Want to See Your Marginal Tax Rate if Health Care Surtax Passes?

Want to See Your Marginal Tax Rate if Health Care Surtax Passes?

It almost seems inevitable at this point in our history that marginal tax rates will increase. ┬áNow, they (read: government) wants to start charging a surtax? I am not sure why it is called a surtax rather than just calling it what it is – an increase of your income taxes.

The Tax Foundation is a phenomenal website that offers both opinion blog posts, and research projects condensed into smaller blog posts. Last week they had an amazing picture, which highlight the top marginal rates across the country (taking into account State marginal income tax rates) if the surtax was enacted as proposed by the House (the picture has a lot of detail you may need to click it to zoom in):

health_surtax_display

Look at all that Yellow! Over half the states will have a 50%+ marginal tax!

Map Provided by the Tax Foundation.

7 Responses to Want to See Your Marginal Tax Rate if Health Care Surtax Passes?

  1. Wow, scary Evan!! 57% marginal tax rate in California? Is this Federal Only, or Federal + state? I’m assuming the later right, b/c the surtax adds 5% + 40% for the new marginal tax rate in 2012, + 10% California tax = 55%ish yeah?

    Gotta move to Washington or Nevada as soon as possible, or defer all income to a far away land.

  2. FS,

    These numbers are for both federal and state. It is pretty scary stuff out there right now, and instead of cleaning up spending the gov’ts just keep on taxing.

  3. The more those people in the top tax bracket get penalized via higher taxes then soon enough it will be time for you to break out that tiny violin for everyone else who currently relies on those top tax bracket people to provide jobs for them…

  4. With 10 being agree fully with the trickle down argument you can sign me up for being somewhere in the 9's.

    My thoughts in a nutshell, more money visa vie lower taxes to those with higher incomes and they tend to invest more and hire more people i.e. directly and indirectly create wealth.

    Contrast this to more money visa vie lower taxes to those with lower incomes and they tend to use their refund check to buy a new flat screen TV i.e. certainly good for the economy to some degree but they just consume the money rather than use it to create wealth.

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