A new study of states with the highest & lowest tax rates by John S. Kiernan, Managing Editor, Wallethub, showed that of the 50 states and Dist. of Colombia, Illinois was dead last, coming in as number 51 (highest number best). Using their formula, they found that Illinois had the highest tax rates in the country.
According to the study, every year the average U.S. household pays over $8,800 in federal income taxes, according to the Bureau of Labor Statistics, and that there is a significant difference when it comes to state and local taxes. Taxpayers in the most tax-expensive states, for instance, pay three times more than those in the cheapest states.
WalletHub searched for answers by comparing state and local tax rates in the 50 states and District of Columbia against national medians. They calculated relative income-tax obligations by applying the effective income-tax rates in each state and locality to the average American’s income.
“Every year Illinois politicians and their buddies in the media declare that Illinois is a ‘low tax state.’ Study after study proves they are wrong,” said Jim Tobin, economist and president of Taxpayers United of Illinois (TUA).
“Fortunately, Illinois taxpayers have caught on to the lies and have declared war on the tax-and-spend politicians. TUA worked with leaders of local taxpayer groups, and the last attempt to raise taxes by Ill. Gov. Jay Robert ‘J. B.’ Pritzker and his democrat accomplices in the general assembly was crushed at the polls.”
“I should add that Pritzker’s approval rating has dropped from 48% to 40%, and that he has not announced whether or not he will run for governor again.”
Source: States with the Highest & Lowest Tax Rates (wallethub.com)