Reports from the Economic Front

by Martin Hart-Landsberg

Tax Policies

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States have a variety of different approaches to taxing income.  The following chart, which comes from the website VisualizingEconomics (which got the information from the Tax Foundation), illustrates this.  As it shows, some states have a special top tax rate for the highest earners, some a graduated tax rate with big brackets, others a flat tax, and still others no tax on income.

It is worth noting that almost all states are suffering from budget deficits requiring significant cuts in public spending and employment.

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Written by marty

May 30th, 2010 at 10:27 am

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