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
  • City’s property tax rate expected to decrease
    Despite the decrease in the city’s levy rate, Patterson said, Hastings’ valuation, sales tax and motor vehicle tax revenue still lags behind other first-class cities in Nebraska ... officer for the Hastings Middle School. Patterson said the middle ...
    08/18/2017 - 5:20 am | View Link
  • Prime real estate
    The gimmick has also had little impact, with the home-ownership rate falling to a 51-year low ... who would see their after-tax income fall by 0.62 percent. A small number of middle-class taxpayers would see that income fall by less than 0.1 percent.
    08/15/2017 - 9:00 pm | View Link
  • Is California Cracking Up?
    Yet California -- after raising its top income tax rate to 13.3 percent and receiving record revenues ... Illegal immigration over the last 30 years, the exodus of millions of middle-class Californians, and huge wealth concentrated in the L.A. basin ...
    08/9/2017 - 5:00 pm | View Link
  • Real tax reform
    Lowering personal rates, cutting the corporate tax rate by more than half ... pretax income), $940,000 for the top 0.1 percent (9 percent) and $760 for the middle class (1 percent), according to the nonpartisan Tax Policy Center (TPC).
    08/8/2017 - 10:53 pm | 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 ...
    02/9/2017 - 6:24 pm | View Link
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  • Guest Post: The Real-World Middle Class Tax Rate: 75% ...
    Submitted by Charles Hugh Smith from Of Two Minds. The Real-World Middle Class Tax Rate: 75%. If we include all taxes, the real-world tax rate is much higher than the ...
    08/13/2017 - 2:43 pm | View Website
  • THE REAL-WORLD MIDDLE CLASS TAX RATE: 75% >> Four Winds 10 ...
    For those Americans earning between $34,500 and $106,000, the real-world middle class tax burden in high-tax locales is 15% + 25% + 5% + 15% + 15% = 75%. Yes, 75% ...
    06/30/2017 - 6:52 am | View Website
  • Will a corporate tax cut benefit the middle class?
    Will a corporate tax cut benefit the middle class? ... The theory is if Congress cuts corporate tax rates and ... Market indices are shown in real ...
    06/29/2017 - 7:08 am | View Website
  • Tax reform: It's business vs. the middle class
    There are a thousand fights to be had over tax reform. One of the big ones is how much should tax reform directly help businesses vs. the middle class?
    05/19/2017 - 6:30 am | View Website
  • The Average Family Pays a Federal Income Tax Rate of 5% ...
    The Average Family Pays a Federal Income Tax Rate of 5%. ... The plain truth is that middle-class tax cuts are ... I do think he’s highlighting a real dilemma ...
    09/1/2015 - 11:43 am | View Website
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