From the article: Currently the country with the highest marginal income tax rate is Denmark, at 60.5%. The top US federal tax rate is 37%, and the median stat

From the article: Currently the country with the highest marginal income tax rate is Denmark, at 60.5%. The top US federal tax rate is 37%, and the median state income tax rate is Oklahoma's, which is 4.75%. So in the median case, a state adding an additional 20% in income tax would have a total marginal tax rate of 37% + 4.75% + 20%, or 61.75%. [3] In the median case, US state politicians talking about adding a "mere 1%" wealth tax are talking about causing the residents of their state to have the highest taxes in the world. That's not the sort of decision you make lightly. It should be noted that the marginal tax rate for high earners in the USA was higher than 60% from the 1930s through the 1970s. Chart here: https://www.hrblock.com/tax-center/newsroom/income/the-history-of-income-tax/ https://www.hrblock.com/tax-center/newsroom/income/the-histo...