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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  • 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
  • Sliced bagel tax? Travelers, beware America's strangest taxes
    Although taxes are one of life’s certainties, they can still surprise you. Consider the iconic New York bagel: decide to have yours toasted, and it’ll come with a tax. The rationale is that sliced bagels are usually consumed on a café or store’s premises—and restaurant meals are taxed, whereas groceries (like a dozen unsliced bagels) are not. More
  • PacWest Bancorp Announces Results for the Second Quarter of 2014 -
    Taxes Our overall effective income tax rate was 57.7 ... 2014   (In thousands) Real ... portfolio segment and class as ... a full spectrum of ...
    07/22/2014 - 7:11 am | View Link
  • The real reason for income inequality - Boston Globe
    ... below Indeed, the unemployment rate ... if returned to our shores, wouldn’t bring back a robust middle class. ... Alternatively, we might ...
    07/22/2014 - 4:47 am | View Link
  • A better alternative to paid parental leave - Business Spectator
    PPL scheme benefits questioned - Business Spectator
    07/21/2014 - 9:27 am | View Link
  • India: India Budget 2014: New Beginnings And New Direction - Mondaq
    ... as real estate. The Budget proposes to indefinitely continue the lower 15% tax rate ... Given the burgeoning middle class story and a market ...
    07/21/2014 - 5:57 am | View Link
  • The Fault Lines of Poverty - NDTV
    ... think there is a real question ... as a society, to say while middle class aspirations are ... Our peak income tax rate of 33 percent, ...
    07/20/2014 - 3:50 pm | View Link
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  • Carney at Tolerance Limit as BOE Acts to Curb Housing Risks
    Mark Carney said the biggest risks to Britain's recovery stem from the housing market as he introduced measures to limit riskier mortgages and prevent an unsustainable buildup of consumer debt. Today's announcement is the biggest recent effort by a major central bank to tackle the threat of an asset bubble and avoid a repeat of the 2008 financial crisis. "This is the limit of our tolerance ...
    06/26/2014 - 7:39 am | View Link
  • Robert B. Reich: Business needs a healthy middle class
    A few weeks ago I was visited in my office by the chairman of one of the country's biggest high-tech firms. He wanted to talk about the causes and consequences of widening inequality and the shrinking middle class, and what to do about it.
    06/25/2014 - 1:00 am | View Link
  • How gas tax hike would slam economy
    The proposed raise will hit the middle class right where it hurts. It couldn't come at a worse time.
    06/23/2014 - 2:09 pm | View Link
  • Opinion: Income Tax Benefits Should Be Adjusted to Inflation
    India's Union Budget 2014-15 is just a few days away and every taxpayer has his/her own wish list on what can be expected from it. In addition to the corporate sector, salaried taxpayers and middle cl...
    06/23/2014 - 9:46 am | View Link
  • Craig Can't Count
    The tax policy Colin Craig announced yesterday will increase income tax for everyone who earns more than $36,000. That is almost everyone in full time employment.
    06/23/2014 - 12:14 am | View Link
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  • The real reason for income inequality
    Some have described this as a “hollowing out” of the middle class and everyone, it seems ... Indeed, the unemployment rate confirms that, tracking almost exactly to education. Those without a high school degree, for example, had an 11 percent ...
    07/21/2014 - 7:32 pm | View Link
  • Letter: Real tax reform will fix wealth gap
    President Obama says the middle class and the hardworking single moms deserve a better ... By eliminating the many deductions and credits, the low tax rate on income will generate adequate income for essential government services and provide needed support ...
    07/14/2014 - 7:03 pm | View Link
  • Think Tank: “Middle Class Tax Increase is Real”
    If you haven’t already, you’re going to notice your next paycheck is a little short, thanks to a higher withholding tax rate applied to your earnings ... notes has resulted in a tax increase on middle-class house holds. The Center says that for this ...
    01/11/2013 - 11:22 am | View Link
  • The Real Middle Class Tax Rate Is Minus 5 Percent
    This is looking at the taxes that are paid by each group then adjusting for what each group receives back as a part of government spending, benefits and provision of services. It gives us a very different idea of the real rates of tax being paid by the ...
    07/15/2012 - 2:16 am | View Link
  • The European Evidence Shows Why the Left’s Real Goal Is Higher Taxes on the Middle Class
    The corporate tax rate is higher in the United States than in any European ... Simply stated, the Europeans collect a lot more from the middle class.
    04/13/2012 - 4:50 pm | View Link
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  • Personal Finance News & Articles
    Read personal finance articles about taxes, stock investing and financial planning. Get financial expert advice on how to save money and find more personal finance news.
    07/22/2014 - 2:56 am | View Website
  • Online Tax Advice
    Sigma Tax Pro Breaks Down Key Tax Provisions of Affordable Care Act. Sigma Tax Pro Breaks Down Key Tax Provisions of Affordable Care Act 11:00 a.m. July 3 ...
    07/22/2014 - 12:40 am | View Website
  • Taxes | State and Federal Tax Rates by
    State tax rates Wondering what your state tax rate is? Find out about state tax rates here. Click on a state to get a summary of the income, personal and sales taxes ...
    07/21/2014 - 4:54 pm | View Website
  • Real Estate Blog Ideas » Helping you find stuff to blog about
    CNN Real Estate . Mansions for under $1 million; Best places for vacation home deals; 6.5 million homes at risk from storm surges
    07/21/2014 - 2:57 am | View Website
  • Middle class
    The middle class is a class of people in the middle of a societal hierarchy. In Weberian socio-economic terms, the middle class is the broad group of people in ...
    07/20/2014 - 7:33 pm | View Website
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