The Tax Cut that Wasn’t

Effective rate chart
At a state income tax rate of 10%, the effective federal rate went up from 35.6% to 37%.

You may have assumed the tax law that took effect last year was a boon to people with ultra-high earnings. Yet many of them received only a small reduction in their tax rate — and some will be paying more under the new law.

details: Tax Reform’s Wealthy Losers