January 14, 2013

Mississippi Economic Policy Center: Thank Taxes- Tax Day 2011

ITEP Work in Action

Everyone who gets a paycheck pays payroll taxes. Everyone who buys anything at a local store or fills up their car with gas pays taxes. Individuals and businesses alike, benefit from the public structures paid for by taxes.

The figure below shows the estimated share of state and local taxes as a percentage of income for different income second, and middle 20% income groups pay the largest share of taxes as a percentage of income, while the top 20% pay the lowest.