Advisers sound alarm regarding state tax increases

04/19/2010 | InvestmentNews (free registration)

Taxpayers are concerned about the federal government's plan to increase taxes, but tax experts are looking at state governments, which are "scrambling" to raise money. Mark Robyn, staff economist at nonpartisan research group Tax Foundation, said top earners could be paying a rate of more than 50% when combined with the federal rate. The tax increases have prompted financial advisers to aim to mitigate their effects.

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