This week....all the taxation gimmicks were laid out for the state legislature in Richmond. Having read the list....if all pass....if you were already in the poverty-class, you might be safe. If you were making $60,000 to $130,000....you probably need to find $1,200 minimum in your budget...to cover new state taxation. To be honest....it might come closer to $2,000 more that you require.
As a fed-retiree who might have a fed-pension deal....drawing $50,000 on top of your social security? Well...you probably won't have the cash flow to absorb the loss of $1,200.
So...I'm of the mind that this was geared to 'chase' or encourage 100,000 Virginia folks to exit (rather shortly....like before late-summer).
Do Democrats grasp this? I'm not sure. I'm not even sure that they knew themselves that 40-odd new taxes would be invented.
If the 100k do exit....will the remaining folks cover enough of the tax revenue lost that things continue on into 2027? This might be an interesting question to ponder.
West Virginia getting the bulk of the exit folks? I'm of the mind that VA-retirees will mostly settle in Florida, with the folks still working in DC/Arlington....probably ending up mostly in West Virginia. Oddly, some may find a cheaper lifestyle...moving across the river....into DC itself.
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