Top marginal tax rate in US now ~65%

[giblets]

His fear is they're all going to go Galt now.

[KrazyHorse]

The US tax and benefit system is ****ing hysterical. It raises and redistributes relatively little money, and does so by creating high implicit marginal tax rates at the top and bottom of the income distribution where elasticity of labor supply is likely highest.

[Al B. Sure!]

You can always trust brainless partisans like fun to miss the point.

The US welfare state is doomed when children like yourself refuse to acknowledge simple mathematics and focus on political theater.

Bread and circuses! Kimye's baby! Honey Boo Boo! This is Obamerica!

Hate it or leave it

[KrazyHorse]

Fun and his ilk care far more about hurting people they're jealous of than they do about helping the poor. I figure that the fantasy of middle class entitlements to be paid for by the very rich should last another 20 years or so in the US.

[KrazyHorse]

You can always trust brainless partisans like fun to miss the point.

The US welfare state is doomed when children like yourself refuse to acknowledge simple mathematics and focus on political theater.

[MrFun]

WAAAAH!! The wealthy are being made to pay taxes! WAAAH!!

[KrazyHorse]

I should sympathize with those people because ......?

Who asked you to sympathize with them?

[KrazyHorse]

Are you an idiot? I'm well aware of where that income stands relative to most. How does a factual statement about changes to the tax code and implicit statements about the effect this has on incentives make me out of touch, you goddamn failed excuse for a grownup?

[MrFun]

For a married couple living in NYC earning about 360k a year agi

The whole range from 300k to 400k is above 60%

Based on 33-35% federal marginal rates, 10% state+local, 3.8% medicare tax, and phaseouts for personal exemptions and itemized deductions. Could be even higher if they have a mortgage.

I should sympathize with those people because ......?

[Al B. Sure!]

Married couple making $360K... can you be any more out of touch? That's 10 times the median household income in Philadelphia.

[DaShi]

Good job then. If more rich people move to Connecticut maybe it will be a nicer state.

[KrazyHorse]

My MTR is much more modest, close to 45%.

[KrazyHorse]

I already voted with my feet out of nyc. That decision alone pays my rent.

[DaShi]

True, KH can just vote with his feet.

[Krill]

Obligatory "Go back to Canada, you lazy, job stealing, penny pinching immigrant" comment.