A recent post on Reddit's main economic forum included a 2018 graphic that shows that Texans pay more taxes than Californians unless they are in the top 1 percent. Here are the facts.
A recent post on Reddit's main economic forum included a 2018 graphic that shows Texans pay more taxes than Californians unless they are in the top 1 percent.may want to turn around if they are not in the top 1 percent of earners.included a 2018 graphic that shows Texans pay more taxes than Californians unless they are in the top 1 percent. The post is one of the highest-rated in the last month on the social media platform. It is unclear why the post was shared now.
In California, the bottom 20 percent of income earners — those earning less than $23,200 — pay 10.5 percent in state and local taxes, while the top 20 percent — those earning $714,400 or more — pay 12.4 percent. However, unlike other states, Texas has no"progressive counterbalance," Davis said, because there is no state income tax.
For its data, the nonprofit relied on IRS income tax data, the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey, sales tax data and property tax data from sources like the Census Bureau, Davis said.
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