Despite improvement, Delaware’s 2018 taxpayer burden still gets an F
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Despite improvement, Delaware’s 2018 taxpayer burden still gets an F

From The News Journal

Most people have budgets to manage their money, pay their bills and save what is left.

Spending more money than you bring in can cause problems, and that’s why the Chicago-based think tank Truth in Accounting analyzes every state’s expenses and how much revenue they bring in.

Delaware is one of nine states to receive a grade F for its taxpayer burden. Those nine states would need additional money from taxpayers to pay off its bills.

Delaware would need an additional $27,100 per taxpayer to fully pay its bills each year, according to 2018 data released by TIA.

The taxpayer burden lowered to -$27,100 in 2018 from -$30,400 the year before. TIA calculated taxpayer burden by the state’s bills divided by the number of taxpayers.

“Though it got better,” said Sheila Weinberg, founder and CEO at TIA, “Delaware is more of an outlier because they don’t put enough money towards retirees’ health care liability and pension liability.”

Weinberg says Delaware saves 3 cents for every dollar for retirees’ health care liability. The only worst state is New York at 1 cent.

Read more:

https://www.delawareonline.com/story/news/politics/2019/09/30/despite-improvement-delawares-2018-taxpayer-burden-still-gets-f/2370396001/