In the UK, given the tax system, this would mean increasing VAT (a nice regressive tax) and then, say, abolishing the 50 p additional tax rate on higher earners.

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If the economic problems of the middle class are employment-based, therefore, it is unlikely that the additional revenue generated by the tax rate increase will fix this problem, especially in the short term.

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Residents of New York City are currently subject to a maximum state rate of 8.82% and an additional city tax of 3.82%, for a combined tax rate exceeding 12.5%.

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If your adjusted gross income next year is lower than the threshold for the additional Medicare tax levels, your capital gains rate for 2013 might only be 20% (and it could even remain at 15%, depending on how the new rules end up after negotiations).

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But it would be better if I learned my marginal tax rate or MTR the percentage tax that I would pay on an additional dollar of income.

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Add it together and families in the 33% tax bracket could see their effective marginal rate paid on each additional dollar earned rise to above 38%.

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And Britain is also well ahead of the United States, where the current top rate of federal income tax is 35%, though additional state levies can add substantially more.

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The tax increases will not only include ending the social security tax break in place today and additional taxes associated with health care reform, but it will include ending the marginal tax rate reductions enacted during the Bush administration.

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