Biden’s ‘Build Back Better’ Will Give US Highest Top Tax Rate of Any Country in the OECD
Senile old Joe Biden wants to raise taxes on Americans to the highest top rate in the world. This is not what Americans want.
The Tax Foundation released this sad news on Friday.
Under the latest iteration of the House Build Back Better Act (BBBA), the average top tax rate on personal income would reach 57.4 percent, giving the U.S. the highest rate in the Organisation for Economic Co-operation and Development (OECD).
High-income taxpayers would face a surcharge on modified adjusted gross income (MAGI), defined as adjusted gross income less investment interest expense. The surcharge would equal 5 percent on MAGI in excess of $10 million plus 3 percent on MAGI above $25 million,
