Top 7 Worst Midwest States for Taxes
With the primary election set for next Tuesday in Illinois, there certainly is a huge increase in discussion from politicians and voters about taxes and the how much we pay. So, are people in Illinois getting a good deal compared to our neighboring states?
The answer is....NO! The rankings are out, and yes Illinois ranks dead last when it comes to the amount of money they get to keep, after taxes.
According to research published by the Illinois Policy Institute, Illinoisans saw more than 30 percent of their income go to income taxes and property taxes.
The old saying is true: "it's not what you make, it's what you keep." If you live in Illinois the numbers are pathetic.
How much of your income goes to taxes? Here are the rankings:
- 1. Illinois 31.1 %
- 2. Wisconsin 28.7 %
- 3. Michigan 25.1 %
- 4. Iowa 24.6 %
- 5. Indiana 23.3%
- 6. Missouri 23.1 %
- 7.Kentucky 21.1 %.
To make matters worse, Illinoisians face even higher taxes, if lawmakers get their way and pass a progressive tax. If you want to keep more of your money, Kentucky is the place to live.