Working families in Pennsylvania pay a far higher share of their income in state and local taxes than their wealthiest counterparts, according to a new study by the Institute on Taxation & Economic Policy.Other highlights (or low lights) from the study:
* Pennsylvania families earning less than $19,000 - the poorest fifth of Pennsylvania taxpayers - pay 11.3% of their income in Pennsylvania state and local taxes.The review the entire report, "Who Pays? A Distributional Analysis of the Tax Systems in All 50 States," follow the link below:
* Middle-income Pennsylvania taxpayers - those earning between $35,000 and $56,000 - pay 9.6% of their income in Pennsylvania state and local taxes.
* The richest Pennsylvania taxpayers - with average incomes of $1,369,600 - pay only 5% of their income in Pennsylvania state and local taxes.
* After accounting for federal deduction offsets, the discrepancy is even starker: the poorest fifth pay 11.2% of their income in state and local taxes, middle-income families pay 9.1%, and the richest Pennsylvanians pay 3.9%.
* Washington, Florida, South Dakota, Tennessee, Texas, Illinois, Arizona, Nevada, Pennsylvania, and Alabama were named as the 10 Most Regressive Tax States. Pennsylvania ranked ninth.
New Report Ranks Pennsylvania Among 'Terrible 10' Most Regressive Tax States
Originally posted at TONY PHYRILLAS
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