Jersey and Taxes, Perfect Together
Ever wonder where your federal tax dollars go? And how much we get back for them?
Biggest Tax Donors
The state of Massachusetts gets 77 cents in federal spending for every dollar that it sends to Washington in tax revenue, according to a study by a tax policy think tank.
The nonprofit Tax Foundation released the results of an annual study which found that states that had more high-cost urban areas with higher median incomes chipped in more federal tax revenues than they got back in spending.
...
Scott Hodge, president of the Tax Foundation, said the disparity for states like Massachusetts has more to do with their citizens earning more money, and less to do with the congressional delegation not doing its job.
"The main culprit is not lazy congressmen who don't bring home enough pork, but rather the progressive income tax," Hodge said. The study identifies 18 donor states — those who contribute more to the federal tax pie than they get back — and 32 "beneficiary" states. New Jersey had the distinction of being the biggest donor, with that state only getting back 55 cents for every dollar in federal taxes paid by its residents and businesses.
Biggest Tax Donors
The state of Massachusetts gets 77 cents in federal spending for every dollar that it sends to Washington in tax revenue, according to a study by a tax policy think tank.
The nonprofit Tax Foundation released the results of an annual study which found that states that had more high-cost urban areas with higher median incomes chipped in more federal tax revenues than they got back in spending.
...
Scott Hodge, president of the Tax Foundation, said the disparity for states like Massachusetts has more to do with their citizens earning more money, and less to do with the congressional delegation not doing its job.
"The main culprit is not lazy congressmen who don't bring home enough pork, but rather the progressive income tax," Hodge said. The study identifies 18 donor states — those who contribute more to the federal tax pie than they get back — and 32 "beneficiary" states. New Jersey had the distinction of being the biggest donor, with that state only getting back 55 cents for every dollar in federal taxes paid by its residents and businesses.
Thanks to metroplexual for the link as well as the graphics. If you think this is interesting wait until you see the migration pattern charts!
Caveat Emptor!
Grim
5 Comments:
Just a small explanation. I saw the data and wanted a visual of it. Often a chart is very good but seeing it visual makes patterns jump out.
Just an observation, as you can see the states that tend to vote Republican in Presidential elections tend to be the ones most subsidized. BTW, I wanted to do dollar amounts but the link would not go through. Maybe next week?
BTW Grim,
If you have data that you would like to see mapped by county or state, I would be glad to help out.
I thought the Republicans were against relying on the federal government for "handouts"
Oh wait, they only mean handouts for people who vote for Democrats...ROFLMAO
Anonymous,
check out this link if you want to see how bad states are. FAS
http://homepage.mac.com/wxguyinal/CFUI/FileSharing42.html
Not sure how the bubble comes down to Republicans and Democraps.
Seems to me a lot of people on both sides are making tons of money on housing.
I have been following a site now for almost 2 years and I have found it to be both reliable and profitable. They post daily and their stock trades have been beating
the indexes easily.
Take a look at Wallstreetwinnersonline.com
RickJ
Post a Comment
<< Home