Author Topic: NGC - This sucks! What $100 buys services in your state.  (Read 687 times)

Offline Tom

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NGC - This sucks! What $100 buys services in your state.
« on: August 15, 2019, 06:46:05 PM »
What does $100 buys in goods and services in your state.  I didn't check No Guzzi content because this affects Guzzi content cost of a bike, motorcycle license endorsement, travel, accessories, related apparel etc.  I guess, I'll feel better in Winter.  :grin: :grin:

https://taxfoundation.org/real-value-100-state-2019/

(Addendum). For the new guys.  I live in the deep deep South.  Hawaii Island.  Hawaii County, approx.  200 miles SE of Honolulu.  We're ranked last.  We lose in the purchasing power because almost everything has to be shipped in.
« Last Edit: August 16, 2019, 08:46:34 AM by rocker59 »
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Online Tusayan

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Re: This sucks!
« Reply #1 on: August 15, 2019, 06:58:05 PM »
I don't think it sucks, I think the variation between states is a good thing. Supply and demand drives prices up where people earn more money, and I think the average person knows inately that if they earn more money and live where prices are higher, they eventually accumulate more wealth.  So people don't leave expensive areas as long as they can pay the bills and it provides them more options in terms of where to live later on.

On the other hand, if you're already 'later on' with an income that doesn't vary no matter where you live, retired and/or living on investments etc, it's useful info.

Offline TN Mark

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Re: This sucks!
« Reply #2 on: August 15, 2019, 07:16:35 PM »
Oftentimes the most effective vote you have is with your money and your feet. If the cost of living outstrips the quality of living in your area: move. We did just that 5 years ago from IL to TN. I only wish I had made the move much earlier. Come on down, the weather and the riding are awesome. And yea, the quality of life and the cost of life are also awesome.

Offline Tom

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Re: This sucks!
« Reply #3 on: August 15, 2019, 07:47:04 PM »
You must have missed the " :grin:"  sarcasm.  I can't move any further south.  :grin:
There are no stupid questions.  There are however stupid people asking questions.

Offline TN Mark

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Re: This sucks!
« Reply #4 on: August 15, 2019, 08:03:15 PM »
No idea where you live and itís none of my business. What I posted is true for everyone in the USA.

Online Joliet Jim

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Re: This sucks!
« Reply #5 on: August 15, 2019, 08:09:00 PM »
You must have missed the " :grin:"  sarcasm.  I can't move any further south.  :grin:

There's always southpoint... sorry it didn't work out to get together. kids had me running everyday with plans they had.
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Offline bad Chad

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Re: This sucks!
« Reply #6 on: August 15, 2019, 08:21:16 PM »
Mark, Iím asking, did you move because of the benefits of living in TN, or did work take you south?
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Online Kev m

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Re: This sucks!
« Reply #7 on: August 16, 2019, 06:11:54 AM »
I can't move any further south.  :grin:

Not without getting wet...
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Online blackcat

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Re: This sucks!
« Reply #8 on: August 16, 2019, 06:34:38 AM »
Who retires to Mississippi?
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Offline EldoMike

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Re: This sucks!
« Reply #9 on: August 16, 2019, 07:05:11 AM »
I'm guessing the #33 rank of Illinois was BEFORE the latest rounds of tax increases... :angry:

Offline s1120

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Re: This sucks!
« Reply #10 on: August 16, 2019, 07:08:54 AM »
And lucky me I live in NY....  And that's going to change hopefully
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Offline TN Mark

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Re: This sucks!
« Reply #11 on: August 16, 2019, 07:12:47 AM »
Mark, Iím asking, did you move because of the benefits of living in TN, or did work take you south?

We moved ourselves to TN and I changed jobs within weeks of doing so.

Offline bad Chad

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Re: This sucks!
« Reply #12 on: August 16, 2019, 07:52:27 AM »
Nice!
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Online Joliet Jim

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Re: This sucks!
« Reply #13 on: August 16, 2019, 08:35:12 AM »
We moved ourselves to TN and I changed jobs within weeks of doing so.

That's on the short list, but grandkids are keeping us anchored for awhile
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Offline Two Checks

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Re: This sucks!
« Reply #14 on: August 16, 2019, 11:04:04 AM »


Quote from: blackcat on Today at 06:34:38 AM
Who retires to Mississippi?

I was going to but my son moved his family to Alabama.


