USA

Not to forget about local taxes

Recently, the Alexandria, Ocasio-Cortez, Democrat of new York, and became a member of the house of representatives proposed to increase to 70% the maximum rate of tax on income exceeding, for example, $ 10 million.

However, when forecasting what will be the consequences of this step, an analyst at Brookings Institute Vanessa Williamson, author of Read My Lips: Why Americans Are Proud To Pay Taxes, called to consider the fact that the aggregate amount of taxes imposed at the level of cities and States, can sometimes exceed the amount paid by a Federal tax.

“For a person making 25 thousand dollars a year, is a significant problem that taxes make up about a fifth of this amount, she added. — Politically difficult to gain support through appeals to the most affluent paid more. But you must remember that they generally must also pay real estate taxes, dividends and other that do not apply to those who are less wealthy”.

Source:news.rusrek.com
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