Yesterday we noted that the U.S. has the second-highest corporate tax rate in the world. Currently, Americans’ personal income tax burden is not nearly as bad, but under Sen. Barack Obama’s tax plan, it would be. Combining Obama’s promise to end the Bush tax cuts with his promise to uncap the Social Security payroll tax for those making more than $250,000, the Tax Policy Center notes that Obama would create a top marginal rate of almost 60 percent. The top rate would exceed two-thirds and could even approach 70 percent for citizens …
