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The vast majority of state and local tax systems are regressive, or upside-down, requiring a much greater share of income from low- and middle-income families than from wealthy families, study says (itep.org)

submitted 10 months ago by tardigrada@beehaw.org to c/usnews@beehaw.org

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On average, the lowest-income 20 percent of taxpayers face a state and local tax rate nearly 60 percent higher than the top 1 percent of households, according to a study by the Institue on Taxation and Economic Policy.

The nationwide average effective state and local tax rate paid by residents to their home states is 11.3 percent for the lowest-income 20 percent of individuals and families, 10.5 percent for the middle 20 percent, and 7.2 percent for the top 1 percent.

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[–] Arkham@beehaw.org 4 points 10 months ago* (last edited 10 months ago)

Every time I see news like this, I remember that Leona Helmsley quote:

We don't pay taxes; only the little people pay taxes.