Business, Management and Accounting
3 years ago

Biden's Tax Increases Could Drive Wealthy Residents to Flee High-Tax States

1 view
SSRN Electronic Journal
Biden’s Proposed Tax Increases in Simple and Multivariate Charts
Libin Zhang

Paper Summary

The article discusses President Biden's proposed tax increases, which could lead to high marginal income tax rates for individuals and corporations. The goal is to show potential outcomes of these tax increases using charts and figures. The key findings include potential marginal tax rates of over 65% for individuals in New York City, over 75% for corporations in the city, and over 80% for some estates. The article does not cover other tax reforms like SHIELD or SWORD.

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