Nationwide tax rates for single and married filers. The marginal tax rate.
Really interesting data provided by Visualizing Economics regarding various tax rate structures across different scenarios. The data is put together using 2009 IRS data and gives us an interesting look at various tax scenarios in the U.S. We find a mix of progressive, regressive, and flat taxes across a multitude of fields. It also highlights the combination of the marginal tax rate which is a blend of the various tax items. Of course, the scenarios will be different depending on your state level taxes but these do provide an interesting glimpse of how the U.S. structures taxes.
Breaking down taxes provides a look at how money is funneled throughout the U.S. economy and what sources payout the most to the government:
If you are looking for other scenarios the site provides other graphics and scenarios. Definitely worth a look:
- single with no children
- married with no children, two incomes
- married with no children, one income
- head of household with one child
- married filing separately
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Money Desktop – Finding money on your desktop during the current economic crisis.
I realize that finding money on your desktop might seem like an odd thing to say. However in this economic crisis finding money on your desktop is usually a beneficial way to save money. Someone was asking me about a “money desktop” that revolves around finding good and usually free programs to maximize your financial success. Normally all the programs that sell for your desktop are no longer necessary given the amount of free money management programs online. With the housing crisis and banks sucking so much money already in fees and charges it is useful to dig up your computer money desktop and get things squared away for a successful financial future. Sadly, the public has been pushed into believing that the only good financial advice comes from experts who usually command expensive fees.
The first great program available online is Mint:
Mint is a great way to get all your finances under control. Mint serves as a monthly live balance sheet and can be integrated with all your only accounts. For example, if you have two savings accounts and 3 credit cards you can synchronize them all in one place with Mint. I’ve used this site since it started and it really has all the bells and whistles you will need to manage your money on your desktop. You can run as many reports as you would like in virtually all kinds of scenarios. People might be concerned about privacy but really it makes more sense to go to one site for all your information instead of checking 5 to 15 sites individually.
Another great way to manage your budget and money on your desktop is through Excel. Excel? It is likely that you have Excel and if you don’t you can use Google Docs and use their spreadsheet. You want to outline your financial goals and contingency plans for the future. It is amazing that with Google Desktop applications you are getting the power of software that only a few years ago would cost you thousands of dollars.
Finally cleaning up your money desktop you probably want to focus on having safe and secure bank. You can verify your bank at the FDIC or use Bank Rate to see the health of your local bank. Today every bit helps and so much information is already out there.
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