Shock Study (OK, Not Really): Illinois a High-Tax State

Telling us something we already know, WalletHub.com has a new study out saying Illinois' tax burden on low-income earners is one of the worst in the country. And Illinois' tax burden on middle-income earners is one of the worst in the country. And Illinois' tax burden on high-income earners is one of the worst in the country.

Tax Burden in Illinois (1=Best, 51 =Worst):

• 49^th – Low Income Earners (12.10% of Income)
• 50^th – Middle Income Earners (11.30% of Income)
• 44^th – High Income Earners (9.83% of Income)

According to the website, here's how they figured out the rankings:

WalletHub identified the best states where people in different income brackets spend the most and least on sales and excise taxes, property taxes and income taxes. It’s important to note that our analysis does not focus on tax rates but rather on the share of a person’s income that he or she contributes toward various tax obligations. For instance, tax rates may be lower in one state, but because of a comparatively higher cost of living, the actual tax burden may be higher for that state’s residents.

You can see more of the detailed findings at WalletHub.com.