tax rate

With all the talk about taxes and whether we should lower them, you'd think that the citizens and corporations of the United States face steep tax rates. You'd be wrong, though. When it comes to taxes, things are not as they appear.

High-income residents of New York City and Hawaii would have the highest marginal tax rates in the U.S. if Congress adopts the president's proposal to increase taxes for top earners, according to a study by the Tax Foundation. State, local and federal levies would result in a top 50.8 percent...

Sound bytes from politicians often promote class warfare... citing how evil "tax cuts for the wealthy" are and pressing for more tax relief for the lower and middle classes. Listening to them, you would think that the lower and middle classes are carrying a disproportionately high share of the tax...