Tax Policy in Florida - Tax Policy in Florida Taxes lower...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Tax Policy in Florida Taxes lower than average, but dollar amount rising until 2007 Measure levels: Per capita - total state & local/population. Almost 3k per person, ranked 32 nd in country. State pay 2k per person, 35 th in country Tax burden - state & local/personal income. Based on wealth. Pay 9.4 cents per dollar. Ranked 44 th in country. Tax burden is down from 1980s. -Revenue growth going up from 2000-2004. Taxes seem to be growing faster than income -Public opinion trade off: 70% want to maintain services and 20% say reduce taxes Revenue Structure Total revenue- taxes that state collects (57%) and federal money that comes in (34%) every year (all funds budget) General revenue- money that Florida raises State general sales tax- almost 75%. 6% statewide base rate; there are exemptions for groceries, housing, hospitals, prescriptions Not as regressive (poor people pay higher % of income to taxes, wealthy pay lower %) Traditionally sales taxes are regressive because wealthier families don’t spend all their money, they save and invest;
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern