We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Local government taxes - Essay Example

Comments (0)
Summary
Name: Instructor: Course: Date: Local Government Taxes Are state and local government taxes mostly regressive, progressive or neutral? Americans can define tax fairness in various ways. Despite this, they all have a shared vision: most Americans believe their government should put additional effort in helping its citizens with the vast majority being of the belief that the wealthier Americans should actually be the ones to pay higher taxes in order to support the priorities…
Download full paper
GRAB THE BEST PAPER
Local government taxes
Read TextPreview

Extract of sample
Local government taxes

Download file to see previous pages... The poorest twenty percent of Americans, on average, pay a combined local and state tax rate of eleven percent while those in the wealthy bracket only pay five and a half percent. This disparity becomes even more pronounced in the Washington State, which possesses the most regressive system of tax with the poorest twenty percent paying an average rate of seventeen percent while the wealthy families pay only 2.3%. What are the most regressive and progressive states? Progressive States The most standout feature of regressive tax states is the progressive nature of income taxes and less reliance on excise and sales taxes. Vermont taxes, for example, are among the least regressive in the US due to their highly progressive income tax and decreased excise and sales taxes (Davis et al 3). Vermont’s tax system is also rendered as a little unfair because of the refundable EITC. Delaware’s income tax regime, however, is not progressive, but the high reliance it has on income taxes and low utilization of consumption taxes makes its tax system only slightly regressive. The District of Columbia and New York have each achieved a tax system that is close to flat overall via the use of generous EITCs, as well as an income tax that has relatively high top rates (Davis et al 3). However, it should be noted that the least regressive states as far as tax policy is concerned generally still fail to meet the criteria that most people would consider as a minimal standard of tax fairness. In these states, some middle or low-income groups actually pay more local and state income tax than the wealthy actually do. New Jersey is another of the progressive states with their legislature passing a millionaire’s tax, which was vetoed; however, by the Governor for the third straight year. The revenue raised from this would have helped offset property tax decreases for middle class. Finally, Rhode Island came up with an innovative tax idea to reduce incrementally corporate taxes to companies that created employment over a 3-year period in the state, which was a progressive move. Regressive States On the other side, of the tax regimes are ten states that have particularly regressive state and local taxes. These include; Alabama, Pennsylvania, Nevada, Arizona, Illinois, Texas, Tennessee, South Dakota, Florida, and Washington. In these states, residents with lower income are asked to pay almost six times as much income tax as their wealthier counterparts. Middle-income families residing in these states have to pay three times the share of their income when compared to the wealthier families. In a majority of these states, including Nevada, Tennessee, South Dakota and Washington, personal income taxes are not levied on a broad base. The rest of these states, including Illinois and Alabama, do levy income tax, although their income tax is structured in a way that makes them less progressive than, for example, New York and other progressive states. Illinois and Tennessee have an income tax at a flat rate, which taxes the wealthy using similar marginal rates to those used in taxing the poor wage earners. Nevada, Tennessee ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
A seminar/law paper that is on vice/sin taxes and how the government apply/use them
Sumptuary tax, also known as a sin tax, is a form of taxation that imposes an additional charge on culturally disfavored products such as cigarettes, liquor, gambling, and so on, appeals to voters who view it as a way of discouraging consumption of these objectionable products.1 Yet the temptation to impose taxes is one driven by economic reasons and has proven to be very lucrative and worthwhile.
22 Pages(5500 words)Essay
Taxes
The world has witnessed the failure of the planned economy with the fall of the former USSR. However, certain features of planned economy are still visible in the form of socio-political interventions that take place in the mixed economy capitalism. From the perspective of the American capitalist democracy, such policy interventions by the government are dangerous.
3 Pages(750 words)Essay
State and local government finance: Massachusetts
This division is also charged with the duty to monitor the repayment of these particular debts. The local government is therefore expected to actively participate in determining projects’ feasibility, the most appropriate form of financing and the realistic size of financing.
3 Pages(750 words)Essay
Economics of State and Local Government
These are provisions that require that there be no federal controlling of the curriculum. Federal funding is to be provided to States and States aren’t required to cover the bill in the event that the federal government is unable to pay. Test results will be made available in annual report cards showing that they are well on their way to being 100% proficient for all groups of students.
6 Pages(1500 words)Essay
Oil Taxes
This paper intends to look into the different taxes imposed on crude oil according to the new tax codes imposed as an effective contribution to the global economy. In this modern era, the industrial economy around the world has relied so much on oil as the lifeblood of every nation's major source of energy.
15 Pages(3750 words)Essay
State and Local Government Corruption
Degrees of corruption vary greatly, from minor uses of authority and backing to do and return favors, to institutionalized bribery and even extortion, influence peddling, and fraud (Political Corruption 2005). Local government corruption could include social benefits programs, government property and services, purchasing frauds, corrupted inspections, tainted land use decisions and a raft of embezzlements of government funds (Local Government 1992).
7 Pages(1750 words)Essay
Financial Analysis of a Local Government in South Florida
Financial analyses are important to the public as well as the government entities themselves. Financial analyses’ are used by t for local governments and many of the people that make it up. This list includes “mayors, city secretaries, financial department heads and heads of other departments as well as City Council members.
2 Pages(500 words)Essay
Local Government
Traditionally, the roles of the council are to design and formulate policies on behalf of the City and the national government. Yet, over the years, this responsibility becomes highly centralized at the national level. Decision-making becomes slow, creativity diminishes, and the government is charged for inefficiency and is full of rigidity.
13 Pages(3250 words)Research Paper
How can a city government grow without increasing taxes on its citizens
In the last few decades the suburbs of the city of Dallas has seen a drastic growth in population and economy. As a result, city governments have grown and have taken more responsibility in developing and maintaining the cities. Places like Frisco, Plano and McKinney are
1 Pages(250 words)Essay
Analysis on state and local taxes on the poor
It will assess whether or not the poor pay more taxes than high and middle income people. It will also seek to describe the effect of increasing the minimum wage. Contrary to the belief of many, low income people pay relatively low taxes
1 Pages(250 words)Essay
Let us find you another Essay on topic Local government taxes for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us