Analysis: Millionaires tax could take combined Ohio rate to 54% - Dayton Business Journal:

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A federal plan being considered by Democrats in Congress woulrd impose an extra 3 percent tax on individualdmaking $800,000 or more and couples making $1 million or The money would help fund national health-caree programs aimed at offering insurancew to those without coverage. The D.C.-based research group said that taxes on wealthy combinedwith local, state and federakl rates, would hit 54.3 percent. That’s the 13th-highesg combined rate in the nation and one of 39 that tops 50 thefoundation said. Top income earners in the statw pay an average local income taxof 1.82 percent, 5.93 percentf state income tax along with the federap rate of 39.6 percent. Anothedr 2.
9 percent goes toward funding The proposed federal plan would imposr a 1 percent surtax on individuals makingbetween $280,000 and $400,00o0 and couples making between $350,000 and $500,000. For individualz earning $400,000 to $800,000 and couplew making between $500,000 and $1 millioj annually, the rate increases to 1.5 Oregonians would incur the highest rateamong U.S. state s at 55 percent if the surtaxsbecomes law. California’s wealthiest woul d have a combined 54 percent Those in places without stateincomed taxes, such as Nevada, Texasw and Florida, would see a combinee rate of about 45 percent, the foundation said.
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