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Monday, October 20, 2014

Some states get a lot more from the Federal Government than they pay in Federal Income Taxes

The Wall Street Journal has analyzed how much money each state gets from the Federal Government, as a ratio of the amount of federal income taxes paid by residents of that state, how many federal employees there are in that state, and the percentage of revenue in the state that is from the Federal Government. My state, South Carolina, gets more return (if you want to put it that way) on income taxes paid than any other state, namely $7.87 received for each dollar of federal income tax paid. The report says: ". . . what the data in the study generally reveal (although not the whole story) is the redistribution of national income from wealthier individuals (states) to lower-income individuals (states) in the form of health and welfare benefits."

The report also indicates that "Red" states receive significantly more from the Federal Government than "Blue" states. (Red states mostly vote Republican, Blue vote Democratic.)

Thanks for reading.

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