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
  • Where do property taxes fit into the decision to buy a home?
    Many of the homebuyers are turned off by buying in Baltimore City because of the high tax rate, Schiaffino said, adding that he thinks they are "insanely high." Alternatively, he said middle-class homebuyers are also discouraged by the high prices of the ...
    06/22/2017 - 8:38 am | View Link
  • Guest Opinion: Oregon on the verge of real tax, spending reform
    The proposal at hand would eliminate the current corporate income tax and initiate a Commercial Activities Tax (CAT). The CAT, a gross receipts tax on sales and services, would be imposed on a broad base of businesses at a very low tax rate; proceeds would ...
    06/17/2017 - 8:09 pm | View Link
  • Now, affordable housing is driving home loan growth
    MUMBAI: After years of selling pricey luxury homes that boasted amenities like signature golf courses and jacuzzis, builders finally seem to be moving toward modest apartments to suit middle ... all tax breaks and subsidies. "Effective home loan rate ...
    06/10/2017 - 5:50 pm | View Link
  • Three Easy Pieces: A Simple Get-It-Done-Now Economic Plan
    With a 35 percent corporate tax rate, America is uncompetitive among developed nations in this regard. But that's not what's most important here. When business taxes are reduced, 70 percent of the benefits go to the wage-earning middle class. That's what's ...
    06/8/2017 - 5:00 pm | View Link
  • Kansas Republicans conducted a ‘real live’ tax experiment. Poor people are paying for it.
    Brownback reduced the number of brackets for the tax rate on marginal income from three to two — giving wealthy taxpayers a big break by allowing them to pay the same rate as people in the middle class. He also created a new break to foster small ...
    06/8/2017 - 4:05 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 ...
    06/19/2017 - 3:55 pm | View Website
  • 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.
    06/18/2017 - 6:05 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 ...
    06/17/2017 - 5:38 pm | 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
  • How Does Trump’s Tax Plan Help the Middle Class? ‘Honestly ...
    How Does Trump’s Tax Plan Help the Middle Class? ‘Honestly, We Don’t Know’ by
    05/1/2017 - 12:54 am | View Website
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