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View Diary: Give Me One Good Reason Why The Rich Should Pay Higher Taxes (214 comments)

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  •  CA (2+ / 0-)
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    Ahianne, Into The Woods

    California households in the lowest 20 percent of income pay the highest portion of their earnings when it comes to state and local taxes -  new report from the California Budget Project.  Under Arnold changes in state tax law have benefited corporations while costing individual taxpayers more.

    Ninety-five percent of the people in the world need to be told what to do and how to behave. Arnold Schwarzenegger, The Education of a Bodybuilder

    by anyname on Thu May 13, 2010 at 07:14:02 PM PDT

    •  The "People's Republic" of California? MN too. (2+ / 0-)
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      Ahianne, anyname

      Same thing for the "progressive" state of Minnesota.

      The 2009 Minnesota Tax Incidence Study, brought to you by the same folks that calculate the budget and did the math for Governor Pawlenty's unconstitutional  unallotment confirms that in MN the more you make, the less of it you pay, at least in state and local taxes.

      If, as a household, you're making $200,000, you're in roughly the top 5% of Minnesota returns by households.

      To be in the top 1%, your household income needs to be closer to $500,000.

      The top 5% pay an effective rate of combined state and local tax of 9.7%.

      The top 1% pay an effective rate of combined state and local tax of 8.8%.

      Other than those in the top 10%, every other category pays at least one full percent higher and most pay closer to 2% or 3% higher than those in the top 5%. (The bottom 10% are shown to pay much, much more, but have statistical issues detailed on printed pg 17 of the report.)

      Minnesota Tax Incidence Studies
      Who pays Minnesota’s household and business taxes?
      (Home page)

      2009 Tax Incidence Study (Using November 2008 Forecast) PDF file

      It's 'redistribution' whether it happens before or after the money is made and whether it goes up to a small group or down to a larger one.

      by Into The Woods on Thu May 13, 2010 at 08:19:48 PM PDT

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