Support local journalism!
Help preserve local news coverage in print and online.
Become a member now!

Login | Register
Sign up for eBulletins
Click for Pleasanton, California Forecast

TownSquare Forum
(Postings listed from most recent to oldest)
View in an RSS Reader
Choose category to Display:
  ALL CATEGORIES   AROUND TOWN   BOOKS & MOVIES   COMMENTS ON STORIES
  CRIMES & INCIDENTS   RESTAURANTS   SCHOOLS & KIDS   SPORTS
  STATE, NATIONAL, INTERNATIONAL   EDITOR'S BLOG   LOL (LESSONS ON LAUGHTER)   PUBLISHER'S BLOG
  REPORTER'S BLOG   TIM HUNT

POST A NEW TOPIC GO TO MAIN VIEW RETURN TO HOME PAGE  
Bookmark and Share
Why the Wealthy in the US are Overtaxed
State, National, International, posted by Marie Pinucci, a resident of the Another Pleasanton neighborhood neighborhood, on Feb 2, 2013 at 11:45 am

According to the Institute on Taxation and Economic Policy's new study on who pays how much in state and local taxes:

Combining all of the state and local income, property, sales and excise taxes state residents pay, the average overall effective tax rates by income group nationwide are 11.1 percent for the bottom 20 percent, 9.4 percent for the middle 20 percent and 5.6 percent for the top 1 percent.

In Washington, the most regressive state, the poorest 20 percent of the population pays 16.9 percent of its income in state and local taxes while the richest 1 percent pays a burdensome 2.8 percent. By contrast, in Vermont, the most "progressive" state, the poorest 20 percent pays 8.7 percent while the richest 1 percent pays 8 percent.

In California, the bottom 20 percent only pay 10.6% in taxes, while the oppressed top 1 percent pay a whopping 8.8%.

Texas, in contrast, has a much fairer tax system. There, the bottom 20 percent pays 12.6% in taxes, while the top 1 percent pays an exorbitant 3.2%

"Fair is fair," states Texas Republican Governor Rick Perry, "and if the bottom 20 percent pay almost 4 times more than our job creating heroes, that's just a reflection upon their own stupidity." He then further quipped: "Maybe the poor should hire a team of competent tax lawyers."

Add a comment | Add a new topic
If you were a member and logged in you could track this topic

Comments

Posted by Cholo, a resident of Livermore, on Feb 2, 2013 at 2:00 pm

I have a cute greeny crystal ball and I'll consult with it soon. I'm sure my crystal ball has an explanation for what seems to be another inequity in this cruel world.


Add a Comment

Posting an item on Town Square is simple and requires no registration! Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff
 
We prefer that you use your real name, but you may use any "member" name you wish.

Name: *
Select your Neighborhood or School Community: *
Comment: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box. *
Verification Code:   
 

PleasantonWeekly.com ©2013 Embarcadero Media.
All rights reserved.