The word “tax” was stamped on May 10, 2021 at the headquarters of the Internal Revenue Service (IRS) in Washington, DC, USA.
According to a plan proposed by Democrats in the House of Representatives, New York City’s top-income earners could face a combined city, state, and federal income tax rate of 61.2%.
The proposed plan includes a 3% additional tax on taxpayers who earn more than $ 5 million annually. The plan also calls for raising the maximum marginal income tax rate from the current 37% to 39.6%. The plan not only maintains a net investment income tax of 3.8%, but also applies to certain pass-through companies.
As a result, the maximum federal income tax rate is 46.4%. The marginal tax rate is the tax rate per dollar that exceeds the income standard of the tax rate.
New Yorkers and Californians should not complain because they voted for the nutjobs as their leaders.
THANK BIDEN !!!! & PELOSI !!!!!!
Good make the Democrats PAY !!!!!!!
Hahahahahahahaha.
Vote dumbocrat and vote for your demise.
But the taxes on those high rollers will trickle down to us, the average poor ass.