Reports from the Economic Front

a blog by Marty Hart-Landsberg

Tax Policies

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.

top_income_tax_rates_display-650x490.jpg

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