I keep a weblog like it's still the 90s. For commentary and dissent please visit jontaylor.ca, or various other purveyors of thought online.

Wednesday, October 7, 2009

Greg Mankiw's Blog: A 70-percent Marginal Tax Rate

Greg Mankiw's Blog: A 70-percent Marginal Tax Rate: "im Capretta looks at the Baucus healthcare bill and concludes that, because the subsidies phase out as income rises, it imposes an effective marginal tax rate on income of about 30 percent for many families. Add that figure to the income tax, the payroll tax, and the phase-out of the EITC and 'the effective, implicit tax rate for workers between 100 and 200 percent of the federal poverty line would quickly approach 70 percent — not even counting food stamps and housing vouchers.'"

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