Here Are the 10 States Where You’ll Pay the Highest Lifetime Taxes

Source: https://www.activistpost.com/2021/05/here-are-the-10-states-where-youll-pay-the-highest-lifetime-taxes.html
Published: May 25, 2021
Author: Mike Rivero
Post Date: 2021-05-25 19:07:27 by Horse
Views: 173

In the mood for a depressing statistic? A new report from the financial services firm Self concludes that the average American will pay an astounding $525,037 in taxes over their lifetime—roughly 34 percent of their lifetime earnings.

But the numbers aren’t uniform across the country; they vary wildly from state to state. Based on taxes on earnings, spending, property, and cars, here are the 10 states with the highest taxes over a lifetime.

1. New Jersey

Topping the list is New Jersey, where residents will, on average, owe an astounding $932,000 in taxes over their lifetime. That’s nearly 50 percent of their typical lifetime earnings!

2. Massachusetts

Next up is my home state of Massachusetts, aptly dubbed “Taxachusetts” by disgruntled residents (and former residents!). Their frustration is understandable, as they will owe an average of $827,000 in lifetime taxes.

3. Connecticut

The New England trend continues with Connecticut coming in third on the ranking. Typical residents will owe a whopping $805,000 in taxes over their lifetime.

4. Washington, DC

Technically not a state but included in this ranking for relevant comparison, the nation’s capital comes in as one of the highest-tax destinations. The average DC resident will pay $789,934 in taxes over their lifetime.

5. New Hampshire

Next up is a surprise inclusion: New Hampshire. The Granite State boasts zero income taxes and zero sales taxes, but according to this report, average residents will still owe roughly $778,800 in lifetime taxation.

6. Rhode Island

Rhode Island may be the smallest state in the US, but its tax burden is one of the largest. The report concludes that Ocean State residents will pay, on average, $767,000 in taxes over their lifetime.

7. New York

Next up is the Empire State. New Yorkers will have to shell out an average of $735,000 in taxes over the years.

8. California

In eighth ranks a state many would’ve expected to come in even higher: California. Californians will owe nearly $711,000 in taxes over an average lifetime.

9. Maryland

Tax-weary residents of Washington, DC won’t find much relief across the Maryland border. In Maryland, average lifetime taxes come in at just under $700,000.

10. Illinois

Next up is Illinois. Residents will have to pay almost $694,000 in taxes, on average, over their lifetimes. The Big Picture

This new report offers more than just helpful information for frugal folks on the market for a move. Comparing the vast sums of confiscated wealth residents of these states face to their low-tax competitors like Tennessee, where lifetime taxes average about $348,000, reminds us why our federalist system of state-level policy variation is so important.

Americans can vote with their feet for policies that reward work rather than attack wealth. And if the hordes of people leaving California and New York for Texas and Florida are any example, that’s exactly what they’re doing.


Poster Comment:

All those states are run by Democrats and RINOs. Tennessee has a Republican governor and both state houses under Republican control. No state income tax.

Post Comment   Private Reply

#1: Anthem    To: Horse (#0)

I think Texas is going majority Democrat overall.

Anthem posted on 2021-05-25 23:06:11   Reply   Private Reply


#2: NeoconsNailed    To: Horse (#0)

Tennessee has a Republican governor and both state houses under Republican control. No state income tax.

Notably because when Gov. Don Dumbquist proposed it years ago, people held massive protests against it and even -- gasp -- broke a window in the state house. I wrote this up in the Nationalist Times print newspaper -- the photo with smiles and articulate picket signs was priceless.

NeoconsNailed posted on 2021-05-25 23:18:12   Reply   Private Reply


#3: Horse    To: Anthem (#1)

Texas is going Mexican. But you cannot project the past to accurately predict the future. Hyperinflation, Nationwide Food Riots and mass starvation are all coming to America. Tens of millions to die from Bioweapon 1 (Covid), Bioweapon 2 (the mRNA injections) and 3) the yet to be released binary partner of the covid vaxxes. And a possible Civil War. Deagel.com might have been right about the majority of Americans dying by the end of 2024.

Horse posted on 2021-05-26 09:08:11   Reply   Private Reply