Scott Hodge
Scott Hodge
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If you were to look at Alaska simply with its corporate tax code compared to the rest of the United States, it would rank very poorly because it's a very complicated corporate tax system, very high tax rates, but that is offset and balanced by the fact that Alaska does not have a personal income tax and does not have a sales tax.
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In fact, for Illinois to have equaled New Mexico's sweet deal -- $2 back for every $1 it paid in federal taxes -- Washington would have to funnel 20 percent of all federally appropriated dollars to Illinois, an impossible amount. The only hope for rapid improvement in Illinois' ratio would be a fundamental tax reform that flattened federal income tax rates.