The Real Middle Class Tax Rate Is Minus 5 Percent

There are a number of ways that you can calculate tax rates: average, marginal, including only direct taxes, adding indirect taxes and so on. But the most complete method is to look at taxes paid and then net off against that benefits received. This gives the true tax and benefit [...]

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Topics:  middle class   tax rate   taxes   
  • Owner of Mystic Pizza pleads guilty to tax charges
    The owner of the Mystic Pizza restaurant made famous in a 1988 movie has pleaded guilty to federal tax charges. More
  • On Marijuana Tax, Colorado Asks: What’s Too High?
    If marijuana is legalized and properly regulated, its proponents have long said, it could generate millions of dollars in state tax revenue. But how the drug should be taxed has proved to be a thorny question. More
  • Senate planning vote on Internet sales tax bill
    The days of tax-free online shopping could finally be numbered. The Senate is planning to vote on a bill as soon as Monday that would give states the authority to collect sales taxes on all Internet purchases, handing local governments as much as $11 billion per year in added revenue that they are legally owed — but that hasn’t been paid to them for years. More
  • Where do more tax cheats live? South and West, IRS study showsWhere do more tax cheats live? South and West, IRS study shows
    Worried the Internal Revenue Service might target you for an audit? You probably should be if you own a small business in one of the wealthy suburbs of Los Angeles. You might also be wary if you're a small-business owner in one of dozens of communities near San Francisco, Houston, Atlanta or the District of Columbia. More
  • Obamas paid $112,000 in taxes in 2012Obamas paid $112,000 in taxes in 2012
    President Obama and first lady Michelle Obama paid more than $112,000 in taxes in 2012, an effective federal income tax rate of more than 18% for 2012, according to the White House. The Obamas and Vice President Biden and his wife released their tax returns Friday, three days before the April 15 tax filing deadline. More
  • Trump would raise taxes on struggling middle class families, so that billionaire real estate developers could get a massive tax cut.
    Dylan Matthews has a great new post showing that Trump’s new tax plan would devastate the sort of Americans ... What will Trump do with this money that he takes from our struggling middle class? Slash income taxes from 40% to 15%, for (non-corporation ...
    09/27/2016 - 10:34 pm | View Link
  • Donald Trump vs. Hillary Clinton on Tax Cuts for the Rich
    The candidates quickly touched on other tax issues that divide them: business taxation, estate taxes and what Mr. Trump’s plan would do to middle-class households ... lower the top individual tax rate from 39.6% to 33%, repeal taxes on high-income ...
    09/27/2016 - 11:32 am | View Link
  • From the desk of... Will the real child poverty rate please stand up?
    Witness the good news in the latest version of the nation’s “economic report card”: the Census Bureau’s annual estimates of the median household income and the poverty rate. Here are ... poverty and join the middle class. This should be a source ...
    09/20/2016 - 8:26 pm | View Link
  • Three Simple Reasons Why Hillary and Bernie’s Real Plan Is to Soak the Middle Class
    There’s not much ability to squeeze more money from the “rich” and America already has the developed world’s most “progressive” tax system. The only practical way to finance bigger government is with big tax hikes on the middle class ...
    04/12/2016 - 1:00 pm | View Link
  • Real 'middle class tax cut' would lower rate in first income bracket — not second, NDP argue
    The NDP’s main criticism of the Liberals’ proposed middle-class tax cut — that it disproportionately benefits people who aren’t really middle class — neither resonated when they first aired it last spring, nor cut through the campaign din.
    12/7/2015 - 7:19 am | View Link
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  • The Impact of Piketty’s Wealth Tax on the Poor, the Rich ...
    In terms of the current GDP of about $17 trillion, that is a GDP loss of nearly $1 trillion annually. Federal revenue would grow by a massive $324 billion according ...
    09/28/2016 - 12:44 am | View Website
  • Middle Class Tax Breaks for the Rest of Us-Kiplinger
    If you believe that tax breaks are for millionaires and companies with offshore subsidiaries, you’re probably paying too much to the IRS. In recent years, lawmakers ...
    09/24/2016 - 3:26 am | View Website
  • Trump's latest property tax bill, out June 3, shows he ...
    Trump's latest property tax bill, out June 3, shows he once again received a middle-class tax break The self-proclaimed billionaire gets a tax break for New Yorkers ...
    09/23/2016 - 12:53 pm | View Website
  • 84 Statistics That Prove That The Decline Of The Middle ...
    84 Statistics That Prove That The Decline Of The Middle Class Is Real And That It Is Getting Worse
    09/22/2016 - 4:15 pm | View Website
  • American middle class
    The American middle class is a social class in the United States. While the concept is typically ambiguous in popular opinion and common language use, contemporary ...
    09/21/2016 - 9:13 am | View Website
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