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Understanding Tax Rates

On Monday morning, a commentator -- who may have been a guest -- on a cable news network claimed that a family living in Connecticut, with income of $250,000, putting four children through college, paid 55 percent of its income in taxes. The comment was made as a comparison to the tax rates faced by the ultra-rich and the economically deprived, with the observation that many of them paid no federal income tax.
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Obama Tax Rate: ‘Morning Joe’ Scarborough Rails Against Hypocrisy On Tax Day [Video]

News : The Inquisitr - News

On Tax Day, Joe Scarborough expressed outrage that President Barack Obama is not paying his fair share. Obama only paid 18 percent of his income in taxes on an adjusted gross income of $600,000 when he filed his 2012 federal tax ret...

The Tax Rate Paid by the Top 1% Is Double the National Average

Business & Finance / Taxes : Tax Foundation's Tax Policy Blog

The average federal tax rate for all taxpayers rose slightly in 2010 to 11.81 percent, up from 11.06 percent the previous year. The tax rate paid by individuals with incomes in the top 1 percent averaged 23.39 percent, while all fil...

MITT ROMNEY: I Have Never Paid Less Than 13% On My Income Taxes

Politics : Business Insider: Politix

Mitt Romney told reporters Thursday that he has never paid less than a 13 percent tax rate on his federal income taxes, attempting to put to rest speculation that he will not release his tax returns because there are years in which ...

Monday Map: Percentage of Federal Income Tax Revenue from Filers Making Over $200,000

Business & Finance / Taxes : Tax Foundation's Tax Policy Blog

Today's Monday Map looks at the percentage of federal income tax revenue from each state that is paid by filers with incomes over $200,000. Such filers make up a small percent of the population but pay a high percent of total tax re...

President Obama clueless about teachers’ tax rates.

US Politics / Conservative : RedState

FactCheck puts it very succinctly: President Obama’s claim that he pays a lower tax rate than a teacher making $50,000 a year isn’t true. A single taxpayer with $50,000 of income would have paid 11.9 percent in federal income taxes ...


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