Thursday, July 17, 2008

Houston, New York Has a Problem

Has nothing to do with Chicago, but I just wanted to share this anyway:
It looks even better once you take taxes into account. Federal taxes are roughly equal for the two families: about $7,000 per year. But under the Texas constitution, to enact a state income tax requires approval by statewide referendum — and two-thirds of the revenues generated by such a tax, if passed, must go toward reducing other taxes. As a result, Texas doesn't have any state income taxes. Nor, for that matter, does it have any city income taxes.
Read the whole thing! The article basically discusses how Houston, TX is a more welcoming city for the middle class than the City of New York. Via Newsalert!

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