Mocketh not, but I have been gathering my tax stuff together. My need-to-know about my finances, and where my economy is headed, has been prompted, in part, because it's an election year. It's time to ask, "what my country can do for me...". My other impetus is that Mass. is always taking its two-cents worth in some form of tax. Time to find the loophole.
One of the exceptions to the "...and the state taketh away" rules is that this year we have raised our minimum wage to a whopping 8.00 per hr. Now, don't start packing - cuz there's lots to consider if you're gonna live here. If you're still game, watch out when they frisk you at the borders.
First, let's go house shopping. Haha. I live in a small, rural town 25 miles to the left of Boston - west of historic Concord, with its Minutemen, and Walden Pond, and pots of 'old money' Oy ! (not) !! Mine is an ex-farming, currently high-tech, average income (ridiculously high), community. We are 10.4 sq. mi. - population about 5,000. The average house price is 545k. I can tell that some of you are unpacking already. (May I also add that my home is wa-a-y below town average.)
Taxes. Let's start with the town taxes. Each town has its own property tax which is set at Town Meeting - an annual event - along with all the other budgetary items. My town has one of the highest in the state at $14.14 per thousand at 100% evaluation (14.14 x 545 = a bunch). Another town tax is the annual Excise tax on any and all vehicles, including boats. It's $25. per thousand on a sliding scale of blue book value, for the first 5 yrs., then it's a flat $25 every year thereafter.
Now, onto, some of the highest in the country - State Taxes. One of the biggies, is the additional 5.3% income tax. Next comes the 5% sales tax on everything except food and clothing. So, buy your new car and pay your 5% sales tax, drive home and pay your (25. per thou.) excise tax. You'd better hope it's fuel efficient, cuz it's going to cost you an addt'l .22 per gal. There's an additional $1.51 per pack of cigs. and an extra $4.05 per gallon of booze, beer, or wine. We have the Bottle Bill which is going to cost you a nickel on every can and most 1 + 2 ltr bottles of beverages. Our tourists get to pay, in general, a 5.7% room tax (up to 9.7 by town vote), and we all pay a 5% meals tax in our restaurants and for take out. Speaking of restaurants, that $8.00 min. wage....it doesn't necessarily apply to waiters and waitresses. Anyone in the service (get tips) industry may be paid as little as 2.63 per hour.
We also have mandatory Health Insurance, compulsory car insurance, annual car inspections. We've legalized same-sex marriages (..but not divorces). We have the best consumer rights law, great conservation programs and mandatory allotment for low-income housing. There are great education incentives and some of the best colleges and universities. We have wonderful hospitals and research facilities. As icing on this chilly little cupcake...we also have, not only The World Series Red Sox, but also,- TA DAH - the 2008 Super Bowl Champions - The Patriots !!!! (Oh, didn't they play, yet??!!) hehehe
There are all sorts of ins and outs to playing the Tax Game, but, they don't call it Taxachusetts for nothing. Maybe someday I'll blog more about why I stay here. You've probably been able to figure out that it has more to do with my roots and my family, than with any fiscal responsibility. These are just some of the factors that I take with me into that voting booth. And when a new tax gets enacted, I grumble just as much about the citizens who don't vote, as I do about the politicians. Vote...please!
Well, it's back to the paperwork, for me. I think I'm gonna need some "people". Wish me luck and deductions. Ta.
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