Top Tax Rate In NYC Would Be 61.2%, 59.7% In California Under House Dems' New Tax Plan


by ZeroHedge

ZeroHedge— Top Tax Rate In NYC Would Be 61.2%, 59.7% In California Under House Dems' New Tax Plan Update (1100ET): CNBC has just produced the first analysis of what the Dems' new tax proposal would do to the overall tax rate of the wealthiest class of taxpayers. Top earners in NYC would face a combined city, state and federal income tax rate of 61.2%. For the top marginal federal income tax rate - which is the rate that taxpayers pay on every dollar of earned income above the threshold -...

CNBC—Top earning New Yorkers could face 61.2% combined tax rate under House plan, Californians may face 59% rate. NEW YORKERS FACE 61.2% (Main headline, 2nd story, link) Related stories:DEMS TAX RATE HIGHER THAN COMMUNIST CHINA Drudge Report Feed needs your support!   Become a Patron

POLITICO—40-plus tax increases: A rundown of House Dems’ $2 trillion tax plan. Here are six things to know about the plan.

Mail Online—House Dems plot $2.9TRILLION tax raid targeting America's wealthiest to fund social spending plan. The plans are a major rollback of Donald Trump's tax cuts and will see the corporate rate hiked from 21 per cent to 26.5 per cent according to the draft proposal circulating among Democrats.