July 26, 2010

Marginal Tax Rates Must Nearly Double to Fund Entitlement Spending

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This chart by Mercatus Center Senior Research Fellow Veronique de Rugy uses data from the Congressional Budget Office to illustrate the change in federal income tax rates that would be required to pay for federal entitlement spending.  Even for the lowest tax bracket, taxes would have to more than double to pay for current Medicare, Medicaid and Social Security spending.

Veronique de Rugy discusses these long-term fiscal challenges before the National Commission on Fiscal Responsibility and Reform.