the staff of the Ridgewood blog
With Tax Day looming and 74% of people disapproving of how the government has used tax dollars during the COVID-19 pandemic, WalletHub today released its 2021 Taxpayer Survey, as well as its yearly report on the States with the Highest & Lowest Tax Rates (accompanying videos included) in order to help people better understand this confusing time of year. You can find highlights from both below, followed by the full list of WalletHub’s 2021 taxpayer resources.
Tax Rates in New Jersey (1=Lowest; 25=Avg.):
42nd – Overall Effective State & Local Tax Rate
10th – Income Tax
51st – Real-Estate Tax
1st – Vehicle Property Tax
7th – Sales & Excise Taxes
2021 Taxpayer Survey
74% of people say the government has not handled their tax dollars wisely during the COVID-19 pandemic.
30% of people say making a math mistake is their biggest Tax Day fear, edging out not having enough money (29%) and identity theft (21%) at the top of the list.
38% of people would move to a different country for a tax-free future. 27% would get an “IRS” tattoo and 19% would stop talking for 6 months.
32% of people think charities would make the best use of their tax dollars, outnumbering by nearly 2.5 times people who trust the federal government the most with their taxes.
222 million Americans think the government does not spend taxes wisely.
