According to the Editors of The Wall Street Journal, the dirty little secret that progressive states are trying to hide is that not only do they tax the wealthy more, but they also tax the middle class more. The Editors write:
Maine and Rhode Island are poised to join them since their Democratic Governors recently endorsed surcharges on millionaires that would raise their top tax rates to 9.15% and 8.99%, respectively. The problem that Democratic-run states are running into is there aren’t enough rich to fund their promises to public unions and inexorable spending appetites.
Democrats then invariably dig into the pockets of the middle class and small businesses. Minnesota’s 9.85% rate hits at $203,150, and Vermont’s 8.75% at $249,700. New York City residents pay a 9.9% marginal rate on income over $80,650, and 10.7% above $215,400. Individuals who make more than $225,000 in Hawaii pay a 9% marginal rate.
California’s 9.3% tax bracket starts at $72,724, which is less than the median income in the state for a single earner ($76,190). A worker earning $90,000 could save $4,264 in income tax a year by moving to Nevada or Texas, or $2,408 by relocating to Arizona (flat 2.5% tax).
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