On average, the METR for modest-income families is 46 per cent compared to 43 per cent for the highest-income families.
marginal tax rate
Since its inception, the U.S. federal minimum wage has never been reduced.
Making various benefits tax-free gives an advantage to rich people, too.
Low-income individuals and families facing high METRs would benefit from lower claw-back rates.
Ontario increased its top rate to 20.53 per cent.
Ontarians are on the hook for approximately 40 per cent of the federal government’s net debt.
In Ontario, the combined provincial/federal top marginal income tax rate is 53.5 per cent.