Federal Budget in Pictures

Heritage Foundation

Hiking Taxes to Balance the Budget Would Require Doubling Tax Rates

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The costs of Medicare, Medicaid, and Social Security are rising substantially. Paying for this spending solely through federal income tax increases would require more than a two-fold increase of current tax rates, even for the lowest tax bracket.

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MARGINAL INCOME TAX RATES

Hiking Taxes to Balance the Budget Would Require Doubling Tax Rates

Source: Congressional Budget Office.