I’m a couple days late to this, but it’s that time of the year: the 2013 Minnesota Tax Incidence Study has come out. I post about this regularly, so let’s take a look at what is new in 2013!
Let’s start with the standard picture: the overall effective tax rate. Little has changed in the past few years.
Minnesotans are paying about 11½% of their income in taxes, the same since 2000. It is even projected to go down a few ticks in the future.
Next is my favorite graph, that of tax incidence broken down by decile. The same as before, the wealthiest 10% pay a lower share of their income in taxes than the middle class:
No wonder Governor Dayton’s plan to raise taxes on the rich is popular.
There really isn’t much new in this report. Despite all the hemming and hawing over the past several years, the tax situation is mainly status quo in Minnesota.