Monday numbers

Monday numbers

- in Fitzsimon File, Top Story

31.2—percentage growth in GDP from 2006-2016 in the nine states with no broad-based personal income tax (“Trickle-Down Dries Up: States without personal income taxes lag behind states with the highest top tax rates,” Institute on Taxation & Economic Policy, October 2017)

32.9—percentage growth in GDP from 2006-2016 in the nine states with highest personal income tax rates (Ibid)

29.0—personal income growth per capita from 2006-2016 in the nine states with no broad-based personal income tax (Ibid)

31.2— personal income growth per capita from 2006-2016 in the nine states with highest personal income tax rates (Ibid)

4.8—average unemployment rate in 2016 of the nine states with no broad-based personal income tax (Ibid)

4.3—average unemployment rare in 2016 of the nine states with highest personal income tax rates (Ibid)

78.7—average percentage share of the population in the nine states with no broad-based personal income tax in its prime working years—ages 25 to 54—that is currently employed (Ibid)

79.8— average percentage share of the population in the nine states with the highest personal income tax rates in its prime working years—ages 25 to 54—that is currently employed (Ibid)

41—percentage by which employment growth trailed population growth from 2006-2016 in the nine states no broad-based personal income tax (Ibid)

19—percentage by which employment growth trailed population growth from 2006-2016 in the nine states with highest personal income tax rates (Ibid)

10.7—average effective combined state and local tax rate for the poorest 20 percent of taxpayers in the states with no broad-based personal income tax (Ibid)

10.0—average effective combined state and local tax rate for the poorest 20 percent of taxpayers in the states with highest personal income tax rates (Ibid)

2.2—average effective combined state and local tax rate for the top one percent of taxpayers in the nine states with no broad-based personal income tax (Ibid)

7.4—average effective combined state and local tax rate for the top one percent of taxpayers in the states with highest personal income tax rates (Ibid)

900 million—amount in dollars of the cost of the tax cuts passed by the General Assembly this year when they are fully in place (“Costly Tax Cuts in New State Budget Continue Precarious Road Ahead for North Carolina, N.C. Budget & Tax Center, August 2017)

3.5 billion—amount in dollars less revenue that the state will have thanks to the tax changes made since 2013 (Ibid)

22,000—amount in dollars of the permanent annual tax cut for the top one percent of income earners in North Carolina from the tax changes made since 2013 (Ibid)

1 million—amount in dollars of the average income of the top one percent of income earners (Ibid)