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

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 -...


In related news