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
  • Danville budget eyes real estate tax increase
    “An investment in education would also lead to more middle-class families choosing to live in Danville so that they can send their children to Danville Public Schools,” Larking added in the release. Since the real estate tax rate change in ...
    03/22/2017 - 5:16 am | View Link
  • Ontario urging Ottawa to change tax rules in bid to curb real estate speculation
    Such a measure could also generate tax revenue to put towards other housing affordability initiatives, he adds. "My primary focus is to address the concerns of middle class Canadians who ... by leaving a comment. Rate it yourself by rolling over the ...
    03/20/2017 - 7:31 am | View Link
  • Rachel Maddow Hypes Trump’s 2005 Tax Return, But There’s No Real News There
    “Trump’s return shows that he’s pushing tax changes that benefit multimillionaire heirs like him, not the middle class,” said Lily Batchelder ... and his income tax rate would be lower than the average rate paid by families earning $75,000 to ...
    03/14/2017 - 9:00 pm | View Link
  • The Real Tax Unfairness
    ... reported that the Middle Quintile of federal income taxpayers had an average effective tax rate of 2.6 percent in 2013. Even so, we hear calls for middle class tax cuts. So let’s look at what the middle 20 percent of us have been paying for the last ...
    02/9/2017 - 6:24 pm | View Link
  • The real problem with Trump's taxes isn't what you think
    Anyone who makes money via investing probably pays a much lower tax rate than a middle-class American who works 40 hours a week. USA TODAY With all the pontificating going on about Donald Trump's “loss carryforward” and whether he's paid any income ...
    10/3/2016 - 8:23 pm | View Link
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  • Flat Tax Shifts Burden to the Middle Class | Debate Club ...
    The latest political rhetoric centers on the various proposals for a "flat tax," which can be used to describe any type of system that provides only one tax rate.
    03/20/2017 - 3:20 pm | View Website
  • How does an America with no middle class look like? Bureau ...
    A strong middle class has been at the core of what has been promoted as the American Dream. How would America look like if the middle class simply vanished?
    03/20/2017 - 2:22 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 ...
    03/17/2017 - 9:36 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 ...
    03/16/2017 - 2:10 am | View Website
  • Hillary Clinton’s Tax Plan: Middle Class Tax Hikes ...
    Hillary Clinton’s tax plan would raise taxes on middle-income Americans.
    03/12/2017 - 5:45 pm | View Website
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