Quote:
Originally Posted by ScreamShatter
^ As we saw with the 10 year tax abatements, people with higher incomes started moving into the city after it passed. The same is true for states like TX, NC, etc that as they cut taxes people started to move there.
Not saying it would plug the entire hole from a 75% tax reduction. More people would def move in. And the city would need to cut services to make up the difference. Sounds scary, but if businesses are moving in and people are making more money then it can be a net positive.
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People aren't moving in if the schools are still in disarray.
Cutting and simplifying business taxes is way more important than cutting the wage tax.
Comparatively, Philadelphia has lower property taxes than most suburbs. I think people understand you pay somewhere...whether it be via property taxes or wage taxes. I think people also expect to pay a bit more in taxes in a highly urban jurisdiction. There's just so much more a city has to fund than your typical suburban town.
And can we stop talking about TX as a low tax haven? Sure, it doesn't have an income tax. It has among the highest property taxes in the country. Like NJ level high. Again. You pay for it somewhere.
TX just happens to have really good and misleading marketing around the cost of living there.
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