Working for the Man

Ted Frank updates his analyses of Obama’s tax plans. Money quote:

My colleagues Alex Brill and Alan Viard have calculated the marginal tax rates under Obama’s various promises of phased-out credits, and find that he will raise effective marginal federal income tax rates to as high as 45%—which is well over 60% for people living in high-tax states like New York or California or the District of Columbia. (Even people making $45,000 will face a marginal income tax rate of 39%, which is 51.4% including social security taxes.)

Sixty percent!?!

Posted on Monday, August 18 2008 | Permalink

That is even worse than what my wife spends!

Posted by  on  08/18  at  10:59 PM

"people living in high-tax states like New York or California”

Isn’t that a problem to address at the state level?

Posted by  on  08/19  at  10:29 AM

Out of the millions of tax payers the two or three that could really be impacted in this manner are really representative.

Did Brill and/or Viard work for the Bush administration and use the same type of “representative” examples to demonstrate how the Bush tax cut benefited the poor. I know the Bush people did it, the question is were these two part of the Bush team that developed this phony analysis.

Posted by  on  08/19  at  11:54 AM
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