Every State Taxes Its 1 Percent At A Lower Rate Than Low-Income HouseholdsQuicklink submitted By Amanda Lang Permalink
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'In the entire U.S., only the District of Columbia charges the richest 1 percent a higher tax rate than the poorest 20 percent, according to the report.'
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|The "47 percent" that Mitt Romney derided for paying no federal income tax, and thus taking no "personal responsibility and care for their lives," actually pay a slew of other taxes at rates higher than Romney himself pays. The lion's share of the tax breaks handed out by the U.S. don't go to low-income households or the middle class, but to the rich.
And according to a new report from the Institute for Taxation and Economic Policy, things are even worse at the state and local level level. In fact, all 50 states impose higher tax rates on low-income households than their richest 1 percent, when state and local taxes are taken into account... In the entire U.S., only the District of Columbia charges the richest 1 percent a higher tax rate than the poorest 20 percent, according to the report.