Careers

Terry Savage: What to know for Medicare open enrollment

By Terry Savage

September 25, 2026 at 5:15 p.m.

Here’s a look at the headline changes seniors will be forced to confront. And in...

Terry Savage: Why the national debt should concern us

By Terry Savage

September 21, 2026 at 11:15 a.m.

The U.S. national debt now exceeds $40 trillion — a MEGO number, which stands for...

Terry Savage: Login process changing at TreasuryDirect

By Terry Savage

September 21, 2026 at 9:55 a.m.

These government IOUs are the safest repository for “chicken money” — money you cannot afford...

Terry Savage: Attend to these year-end financial matters

By Terry Savage

April 20, 2022 at 1:10 p.m.

As we approach year-end, countless articles will mull over the events that defined 2021. Hot...

Weirdest superstitions people believe will bring wealth

By Hristina Byrnes

December 3, 2021 at 2:20 p.m.

Weirdest superstitions people believe will bring wealth | People have been engaging in strange superstitions...

<p>Following the tax cuts of 2017, the wealthiest Americans saw their top marginal federal income tax rate fall to 37% from the 39.6% they had been paying since 2013.</p><p>How does that top-tier rate of taxable annual income compare to the rest of the world?</p><p>That's not an easy question to answer because each country's national tax code has different types of deductions and credits, not to mention different treatments for income from capital gains.</p><p>But comparing the top rate of taxable annual income offers some insight into how countries view their wealthiest households as a source of public revenue. (<a href="https://247wallst.com/special-report/2021/08/08/countries-with-the-widest-gaps-between-rich-and-poor-4/?utm_source=tribune&utm_medium=referral&utm_campaign=tribune&utm_content=countries-with-the-widest-gaps-between-rich-and-poor-4&wsrlui=89971761">These are the countries with the widest gaps between rich and poor.</a>)</p><p>Some countries charge an additional surtax on their richest taxpayers, sometimes referred to as a "solidarity" charge or contribution, as it is called in Greece and Portugal. Germany tags an extra fee on its wealthiest to fund regional development. Japan has a surtax to help rebuild from the 2011 Fukushima nuclear disaster. Some of the countries charging the highest income tax rate are among <a href="https://247wallst.com/special-report/2021/07/15/richest-countries-in-the-world-3/?utm_source=tribune&utm_medium=referral&utm_campaign=tribune&utm_content=richest-countries-in-the-world-3&wsrlui=89971762">the richest countries in the world</a>.</p><p>To identify the 25 countries with the highest personal income tax rate in 2021, 24/7 Wall St. used multinational accounting firm <a href="https://home.kpmg/xx/en/home/services/tax/tax-tools-and-resources/tax-rates-online/individual-income-tax-rates-table.html">KPMG </a>data for 142 countries. Countries are ranked by the highest marginal tax rate, that is, the highest rate applied (from a certain income threshold).</p><p>The United States ranks 41st out of 140 countries based on the highest marginal national income tax rate, according to KPMG. This puts the highest annual income tax rate on America's wealthiest between Norway's and Mexico's, but considerably lower than some of the highest rates in the world's other leading economies, including the U.K., France, Germany, Japan, and China. (<a href="https://247wallst.com/special-report/2021/05/21/states-collecting-the-most-income-tax-per-person/?utm_source=tribune&utm_medium=referral&utm_campaign=tribune&utm_content=states-collecting-the-most-income-tax-per-person&wsrlui=89971763">These are the U.S. states collecting the most income tax per person.</a>)</p><p>It's important to recognize that these rates are marginal, meaning the highest taxable income rate only applies to money earned above a threshold. In 2021, that 37% top income tax rate in the United States applied only to<a href="https://www.google.com/url?q=https://www.google.com/url?q%3Dhttps://taxfoundation.org/historical-income-tax-rates-brackets/%26amp;sa%3DD%26amp;source%3Deditors%26amp;ust%3D1637357199525000%26amp;usg%3DAOvVaw0hW6nEYxj9Y3yHOestF6Jc&sa=D&source=docs&ust=1637357199550000&usg=AOvVaw2QRi-54J5_1hIbJthVDpNZ"> </a>annual taxable income above $628,301 for a married couple filing jointly and above $523,600 for single filers.</p>

Countries where the rich are taxed the most

By Angelo Young

November 29, 2021 at 11:45 a.m.

Following the tax cuts of 2017, the wealthiest Americans saw their top marginal federal income...

Terry Savage: Grownup gifts with a finance theme

By Terry Savage

April 20, 2022 at 1:04 p.m.

In last week's column, I provided some holiday gifting ideas for children, ranging from 529...

Terry Savage: Holiday gifts with lasting financial impact

By Terry Savage

April 20, 2022 at 1:10 p.m.

My annual holiday money gift column for children and young adults arrives just at the...

The best and worst states for millennials | 24/7 Tempo has developed a list of the best and worst states for millennials, using data compiled by the credit reporting and advice site WalletHub. WalletHub compared states across five key dimensions: affordability; education and health; quality of life; economic health; and civic engagement.

Study: The best and worst states for millennials

By Sarah Burns

December 6, 2021 at 10:03 a.m.

The best and worst states for millennials | 24/7 Tempo has developed a list of...

39 companies that paid zero federal taxes last year

By Angelo Young

December 3, 2021 at 4:58 p.m.

39 companies that paid zero federal taxes last year | To identify the companies that...

Financial abuse is alarmingly prevalent in Gen Z relationships

By Fast Company

November 15, 2021 at 3:46 p.m.

A middle schooler's boyfriend asks to borrow $35 of saved babysitting money and then never...

Medicare open enrollment 2021: Choose wisely

By Savage Truth

November 15, 2021 at 2:55 p.m.

Every year, seniors on Medicare are faced with the task of examining their Medicare coverage...

How to get affordable health insurance

By Terry Savage

April 20, 2022 at 1:10 p.m.

The American Rescue Plan Act enacted last March created a huge revision to the Affordable...