Soaking the Poor, State by State

State taxes are regressive.  No state in the country taxes the wealthy at as high a percentage of their income as they tax the poor.  Sales taxes and fees are particularly lopsided in their impact on the poor.  But some states take the practice of comforting the rich to quite lofty heights.

I’m thinking of a state.  Don’t guess yet.  In the last ten years it has jacked up fees on car registrations and small boat licenses while exempting yachts and skyboxes.  I know you want to guess, but wait.  In the last ten years it has done away with the Intangibles Tax on stock and bond portfolios.  Alright, here’s a little hint – its name beings with “F”.  It turns out that this rather populous state ranks second in the nation in the ratio of percentage taxes paid by the poor, relative to the percentage taxes paid by the top 1%.  This place soaks the poor over six times as hard as the very rich.  Alright, now guess.  See the tragic list here.