In most cases, ironically, their total tax burden is disproportionately higher than upper-income groups.
Brown could be taxed at 23.8% federal and 13.3% state for a total tax burden of 37.1%.
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In the event of a crash landing, these are the income groups that will see their total tax burden increase in pure percentage terms.
The total tax burden (federal, state and local) on the American people today is the highest it's ever been -- the equivalent of 32% of the economy.
As the rate kicking in with the first dollar of earned income has shot up, payroll levies have become a much bigger part of the total tax burden.
But he hinted that the rate would be lower than 75 per cent, pointing out that the constitutional council had indicated that a total tax burden above that level, including other levies, "could be judged as a confiscatory rate" by the council.
They are wealthy and worldly enough to know that while their present location is nice and familiar, there are a large number of countries that would welcome their presence and where they could reproduce their current business and personal lives while greatly reducing their total tax burden.
When is paying both more and a greater share of the total income tax burden a tax break?
After marginal tax rates were reduced in 2003, Federal income tax revenues increased sharply and the wealthy once again saw an increase in their share of the total Federal income tax burden.
But Dominic Wilson at Goldman Sachs estimates that, if principal repayments are added in, then the total debt-service burden is already higher than in the 1980s: households have never before been so stretched.
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Compare this to the total share of Federal income taxes paid by the 80% of tax payers who are in the 2nd through 5th quintile of earners who paid less than 6% of the total Federal income tax burden in 2009 (data from the Congressional Budget Office).
Over the past 80 years, despite multiple movements in marginal rates up and down, the top 1% of earners paid an ever-increasing share of the total Federal income tax burden reaching its highest point at 40% after the Bush tax cuts and most recently representing 38.7% of total Federal income tax in 2009.
This is a very important distinction as the vast majority of Americans, including unfortunately most politicians and the vast majority of the news media, equate tax rates and changes in tax rates with directionally and proportionally equal changes in tax revenues (if you are the Federal Government) and total tax payment or tax burden (if you are the tax payer).
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Romney repeated his promise that the wealthiest two percent of taxpayers would not see their share of the total U.S. tax burden decrease.
Who among us is willing to tolerate high unemployment, anemic wage growth, growing income inequality, and to boot, a debt burden that is on track to equal the total output of the U.S. economy by the end of this decade?
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Early data for 2010 suggest that, although absolute numbers are falling, Greece's burden has risen further, to about 80% of the EU total, up from 50% three years ago.
The data shows the average tax that a medium-size American company must pay or withhold in a given year, as well as measures of the administrative burden in paying taxes, equates to 46.7% of total profits in the U.S. compared with 42.7% in the OECD despite having less number of taxes to pay than its advanced economy rivals (11 for U.S. vs 13 different taxes for OECD).
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Overall municipal debt is relatively low and debt burden (the ratio of how much is paid on debt service relative to total budget) averages under 5% according to the most recent U.S. Census data.
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