Analyzing the tax rebates

During the recently-completed special session, the New Mexico Legislature passed a tax “rebate” program. As has been discussed here and elsewhere, the “rebates” weren’t so much designed to give money back to taxpayers, but to redistribute money from those who paid taxes to those who do not.
The following information underscores just who pays and does not pay taxes. Remember that rebates are only being given to those who make less than $70,000 annually.
What is the number of returns in each bracket? What is the percentage breakdown in each of those ranges of returns with payments?

Thus, those who pay 75% or New Mexico’s income taxes get nothing while large numbers of taxpayers who paid no taxes get the largest checks from the state. Not much of a “rebate” was it.
HT: Matt Kennicott

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