Quote:
Originally Posted by Bunk
Jeez, they must have a lot of Spendshis running the show there. 
You're right, the lack of a real social safety net is a massive problem. The lower taxation federally and in most states is offset by costs of healthcare, good quality education, local taxes and other things. One of the most shocking things is the lack of a paid family leave. That's just nuts.
I like to think of Canada as a blander, yet much more functional America. |
Property tax is a reflection how the tax structure is different. Illinois has the highest effective combined state and local tax rates in the US, at about 14.5%, with a state tax of only 3.75%.
The National average is 10.7% combined.
*Based on median US household income
But if I understand correctly, some portion of local (property) taxes are a deductible expense from income tax???