Which income tax is more progressive — the U.S. or California?
I’ve written before about how — for many Californians — the Golden State income tax is LOW. It’s not as low as the 7 states with zero state income tax, but for many it’s lower than MOST states. That’s because CA has the most “progressive” income tax in the nation. As my 2013 example showed, a family of four (two minor kids) making a modest $50,000 salary and taking only the standard deduction pays a whopping $73 CA state income tax. Most states levy a higher tax — often MUCH higher. If that family makes $40K, they actually pay LESS than zero state income tax — they get exemption credits back (like the federal EITC credit program). http://www.blogger.com/blogger.g?blogID=966111884939957147#editor/target=post;postID=4138464434125132809 But I thought I’d take it a step further — comparing the CA progressive income tax with the FEDERAL progressive … Read More