Sunday, November 21, 2021

Biden's $1.75trillion Build Back Better plan would give the US the highest average top personal income tax in the developed world, new research states

The Daily Mail reports:
If President Biden's Build Back Better agenda passes the Senate in its current form, the US would have the highest top income tax in the developed world. The average top tax rate would reach 57.4 percent, and the top rate would breach 50 percent in all 50 states. The top marginal tax rate at the federal level would be 51.4 percent. Most states also deduct an income tax, the average being 6.0 percent, which would bring the top rate to 57.4 percent.
Creeping socialism in America.