New Study: Missouri's Taxes Hit Poor & Middle Class Families Harder Than Wealthy

The Institute on Taxation and Economic Policy has released a new study arguing that MIssouri's state taxes hit poor and middle class Missourians far harder than the wealthy.

Low- and middle-income families in Missouri pay a far higher share of their income in state and local taxes than the richest families in Missouri, according to a new study by the Institute on Taxation & Economic Policy...

When all Missouri taxes are totaled up, the study found that:

• Missouri families earning less than $17,000 -- the poorest fifth of Missouri’s non-elderly taxpayers -- pay 9.6 percent of their income in state and local taxes.
• Middle-income Missouri taxpayers -- those earning between $31,000 and $50,000 -- pay 9.5 percent of their income in Missouri state and local taxes.
• But the richest Missouri taxpayers -- with average incomes of $1,170,600 -- pay only 6.6percent of their income in Missouri state and local taxes.

In the current political climate, it's  hard to talk about a fair tax system (though it's very easy to talk about a "Fair Tax" system) that would increase the share of taxes paid by upper income individuals.  I hope we get to the point where we can talk about it soon.

For more info:

• The Institute on Taxation and Economic Policy's full report is here
• Missouri-specific data is here
• Visit the Missouri Budget Project