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Wednesday, April 3, 2013

CNN: Top Income Tax Rates: How the U.S. Really Compares

CNNCNN, Top Income Tax Rate: How U.S. Really Compares:

It's a common complaint among some wealthy Americans: My taxes are too damn high.

But they might feel a little better if they considered Denmark.

Or the United Kingdom.

Or Austria.

Or many other economies where the top income tax rate -- factoring in both the national and local tax bite -- is higher than the highest combined rate in the United States and also hits people lower down the income scale.

At 60.2%, Denmark last year had the highest top personal income tax rate among the 34 countries in the OECD, an organization of developed and emerging countries. And that 60.2% applied to income over roughly $55,000. That's a bigger bite than wealthy Californians face on their paychecks and other earned income.

When top rate kicks in

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