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Published in:
2013 | OriginalPaper | Chapter
6. Employment Income
The Most Highly Taxed Income of All
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Abstract
Employment income, known as earned income in the tax code, is taxed at a higher overall rate than any other income, except for sources of income that have penalties attached to them. It is unfortunate (though by design) that this is the case, since employment income (salaries, wages, and tips) is by far the most common type of income that exists. Individuals and families struggling to make ends meet and trying to get ahead are the ones hit the hardest by this part of the tax code.