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 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 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
  • Real estate taxation? No, there is a fairer tax | PennLive letters
    As a former Republican State Representative told me, a sales tax hurts the poor and a flat-rate personal income tax impacts hardest on the middle class. Exempting residences from real estate taxation would be giving a huge tax cut to the wealthy.
    01/16/2018 - 1:02 am | View Link
  • Rent vs. Buy? The New Tax Law Changes the Math on When to Become a Homeowner
    For a solidly middle-class family of three making $50,000, the tax law made little difference ... possibly resulting in a slightly lower homeownership rate as more households choose to rent.”
    01/15/2018 - 7:00 pm | View Link
  • New Tax Law Breeds Uncertainty In F.C. Projects, Housing Markets
    And it did so at an accelerated rate due to the upper-middle class demographic that flocks to the City for its schools and homey feel. Residents are so well-heeled that the flood of property taxes paid to beat the enacting of the Tax Cuts and Jobs Act in ...
    01/11/2018 - 4:14 am | View Link
  • Cranley signs property tax increase
    The city’s property tax rate for debt service will rise from 6.5 mills to ... Pastor portrayed his vote as one in which he was defending the poor and middle class. “Someone will have to choose between paying a bill or paying for their increase in ...
    01/10/2018 - 10:03 pm | View Link
  • CityViews: NYC Needs More Housing for the Middle Class
    It is well documented that middle-income ... with our tax rate being one of the highest in the country. Add in the high cost of living and many other cities become a lot more attractive – and affordable. If our working class moves, our companies will ...
    01/10/2018 - 4:42 am | View Link
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  • Final Republican tax bill slashes U.S. rate for businesses ...
    Final Republican tax bill slashes U.S. rate for businesses, wealthy and middle-class The bill would cut the corporate income tax rate to 21 per cent from 35 per cent ...
    01/16/2018 - 12:08 am | View Website
  • Commentary: Does the New Tax Plan Help the Middle Class ...
    Commentary: Shareholders Will Be the Real Winners in the GOP's Corporate Tax Cut—Not Your Paycheck
    12/20/2017 - 10:48 am | View Website
  • Why Trump's 'giant' middle class tax cut is less than ...
    President Trump said Wednesday the Republican tax plan working its way through Congress will result in a 'giant tax cut' for the middle class. Here's the ...
    12/12/2017 - 11:58 pm | View Website
  • GOP Tax Plan Screws Middle Class
    GOP Tax Plan Screws Middle Class. The Republicans’ budget resolution for fiscal year (FY) 2018 whiffs completely on the entitlement monster while promising big ...
    11/9/2017 - 10:18 am | View Website
  • Middle-Class Tax Cuts, Deficits, and the Business Cycle
    D.C. is all abuzz about tax reform, the first such legislation since 1986. Republicans want to reform the federal income tax, both personal (i.e ...
    11/9/2017 - 2:18 am | View Website
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