It almost seems inevitable at this point in our history that marginal tax rates will increase. Now, 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):
Look at all that Yellow! Over half the states will have a 50%+ marginal tax!
Map Provided by the Tax Foundation.
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