Re:The carried interest loophole survives again
by memling on Tuesday August 23, 2022 @08:43AM
(#32564042)
> Some U.S. states have a sales tax. Some also have an annual tax on the current assessed value of personal property, like real estate, cars, boats, etc.
My current state has sales taxes (on non-essentials), property taxes that go to the state and the local school district (separate assessments), and an income tax to the state and my local district. The state counts income as earned income and passive income. Federal deductions reduce my tax burden there, but no such deductions obtain at the state or local level.
While it's popular to talk about the tax differential between the EU and US—and there is one—it's probably not quite as big as advertised (at least not in all states).
My current state has sales taxes (on non-essentials), property taxes that go to the state and the local school district (separate assessments), and an income tax to the state and my local district. The state counts income as earned income and passive income. Federal deductions reduce my tax burden there, but no such deductions obtain at the state or local level.
While it's popular to talk about the tax differential between the EU and US—and there is one—it's probably not quite as big as advertised (at least not in all states).