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
  • Benefits beckoning Pune real estate market
    Buyers: Middle-class - Reduction in the income tax rate will benefit middle-class buyers and improve their home loan eligibility. - Further reduction in housing loan interest rates due to various factors such as demonetisation is expected to continue in ...
    02/21/2017 - 11:58 pm | View Link
  • Bipartisan Kansas plan for tax hike might not overcome veto
    (AP) — A bipartisan plan that would balance Kansas' budget mostly with income tax increases and roll back Republican ... arguing that it would hurt middle-class families and small businesses. Instead, he has proposed raising taxes on cigarette and ...
    02/16/2017 - 10:40 am | View Link
  • The Real Tax Unfairness
    ... reported that the Middle Quintile of federal income taxpayers had an average effective tax rate of 2.6 percent in 2013. Even so, we hear calls for middle class tax cuts. So let’s look at what the middle 20 percent of us have been paying for the last ...
    02/10/2017 - 6:17 pm | View Link
  • Govt Announces Massive Real Estate Subsidies; Now Save Rs 2.4 lakh On Your 1st Home Loan!
    Besides these subsidies, there already exists Income Tax benefits up to Rs 61,800/ yr ... mobility of the working class and its impact on the employment rate. As more and more middle-class and lower middle-class citizens start buying a home, they ...
    02/10/2017 - 6:10 pm | View Link
  • The real problem with Trump's taxes isn't what you think
    Anyone who makes money via investing probably pays a much lower tax rate than a middle-class American who works 40 hours a week. USA TODAY With all the pontificating going on about Donald Trump's “loss carryforward” and whether he's paid any income ...
    10/3/2016 - 8:23 pm | View Link
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  • Middle-class squeeze
    The middle-class squeeze is the situation where increases in wages fail to keep up with inflation for middle-income earners leading to a relative decline in real ...
    02/16/2017 - 6:47 pm | View Website
  • Why Trump's Tax Plan is a Slap in the Face to the Middle ...
    34 Responses to Why Trump’s Tax Plan is a Slap in the Face to the Middle Class. SS says: January 20, 2017 at 1:20 pm. I read and article explaining that Trumps ...
    02/15/2017 - 12:11 am | View Website
  • Hillary’s Soda Tax Endorsement Violates Middle Class Tax ...
    The House Republican “Better Way” tax reform blueprint proposes a desperately needed overhaul of the tax code. It has been more than 30 years since tax reform was ...
    02/14/2017 - 9:05 pm | View Website
  • » Real Change
    > expand export opportunities benefit canada. trade vital economy. opens markets, grows canadian businesses, creates good-paying middle class jobs – jobs pay wages ...
    02/14/2017 - 11:11 am | 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 ...
    02/14/2017 - 4:30 am | View Website
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