Quote:
Originally Posted by ValKehl
David, it is my understanding that the current, top federal income tax rate is 37% - for an individual taxpayer, this rate applies to taxable income in excess of $510,300: https://www.quickenloans.com/blog/fe...e-tax-brackets So, even with the addition of a state income tax (for those states that have income taxes), very few, if any, folks are going to pay 50%. |
Estate tax. I used the word heirs.
Not income tax.
In terms of income tax a guy like Bieber would pay 50% if he lives in CA, NY or any high state income tax state.