Monday, September 21, 2015

Study says Florida tax system among 'least fair' in nation

Posted By on Mon, Sep 21, 2015 at 2:11 PM

click image PHOTO VIA FLICKR
  • Photo via Flickr

In a recent survey conducted by WalletHub, Florida's tax system was ranked as one of the least fair in the nation, showing us that the Sunshine State might be a little shadier than it should be.

According to the survey, Florida took the 45th spot, just ahead of Mississippi, because our tax system shows that lower income families pay more taxes than any other category.

One of the main reasons we landed at 45 was our 3rd place ranking for under-taxing the rich and a 4th place ranking for over taxing the poor. Overall, Florida's tax system is one that has lower-income households paying higher taxes while higher-income households pay lower taxes.

The "most fair tax system," according to the article, is one that many respondents more or less agreed on: a progressive tax system. In a progressive tax system, lower-income households pay the least, middle-income households pay a little more than the lower-income homes and higher-income households are to pay the most. 

click to enlarge GRAPH VIA WALLETHUB
  • Graph via WalletHub

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