About state taxes
In New Mexico, poor families (those earning less than $13,000) pay 12.1 percent of their total income in state and local taxes compared to the richest residents (average incomes of $610,900) who pay 8.7 percent – and only 6.3 percent after accounting for the tax savings from federal itemized deductions.
The most regressive state, according to the institute, was Washington, where poor families pay 17.6 percent of their total income in state and local taxes. … Only eight [states] tax their wealthiest residents at rates as high as the poorest are required to pay.
You know what would help? Tax cuts for the rich.
www.sfnewmexican.com Santa Fe New Mexican homepage | News, opinion and sports from Santa Fe and Northern New Mexico (linkrot)