Monday, May 23, 2011

“Obama Wants a Top Tax Rate of 44.8%”

Props to Representative Paul Ryan for pointing out that the effective top tax rate on income could climb significantly higher than 39.6%. Ryans's inclusion of payroll taxes in his calculations can be questioned, but you can't argue with the rate-raising effect of phasing out exemptions and deductions.

He's earned Glenn Kessler's Rare Geppetto.

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