>What do you think is a reasonable effective income tax rate? (Please do not confuse effective and nominal tax rates!) In my view: "All in" should be about 50-55%. When I say "all in" I mean absolutely everything -- federal, state, local, national pension, national health (if applicable), yada yada yada.
Who is this for? The “rich” or for everyone else?
An effective rate of 50-55% is obscene. I would relocate for anything approaching 40%.
Who is this for? The “rich” or for everyone else?
An effective rate of 50-55% is obscene. I would relocate for anything approaching 40%.