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Including employer payroll tax lowers California top rate to 62.8 percent, Kyle Pomerleau notes

Including employer payroll tax lowers California top rate to 62.8 percent, Kyle Pomerleau notes
Payroll tax approach lowers state top rate

Kyle Pomerleau clarifies that a portion of the payroll tax is levied on employers and should be included in both the numerator and denominator when calculating marginal tax rates.

He states that this adjustment results in California's top marginal tax rate being 62.8 percent rather than the previously stated 67.6 percent.

Pomerleau has previously questioned the connection between automation research and proposals for a one-time wealth tax. In another analysis, he noted that tariffs tend to lower overall GDP and income, despite some sector-specific gains. His comments on tax policy continue a series of critiques on fiscal measures.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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