Nationwide, the average top marginal rate will rise from 41.8% to 47.8%. In New York, California and Hawaii, the top marginal income tax...
In response to:
And it won't be enough ... rates on average income Americans ... the middle class not the so called 1% will have to go to 68% or higher to pay for Obamatopia. The govt is going to hit the tax tipping point long before then ... the economy will move underground and reciepts will plumet (see Greece).
A new study out from economists at Lynchburg College calculates the effective top marginal tax rates on various forms of income. While most of the media focuses on the federal top marginal income tax rate, Professors Gerald Prante and Austin John have factored in all of the taxes both nationwide and in each individual state and found that the average rate across the country will approach 50% - surpassing it in three different states.
- New solution to border crisis: Send U.S. officials to Honduras to give kids refugee status? Allahpundit 14 hours ago
- Boehner accuses White House of sabotaging Veterans Affairs bill Noah Rothman 14 hours ago
- NFL suspends Ray Rice for two games in domestic-assault case Ed Morrissey 15 hours ago
- Great news from Hillary: The Russian reset worked Allahpundit 16 hours ago
- Thursday TEMS: Duane Patterson, Daniel Garza, Mike McFadden Ed Morrissey 16 hours ago
- FEC Chairman sounds alarm to Hot Air: There’s a ‘move afoot to constrict press freedoms’ Noah Rothman 16 hours ago