10 Least Tax-Friendly States for Retirees By The Kiplinger Washington Editors | Kiplinger – Wed, Sep 12, 2012 11:38 AM EDT
10 NEW YORK
State Income Tax: 4% to 8.82% State Sales Tax: 4% Estate Tax/Inheritance Tax: Yes/No
Although New York offers generous tax exemptions for retirees, the Empire State is home to some of the highest property taxes in the nation. On average, New Yorkers fork over 12% of their income in state and local taxes, according to the Tax Foundation. But retired residents catch several breaks. New York does not tax Social Security benefits or public pensions. There is also an exemption of up to $20,000 per person for private pensions and out-of-state government pensions. The state's top income tax rate of 8.82% is reserved for millionaires. Homeowners 65 and older may qualify for reduced property taxes, subject to income restrictions established by their local government. Although the statewide sales tax is a modest 4%, local taxes can boost the total to 9%, but food and prescription and nonprescription drugs are exempt.
not according to Box. His information is that despite the seniors leaving by the boatload, this high-tax, broken-infrastructure state is the BEST place to be when you are old.
"While Foreign Terrorists were plotting to murder and maim using homemade bombs in Boston, Democrap officials in Washington DC, Albany and here were busy watching ME and other law abiding American Citizens who are gun owners and taxpayers, in an effort to blame the nation's lack of security on US so that they could have a political scapegoat."
not according to Box. His information is that despite the seniors leaving by the boatload, this high-tax, broken-infrastructure state is the BEST place to be when you are old.
Is that what I posted Graham? I posted that NYS is the BEST place to retire???
It appears that the truth is an optional commodity with Graham.
NY DOES have it's advantages. ~ New York offers generous tax exemptions for retirees. ~ The state does not tax Social Security benefits or public pensions. ~ There is also an exemption of up to $20,000 for private pensions. ~ NY state's Star Program offers a reduced School Tax on most homeowners and a greater benefit for seniors.
If Income tax is still a problem for seniors, they could move to NO TAX states like Texas or Florida... but then you'd have to LIVE in Texas and Florida Uggg! No Thanks!
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Is that what I posted Graham? I posted that NYS is the BEST place to retire???
It appears that the truth is an optional commodity with Graham.
NY DOES have it's advantages. ~ New York offers generous tax exemptions for retirees. ~ The state does not tax Social Security benefits or public pensions. ~ There is also an exemption of up to $20,000 for private pensions. ~ NY state's Star Program offers a reduced School Tax on most homeowners and a greater benefit for seniors.
If Income tax is still a problem for seniors, they could move to NO TAX states like Texas or Florida... but then you'd have to LIVE in Texas and Florida Uggg! No Thanks!
Dailyfinance.com lists NY was the 8th Worst state to retire. Most of the top ten are from the good old northeast and others are Blue states Minnesota, Wisconsin, and Illinois.
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
but NYS has the most national healthcare friendly structure and the most services for any retiree that wants to 'donate' all his/her $$ to the government and become 'comfortable' on the state dole....
you worked all those years saving NEVER ENOUGH to survive in NYS....BUT....you can stay if you 'make yourself poor'....we have the services/we have the social workers/we have the system to lower your standards but you get to stay and we will organize everything for you so you can live out your life 'comfortably numb'.....
we have used you and have given you your value based upon Moodys valuations of NYS retirees and their usefulness....
BTW...retirement doesn't mean the age that the government tells you that you are no longer useful or the age that the government decides you want to retire......
everyone is always looking for the value of when they can retire based on SS age and benefit usage....it's like using F'EN coupons....everyone bases their retirement on SS......it's not meant as a nice fluffy bed.....
don't let the system stamp your value on your head....then you become a podium puck
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Eleven states have been demoted to a financial “death spiral” status. The worst — California, Illinois and New York, blue states all — have less than 50 percent of their populations working to support the rest of state residents, and huge debt as well. Note: Debt is taxes yet to be paid. Government overall has overpromised and cannot possibly deliver. Some promises are more easily broken. Social Security, Medicare, Medicaid and welfare are among them. All are subject to federal and state law changes. Others, like pension contracts with public employees, are hard to break, as California cities declaring bankruptcy are finding out. It would appear taxpayers are on the hook. That’s real estate, sales, income taxes and fees as well. California is presently considering a new “wealth tax.” At the federal level, raising taxes on the rich is proposed as a solution. Britain tried it and revenue dropped. Over half the wealthy have left the country. California tried it and the wealthy are moving to other states. It is an equally viable solution for New York residents as well.
not according to Box. His information is that despite the seniors leaving by the boatload, this high-tax, broken-infrastructure state is the BEST place to be when you are old.
