Middle-income tax rates: trends and prospects

The federal tax liabilities of different income groups change constantly in response to new tax laws and shifting economic circumstances. For example, in recent years, Congress has lowered individual income tax rates, increased child and dependent care credits, and reduced taxes on dividends and capital gains. Much of the economic analysis and political debate about these federal tax changes concerns the impact on upper- or lower-income groups, while the impact on middle-income taxpayers sometimes gets forgotten. ; The trends in tax rates can be difficult for middle-income taxpayers, themselves, to discern. Modest revisions to the federal tax code may hardly be noticed in any given year; yet these revisions could build over time into a large change in the middle-income tax rate. Some taxpayers may also find it difficult to determine whether changes in their tax liability are due to legislated changes in the federal tax code or shifts in their own circumstances. ; Davig and Garner define the effective federal tax rate for middle-income households and discuss the problems in computing this measure. They find that the effective federal tax rate facing middle-income households has trended downward over the last 25 years and is currently low by historical standards. Moreover, the composition of middle-income tax liabilities over this period has shifted away from individual income taxes toward payroll taxes. Finally, they show that under current tax law middle-income taxes are projected to rise in the future.Taxation

Cosmic-Ray Induced Diffuse Emissions from the Milky Way and Local Group Galaxies

Cosmic rays fill up the entire volume of galaxies, providing an important source of heating and ionisation of the interstellar medium, and may play a significant role in the regulation of star formation and galactic evolution. Diffuse emissions from radio to high-energy gamma rays (> 100 MeV) arising from various interactions between cosmic rays and the interstellar medium, interstellar radiation field, and magnetic field, are currently the best way to trace the intensities and spectra of cosmic rays in the Milky Way and other galaxies. In this contribution, I describe our recent work to model the full spectral energy distribution of galaxies like the Milky Way from radio to gamma-ray energies. The application to other galaxies, in particular the Magellanic Clouds and M31 that are detected in high-energy gamma-rays by the Fermi-LAT, is also discussed.Comment: Contribution to "The Spectral Energy Distribution of Galaxies" Proceedings IAU Symposium No. 284, 2011, eds. R.J. Tuffs & C.C.Popescu. 4 pages with 4 figure