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View Diary: WV-Sen: Republican Raes--"I made my money the old-fashioned way, I inherited it." (139 comments)

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  •  Florida has no personal income tax (5+ / 0-)

    Florida – no personal income tax, but has a corporate income tax (at a 5% rate). The state once had a tax on "intangible personal property" held on the first day of the year (stocks, bonds, mutual funds, money market funds, etc.), but it was abolished at the start of 2007.

    ..because you know taxes are just evil.

    Here we are now Entertain us I feel stupid and contagious

    by Scarce on Fri Sep 24, 2010 at 01:02:40 PM PDT

    •  No personal income tax? That's the reason. (3+ / 0-)
      Recommended by:
      wishingwell, Silverbird, Bush Bites

      When I lived in TN, which also doesn't have one, I read a letter in a Memphis paper that said, "The only reason I moved to this backward hillbilly state is that they don't have an income tax."

      Sarah Palin ... speaks truth. It remains to be seen if this nation has enough sanity left to put her in office. -- A RW blogger.

      by Kimball Cross on Fri Sep 24, 2010 at 01:07:06 PM PDT

      [ Parent ]

    •  Yes and... (1+ / 0-)
      Recommended by:
      Silverbird

      Florida is right behind California in the race to the the next Greece of America... The state would have gone bankrupt if not for federal help.

      However, the property taxes there are hefty, even with the exemption...

    •  That's how Florida attracts so many of the rich. (2+ / 0-)
      Recommended by:
      wishingwell, Silverbird

      They do, however, check to make sure you really live in Florida by counting how many days you spend there.

      •  That must be it (0+ / 0-)

        I finally got to go to Florida for the first time late last month.  I was in Miami Beach and I really didn't like it.  I mean, it was better than Las Vegas (a city I also visited for the first time this year) and the food was pretty good.  But I don't like Florida.  And I can't imagine what all these people see in it.  But then, not having personal income tax probably helps.  

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