The Growth Of Regressive Taxes

No national sales tax. However, most of us pay sales tax little each day. This regressive tax is one of the two main sources of revenue for most states. Consumption taxes are also important sources of income. For both types of taxes are based on consumption, its impact is relatively higher in poor and middle class. Texas, almost 80% of total government tax revenues accrue sales and excise taxes. He has more than 20 billion dollars!

Yet faster growth in government income is its insidious casino gambling and lotteries. Only 15 years ago in New Jersey and Nevada was the only states where gambling is legalized. Currently, 49 states with some form of gambling is legal, and each year the state legislature approves new forms. Texas does not yet have casinos. However, today in the ranks of lottery tax deductible as the source of state revenue quarter. In 2003, lotteries accounted for $ 1. 4 billion. The Texas Legislature has entertained bills to legalize casinos in the state. The casinos have opened here, the revenues from gambling will increase dramatically. In Connecticut, that gambling revenue surpassed the corporate income tax that the state’s third largest source of income. The regressive payroll tax takes a larger share of federal revenues. finance workers social security benefits and wages withheld on the first $ 87. 900. With the sizeable fall in tax rates on income since 2001, is the importance of the payroll tax has increased dramatically. Since 2000, payroll taxes have increased 32. 2% to 40. 0% of federal revenues. Name (required) Mail (will not be published) (required) Website