Connect with us

National

The Poor Pay More in Taxes

Published

on

In this Thursday, Nov. 27, 2014, photo, a woman pays for merchandise at a Kohl's department store in Sherwood, Ark. Relying on credit for holiday shopping without a plan to pay off the debt quickly can easily cost you more in the long run. (AP Photo/Danny Johnston)

 (AP Photo/Danny Johnston)

 

(The Economic Populist) – Yes, the rich pay more in taxes (because they earn so much more) — but they don’t usually pay more as a percentage of their incomes.

According to a new report from the Institute on Taxation and Economic Policy, in nearly every state, low- and middle-income families pay a bigger share of their income in state and local taxes than wealthy families. Patricia Cohen wrote in her very detailed and comprehensive article at the New York Times: “When it comes to the taxes closest to home, the less you earn, the harder you’re hit.”

According to the study, in 2015 the poorest fifth of Americans will pay on average 10.9 percent of their income in state and local taxes, the middle fifth will pay 9.4 percent and the top 1 percent will average 5.4 percent.

In Bill Gates’ great State of Washington, the tax system is the most regressive — where the bottom 20 percent of taxpayers pay 16.8 percent of their income in taxes, while the top 1 percent pay just 2.4 percent.

READ MORE

Activism

Oakland Post: Week of May 1 – 7, 2024

The printed Weekly Edition of the Oakland Post: Week of May 1 – 7, 2024

Published

on

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Continue Reading

Activism

Oakland Post: Week of April 24 – 30, 2024

The printed Weekly Edition of the Oakland Post: Week of April 24 – 30, 2024

Published

on

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Continue Reading

Activism

Oakland Post: Week of April 17 – 23, 2024

The printed Weekly Edition of the Oakland Post: Week of April 17 – 23, 2024

Published

on

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Continue Reading

Subscribe to receive news and updates from the Oakland Post

* indicates required

CHECK OUT THE LATEST ISSUE OF THE OAKLAND POST

ADVERTISEMENT

WORK FROM HOME

Home-based business with potential monthly income of $10K+ per month. A proven training system and website provided to maximize business effectiveness. Perfect job to earn side and primary income. Contact Lynne for more details: Lynne4npusa@gmail.com 800-334-0540

Facebook

Activism1 month ago

Oakland Post: Week of March 20 – 26, 2024

Activism1 month ago

Oakland Post: Week of March 27 – April 2, 2024

#NNPA BlackPress1 month ago

From Raids to Revelations: The Dark Turn in Sean ‘Diddy’ Combs’ Saga

#NNPA BlackPress1 month ago

COMMENTARY: D.C. Crime Bill Fails to Address Root Causes of Violence and Incarceration

#NNPA BlackPress1 month ago

Mayor, City Council President React to May 31 Closing of Birmingham-Southern College

Sen. Steven Bradford (D-Inglewood). Photo Courtesy of L.A. Sentinel
Community2 weeks ago

Financial Assistance Bill for Descendants of Enslaved Persons to Help Them Purchase, Own, or Maintain a Home

#NNPA BlackPress1 month ago

COMMENTARY: Lady Day and The Lights!

#NNPA BlackPress1 month ago

Baltimore’s Key Bridge Struck by Ship, Collapses into Water

#NNPA BlackPress1 month ago

Beloved Actor and Activist Louis Cameron Gossett Jr. Dies at 87

#NNPA BlackPress1 month ago

Baltimore Key Bridge Catastrophe: A City’s Heartbreak and a Nation’s Alarm

Activism4 weeks ago

Oakland Post: Week of April 3 – 6, 2024

#NNPA BlackPress1 month ago

Grassroots Advocates Invited to Step into the World of Child Tax Policymaking

On her daylong trip, Harris was joined by Horford, SBA Administrator Isabella Guzman, Interim Under Secretary of Commerce for Minority Business Development Agency (MBDA) Eric Morrissette, and Sen. Catherine Cortez Masto (D-Nev).
Business2 weeks ago

V.P. Kamala Harris: Americans With Criminal Records Will Soon Be Eligible for SBA Loans

Teachers and students protest the closing of schools in Oakland. Photo courtesy of PBS.
Community2 weeks ago

AG Bonta Says Oakland School Leaders Should Comply with State Laws to Avoid ‘Disparate Harm’ When Closing or Merging Schools

#NNPA BlackPress1 month ago

PRESS ROOM: This Little Light of Mine in Space: Topper Carew sends Payload up to the International Space Station: It was launched on January 30.   

Trending

Copyright ©2021 Post News Group, Inc. All Rights Reserved.