State & local taxes: Who pays the most?

Allowing the rich to pay less taxes does not result in job growth. Business do not hire new workers unless they absolutely have to do so, and what creates that need is a demand for their services or products. The kind of demand that comes from a vibrant middle class with money in its pockets to spend. NCGA needs to re-address its 'tax reform' and come up with better ideas.

Last month, the nonpartisan Institute on Taxation and Economic Policy found Last month, the nonpartisan Institute on Taxation and Economic Policy found that the poorest 20 percent of households pay on average more than twice the effective state and local tax rate (10.9 percent) as the richest 1 percent of taxpayers (5.4 percent).

...if tax laws were changed to compel the highest income earners to pay the same rate as everyone else, states and localities would rake in up to $128 billion a year in new revenue. If just the top 1 percent of earners were compelled to pay the typical middle-class tax rate, the report says the change would raise more than $68 billion in new annual revenues.thathe poorest 20 percent of households pay on average more than twice the effective state and local tax rate (10.9 percent) as the richest 1 percent of taxpayers (5.4 percent).

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