Out-Of-State Buyers Flock to Miami | Hacker News Reader

Out-Of-State Buyers Flock to Miami

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8 pointskimsk1128 comments

Good. I don't understand why the federal government was subsidizing New York and California's insane tax rates.

California sends quite a bit more to the federal government than it receives from the federal government. In fact, in 2014 it was primarily Republican leaning states that received the greatest subsidies. The facts show that the federal government subsidizes not insanely high tax rates but rather tax rates that are too low.

https://www.theatlantic.com/business/archive/2014/05/which-s...

https://wallethub.com/edu/states-most-least-dependent-on-the...

This is referring to federal income tax. If anything, these states should have lower taxes because their taxable base is significantly higher hence the lower "ROI" from individual's federal income taxes.

Despite the evidence presented you continue to think that California, Minnesota, New York, etc. are not subsidizing states like Mississippi, Alabama, etc. Perhaps no amount of factual evidence will dissuade you from your current belief.

I didn't say that -- it's obvious when you consider that a large chunk of the federal budget is entitelement spending.

You're confusing two separate concepts. The relative ROI of federal income tax has no bearing on the federal government subsidizing state income/property taxes. Both can be true: the federal government can be subsidizing the state budget while simultaneously taking more than it gives from taxpayers.

Man, from where I stand, you'd have to be a hard-core climate-change denier to buy in Miami now. I guess if you plan on unloading in less than twenty years, but like a stock market options contract, seems like the value is going to go down as time to "expiration" draws to a close.

Once the problems in Miami get too big to ignore, residents will demand, and probably get, a huge engineering megaproject to fix the problem on the taxpayers’ dime, because the alternative is abandoning a major city, which has never been done in modern times apart from major nuclear accidents. So (unfortunately) it remains rational to invest in Miami real estate even if you accept that it’s going to be flooded in the next couple decades.

Are you saying it's going to be too unbearably hot in Miami?

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