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Marginal tax rates in California for top earners (including the medicare surcharge) are already about equivalent to France. 37% fed + 13.3% CA + 1.45% Medicare
by hnmullany 6y ago
Marginal tax rates in California for top earners (including the medicare surcharge) are already about equivalent to France. 37% fed + 13.3% CA + 1.45% Medicare = 52%. Compared to France's 45% income + 7.5% social security taxes.
- shuckles 6y agoI’ve always observed that California has European tax rates on income. Is there a good understanding of why the outcomes are worse? I could imagine: - Ineffective spending - Lower taxes on wealth (i.e. non-income) - Higher taxes on consumption - Higher taxes in Europe on employers (i.e. non-personal income) - Higher taxes on capital income Do people have good resources to understand the relative source of discrepancy?