Post #3455 by OrmontUS on the Macroeconomic Trends and Risks board

Personal Finance Topics / Macroeconomic Trends and Risks

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Actually, WendyBG was correct - I was not aware of that nuance.

That said, for the same order of magnitude of income (though, admittedly, this year was all investment/interest and significant capital gains) and assuming NYS/NYC tax stayed the same (if anything, it would have increased), in 1984, my net effective income tax rate for combined federal, state and city tax was about 46%. This year it was 33% (Fed:24%, local:9%). Still an ugly number, but significantly lower than it used to be.

Jeff

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