aren't STEALING money from others via government goons.
How is the government taking taxes from sales any different than from income. If one is stealing so is the other.
Posted on 12/12/24 at 2:19 pm to Mingo Was His NameO
quote:
So your solution is to decrease economic activity. Great idea
Yes
Our consumer based economy isnt sustainable. We need to shift now or it will only become more painful in future
Posted on 12/12/24 at 2:20 pm to Mingo Was His NameO
quote:
Jeff Landry
BUT HE GOT A FLORIDA CAT NAMED OMAR BRADLEY BACK ON THE SIDELINES AT TIGER STADIUM
Page 2 of 7
Popular
Back to top
Follow TigerDroppings for LSU Football News