Writing from NYC we get some woman complaining about how low taxes are in the US. My response there.
Yes, the federal income tax rate is 35%. Add the NY State income tax of 8% and the NY City rate of 4% and you\’re at 47%.
This isn\’t a low income tax rate by anyone\’s standards.
It puts NYC in the top 10 (ish, there\’s a lot of countries on joint 5th at 50%) of 90 odd countries for marginal personal income tax rates.
All of which means is that it\’s not the taxation system which is your problem. It\’s the structural side, the way you spend the money which is. The way you spend the money some of the highest income taxes in the world get you The Bronx. Or Brooklyn.
You need to be looking at the other side of the ledger.