Hoosiers pay more taxes, earn less pay. [Greenfield Daily Reporter]
A national study found that Indiana residents have paid an increasing percentage of their income on state and local taxes at the same time their average income was shrinking.
The study by the conservative Tax Foundation think tank found Indiana taxpayers shelled out 9.5 percent of their incomes in state and local taxes in 2011. That's up from 8.4 percent a decade earlier, The Indianapolis Star reported (http://indy.st/1epOoAL ).
The study shows Indiana went from being the 43rd-highest-taxed state in 2001 to the 22nd-highest-taxed state in 2011. During that time, per-capita income for the state's residents dropped $1,064, or about 3 percent, to $35.592We are cutting business taxes though.
Counting only business taxes, the Tax Foundation said Indiana had the eighth-best state business tax climate in 2014, an improvement from 10th in 2013. The foundation noted that the corporate tax, in particular, is being phased down from a high of 8.5 percent in 2012 to a projected 4.9 percent in 2022.
also more [here]
Which should lead to an even more regressive tax system. We may be in the top five (currently in top 10) by the time Pence retires to the Lobbyist farm.
Republicans Mitch Daniels (2005-2013) and Mike Pence (2013 +) should be proud.