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
  • An America First Tax Plan
    This boost will give middle- and working-class families much-needed tax relief. Small businesses and employees can also expect big gains from the plan. The president and his team have proposed cutting the corporate tax rate from 35% to 20%. This deep cut ...
    10/20/2017 - 5:00 pm | View Link
  • Q&A on the GOP effort to overhaul the nation's tax system
    (Now make that four, with an added bracket for high-income earners, rate to be determined ... companies beyond U.S. borders. The American middle-class family could take advantage of a heftier child tax credit and the extra money that could come from ...
    10/20/2017 - 8:07 am | View Link
  • The Real Winners in Trump’s Tax Plan
    “Cutting the corporate tax rate from 35 percent to 20 percent “could provide ... The TPC estimates that more than a quarter of middle-class families would see their tax bills go up. Before it's here, it's on the Bloomberg Terminal.
    10/19/2017 - 7:31 am | View Link
  • For real tax reform, simplify the system and put the middle class first
    Balance the corporate tax by providing preferential treatment for small/pass-through business, the heart of the middle class economy, while taxing the biggest corporations at an appropriate rate. • Establish the tax brackets and rates to benefit 90 ...
    10/17/2017 - 6:19 pm | View Link
  • Mnuchin Says Estate Tax Repeal Will Help ‘Rich People’ Most
    Estates are taxed at a rate of 40 percent, but the first $5.49 million ... is seen as skewed toward the rich and not doing enough to help the middle class. The push to entirely repeal the tax has also been complicated by previous efforts that pared it ...
    10/13/2017 - 6:48 pm | View Link
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  • Repealing Obamacare is A Giant Middle Class Tax Cut ...
    A recent analysis by the Congressional Budget Office (CBO) found that repealing this tax would decrease spending by $311 billion over ten years.
    10/20/2017 - 1:22 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 ...
    10/18/2017 - 1:10 pm | View Website
  • 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 ...
    10/18/2017 - 10:54 am | View Website
  • Middle class tax cut
    We will give middle class Canadians a tax break, by making taxes more fair. When middle class Canadians have more money in their pockets to save, invest, and grow the ...
    10/18/2017 - 7:12 am | View Website
  • Trump promises 'middle class miracle' tax plan with little ...
    He rolled out his proposal during a speech in Indianapolis on Wednesday, but was still short on details about who would pay each rate.
    09/28/2017 - 8:26 am | View Website
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