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 [...]

Sections:  news   business   
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
  • Hockey's new trick: cutting is really spending - Sydney Morning Herald
    Hockey's new trick: cutting is really spending - Brisbane Times
    04/17/2014 - 10:43 am | View Link
  • BlackRock Reports First Quarter 2014 Diluted EPS of $4.40, or $4.43 ... - Yahoo! Finance
    BlackRock Reports First Quarter 2014 Diluted EPS of $4.40, or $4.43 ... - CNBC
    04/17/2014 - 6:44 am | View Link
  • Schlumberger Announces First-Quarter 2014 Results -
    Shares of SLB Up 10.6% Since Uptrend Call on Shares -
    04/17/2014 - 5:20 am | View Link
  • Low cost housing, but at what cost? [Mint, New Delhi :: ] - BusinessWeek
    ... may be out of reach for the average middle class person. ... The per sq. ft rate in this ... Shapoorji Pallonji Real ... appreciation, ...
    04/16/2014 - 3:53 pm | View Link
  • Populism? Where are the pitchforks? - Reuters
    ... but impotent in real-world ... pay taxes at the same rate as ... include multibillion-dollar tax ... up for the middle class and ...
    04/16/2014 - 3:42 pm | View Link
  • More
  • Obama Democrats Versus Kennedy Democrats
    In promoting his economic program in the early 1960s, President Kennedy told the American people,
    03/10/2014 - 12:44 pm | View Link
  • Jeff DeBoer: Talking About Comprehensive Tax Reform
    Start each day with's National AM Alert for original coverage of the latest transactions and trends shaping the commercial real estate industry.
    03/10/2014 - 5:15 am | View Link
  • NYC Property Tax Change Seen Yielding $4 Billion Windfall
    Mayor Bill de Blasio’s vision of raising income taxes to pay for pre-kindergarten and after- school programs would generate $530 million a year. By revamping property taxes -- and taking on some of New York’s richest residents -- he could get eight times as much.
    03/9/2014 - 9:21 pm | View Link
  • NYC Property Tax Overhaul Seen Yielding $4 Billion for de Blasio
    Mayor Bill de Blasio's vision of raising income taxes to pay for pre-kindergarten and after-school programs would generate $530 million a year. By revamping property taxes -- and taking on some of New ...
    03/9/2014 - 8:45 pm | View Link
  • Obama’s retirement cap could hit middle class
    Obama indicated he will include in his 2015 budget proposal in March plans to limit how much Americans can put in tax-deferred retirement plans including their company-administered 401(k)s and Individual Retirement Accounts. The limits come at a time when firms such as Fidelity say Americans are already underfunded when it comes to retirement.
    03/6/2014 - 9:08 am | View Link
  • More
  • 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 ...
    12/2/2012 - 6:17 am | View Link
  • The Real Middle Class Tax Rate Is Minus 5 Percent
    This is looking at the taxes that are paid by each group then adjusting for what each group receives back as a part of government spending, benefits and provision of services. It gives us a very different idea of the real rates of tax being paid by the ...
    07/15/2012 - 2:16 am | View Link
  • Middle-Class American Dream Needs Less Real Estate
    The middle-class American dream has taken a hit from real estate ... This means that even for the same-priced house, a family paying the top 35 percent federal tax rate on income above $388,000 a year will get more than twice the subsidy received by ...
    06/14/2012 - 6:02 am | View Link
  • Secondary Sources: Middle-Class Squeeze, Economic Outlook, Taxes
    Middle-Class Squeeze: Jared Bernstein runs some data on the ... credit offsets both and even gives them a small refund on top. However, the tax credit is phased out at a rate of 21.06 percent for families with two children after their earned income reaches ...
    06/21/2011 - 1:57 pm | View Link
  • More
  • Middle class
    The middle class is a class of people in the middle of a societal hierarchy. In Weberian socio-economic terms, the middle class is the broad group of people in ...
    04/17/2014 - 6:08 am | View Website
  • Real Estate Blog Ideas » Helping you find stuff to blog about
    CNN Real Estate . Want to make money as a landlord? Try Detroit; Detroit to auction vacant homes. Starting bid: $1,000; Live in a rock star's home for about ...
    04/17/2014 - 1:22 am | View Website
  • Personal Finance News & Articles
    Read personal finance articles about taxes, stock investing and financial planning. Get financial expert advice on how to save money and find more personal finance news.
    04/16/2014 - 8:28 pm | View Website
  • Credit & Debt
    Do you know your secret credit scores? That numerical expression otherwise known as the credit score is the absolute authority of your creditworthiness, right?
    04/16/2014 - 11:31 am | View Website
  • Real Time Economics
    Today, April 15, is Tax Day in the U.S. when Americans fork over money to Uncle Sam—and to their tax preparer. According to the Internal Revenue Service, more than ...
    04/16/2014 - 9:37 am | View Website
  • More

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News