Is that what I posted GB???
Nine in 10 retirees intend to stay put and eight in 10 say they’ll feel that way even when they require assisted living, AARP has found.
Topping the list of major metropolitan areas is Provo, Utah, which among other things has the fewest fast-food outlets per capita and the fastest growth of small businesses to go along with things like great hospitals and the most volunteer opportunities.
Topping the 100 largest cities: 1) Provo, Utah 2) Madison, Wis. 3) Omaha, Neb. 4) Boston, Mass. 5) New York City 6) Des Moines, Iowa 7) Salt Lake City 8) Toldeo, Ohio 9) Washington, D.C. 10) Pittsburgh, Pa.
Topping the 259 smaller metro areas: 1) Sioux Falls, S.D. 2) Iowa City, Iowa 3) Bismarck, N.D. 4) Columbia, Mo. 5) Rochester, Minn. 6) Gainesville, Fla. 7) Ann Arbor, Mich. 8) Missoula, Mont. 9) Durham, N.C. 10) Rapid City, S.D.
The Milken report is not the first to recognize the changing retirement landscape. In its latest best places report, Money writes of younger seniors:
“This group doesn't necessarily want the obvious locales, like Florida or Arizona. ‘Retirees today are looking at it with a sense of adventure as opposed to a sense of inevitability,’ says retirement consultant Maria Dwight. They may not weigh the pros and cons in terms of days of sunshine or number of golf courses, but rather the number of hiking and biking trails, the opportunity for educational enrichment, and the caliber of the art and restaurant scene. Since so many are still working or would like the option to, a strong job market is a plus too.”
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
However, many seniors who leave NYS also return because the health care here is better "free". That should have been added to the story.
Fixed
"Approval ratings go up and down for various reasons... An example is the high post 911 support for GWB even though he could be said to be responsible for the event." --- Box A Rox '9/11 Truther'
Melania is a bimbo... she is there to look at, not to listen to. --- Box A Rox and his 'War on Women'
The best states for health care: The Commonwealth Fund rated states based on 32 indicators, including access, quality, cost, insurance, preventive care, potentially avoidable hospital visits, and premature death.
The top five states in order are Hawaii, Iowa, New Hampshire, Vermont, and Maine.
The bottom five states are Nevada, Arkansas, Texas, Mississippi, and Oklahoma.
Here is the list of how the states and Washington, D.C., ranked overall. States with the same ranking are listed together.
Hawaii Iowa New Hampshire, Vermont Maine Rhode Island Connecticut Massachusetts Wisconsin South Dakota Minnesota Nebraska North Dakota Delaware Pennsylvania Michigan Montana, Washington Maryland Kansas Wyoming Colorado, New York Ohio, Utah Alaska, Arizona, New Jersey Virginia Idaho, North Carolina Washington, D.C. South Carolina Oregon New Mexico Illinois Missouri Indiana California Tennessee Alabama Georgia Florida West Virginia Kentucky Louisiana, Nevada Arkansas Texas Mississippi, Oklahoma
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Once Obamacare kicks in we will all have equally bad health-care.
Yea, Obamacare really sucks... Like the $1.5 BILLION DOLLARS it saved Americans in 2011!
