The 1990 budget deal raised the top income tax rate to 31 percent.
Higher income tax rates are not the way to do it.
Most Americans would pay a top ordinary income tax rate of 35%.
Whether it would also raise the top income tax rate is not certain.
It also has a top income tax rate of just 18.9 percent.
The top individual income tax rate remained at 63 percent.
That would keep the top income tax rate at 4.46 percent.
Legal persons income tax rate is 21% in the year 2012.
The country already has a low corporate income tax rate of 12.5 percent.
The House bill would reduce all income tax rates over the next five years.
The 1990 budget deal raised the top income tax rate to 31 percent.
Higher income tax rates are not the way to do it.
Most Americans would pay a top ordinary income tax rate of 35%.
Whether it would also raise the top income tax rate is not certain.
It also has a top income tax rate of just 18.9 percent.
The top individual income tax rate remained at 63 percent.
That would keep the top income tax rate at 4.46 percent.
Legal persons income tax rate is 21% in the year 2012.
The country already has a low corporate income tax rate of 12.5 percent.
The House bill would reduce all income tax rates over the next five years.