The Daily Item: Tax the Rich More
media mention
The Institute on Taxation and Economic Policy ranks Pennsylvania at No. 6 in the Institute’s “Terrible 10” states that taxes low income earners up to seven times as much of their income in taxes as the top 1 percent are taxed on their income.
Washington, Florida and Texas top the list of the “Terrible 10” states, and Delaware, Montana and California top the list of the fairest states in taxation. The District of Columbia is the only system that actually taxes the poorest 20 percent less than the top 1 percent.
So what can Pennsylvania do to be fairer in taxing its residents? First, replace the state’s 3.07 percent flat personal income tax rate with a graduated income tax system. Second, eliminate the 6 percent sales tax that really hurts the poor the hardest.
Will these changes ever happen? They won’t unless enough taxpayers and voters put pressure on the state representatives and state senators.
Remember, if the rich get their way, the poor and middle class will continue to pay.
To be fairer, we need to tax the rich more and the poor and middle class less.