New research found that poorest fifth pay a tax rate 60% higher, on average, than the top 1% of households
A total of 44 of the 50 US states worsen inequality by making the wealthy pay a lesser share of their income in taxes than lower income people, a new analysis has found.
State and local tax regimes are “upside-down”, the new research finds, with weak or non-existent personal income taxes in many states allowing richer Americans to avoid tax. A reliance on sales and excise taxes, considered regressive because they disproportionately impact the poor, has helped fuel this inequality, according to the report.
Continue reading…New research found that poorest fifth pay a tax rate 60% higher, on average, than the top 1% of householdsA total of 44 of the 50 US states worsen inequality by making the wealthy pay a lesser share of their income in taxes than lower income people, a new analysis has found.State and local tax regimes are “upside-down”, the new research finds, with weak or non-existent personal income taxes in many states allowing richer Americans to avoid tax. A reliance on sales and excise taxes, considered regressive because they disproportionately impact the poor, has helped fuel this inequality, according to the report. Continue reading…