Tax Rate Hike Would Impose 48.4% Small Business Tax Rate vs. Communist China's 25% - Americans for Tax Reform

Tax Rate Hike Would Impose 48.4% Small Business Tax Rate vs. Communist China's 25% - Americans for Tax Reform

Combined federal-state tax burden would average 48.4%, nearly twice as high as China‘s maximum business tax rate A proposal to hike the top federal tax rate to 39.6% would saddle American small businesses with an average combined federal-state tax rate of 48.4%, much higher than communist China’s maximum business tax rate of 25%. The proposed 39.6% rate plus the 3.8% Obamacare surtax plus the average state tax rate of 5% amounts to 48.4%. It is …