Birdwatch Note Rating
2023-04-17 17:57:40 UTC - HELPFUL
Rated by Participant: E9E1216A6501D0FB775DDCC53BB8326334C827FDAED70C961503BE92846F4DC9
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Original Note:
If we assume the top federal tax bracket of 37% and apply the overall state and local tax rate for New York (at 15%), then you start creeping up to the 60% total tax. Consumption taxes (fuel, sales, etc.) add to the total tax burden, of course. Few pay the top MARGINAL rate. https://taxfoundation.org/tax-burden-by-state-2022/
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