Home / General / Another Benefit of Our Laboratories of Democracy

Another Benefit of Our Laboratories of Democracy

/
/
/
865 Views

Regressive tax codes:

Second, it ignores the effect of state and local taxes, which fall disproportionately on the working and middle classes. The difference is shown by the latest annual report on “Who Pays Taxes in America,” released last week by Citizens for Tax Justice. (Hat tip to Josh Harkinson of Mother Jones.)

“Contrary to popular belief,” CTJ finds, “when all taxes are considered, the rich do not pay a disproportionately high share of taxes.”

CTJ shows that combined local, state and federal taxes produce a system that more resembles a flat tax than a progressive tax: In 2015, the top 1% will pay 32.6% of their income in taxes, while those in the 60th-80th percentile (with average income of $81,000) pay 30.4% and the next highest 10% (average income of $125,000) pay 32.1%. Overall, the bottom 99% pay 29.8% of their income in taxes, a ratio not much smaller than the top 1%.

And it’s not just red states:

Washington, despite its progressive, blue-state reputation, has the most regressive tax system in the country. There the poorest fifth of residents pay seven times as much of their income in state and local taxes as the top 1%.

One of the surest tests of irredeemable hackery is when someone conflates “federal income taxes” with “taxes.” (Cf. Niall Ferguson.)

  • Facebook
  • Twitter
  • Linkedin
This div height required for enabling the sticky sidebar
Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views : Ad Clicks : Ad Views :