"Study Reveals Widening Wealth Disparities in US State Tax Systems"
A new analysis by the Institute on Taxation and Economic Policy reveals that 44 out of 50 US states exacerbate inequality by allowing the wealthy to pay a lower share of their income in taxes than lower income individuals. The reliance on regressive sales and excise taxes, along with weak or non-existent personal income taxes, has contributed to this disparity. Only six states and the District of Columbia have tax systems that reduce inequality, with the poorest fifth of people paying a tax rate 60% higher, on average, than the top 1% of households. Various state-level policies, such as tax cuts for the wealthy, have worsened this situation, but the report emphasizes that there are better choices available to lawmakers to address this issue.
- Forty-four of 50 US states worsen inequality with ‘upside-down’ taxes The Guardian US
- Florida's Tax System Most Unfair on Poor in US, Study Shows Newsweek
- Top 1 percent paying lower tax rates than other residents in most states: Study The Hill
- Minnesota's tax system is the most equitable among states, report finds Minnesota Reformer
- Report Finds State Taxes Fall Lightest on Wealthy Urban Milwaukee
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