Believe it or not, Hawaii’s top marginal tax rate is 367,100 percent. That makes France’s 75 percent and 100 percent tax rates seem like a downright bargain. A new paper released by the University of Hawaii at Hilo, Texas Tech University and The Institute for Business and Finance Research details how state tax laws in Hawaii create a tax cliff of epic proportions where a single extra dollar in income can trigger marginal tax rates that are nothing short of income confiscation. The paper titled, Marginal Tax Rates Around the Hawaii Itemized Deduction Cliff, details how a single dollar that…