Monday, April 07, 2014
Best & Worst States to be a Taxpayer
Nevada is #3, Illinois is #47.
Economic mobility – that is, our ability to climb the proverbial ladder – has a strong correlation to where we live. Children from Seattle whose families are in the 25th percentile in terms of income, for example, end up at roughly the same economic stature as kids from the median family in Atlanta.
Why? State and local taxes. At least that’s what a group of Harvard and Berkeley researchers collaborating on The Equality of Opportunity Project have to say. They “found a significant correlation between both measures of mobility and local tax rates.”