CNN Money: States where taxes hit the poor hardest
media mention“Residents who make the least amount of money pay about 17% of their income in state and local taxes, according to a new report from the Institute on Taxation and Economic Policy. Meanwhile, Washington’s highest earners cough up just 2.4% of their income for such taxes.
The high tax rate on the poor, coupled with that huge gap in the tax burden between the poor and the top 1%, is why Washington ranks as the most regressive-tax state in the nation, according to the liberal think tank’s study.”