from elseLJ...
Oct. 6th, 2008 12:10 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
jenkRegarding Washington state's lack of income tax, it does seem wonderfully subversive that money I put in savings or investments does not get taxed by the state.* It feeds my subversive soul that buying a cheaper house results in a lesser property tax, or that buying a cheaper TV/car/jacket (or not buying a new widget in the first place!) reduces the sales tax I pay.
But it means that state tax revenue swings wildly with the economy. And it's less progressive than an income tax.
*Where state=Washington state not "the state" or government in general. Money I put into my 401(k) gets taxed less by the feds *and* not at all by the state. Whee :)
But it means that state tax revenue swings wildly with the economy. And it's less progressive than an income tax.
*Where state=Washington state not "the state" or government in general. Money I put into my 401(k) gets taxed less by the feds *and* not at all by the state. Whee :)
