Dallas Business Journal: Texas Great for Businesses But Terrible for Most People
media mentionWhile many Lone Star State business organizations tout Texas’ tax climate when pitching corporate relocations, those same tax policies are among the worst in the nation when boiled down to the family level, according to a new report from the Institute on Taxation and Economic Policy.
Texas has the third-most regressive tax structure in the country, according to the report. A regressive tax structure is one that taxes lower-income individuals’ earnings more heavily than higher-income individuals’ earnings. In terms of regressiveness, Texas is beaten only by Washington State and Florida.