Alaska Ranks 49th In Overall Taxpayer Return on Investment
April 28, 2016
(SitNews) - There is an obvious disconnect in the minds of taxpayers between the amount of money we should fork over each April and what we ultimately deserve in return from our government. Tax Day can be a painful reminder of our investment in the operation of federal, state and local governments, but it’s difficult to discern their precise role in our day-to-day quality of life or overall pursuit of happiness.
Perhaps that’s why two out of five U.S. adults feel they pay too much in taxes, and why Americans estimate that slightly more than half of every tax dollar is wasted by the federal government - higher than the amounts they approximate state and local governments squander. One thing we do know is that taxpayer return on investment varies significantly based on simple geography. Federal income-tax rates are uniform across the nation, yet some states receive far more federal funding than others.
Tax season can be stressful for many Americans, especially those who still owe money to Uncle Sam at the end of it. Every year, the average U.S. household pays more than $5,700 in federal income taxes, according to the Bureau of Labor Statistics. And what do taypayers in Alaska and nationwide see in return for their tax investment?
To answer this question, WalletHub recently released its latest analysis of the U.S. tax landscape, an in-depth look at the states with the Best & Worst Taxpayer Return on Investment in 2016.
In order to determine which states yield the best and worst return on investment (ROI) for taxpayers, WalletHub’s analysts compared the 50 states across five key categories: 1) Education, 2) Health, 3) Safety, 4) Economy and 5) Infrastructure & Pollution — taking into account the drastically different rates at which citizens are taxed in each state.
Taxpayer Return on Investment in Alaska (1=Best, 25=Avg.):
Alaska 49th – Overall Return on Investment (ROI)
Alaska 49th – Total Taxes per Capita (Population Aged 18+)
Alaska 50th – Education
Public University System” Rank (Overall Score)
WalletHub “School Systems” Rank
Alaska 47th – Health
Number of Hospital Beds per 1,000 Residents
Public Hospital System
Average Life Expectancy at Birth (in years)
Infant Mortality Rate per 1,000 Live Births:
Average Health-Insurance Premium
Alaska 38th – Safety
Crime Rate per Capita
Fatalities per 100 Million Vehicle Miles Traveled
Incarceration Rate per 100,000 U.S. Residents Age 18 or Older
Alaska 18th – Economy
Median Annual Household Income (adjusted for cost of living)
Annual Rate of Job Growth (adjusted for population growth)
Percentage of Residents Below the Poverty Line
Alaska 5th – Infrastructure & Pollution
Quality of Roads & Bridges: Full Weight
Average Commute Time (in minutes)
Parks & Recreation Expenses per Capita
With 1 being the highest and 51 being the lowest, Alaska ranks 40th in dependency on monies from the federal government; however, Alaska is among the states receiving the most grants from federal taxes paid.
On the Web:
Read the full report -- 2016’s States with the Best & Worst Taxpayer Return on Investment
Data used to create these rankings were collected from the U.S. Census Bureau, Bureau of Labor Statistics, the National Center for Education Statistics, the National Highway Traffic Safety Administration, the Centers for Medicare & Medicaid Services, the Manhattan Institute, the Centers for Disease Control and Prevention, Missouri Economic Research & Information Center, The Equality of Opportunity Project, the Federal Bureau of Investigation, TRIP, America's Health Rankings, Annie E. Casey Foundation, Measure of America and WalletHub research.
Edited by Mary Kauffman, SitNews
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