While everyone pays taxes, or at least should, many don't consider how well the returns are on that "investment." At least not in those terms. According to WalletHub, taxpayer ROI varies based on where a person lives. Federal income-tax rates are uniform across the nation, but some states receive a lot more funding than others. Different states have also received vastly different amounts of COVID-19 aid. Add to this the fact that state taxes vary dramatically. Does this mean that people in high-tax states receive superior government services or that those in low-tax states more efficient or receive low-quality services? The data set included 30 key metrics, each of which was graded on a 100-point scale, with a score of 100 representing the best quality of government service. WalletHub then determined each state's weighted average across all 30 metrics to calculate an overall government services score. Finally, it came up with a taxpayer ROI ranking by comparing each state's over government services score (1 being the best) to its total taxes paid per capita (1 being the lowest). See the slideshow above for the 12 states with the best taxpayer return on investment, according to WalletHub. Related: |
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.