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Categorized Results
| Author | Tax Policy Center
(40)
Rohaly, Jeff
(3)
Burman, Leonard E.
(2)
Carasso, Adam
(2)
Kobes, Deborah
(2)
Williams, Roberton
(2)
Favreault, Melissa
(1)
Forman, Jonathan Barry
(1)
Gale, William G.
(1)
Griffin, Maureen Anne
(1)
Holzer, Harry
(1)
Iams, Howard
(1)
Johnson, Richard W.
(1)
Kravitz, Troy
(1)
Leiserson, Greg
(1)
Maag, Elaine
(1)
Mermin, Gordon
(1)
Orszag, Peter
(1)
Penner, Rudolph G.
(1)
Saleem, Mohammed Adeel
(1)
Smith, Karen E.
(1)
Toder, Eric
(1)
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| 3. |
Taxable Payroll and Payroll Tax Rates
While the payroll tax rates for Hospital Insurance and OASDI have increased since 1966, the HI rate has risen faster. The HI rate is now almost one-quarter of the OASDI rate. Orszag concludes that removing the current $87,000 cap on taxable payroll under OASDI would raise a substantial share of the long-term OASDI deficit.
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| 9. |
Tax Burden on Poor Families Has Declined Over Time
Families with children in poverty receive net subsidies from the federal income and payroll tax system, but that has not always been the case. In the 1970s, income tax filing thresholds were low, and even families in poverty who owed no income tax faced substantial payroll taxes. Congress enacted a refundable Earned Income Tax Credit (EITC) in 1975 to offset some payroll taxes for low-income workers. In 1986, 1990, 1993, and 2001, lawmakers greatly expanded the credit for families and moderately for childless workers. The combination of EITC changes, increases in exemptions and deductions, indexation of tax brackets, and expansion of the Child Tax Credit (CTC) has substantially improved the tax treatment of poor families with children.
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| 10. |
Minimum Wage, the Earned Income Tax Credit, and Inflation
The earned income tax credit was enacted to offset the social security payroll tax for low-income working families. The credit has been significantly expanded and now provides substantial income to these families. However, very low-income workers, such as those working at the minimum wage, have seen the value of their credit erode due to interaction between the earned income tax credit, the minimum wage, and inflation.
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| 15. |
2006 Current Law Distribution of Federal Taxes
Distribution of federal taxes (effective tax rates and share of taxes paid) in 2006 by cash income and income percentile. Includes individual income tax, corporate income tax, payroll taxes, and estate tax.
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| 17. |
Payroll Tax, Federal: From The Encyclopedia of Taxation and Tax...
Payroll taxes are a group of taxes based on the earnings of employees and self-employed persons. As a revenue source, federal payroll tax revenues have grown substantially in the past 60 years. Federal payroll taxes, or social insurance contributions, consist of tax revenues from Social Security, Medicare hospital insurance, unemployment insurance, railroad retirement, and other retirements. This article explains each component of payroll taxes and their incidence in total.
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| 20. |
Family Taxes
poverty family taxes payroll income combined threshold level
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Categorized Results
| Author | Tax Policy Center
(40)
Rohaly, Jeff
(3)
Burman, Leonard E.
(2)
Carasso, Adam
(2)
Kobes, Deborah
(2)
Williams, Roberton
(2)
Favreault, Melissa
(1)
Forman, Jonathan Barry
(1)
Gale, William G.
(1)
Griffin, Maureen Anne
(1)
Holzer, Harry
(1)
Iams, Howard
(1)
Johnson, Richard W.
(1)
Kravitz, Troy
(1)
Leiserson, Greg
(1)
Maag, Elaine
(1)
Mermin, Gordon
(1)
Orszag, Peter
(1)
Penner, Rudolph G.
(1)
Saleem, Mohammed Adeel
(1)
Smith, Karen E.
(1)
Toder, Eric
(1)
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