WalletHub: Tennessee has 6th-lowest tax rate in the nation

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Personal finance social network WalletHub.com released a report that ranked Tennessee as having the sixth-lowest tax rate in the nation. 

WalletHub’s analysts compared the 50 states and the District of Columbia against national medians across four types of taxation: real estate tax, vehicle property tax, income tax, and sales and excise tax.

It calculated relative income tax obligations by applying the effective income tax rates in each state and locality to the average American’s income. 

WalletHub also surveyed 500 residents across the nation, asking a series of questions related to taxes.

When asked what people would do for a tax-free future, 20 percent would get an IRS tattoo, 16 percent would move abroad, and 10 percent would stop talking for six months.

When asked who they would most like to punch, respondents overwhelmingly said Donald Trump, with the answer “a congressman” coming in second. 

Additionally, 65 percent of those surveyed said that Trump’s tax reforms would not save them money.

And many people would rather do just about anything than their taxes-40 percent would rather change dirty diapers. 

Click here to read all the survey questions and responses. Click here to read the full report.

Eric Wise is a contributing writer. He is currently attending UTC, where he is a staff writer for the school newspaper, The University Echo. He also serves as the alumni relations chairman for his fraternity.