New Jersey and Washington DC have highest US taxes
With Tax Day approaching, here’s a sobering thought: The average American pays $524,625 in taxes in their lifetime, according to a new study.
The report also ranks states on lifetime tax costs. And if you live in the Northeast, you may want to sit down for this:
New Jersey residents pay $987,117 in lifetime taxes, the analysis found, the highest tab in the nation. Washington, D.C., comes second, with a lifetime tax burden of $884,820. Connecticut and Massachusetts are third and fourth, at $855,307 and $816,700.
The lowest-tax state is West Virginia, with a lifetime cost of $358,407.
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Texas does not have a personnel income tax, but does have a sales tax. I prefer the sales tax, because it gives me the option of whether I want to pay more.
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