Fun fact, we Nutmeggers spend a lot of money on our Government. We pay high income, sales, property, vehicle property, and gas taxes in the nation. So, it’s no big surprise that we, again, shoulder one of the largest tax burdens in America.
There’s a reason why people say we are home of some of the worst taxes in America.
Everybody make some noise by shouting “boo!”
But, the way Wallethub determined their numbers is pretty interesting. This group studied not only all the taxes we pay, but also compared it individually against our personal incomes. And, as we all know, our personal incomes kinda suck right now...
So, they calculated tax burdens based on a percentage, saying ours comes in at 10.19 percent.
As for our property taxes? 7th worst with a 4.17 percent rating. We also came in 7th for worst income tax burden, too, at 3.34 percent.
However, this study did find one tax area that we do see a modicum of relief: sales and excise tax burden. As it turns out, we came in 42nd there.
Which means our politicians might get a few ideas following this report. “Wait, we AREN’T in the top 10 in this category? Oh, my GOD, we have to change this immediately!!1!”
Also, surprising no one, Wallethub confirmed blue state have a WAY higher tax burden than red states.
So, which states beat us? Surprising no one is New York at #1 with Hawaii and Maine closing out the top 3. Vermont and Minnesota also beat us out this year to make the top 5.
But, you know, once tolls come in our day will finally come. Might as well enjoy the calm before the storm, right?
Wallethub also hilariously found out the things we Americans would rather do than pay taxes.
The study asked what people would do to guarantee a tax-free future and the #1 answer was, at 37 percent, moving to another country. In second: tattooing “IRS” somewhere on your body. Switching political parties came in third and a taking a 6-month vow of silence came in 4th. However, closing out the top 5 responses? Taking a vow of celibacy – at 14.6 percent.
I mean, we already get screwed by taxes, amirite?
Oddly enough, Wallethub included a rate 6th response because it was just too funny not to include. 11.24 percent of respondents would name their baby “taxes” to never pay Uncle Sam ever again.
How strange… but then again, chances are the people willing to do these things probably are from Connecticut.
Our state is in a perpetual budget crisis and our overall tax burden is spiraling out of control. However, our politicians believe that the only solution is to perpetually raise taxes. So, the cycle of abuse never ceases and only gets worse.
Do you think our state can spend its way out of a deficit? All that I know is that our politicians are hellbent on becoming the first state to achieve just that.
So, how do you feel about not having the WORST tax burden in America and only having “one of the worst?” How different will our numbers be next year if our state stays blue? What about if we go red?
Tell me your predictions in the comments below!