Hlib Chabaniuk

Effective tax rate can be as high as 63 percent, Marc Goldwein notes

Effective tax rate can be as high as 63 percent, Marc Goldwein notes
Marginal tax rate could reach 63 percent

Marc Goldwein addresses the calculation of effective marginal tax rates, observing that the true rate may be as high as 63 percent when accounting for employer-side payroll taxes.

He further suggests that if an individual receives the full SALT deduction, particularly through a workaround, the effective rate would decrease to around 55 percent.

Goldwein has previously raised concerns about the complexity of the U.S. tax code and the presence of tax loopholes some taxpayers exploit. In a separate analysis, he observed that both the PCE and CPI indexes recorded 3.8 percent inflation over the past year. His recent comments on effective marginal tax rates add to ongoing discussions of taxation and economic policy.

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