{"id":3126,"date":"2011-05-28T17:35:34","date_gmt":"2011-05-28T17:35:34","guid":{"rendered":"https:\/\/tomfarandasfolly.com\/?p=3126"},"modified":"2025-09-28T23:27:35","modified_gmt":"2025-09-28T23:27:35","slug":"the-pending-62-maximum-tax","status":"publish","type":"post","link":"https:\/\/tomfarandasfolly.com\/?p=3126","title":{"rendered":"The pending 62% maximum tax rate"},"content":{"rendered":"<p>Some of my friends <span style=\"text-decoration: underline;\">love<\/span> this &#8230;<\/p>\n<p>And the math is quite straightforward, based on Administration proposals.<\/p>\n<p>The 62% rate is understated for NY State and even more understated for NY City residents. This is because the analysis assumes the average state income tax of 4%.&#0160;A New York City high earner will have&#0160;over a 66% marginal tax rate.&#0160;<\/p>\n<p><a href=\"http:\/\/online.wsj.com\/article\/SB10001424052702304066504576343611464445594.html\" target=\"_self\">Democrats have said they only intend to restore the tax rates that existed during the Clinton years. In reality they&#39;re proposing rates like those under President Carter.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some of my friends love this &#8230; And the math is quite straightforward, based on Administration proposals. The 62% rate is understated for NY State and even more understated for NY City residents. This is because the analysis assumes the average state income tax of 4%.&#0160;A New York City high earner will have&#0160;over a 66% [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3126","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/3126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3126"}],"version-history":[{"count":1,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/3126\/revisions"}],"predecessor-version":[{"id":8784,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/3126\/revisions\/8784"}],"wp:attachment":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}