A defining characteristic of an individual income tax system is its degree of progressivity. The United States has a rather progressive income tax. This means that the average tax rate paid by an individual increases as...
- Money Magazine Blog Highlights Tax Foundation Map on Top ...
Money Magazine Blog Highlights Tax Foundation Map on Top Effective Marginal Tax Rates Under House Health Care Surtax
By Ana Patricia Ferrey
Personal finance from around the Web Tuesday:
- The Federal Reserve is proposing new rules to protect gift card consumers from exorbitant fees and and expiration dates. While the exact date these new rules will go into effect remains unknown, it most likely won't be until next summer - after the upcoming gift-card season. [Federal Reserve, Bucks]
- Online microlending has been all the rave in recent years. One of the most popular is Kiva, which allows you to make loans to low-income entrepreneurs in developing countries. But it is no longer practical for it to be true "person-to-person lending." [My Money Blog]
- With the passing of the health care reform bill comes the passing of a 5.4 % surtax aimed at high-income tax returns. The Tax Foundation has created a map that shows the top tax rates in different states under the new plan. [Tax Policy Blog]
Maryland Gov. Martin O’Malley’s office took a swipe at a grass-roots citizens’ group over a report claiming people are leaving Maryland for Virginia, beginning a fight in cyberspace between the governor, the citizens’ group and an established...
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