Dude, thanks for making me laugh.
No property tax? LOL!!!! Thats how we fund schools in TX. We have some of the highest property taxes.
We also have a responsible state government that has billions in excess cash squirreled away for a rainy day!
Truth.
We do infact have high property taxes. Personally I prefer that route - you at least have a choice and can say "Hey - I want to live in a low worth home". Unlike income taxes in which no one is going to say "Nah, I don't want that raise because I'll have to pay state tax on it".
The other taxes we have in TX would be a sales tax capped at 8.25% (6.25% for the state, and 2% left for cities/counties/districts to take) along with motor fuel taxes.
edit: We also dont hand out multi-million dollar pensions to individual police and firefighters either that taxpayers have to fund. If you want that much money - save it yourself!
Yeah - our state doesn't, but the cities do tehehe.
no big loss, I'm sure....
So, TX already has no property tax, right, and so trying to make no income tax eternal? I wonder what the thought is for this--that their hilariously finite resource that is oil (which, in such economies, has only ever shown to have disastrous boom-bust cycles for that entire economy, regardless of your relation to the oil industry--Texas being no exception) will keep them forever solvent?
Good luck with that. Seems like they are trying to legislate pure retardation over their children's futures, which is pretty much SOP for every poor, federal welfare-dependent GOP state that sees itself running on its last legs. Shame, TX has the potential to be a decent place, you know?
Meh, I wouldn't cry. I don't go around waving flags like I'm somehow proud to be born somewhere. I will say that Texas seems to come from a past of doing things the right way from an economic perspective. I would be sad to see it turn to crap - but if thats what it is then thats what it is.
That's something that always makes me laugh my ass off by the way - especially when I see the likes of folks from South American countries proudly waving their flag. Your country was a shithole. Thats why you left it lol. But you're proud to be born somewhere? Okay bud, whatever makes you feel better I guess..
I mean, it's like someone who moves to Oklahoma but waves their Texas flag around everywhere. I've never seen such a thing.
Also, while parts of TX used to be heavily dependent on O&G (to the point of falling victim to boom/bust) that is simply no longer the case. Houston didn't even notice after the last oil bust 5 years ago or whatever it was.