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Taxation: A Tale of Rival States

iWe
@iWe
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Florida is probably going to end residential property tax (on the first 250k of value, growing to 500k of value), thus making the state an even more attractive place to live. DeSantis is cleverly proposing that new out-of-state purchasers will have to pay five years of property tax before they "graduate" into the tax-free category. I suspect that this will accelerate migration into Florida, as new buyers will want to get the clock started earlier rather than later. In short: invest now and reap benefits later.

Israel, a country run and populated by the world's most brilliant fools, has taken exactly the opposite approach. The first ten years of Israeli tax residency come with zero tax on foreign-source income (though every dime must be reported). AND if you move in before the end of 2026, you are tax exempt for the first $250k of Israeli income, as well as for two years (tapering off to zero).

But after that, Israel will tax you in full. And unlike many other countries, the Israelis are incredibly good at collecting whatever they think is due. Immigrants do not get away with the kinds of nonsense that immigrants to the United States do: quite the contrary.

So: move to Israel, and get seized - in the long run. Move to Florida, pay the entrance fee, and it is smooth sailing from there.

This is not a hypothetical tradeoff. I know a lot of people who choose between Florida and Israel. It is a common dilemma. Florida now has more Jews than the entire New York/NJ area! And I am quite sure that this trend will accelerate with DeSantis' initiative.

We could quite reasonably ask why Florida and Israel have diametrically opposite approaches to taxation and the purposes and benefits of migration.

I think it comes down to the basic presupposition of society. Florida puts the individual first, and the collective second. The Israeli government ultimately is playing the long game, seeking to maximize the power of the state. Individuals are the marks in this taxation shell game. Israel was crafted in the 40s and 50s by European socialists, after all.

But I am open to other suggestions.

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Discussion (3)

  • Front Seat Cat@FrontSeatCat
    Property taxes are terrible here so I'll believe it when I see it. Also, since Covid, property values in general went through the roofs, along with rent, and has not only become unaffordable or barely for so many, the high property taxes now match the new amounts! I'm so cynical that i imagine it ($$) is all ending up in the same pockets, along with the high food costs, fuel and everything else - those pockets are those that have always collected the cream..........
  • Stad@Stad
    iWe (View Post):

    DeSantis is cleverly proposing that new out-of-state purchasers will have to pay 5 years of property tax before they “graduate” into the tax-free category.

    Not a bad idea. I wish states could require newcomers to live in the state for 5 years before they can vote in state elections . . .

  • Old Bathos@OldBathos

    Israel has deep commie roots. And strong intellectual traditions seem to coincide with greater susceptibility to Marxist delusions.

    Despite fantastic conservative role models (Milton Friedman, Richard Epstein,,,) I think there is a deeply ingrained Jewish notion that conservatism is inherently "blood and soil" nationalism of the kind that animates pogroms. The ideology of Edmund Burke et al must somehow be part of that same culture despite rather strong evidence to the contrary. It is still very heavy lifting to move many Jews out of the Democrats' openly antisemitic moral sewer. And the Israeli left is pretty hopeless. even lemming-like.