taxes

1 posts
Billionaire tax rates

ProPublica anonymously obtained billionaires’ tax returns. Combining the data with Forbes’ billionaire wealth estimates, ProPublica calculated a “true tax rate” for America’s 25 richest people: The results are stark. According to Forbes, those 25 people saw their worth rise a collective $401 billion from 2014 to 2018. They paid a total of $13.6 billion in federal income taxes in those five years, the IRS data shows. That’s a staggering sum,...

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Timeline of the President’s taxes

The New York Times got a hold of the President’s tax records for the past two decades. They charted the reported gains and losses. It starts with an overview stacked area chart and then scrolls through the details and peculiarities. Very peculiar. Tags: New York Times, taxes

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Animated line chart to show the rich paying less taxes

David Leonhardt, for The New York Times, discusses the relatively low tax rates for the country’s 400 wealthiest households. The accompanying animated line chart by Stuart A. Thompson shows how the rates have been dropping over the years, which are now “below the rates for almost everyone else.” Oh. Tags: New York Times, rich, Stuart A. Thompson, taxes

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Where the IRS most likely audits

Using estimates from a study on regional bias in tax audits, ProPublica mapped the likelihood of getting audited by the IRS. They then turn their attention to Humphreys County, Mississippi: In a baffling twist of logic, the intense IRS focus on Humphreys County is actually because so many of its taxpayers are poor. More than half of the county’s taxpayers claim the earned income tax credit, a program designed to...

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Tax changes for different groups

There’s less than a month until taxes are due. It’s the most wonderful time of year, isn’t it? As you probably know, there are some changes in deductions, limits, and refund amounts this year, but who the changes affect depends on many variables. For Bloomberg, Ben Steverman and Marie Patino, provide an easier-to-follow breakdown of common groups and variables, how the groups’ total taxes differ from last year, and how...

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Tax calculator that considers where you live

Here’s a different look at tax cuts and increases from Reuben Fischer-Baum for The Washington Post. As Fischer-Baum points out, keep in mind that these are just estimates and they calculations vary: Analyses that use data from real taxpayers as their starting point – like the calculator put together by the New York Times – produce lower estimates. Other calculators like the one put together by the Wall Street Journal...

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How your taxes will change

I’m pretty sure this is all that most people want to know. The Upshot provides a tax calculator that considers the Republican tax bill and the variation of taxes between households that earn similar incomes. Punch in some information like income range and marital status, and you get a range of tax cuts or increases for households similar to yours. Tags: taxes, Upshot

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Middle-class tax cuts and increases from Senate bill

A lot of tax debate centers around the “average” American family, with focus on both tax cuts and increases for what seems like the same groups of people. The difficulty in these arguments is that there’s a ton of variation within the same income brackets because of the various factors to consider in tax calculations. Quoctrung Bui and Ben Casselman, reporting for The Upshot, explain with 25,000 example households plotted...

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Every tax cut and increase in House Republicans’ bill

The House Republicans will vote on a tax bill soon that adds about $1.4 trillion to the federal debt. Alicia Parlapiano and Adam Pearce, reporting for The New York Times, look at every change in this scroller. I like that the visual is kept simple with a two-column, stacked bar chart as the backdrop. The chart provides scale, but the focus in on the text. Tags: New York Times, scrollytelling,...

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Given your income, most beneficial tax breaks

With the release of the Republican proposed tax plan, Reuben Fischer-Baum and Kevin Schaul look at where deductions and tax credits are currently. Enter your adjusted gross income or click and drag a slider and the areas shift in the chart to show the most beneficial, given the income. Naturally, I now await to see how this contrasts with the plan. Tags: taxes, Washington Post

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