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Offline Mayor_of_BBQ

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Re: This sucks!
« Reply #15 on: August 16, 2019, 11:40:44 AM »
Who retires to Mississippi?

Amen, what a terrible place...  Half the state looks like Beirut in wartime.  Oh well, I guess the taxes are low   :rolleyes:
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Offline Tom

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Re: This sucks!
« Reply #16 on: August 16, 2019, 11:57:34 AM »
There's always southpoint... sorry it didn't work out to get together. kids had me running everyday with plans they had.

No sweat on that.  Hope everything worked out.  No chance on South point..  😀
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Offline TN Mark

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Re: This sucks!
« Reply #17 on: August 16, 2019, 12:17:18 PM »
That's on the short list, but grandkids are keeping us anchored for awhile

Ours who are still in IL are in the process of following us to TN so thatís fantastic.

Offline jetboy

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Re: NGC - This sucks! What $100 buys services in your state.
« Reply #18 on: August 16, 2019, 12:36:00 PM »
I am confused how they are finding the "average" purchasing power of $100.  Like Oregon is 100.1 but its ranked 35.     There are far more states with larger numbers above 100 than below 100.  ...
stuck in in excel and even doing a mean average gets me ~104$

I guess that does not change the relative differences but its still confusing to see the states right at 100$ ranked 35 and 36
« Last Edit: August 16, 2019, 12:41:57 PM by jetboy »

Online Shorty

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Re: This sucks!
« Reply #19 on: August 16, 2019, 01:02:20 PM »
Who retires to Mississippi?

Parts of Mississippi are nice hilly, wooded areas. And like most areas, once you get clear of the cities, people are nice. :wink:
It's just too dang hot down there.          https://www.topretirements.com/state/mississippi.html   

Economy and Home Prices
Mississippi's median household income at $39,464 is the lowest of any state. By comparison, the U.S. median household income is $53,482 . Median home prices are much less expensive than in rest of the U.S. According to Zillow in 2016 the statewide Home Value Index was $114,400 vs. $189,000 for all of the U.S.  The median home in Jackson, the state capital, sold for $176,500 in late 2016 (NAR).  Mississippi is the lowest cost places to live in the U.S. - ranked #1 by MERIC.

Mississippi Taxes

Tax Burden: The state is considered one of the most tax friendly in the country. The Mississippi tax burden is just under 9%, the 41st highest in the country. At 7.6% the total tax burden in Jackson is a very low compared to the median rate for large U.S. cities.

Marginal Income Tax Rates. Mississippi has one of the lowest income tax rates that ranges from 3.0% to 5.0%, although the highest rate kicks in at a low income of $10,000. Social Security benefits are not taxed.

Retirement Income Exemptions. Mississippi has an active tax plan to attract retirees to the state. There is no state income tax on qualified retirement income, including Social Security. The same goes for distributions from 401ks, 403ks, and IRAs. Military income is exempt.

Sales Tax:  State sales tax is  a relatively high 7%.

Property Taxes: There is a bonus exemption of on the first $75,000 true value on property taxes for people 65 and over. This is one of the most generous senior exemptions in the country.

Homestead Exemption. There is a homestead exemption.

Estate and/or Inheritance Taxes. There is no inheritance tax. An estate tax is imposed if the estate exceeds the exemption of $1,000,000.
« Last Edit: August 16, 2019, 01:19:36 PM by Shorty »


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Offline Tom

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Re: NGC - This sucks! What $100 buys services in your state.
« Reply #20 on: August 16, 2019, 02:01:45 PM »
I am confused how they are finding the "average" purchasing power of $100.  Like Oregon is 100.1 but its ranked 35.     There are far more states with larger numbers above 100 than below 100.  ...
stuck in in excel and even doing a mean average gets me ~104$

I guess that does not change the relative differences but its still confusing to see the states right at 100$ ranked 35 and 36

My guess, it's based on the states tax rate on income.  Throw in cost of a gallon of gas and other taxable items. 
There are no stupid questions.  There are however stupid people asking questions.

Online LowRyter

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Re: NGC - This sucks! What $100 buys services in your state.
« Reply #21 on: August 16, 2019, 05:43:46 PM »
Okla is doing really good.  We're 8th for bang for bucks.
 
OTOH, we're 5th worst place in the nation to have baby.  Kids, are they worth the money?  Nah.
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