New Jersey 11.8%
New York 11.7
Connecticut 11.1
Maryland 10.8
Hawaii 10.6
California 10.5
Ohio 10.4
Vermont 10.3
Wisconsin 10.2
Rhode Island 10.2
Now take a look at the lowest.
Arizona 8.5%
Louisiana 8.4
Texas 8.4
Tennessee 8.3
South Dakota 7.9
New Hampshire 7.6
Florida 7.4
Wyoming 7.0
Nevada 6.6
Alaska 6.4
Anyone want to challenge the growth rates between these two groups of states? I'm also seeing a tinge of blue shading on the top group with the bottom group more of a red hue.
What's so "progressive" about high tax rates?
HT to taxprof
1 comment:
In an on-line story at http://www.forbes.com on August 5, 2008 titled America’s Fastest-Dying Cities, it seems that in the upheaval in the mortgage market nationwide, the rust belt did not suffer the huge declines imposed on other fast growing (formerly) cities. Now for the bad news. According to Forbes, Ohio is its worst state - it has the most “dying” cities which included four of the top 10. Those four are Youngstown, Dayton, Canton and Cleveland. The cities were ranked on fleeing population, high unemployment and stagnant economies. These four cities surround Summit County, and each share an industrial background with the Akron area. Tax rates in these cities have climbed to offset the government loss of revenue resulting from the decline. In sales taxes, Cuyahoga County leads the way in our area, with a rate of 7.75%. In income tax rates, Youngstown leads our area with a 2.75% rate. Akron recently raised its rate to 2.25% for its school building project, with the additional .25% allocated to new school construction. However, Akron has decided to reduce the credits it allows in its tax calculation which will effectively increase tax rates for its citizens who work outside the city.
When you couple rising sales and income taxes with rising real estate taxes, the burden continues on the consumers, businesses and residents.
Lower taxes will attract jobs. Redistribution will drive jobs away.
http://www.billconte.com/
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