Louisiana has the second highest taxpayer burden in the nation, according to a new report out from Truth in Accounting, a Chicago-based think tank that analyzes government finances.
Louisiana’s tally is $17,400 — this is amount each taxpayer would have to pay in order for the state’s treasury to be debt-free.
When states are ranked regionally, Kentucky taxpayers owe more than anyone else in the Deep South, around $33,700. And Tennessee is the only state in the South with a taxpayer surplus, which is the amount available to pay state bills divided by the state’s taxpayers.
Neighboring states were ranked as follows:
— Alabama taxpayer burden: $14,000
— Mississippi taxpayer burden: $11,800
— Texas taxpayer burden: $7,700
— Arkansas taxpayer burden: $1,400
“Even though taxpayer burdens may seem immaterial at the moment, they have serious consequences,” said Sheila Weinberg, founder and CEO of TIA. “If the taxpayer burdens for the other states don’t decrease, taxpayers will suffer, whether it’s through higher interest rates, tax increases or fewer government programs.”