Taxes

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Questions? Need an updated map? Email me andy@andyarthur.org.

The One Percent in New York

This graph shows how many taxpayers in New York fall into one of these categories: Less then 200k (red), 200k-500k (orange), 500k-$1 million (yellow), and one million plus (light yellow).

As you can see, only a small percentage of each county makes more then 200k, even in New York City where the cost of living is much higher. Columns are the percent of the total tax filings, and is per household for joint filiers.

As you can see in many counties in New York State, households that make more then $200k a year are the one percent, or only a few percent beyond that.

Data Source: RocDocs Wealthy Taxpayers in New York State, 2013. http://rochester.nydatabases.com/database/wealthy-taxpayers-new-york-state

AMT: Congress Takes Aim At Tax Rules That Hit Hardest At Upper Middle Class

"Scrapping the AMT would lower the potential tax hit for affluent families. But the AMT has survived for decades because it generates a lot of money for government coffers."

"Eliminating the AMT would cost the U.S. government some $700 billion in revenue over the next decade, about half the estimated price tag for the tax bill Congress is now considering."

"It would also potentially remove some of the constraints on the use of tax shelters by the wealthy, allowing taxpayers to take advantage of more loopholes and deductions, Gale notes."

Google Maps: Median Property Tax By County

A major cost of living in New York State is taxes. We have very high property taxes, but then again does much of New England. The median property tax bill in Albany County, NY is $4,200, while the median property tax bill in the mountain country of Webster County, WV is $268. In much of the south, especially away from the oceans and metropolitan areas, property taxes are much lower then in our area. You can understand why many people, especially seniors to choose to move to lower tax states.

Data Source: MORTGAGE STATUS BY AGGREGATE REAL ESTATE TAXES PAID (DOLLARS). Universe: Owner-occupied housing units, 2011-2015 American Community Survey 5-Year Estimates. https://factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?pid=ACS_15_5YR_B25090&prodType=table

Nancy Pelosi’s claims on middle-income taxpayers and state and local tax deductions

"This is a good example of how tax data can be manipulated. Pelosi is usually eager to point out that wealthy Americans will mostly benefit from broad-based tax cuts. In this case, wealthier Americans would mainly feel the effects of a broad-based elimination of a tax break"

"But in this case, Pelosi chooses to ignore the distributional tables and instead focus on the absolute number of people affected, even if the impact is mostly felt by the rich. She earns two Pinocchios."

Google Maps: Sales Tax Rates In New York

The average sales tax rate in New York State is 8.0%. Saratoga, Washington and Warren Counties have the state's lowest sales taxes at 7%. The highest sales tax upstate is Oneida County at 8.75%, the highest downstate is New York City at 8 7/8%, which includes the Metropolitan Transit Region surcharge of 3/8th of a percent.

Data Source: NYS Tax and Finance, Form 718, Sales Tax Rates by County and City. https://www.tax.ny.gov/pdf/publications/sales/pub718.pdf

Filing Taxes Could Be Free and Simple. But H&R Block and Intuit Are Still Lobbying Against It.

"Here’s how preparing your taxes could work: You sit down, review a prefilled filing from the government. If it’s accurate, you sign it. If it’s not, you fix it or ignore it altogether and prepare your return yourself. It’s your choice. You might not have to pay for an accountant, or fiddle for hours with complex software. It could all be over in minutes.

It’s already like that in parts of Europe. And it would not be particularly difficult to give U.S. taxpayers the same option. After all, the government already gets earnings information from employers.

But as ProPublica has detailed again and again, Intuit — the makers of TurboTax — and H&R Block have lobbied for years to derail any move toward such a system. And they continued in 2016."