Quoted Text
Consumers saved nearly $1.5 billion in 2011 as a result of rules in President Obama's healthcare law that limit what insurance companies can spend on expenses unrelated to medical care, including profit, a new analysis shows. Much of those savings — an estimated $1.1 billion — came in rebates to consumers required because insurers had exceeded the required limits.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
New CBO Report Shows Increasing Cost of ObamaCare’s Broken Promises
The Congressional Budget Office’s long-term budget outlook released yesterday offers the latest evidence of the Democrats’ broken promise that ObamaCare would reduce healthcare costs. Another new report also shows that Obama’s HHS is betting taxpayer money on high-risk healthcare projects (Solyndra, anyone?) with little chance of recouping the funds. Sadly this is just the latest evidence that ObamaCare is a big-spending disaster, but Democrats have shown that they will defend ObamaCare no matter what the cost. The Congressional Budget Office’s long-term budget outlook released yesterday offers the latest evidence of the Democrats’ broken promise that ObamaCare would reduce healthcare costs:
CBO: HEALTHCARE COSTS ARE RISING AND RISING FASTER: “Specifically, if current laws remained in place, spending on the major federal health care programs alone would grow from more than 5 percent of GDP today to almost 10 percent in 2037 and would continue to increase thereafter.” (“The 2012 Long-Term Budget Outlook,” Congressional Budget Office, 6/5/2012)
PER-CAPITA HEALTHCARE SPENDING GROWING 1.6% FASTER THAN GDPPress Release, “Rising Costs Could Double Federal Health Care Spending and Push Debt to 200 Percent of GDP by 2037,” House Energy and Commerce Committee, 6/5/2012)
PROMISE BROKEN: VICE PRESIDENT JOE BIDEN: GOAL OF OBAMACARE IS “BENDING THE COST CURVE”: “But, look, I think, if I can lay out, Mr. President, what I think we all agree on, and then figure out whether as a way to deal with the deficit end of this – bending the cost curve, to use a phrase you and many others have used, Mr. President.” (“Remarks by The President In Discussion of the Deficit at Bipartisan Meeting on Health Care Reform,” The White House, 2/25/2010)
DRIVEN IN LARGE PART BY RISING HEALTHCARE COSTS, THE DEBT IS SET TO DOUBLE THE SIZE OF THE ECONOMY: (Erik Wasson, “CBO Warns of Grim Long-Term Debt Outlook,” The Hill, 6/5/2012)
“CBO WARNS OF GRIM LONG-TERM DEBT OUTLOOK”: (Erik Wasson, “CBO Warns of Grim Long-Term Debt Outlook,” The Hill, 6/5/2012)
RISING DEBT LEVELS COULD SPARK EUROPEAN-STYLE FISCAL CRISIS:“Many economists have warned that if debt held by the public approaches 100 percent of GDP it can bring on the kind of fiscal crisis being felt in European countries today, in which governments must suddenly slash spending and layoff workers in the face of rising interest rates caused by spooked investors.” (Erik Wasson, “CBO Warns of Grim Long-Term Debt Outlook,” The Hill, 6/5/2012)
DEBT SO LARGE, CBO CAN’T ESTIMATE ITS ECONOMIC EFFECTS: “When the government budget scorekeepers took into account the worst-case scenario impact of debt on the U.S. economy, its economic forecasting model, well, broke: ‘Under the assumptions leading to the most negative effect on GNP, debt would reach 250 percent of GDP by 2035. CBO’s model cannot reliably estimate GNP after debt reaches that amount, in the agency’s judgment…’”(James Pethokoukis, “CBO: Massive Rise in U.S. Debt Crashes Our Economic Forecasting Model in 2035,” The American, 6/5/2012)
Another new report also shows that Obama’s HHS is betting taxpayer money on high-risk healthcare projects (Solyndra, anyone?) with little chance of recouping the funds:
OBAMACARE HAS HHS PLAYING “VENTURE CAPITAL INVESTOR”: “Perhaps you thought that the Affordable Care Act is all about making insurance more affordable. Too bad no one told Americans that the law also turned the Health and Human Services Department into a giant venture capital investor for health care. This won’t turn out well. Awash in ObamaCare dollars, HHS has a growing investment portfolio that includes everything from new insurance companies to health-care start-ups to information technology.”(Editorial, “Fannie Med,” The Wall Street Journal, 6/4/2012)
BUT AS HHS IS DOLING OUT OBAMACARE CASH, THE INSPECTOR GENERAL CAN BARELY MONITOR THE AGENCY AS IS: “The HHS inspector general revealed this year that his team can barely monitor HHS because its staff is too busy chasing the criminals exploiting HHS’s incompetence. Experts disagree about how much is stolen from taxpayers through entitlement fraud—the Government Accountability Office puts it at $48 billion annually—but one sign of the problem is that Medicare allows doctors (or “doctors”) to register for billing privileges as ‘other.’” (Editorial, “Fannie Med,” The Wall Street Journal, 6/4/2012)
OBAMACARE IS FUNDING HIGH-RISK HEALTHCARE “CO-OPS”: “One particular ObamaCare boondoggle that needs fly-specking is the HHS decision to finance nonprofit insurance companies with up to $7.25 billion in ultra-low-cost loans. These co-ops were a consolation prize for liberals after Democratic opposition killed the government-run public option, and the co-ops are supposed to be managed by and for consumers.” (Editorial, “Fannie Med,” The Wall Street Journal, 6/4/2012)
The NRCC... Your source is the National Republican Congressional Committee. Do ya think it might be just a little bit biased???
If I linked to the National Democrat Congressional Committee, would you accept their word as accurate???
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Logged
Uggg! No Thanks!
