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   
  • 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
  • And Inequality for All - Eugene Weekly
    ... the sinking of the middle class and the poor, Oregon needs to repair its tax system ... told is the low tax rate paid ... according to local ...
    08/7/2014 - 12:09 pm | View Link
    These world-class products ... innovative designs and real ... Americas, Europe, the Middle ... at an effective tax rate of 32.6%. Our ...
    08/7/2014 - 11:34 am | View Link
  • Citizens, Inc. Reports Second Quarter three and six months 2014 ... -
    Citizens, Inc. Reports Second Quarter three and six months 2014 ... - Reuters
    08/7/2014 - 9:41 am | View Link
  • SouFun Announces Second Quarter 2014 Results, Changes to the Board ... - Yahoo! Finance
    SouFun Holdings Q2 Profit Rises; Cuts 2014 Revenue Guidance - Quick ... -
    08/7/2014 - 8:57 am | View Link
  • Telecom Italia: Board of Directors examines and approves the Group ... - TMC Net
    ... in the Far East, Middle East ... December 2013. Brazil (average real/euro exchange rate 3 ... of the capital for the class. ... without ...
    08/7/2014 - 7:59 am | 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 Cure for Income Inequality
    the best economic results for the middle class have come under either free-market leaders like Reagan or Margaret Thatcher, or moderate liberals, like Clinton or Tony Blair. What we need, then, is a new focus on economic growth, accompanied by tax ...
    08/28/2014 - 7:08 pm | View Link
  • PA-Gov Round-Up: Will the Real Taxman Please Stand Up?
    he paid a drastically lower income tax rate than average Pennsylvania families. But as a candidate for Governor, he is now engaging in class warfare by suddenly calling for higher taxes on ‘people like me,’ which he defines as middle class families ...
    08/15/2014 - 8:29 am | View Link
  • Secondary Sources: Bond Bubble, Middle Class and Taxes, Ukraine
    Middle Class and Taxes: Len Burman suggests ways for the tax system ... Thus, if prices rise by 3 percent, the standard deduction, personal exemptions, tax rate thresholds, and certain other parameters also go up by 3 percent. My alternative would adjust ...
    03/14/2014 - 10:17 am | 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
  • Tom Cole: Freeze middle class tax rates, but White House ‘fiscal cliff’ pitch not ‘a real proposal’
    Cole said that House Republicans should agree to freeze tax rates on middle class Americans as Democrats have advocated ... He's said a fight over the tax rate for top earners can come afterward. "I actually do believe we should take things ...
    12/2/2012 - 6:17 am | View Link
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  • Middle class
    History and evolution of the term . The term "middle class" is first attested in James Bradshaw's 1745 pamphlet Scheme to prevent running Irish Wools to France.
    08/29/2014 - 4:08 pm | View Website
  • Department of Revenue
    News and Announcements. Jun 18, 2014 - July 1, 2014 Sales Tax Rate Changes. Apr 3, 2014 - Warning to Taxpayers: Phone and Email Scams. Dec 19, 2013 - Notice: Non ...
    08/29/2014 - 10:32 am | View Website
  • Online Tax Advice
    Berkshire to Pay U.S. Tax Rate on Burger King Deal. Warren Buffett's Berkshire Hathaway is investing $3 billion in the Burger King-Tim Hortons deal, and will pay the ...
    08/29/2014 - 3:01 am | View Website
  • Calculators
    Need to determine a monthly mortgage payment? Loan payments? How much to save for retirement? Find these calculators and much more help and advice at Yahoo! Personal ...
    08/28/2014 - 11:26 pm | View Website
  • Real Estate News, Mortgage Rates, Buy, Sell or Rent a Home ...
    Latest news and feature reports on real estate, homebuying, houses for sale, mortgage loans and interest rates.
    08/28/2014 - 7:01 pm | View Website
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