Quote:
Originally Posted by bandycpa
Howard,
Texas has no income tax rate, but it does have a maximum sales tax rate of 8.25%. Could it be that they are helped out by the fact that more people pay taxes through sales tax than they would if they paid a state income tax?
Bandy
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And you find this problematic because... ?
Actually, Texas state government has other sources of revenue as well.
One of the things about California that particularly infuriates me is that they spend themselves into a position of being in default without taking money from the rest of us through Federal subsidies. And they do this while refusing to sell assets to willing buyers. And refusing to permit drilling and refining of petroleum products for which the would receive billions in fees and licenses let alone taxes from operations.
What's with that!?! 