- 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: Neil Riser's Bill Eliminates Personal Income Tax in LA
Posted on 4/4/24 at 3:38 pm to FreeState
Posted on 4/4/24 at 3:38 pm to FreeState
I do not support this one bit. Rent will go up for renters because landlords will pass the higher cost down, mortgage notes will go up for homeowners, and people will spend less. Louisiana is not a state that can get away with something like this like Texas, Florida, and Tennessee can. We’re full of uneducated residents and this will backfire.
I hate this idea here in Louisiana.
Edited to clarify mortgage notes - not rates.
I hate this idea here in Louisiana.
Edited to clarify mortgage notes - not rates.
This post was edited on 4/4/24 at 11:19 pm
2
Posted on 4/4/24 at 4:00 pm to TDsngumbo
quote:
I hate this idea here in Louisiana.
I kind of agree. If you make $100k a year then you are in the 4.25% bracket, but your effective tax is ~2.83%.
So right now you pay ~$2830 in income tax a year. If they go to just property tax and set it around 2%then you are going to end up paying more.
And you already know they would have to exempt all the “poor” people from the property tax increase.
Posted on 4/4/24 at 10:30 pm to FreeState
Hell will freeze over before that happens.
Posted on 4/4/24 at 11:02 pm to BigBinBR
quote:
I kind of agree. If you make $100k a year then you are in the 4.25% bracket, but your effective tax is ~2.83%.
Ok. And now add in LA property taxes.
Your effective tax rate in Louisiana isn’t just your income tax.
Posted on 4/4/24 at 11:03 pm to TDsngumbo
quote:
mortgage rates will go up for homeowners,
What?
Posted on 4/5/24 at 2:46 am to Pedro
quote:
question for the floor: how high of a sales tax would you be willing to take if it meant no income and property taxes?
Wouldn’t matter. I’d just take my Washington parish arse to Columbia for groceries.
Posted on 4/5/24 at 7:08 am to FreeState
Brandon is lying again
quote:
resident Biden @POTUS House Republicans have proposed a new 23% national sales tax on American families, increasing the prices of everything from groceries and gas to food and medicine. American families need more breathing room. Not less.
Posted on 4/5/24 at 7:26 am to broadhead
quote:Found your license plate:
Property tax needs to go too. Only sales tax should be allowed.
Posted on 4/5/24 at 7:35 am to Pedro
quote:
question for the floor: how high of a sales tax would you be willing to take if it meant no income and property taxes?
Wouldn’t it be better to start with a better question- How much would sales tax need to go up to be revenue neutral with an abolishment of state income and property tax?
Then we can contemplate other usage fees or needless expenses that we can start to frick with to lower the sales tax rate.
Posted on 4/5/24 at 8:01 am to Willie Stroker
quote:
Wouldn’t it be better to start with a better question- How much would sales tax need to go up to be revenue neutral with an abolishment of state income and property tax? Then we can contemplate other usage fees or needless expenses that we can start to frick with to lower the sales tax rate.
I posted this earlier. State sales tax would have to roughly double to about 9 cents. That would be enough to offset the elimination of the income tax provided there is no drop in sales (which probably is unrealistic).
Posted on 4/5/24 at 8:03 am to JohnnyKilroy
quote:
Ok. And now add in LA property taxes.
The state doesn’t collect property taxes. They are all local.
Posted on 4/5/24 at 8:18 am to Pedro
quote:
question for the floor: how high of a sales tax would you be willing to take if it meant no income and property taxes?
Get too high and people will travel out of state for many large purchases
Posted on 4/5/24 at 8:25 am to doubleb
Louisiana revenue breakdown using Fiscal Year 2022 numbers.
Individual income tax 4.55B or 29.2%
Corp. franchise or income 1.40B or 9%
Premium Ins. Taxes and fees 1.20B or 7.7%
Gaming 1.00B or 6.4%
Mineral Revenues 709Million or 4.5%
Gas & Fuels 621 M or 4%
Sales tax 4.97B or 31.9%
Other revenues 1.13B or 2.3%
Total 15.6 Billion in taxes, licenses, and fees.
Individual income tax 4.55B or 29.2%
Corp. franchise or income 1.40B or 9%
Premium Ins. Taxes and fees 1.20B or 7.7%
Gaming 1.00B or 6.4%
Mineral Revenues 709Million or 4.5%
Gas & Fuels 621 M or 4%
Sales tax 4.97B or 31.9%
Other revenues 1.13B or 2.3%
Total 15.6 Billion in taxes, licenses, and fees.
Posted on 4/6/24 at 8:59 am to BigBinBR
This is what I am seeing. You have to make a lot of money in LA for it to even out or have less tax burden in TX. Property taxes in Houston suburbs in a 420K is approx 13K. You have to be making a chunk of $ in LA to pay that much in state income taxes.
This post was edited on 4/6/24 at 9:44 pm
Posted on 4/6/24 at 2:32 pm to GREENHEAD22
In La. property taxes help fund local government. Is it that way in Texas? What funds Texas state government?
Posted on 4/6/24 at 2:40 pm to turnpiketiger
quote:
This is how Texas gets away with it and yet people think it’s such a big difference not paying state income tax. The states gonna get their money one way or another
That’s just it: it doesn’t.
The biggest difference is that property taxes keeps most of the money local, as opposed to going into a big pot that gets wasted on pork, pet projects, and catering for committees before ever going back to the communities they came from. Most of the state budget comes from sales taxes.
Per capita, Texas’s state budget is smaller than LA, and has vastly superior services and resources.
Posted on 4/6/24 at 3:56 pm to turnpiketiger
quote:
This is how Texas gets away with it and yet people think it’s such a big difference not paying state income tax.
It is, for us we would pay double what we do now if there was an income tax in Texas.
Posted on 4/6/24 at 4:06 pm to Commandeaux
5xs your P&I
Posted on 4/6/24 at 4:07 pm to Pedro
10%
Posted on 4/6/24 at 4:22 pm to turnpiketiger
Tom Green County, Jefferson County.
2004 - 2014
2004 - 2014
Page 5 of 6
Back to top
Follow TigerDroppings for LSU Football News