Forbes: State With World’s Richest Man Has Most Regressive Taxes (But Don’t Blame Bill Gates)
media mention“A new analysis of state and local taxes for 2015 shows that despite changes in Kansas and other states that have reduced taxes on the rich, Washington State continues to have the most “regressive” tax system in the country—meaning its taxes hit poor families the hardest, compared to rich ones. Overall, the bottom 20% of Washington state’s nonelderly households, who earn less than $21,000 a year, will pay 16.8% of their income in state and local taxes this year, compared to the 2.4% of income the top 1% earning more than $507,000, will pay, according to the report from the left leaning Institute On Taxation & Economic Policy.”