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xchrom

(108,903 posts)
Fri Feb 1, 2013, 08:19 AM Feb 2013

There's A Reason Bill Gates And Jeff Bezos Both Call Washington State Home

http://www.businessinsider.com/washington-best-state-for-the-wealthy-taxes-2013-1



Why does the wealthiest man in America live in Washington?

The answer is in a report released this week by the Institute on Taxation and Economic Policy.

Washington’s tax system is the most disjointed in the nation, leaving rich residents — including Bill Gates, the country's richest — with more money in their pockets, and the poor with even less to scrape by on.

The wealthiest 1 percent in the state of Washington — who bring in an average income of $1.1 million — pay only 2.8 percent of their income toward state taxes. By comparison, that state's poorest 20 percent — earning an average income of $11,500 — shell out nearly 17 percent of their income to the government, according to the report.

In fact, Washington is one of nine states in the country without a personal income tax. Instead, it relies heavily on sales taxes, which often hit lower- and middle-income families the hardest, and property taxes.


Read more: http://www.businessinsider.com/washington-best-state-for-the-wealthy-taxes-2013-1#ixzz2JeJhSuqc
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There's A Reason Bill Gates And Jeff Bezos Both Call Washington State Home (Original Post) xchrom Feb 2013 OP
Well, that's the smart thing to do. If I'm able to retire, I want to live where taxes are low for me Honeycombe8 Feb 2013 #1
he's a 4th generation washingtonian. he didn't move there to avoid taxes. HiPointDem Feb 2013 #5
Oh, well, there you go. Ba-da-bing. Some people see a boogey man under every bed. nt Honeycombe8 Feb 2013 #6
in bill's case, there is a boogeyman. just not the one the op thinks. since bill's a major force HiPointDem Feb 2013 #7
I thought Washington already had a state income tax. nt Honeycombe8 Feb 2013 #13
no. oregon does. HiPointDem Feb 2013 #14
Well, then I don't understand the OP, I guess. He's saying BG lives in Washington 'cause he pays les Honeycombe8 Feb 2013 #15
I'm pretty sure billg lives in wa because, like Microsoft and everything. Warren Stupidity Feb 2013 #2
He does..or did..live on the shore of Lake Washington, outskirts of Seattle dixiegrrrrl Feb 2013 #10
FFS Gates was BORN there CBGLuthier Feb 2013 #3
bill gates lives in wa because his great-grandparents, grandparents & parents did. and he's the HiPointDem Feb 2013 #4
Gates was fucking born there! Nice try at slamming gates for no reason! n-t Logical Feb 2013 #8
I don't know why he lives here but you are right liberal_at_heart Feb 2013 #9
If that were true, then why doesn't he live in a state WITHOUT state income tax. sadbear Feb 2013 #11
He doesn't earn income. Capital gains. AngryAmish Feb 2013 #12
Both people moved to the state before they became rich and loved living there. bluestate10 Feb 2013 #16
Washington state has the most regressive tax system. Not that this is Bill Gates' fault. octoberlib Feb 2013 #17

Honeycombe8

(37,648 posts)
1. Well, that's the smart thing to do. If I'm able to retire, I want to live where taxes are low for me
Fri Feb 1, 2013, 08:32 AM
Feb 2013

That's the smart thing to do. I certainly wouldn't want to move somewhere that would tax me more. That doesn't make sense. So unless I just really want to live in some location with high taxes, I wouldn't do it.

Washington state is beautiful, though. So that's probably another reason.

He didn't devise the state tax systems. Neither did I or you. We just move to where it's better for us than where we are now, if we can.

I want to move somewhere, or stay where I am, where the state does not have state income taxes at all, actually. But they get you coming and going...if they don't have a state income tax, then other taxes will be higher. They're still gonna get the money from you.

 

HiPointDem

(20,729 posts)
7. in bill's case, there is a boogeyman. just not the one the op thinks. since bill's a major force
Fri Feb 1, 2013, 09:02 AM
Feb 2013

behind the push for a state income tax.

he's not worried about his own taxes; he has ways of avoiding them.

Honeycombe8

(37,648 posts)
15. Well, then I don't understand the OP, I guess. He's saying BG lives in Washington 'cause he pays les
Sat Feb 2, 2013, 04:44 PM
Feb 2013

state income taxes.

dixiegrrrrl

(60,010 posts)
10. He does..or did..live on the shore of Lake Washington, outskirts of Seattle
Fri Feb 1, 2013, 11:10 AM
Feb 2013

in a huge house which was the subject of much press and magazine coverage back when he had it built.

CBGLuthier

(12,723 posts)
3. FFS Gates was BORN there
Fri Feb 1, 2013, 08:40 AM
Feb 2013

After being in Albuquerque for a few years he moved his company back to his hometown. But lets bash him for that.

 

HiPointDem

(20,729 posts)
4. bill gates lives in wa because his great-grandparents, grandparents & parents did. and he's the
Fri Feb 1, 2013, 08:42 AM
Feb 2013

one *pushing* a state income tax.

because, like all rich people, he can easily avoid it. he can avoid the sales tax too.

bezos, otoh, is actually an alien. a real alien.



liberal_at_heart

(12,081 posts)
9. I don't know why he lives here but you are right
Fri Feb 1, 2013, 10:22 AM
Feb 2013

It is nearly impossible to live in this state unless you have a tech job. I seriously don't know how fast food workers live in this state at all. There are a few low income citites but compared nationally even they are expensive. We do have a higher minimum wage than other states, but I don't see how it can possibly make up for the cost of living that people have to pay to live here. I know some people who have chosen to move to Idaho to get away from the cost of living here in WA state.

sadbear

(4,340 posts)
11. If that were true, then why doesn't he live in a state WITHOUT state income tax.
Fri Feb 1, 2013, 11:13 AM
Feb 2013

That's why the BFEE is in Texas and Florida.

bluestate10

(10,942 posts)
16. Both people moved to the state before they became rich and loved living there.
Sat Feb 2, 2013, 04:47 PM
Feb 2013

Not everyone think taxes in every waking minute.

octoberlib

(14,971 posts)
17. Washington state has the most regressive tax system. Not that this is Bill Gates' fault.
Sat Feb 2, 2013, 04:54 PM
Feb 2013

Ten states — Washington, Florida, South Dakota, Illinois, Texas, Tennessee, Arizona, Pennsylvania,
Indiana, and Alabama— are particularly regressive. These “Terrible Ten” states ask their poorest residents
— those in the bottom 20 percent of the income scale — to pay up to six times as much of their income in
taxes as they ask the wealthy to pay. Middle-income families in these states pay up to three times as high a
share of their income as the wealthiest families

• The main finding of this report is that virtually every state’s tax system is fundamentally unfair, taking a
much greater share of income from middle- and low-income families than from wealthy families. The
absence of a graduated personal income tax and the over reliance on consumption taxes
exacerbate this problem in many states.
http://www.itep.org/pdf/whopaysreport.pdf


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