Georgia already has one of the most regressive state tax systems in the nation. Now, thanks to Republican lawmakers, the state’s tax system will become even more regressive. When fully implemented, changes in the tax system under laws passed in the recent general assembly will significantly increase taxes on the lowest 20% of wage earners while significantly lowering taxes on the top 1%. The lowest 20% will now be hit with an effective tax rate of 12.2% versus 5.3% for the top 1%.
Way to go Georgia Repubs. Take from the poor and give to the rich. Oh, wait. That’s what Repubs always do.
See the analysis at: http://www.itepnet.org/pdf/gapr0410.pdf