Tuesday, September 22, 2015

Study Says Texas Tax System Among Least Fair In Nation

Posted By on Tue, Sep 22, 2015 at 12:00 AM

click image JOHN MORGAN/FLICKR
  • John Morgan/Flickr
In a recent survey conducted by WalletHub, Texas' tax system was ranked as one of the least fair in the nation.

According to the survey, Texas took the 43rd spot in the overall ranking of state/local tax fairness and is ranked among the 10 states that undertaxed its wealthiest citizens. Only seven states levy fewer taxes on the top 1 percent of income earners, and of those top 10 states, Texas by far has the largest population. 

Meanwhile, Texas is also among the top 10 states that overtaxes the poorest households included in the bottom 20 percent of the income bracket.

The "most fair tax system," according to the WalletsHub, 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. But remember taxing the rich less while taxing the poor more is what makes Texas — and America — great.

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