Tax Burden Equal to 70% Rate Crushes Americans Unable to Pay

Laveta Brigham

Photographer: Ty Wright/Bloomberg Photographer: Ty Wright/Bloomberg Millions of low-income Americans are locked into poverty thanks to U.S. tax policy, Federal Reserve Bank of Atlanta researchers say. About a quarter of lower-income workers effectively face marginal tax rates of more than 70% when adjusted for the loss of government benefits, a […]

Tax Burden Equal to 70% Rate Crushes Americans Unable to Pay It

Laveta Brigham

Photographer: Ty Wright/Bloomberg Photographer: Ty Wright/Bloomberg Millions of low-income Americans are locked into poverty thanks to U.S. tax policy, Federal Reserve Bank of Atlanta researchers say. About a quarter of lower-income workers effectively face marginal tax rates of more than 70% when adjusted for the loss of government benefits, a […]