Tax Rates Under Bernie

Vox: The chart, by Vox’s Javier Zarracina, shows Dylan Matthew’s estimates of how Bernie Sanders would change marginal tax rates on wages, both from payroll taxes and from income taxes.

Note that the Y axis does not increase linearly

“Most taxpayers would see a single-digit increase in their marginal tax rate. People with taxable income below $250,000 would see an 8.8 percentage point increase.”

“But the very rich would see eye-popping increases in marginal rates: from 36.8 percent to 62 percent for people with taxable income between $250,000 and $413,350. The big change here is applying the Social Security payroll tax, which adds another 12.4 points.”

“Even more dramatic are Sanders’s proposed increases to capital gains taxes … Bernie would hike the top rate to 64.2 percent and the rate for many making upper six figures to 49.2 percent.”

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