The poor in Florida pay a much higher percentage of their income in taxes than do the rich, according to a new report from a Washington, D.C., tink tank.
The report from the Institute on Taxation and Economic Policy notes that Florida’s lowest income group – those making about $10,500 a year – pay more than six times more of their income in taxes than those in the top 1 percent – those making about $2.4 million a year – based on income and taxes paid in 2007.
Those in the lowest group pay on average 13.5 percent of their income in state and local taxes, while those in the higher income bracket pay, on average, 2.1 percent, the report notes.
Middle-income families – those making about $37,400 a year – pay an average of 9 percent of their income, or more than four times as much as those in the highest income group.
Nationwide, the state and local tax obligation for all states averages about 10.9 percent for low-income families, 9.4 percent for middle-income and 5.2 percent for those in the top income bracket.
The findings are, in large part, due to the fact that Florida has no personal income tax, and relies on the state sales tax for revenue.