A whopping 52.6 percent tax rate on ordinary income

From an article about ranking the tax efficiency of certain income-oriented investments for six-figure earners:

Begin by choosing marginal tax rates for both ordinary income and long-term capital gains. Litman Gregory assumed a whopping 52.6 percent rate on ordinary income, which includes 8 percent for state income tax. The federal portion consists of this year’s top ordinary rate of 39.6 percent (applicable when joint income exceeds $450,000, or $400,000 if single), plus 1.2 percent due to the phase-out of itemized deductions (hitting joint filers above $300,000, singles above $250,000), plus the 3.8 percent Medicare investment-income surtax (on joint incomes topping $250,000, or $200,000 if single).
The personal-exemption phase-out was ignored. Including it could potentially add a few more percentage points to an investor’s tax rate, depending on the number of exemptions claimed.

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