Delaware Business Now newsletter readers, by a landslide margin, don’t want to see a higher state income tax bracket for those making more than $100,000 a year. The current top rate is 6.6% and kicks in at $60,000 a year.
With inflation and typically small pay increases seen in recent years, a sizable percentage of the state’s families and individuals pay the top rate. A recent ranking showed Delaware ranking 13th in the nation in the percentage of income paid out in state and federal income taxes.
Legislation calling for the new top tax bracket was filed this year. It followed a long-running unsuccessful effort by retired State Rep. John Kowalko to add a more aggressive set of higher tax brackets.
Our survey, launched during Memorial Day weekend, first showed readers evenly divided on the subject. However, the margin turned lopsided as the days went on.
Comments on the tax bracket largely opposed the change, although there seemed to be signs that some voting no might favor a higher top bracket for those making $200,000 to $400,000 a year.
Below is a sampling of comments:
No – How are they going to attract high paying industry?
No – Delaware taxes are already high!
Yes -The general fund will undergo stress due to reduction of federal funding. Is this an attempt to slow down the flood of tax refugees from NJ?
Not sure – I would prefer a higher threshold for the new top bracket.
No -State is awash in money, legislators need to spend the money like it is their own !!
Yes – They can afford it
No – Stop taxing the middle class
No – Delaware is becoming as bad as NY, NJ, California. It is embarrassing
No – Higher tax rate should begin at a higher income such as $400,000.
Yes – Add more! This state punishes the lower classes on taxes and needs more revenue.
No – An additional tax over 250k would be better.
No – Given the economic situation now & inflation at its highest level in years, any politician supporting this is out of touch with the general public.
Yes – An extra 3 bucks in tax for every $1,000 you earn over $100K. Less than the price of a cup of coffee. Easily affordable for anyone at that income level.
Enjoy your weekend. If you need to catch up on the week’s business news, check out our Week in Review on Saturday. – Doug Rainey, chief content officer.
