![]() ![]() ![]() But the bottom 20 percent of taxpayers saw their AGI fall by more than half over the same period. Stein said part of these changes can be seen by looking at the share of income taxes paid by top earners compared to the growth in their adjusted gross income, or AGI.īetween 19, the average inflation-adjusted AGI for the top 0.1 percent of Wisconsin taxpayers more than quadrupled. "If you're on the conservative side, you're going to welcome that because you're gonna feel like it maybe makes the state's economy a little more competitive or may provide more incentives for people to look for ways to earn more money." "If you're someone I think on the left end of the political spectrum, that's not going to be welcome news to you because you would like to see a tax system that reduces disparities in income and wealth in the country," Stein said. Jason Stein, research director for the Wisconsin Policy Forum and author of the report, said the data show Wisconsin still has an income tax that is progressive compared to other states, meaning people at upper income levels are paying higher tax rates.īut, he said, the changes in the average tax rate show the state’s income tax is getting less progressive over time. The lowest income class was the only group that did not see a decline in the average tax rate. The middle 20 percent of taxpayers saw their average income tax rate fall by 20 percent over that time, from 3.1 percent in 1980 to 2.5 percent in 2020.īut the bottom 20 percent of taxpayers in the state saw their average tax rate increase by nearly double over the 40-year period, starting at 0.2 percent in 1980 and rising to 0.5 percent in 2020. The average rate was calculated by taking the total taxes owed by all taxpayers in a group and dividing it by their total adjusted gross income.įor the top 1 percent of taxpayers, the average income tax rate fell by 30.6 percent between 19, going from 7.9 percent to 5.5 percent. Using data provided by the state Department of Revenue, the report looked at the average income tax rate for different income classes. The Wisconsin Policy Forum report released Wednesday looked at how income tax rates have changed since 1980 in Wisconsin and the biggest policy decisions driving those changes. Here is a list of our partners who offer products that we have affiliate links for.A new report on state income taxes found most Wisconsinites have lower tax rates than they did 40 years ago - but for residents with the lowest incomes, that rate has gone up. While we work hard to provide accurate and up to date information that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. ![]() ![]() Second, we also include links to advertisers' offers in some of our articles these “affiliate links” may generate income for our site when you click on them. This site does not include all companies or products available within the market. The compensation we receive for those placements affects how and where advertisers' offers appear on the site. First, we provide paid placements to advertisers to present their offers. This compensation comes from two main sources. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective. ![]()
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