Why being taxed, say 22% of your income, is a lot more complicated than you may assume. Here's a breakdown of what you actually pay in income taxes.
Even before the U.S. economy was slammed by a pandemic, the typical American household’s income grew at a slower pace in more than half of the states under Donald Trump than in the years leading up to his presidency, according to a new Capital & Main analysis of U.S. Census data.
Those states include several key battlegrounds, undercutting one of Trump’s central campaign themes: that before COVID-19 his actions led to an economy he has described as "the best it has ever been.”
Pennsylvania saw its typical household’s income growth slow from 6.2% in Obama’s last three years to 4.7% in Trump’s first three years, while median household income growth in Wisconsin declined from 7.1% to 6%.
» Subscribe to USA TODAY:
» Watch more on this and other topics from USA TODAY:
» USA TODAY delivers current local and national news, sports, entertainment, finance, technology, and more through award-winning journalism, photos, videos and VR.
#taxbrackets #incometax #justthefaqs