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Study: 50% Tax Rates Coming for California and New York

Marc_H Wrote: Dec 06, 2012 12:59 PM
the democrats elected Sauron as POTUS and blame us for the problems..... it was not repubilcan ideas that turned Detroit, New York, and California into a wastelands
Mark442 Wrote: Dec 06, 2012 1:03 PM
It's allways democrat states that are all screwed up and broke. Then they all flee to places like Texas.
I think they need to stay there and fix the mess they voted for.
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.

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...