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
  • Michael C. Burgess: Tax reform making real difference for all
    where all Americans are taxed at a single rate, is the simplest and fairest way to raise revenue. While Congress has yet to achieve Armey's vision, the significant simplification of the tax code enacted by the tax law is a big win for middle-class taxpayers.
    04/19/2018 - 11:46 pm | View Link
  • Opinion: Tax cut making a real difference in the lives of real Americans
    The telecommunications company also said lowering the corporate tax rate from 35 to 21 percent is empowering ... providing relief for middle-class families and reforming our business tax code to create more jobs and higher wages that were long overdue.
    04/16/2018 - 3:02 am | View Link
  • Should Cities Tax Huge Homeowner Profits From Stopping Housing?
    A developer who builds market rate housing adds to the city’s housing supply. And if the city has an inclusionary requirement, they are giving working and middle-class people the ability ... in their neighborhood. This tax on homeowner profits would ...
    04/10/2018 - 12:08 am | View Link
  • Pelosi: Democrats will rework Trump tax cuts if they take back the House
    “Eighty-six million middle-class families will see a tax increase while they advertise ... including lifting the corporate tax rate to 25 percent, raising the income tax rate to 39.6 percent for high earning Americans and slashing the carried-interest ...
    04/8/2018 - 8:21 am | View Link
  • Middle-class families are the real winners in the GOP tax plan
    The views expressed by contributors are their own and not the view of The Hill The unified Republican tax reform framework released last month cuts taxes and increases take-home pay for the middle class while ... giving rate reduction to all.
    10/13/2017 - 7:00 am | 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 wages, while at the same time, the phenomenon fails to have a similar effect on the top wage earners.
    04/19/2018 - 3:31 pm | View Website
  • Trump's tax plan aims to help middle-class Americans | Fox ...
    The final push for a comprehensive tax reform is underway in Congress, with President Donald Trump stumping for lower taxes for both corporations and the middle class.
    04/19/2018 - 8:00 am | 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 social scientists have put forward several ostensibly congruent theories on the American middle class.
    04/19/2018 - 1:48 am | View Website
  • 84 Statistics That Prove That The Decline Of The Middle ...
    84 Statistics That Prove That The Decline Of The Middle Class Is Real And That It Is Getting Worse
    04/17/2018 - 11:33 pm | View Website
  • Why Trump's 'giant' middle class tax cut is less than ...
    President Trump said Wednesday the Republican tax plan working its way through Congress will result in a 'giant tax cut' for the middle class. Here's the reality.
    12/12/2017 - 11:58 pm | View Website
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