September 16, 2021

NEW PLAN WOULD PUSH TOP TAX RATE TO ALMOST 60 PERCENT IN THESE 4 STATES:

“For New Yorkers earning more than $5 million, the combined city, state and federal tax rate would skyrocket to 61.2% under the House plan,” Fox Business reports. “The combined rate in California, meanwhile, would spike to 59.7%, while the wealthiest individuals living in New Jersey could pay a rate as high as 57.2%. In Hawaii, the combined marginal rate would be an estimated 57.4%.”

That’s right: High-earning residents of these states could end up paying nearly 60 percent tax rates on their income earned above a certain level. That’s an obscene and fundamentally unfair level of taxation. But such punitive levels of taxation are also highly impractical and certain to have adverse economic consequences.

Voters in these blue states knew what would happen when they punched the card for Biden: Biden calls paying higher taxes a patriotic act.

And this was uttered by a 2008-era pre-trunalimunumaprzure Biden.

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