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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  • 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 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
  • Hillary Clinton wants you to remember the 1990s - Sacramento Bee
    ... into is a sense of frustration among the middle class. ... where the unemployment rate ... Phil Angelides, a real estate ... any tax. ...
    05/29/2016 - 9:02 am | View Link
  • New 13th District sets up crowded GOP primary - Raleigh News & Observer
    ... of the political class to doing ... national defense and real border ... would be to reduce student loan rate to ... the tax code. ...
    05/28/2016 - 2:23 pm | View Link
  • Week’s Highlights 27 May 2016 - MauritiusTimes
    ... among the millions and millions of middle class Indians ... is a test of their real sense ... The India Tax Treaty ... to Mauritius Times ...
    05/28/2016 - 11:27 am | View Link
  • Circular and Annual Financial Report - London Stock Exchange
    We also have a suspicion that the real hazard is what one American politician tried to articulate as the 'unknown unknowns'.
    05/27/2016 - 3:52 pm | View Link
  • To find progress in Nigeria, think local - Chicago Tribune
    The real problem is the country ... Middle-class Nigerians spend vast amounts of time ... Tax collection grew twentyfold ... 30 million at the ...
    05/27/2016 - 12:26 pm | View Link
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  • Real Estate: A Quick Guide to Memphis
    Home to a robust blues scene, world-class barbecue and Graceland ... As of 2015, the property tax rate for Shelby County, which encompasses all of Memphis, is $4.37 per $100 of tax-assessed value. In addition to county taxes, homeowners must pay city ...
    05/19/2016 - 7:13 am | View Link
  • For middle-class homeowners, mortgage-interest tax break becomes meaningless
    With tax day looming, real estate consultant John Burns argues that the mortgage-interest deduction has lost its value to middle-class homeowners ... at the beginning of 2016 in a 30-year fixed-rate mortgage at 3.5 percent. This year, you’d pay ...
    04/14/2016 - 1:52 am | View Link
  • Real 'middle class tax cut' would lower rate in first income bracket — not second, NDP argue
    ... in fact — they will get a tax cut…There will be nothing for a middle class family earning $45,000 a year.” The point the NDP is continuing to make is that cutting the tax rate for the second income bracket from 22 per cent to 20.5 per cent (for ...
    12/7/2015 - 7:19 am | View Link
  • Trump: Tax Carried Interest At Same Rate As Income, Hedge Fund, Limited Real Estate People Should Pay More
    Trump was asked, [relevant exchange beings around 2:35] “Hillary Clinton has proposed that we should get rid of that carried interest loophole, and tax carried interest at the same rate as ordinary ... I’m about the middle class. I want the middle ...
    08/25/2015 - 1:00 pm | View Link
  • GOP’s economic theories and real-world realities
    With a typical family’s savings estimated at $700 to $1,000 a year from cheaper gas alone, the price drop is akin to a significant middle-class tax cut ... as individual income and cut the top income-tax rate by 25 percent, with the goal of making ...
    01/20/2015 - 12:19 pm | View Link
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  • Middle Class Tax Breaks for the Rest of Us-Kiplinger
    If you believe that tax breaks are for millionaires and companies with offshore subsidiaries, you’re probably paying too much to the IRS. In recent years, lawmakers ...
    05/26/2016 - 10:29 am | View Website
  • The Impact of Piketty’s Wealth Tax on the Poor, the Rich ...
    Executive Summary. In his bestseller Capital in the Twenty-First Century, Thomas Piketty recommends a wealth tax as a remedy to inequality. The basic version of ...
    05/25/2016 - 9:07 pm | View Website
  • Donald Trump's middle-class tax credit a mistake, New York ...
    City says Trump should not have received middle-class tax break, but how he got it remains a mystery Bureaucratic blundering sent the purported billionaire the tax ...
    05/25/2016 - 12:46 pm | View Website
  • California’s disappearing middle class: Is the California ...
    107 Responses to “California’s disappearing middle class: Is the California dream viable for middle class families? The growing disparity between rich and ...
    05/25/2016 - 11:42 am | View Website
  • Middle Class Tax Break: Tax-Free Capital Gains-Kiplinger
    Tax-Free Capital Gains: A Tax Break for the Middle Class. Taxpayers in the two lowest brackets owe no tax at all on long-term gains and qualified dividends.
    05/25/2016 - 5:01 am | View Website
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