Some things are sure in life, death and taxes.
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It’s easy to think of our tax system as consisting solely of federal income tax rates. There, the top marginal tax rate is 39.5% which, when we compare it to other tax rates around the world, seems low. When taking into account the entirety of our tax system, a more dangerous picture emerges.
Kyle Pomerleau of the Tax Foundation writes that there are three states in which the highest-bracket taxpayers will face tax rates over 50%: