Uncle Sam is Coming for your Wallet

The politicians in Washington DC are licking their chops over the cash in your savings, home, and income. Government proposals aimed at striking everyone from the middle class up including unrealized gains in Real Estate and the Stock Market are already proposed! Now more than ever, retirees need to look at favorable state and local taxes when deciding where to live. To heck with good weather, watch out for your wallet. Washington State has no state income tax, this becomes much more important as the feds begin tightening their grip with overbearing taxes that are on the horizon. Inflation is ramping up at a pace not seen since the 1970s and the only cure is getting the deficit under control. The federal government hasn't had the stomach for balanced budgets since the late 1990s when Democrats and Republicans worked together to pass a budget with a flat balance sheet. To curb inflation without cuts to spending means more taxes, and that is exactly what the Congress and the White House are pushing for. Everything is rising in cost but one thing the western third of the Evergreen State has is no income tax. We also have super low electric rates, and mild weather in both the summer and winter to help keep heating and cooling costs low. Gasoline is a little more expensive here than places like the deep south or the mid-west, but driving an electric car in Washington is just about cheaper than anywhere else on the planet. If you are thinking about retiring to another state, take a close look at Southwest Washington. If you are already in Washington, say for example, in the Puget Sound region, take a look at SW Washington before deciding to move out of state! Sunshine is overated.