I am an Ultra-Conservative, Alpha-Male, True Authentic Leader, Type "C" Personality, who is very active in my community; whether it is donating time, clothes or money for Project Concern or going to Common Council meetings and voicing my opinions. As a blogger, I intend to provide a different viewpoint "The way I see it!" on various world, national and local issues with a few helpful tips & tidbits sprinkled in.
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Study: State Tax Burden Falling Heaviest on Middle to Low Income Families
According to a study conducted by the Institute on Taxation and Economic Policy the burden of state taxes is falling heaviest on the shoulders of low to middle-income families as a percentage of income.
The poorest 20 percent pay 10.9 percent of their income on state taxes. The middle 20 percent pay 9.7 percent and the top 1 percent pay just 6.4 percent with further savings from itemized deductions at the federal level not taken into account.
"In the coming months, lawmakers across the nation will be forced to make difficult decisions about budget... which makes it vital to understand who is hit hardest by state and local taxes right now," said study author Matthew Gardner.