Off Track: Income Tax Illustrated

Income taxes have been in the national spotlight this fall with presidential candidates on both sides of the aisle offering proposals that would fundamentally alter the current income tax code. Because tax policy has been a key issue for the campaigns, it is crucial that those listening to the candidates’ tax proposals have a fundamental understanding of what income actually looks like in America and how it is taxed.

Unfortunately, income taxes are often misunderstood or misrepresented. Although Americans spend hours filing their income tax returns each year, this process offers only a small glimpse of the entire federal income tax system. Combine that with the proliferation of misinformation about income and income taxes, and it can be very difficult for taxpayers and policymakers alike to stay well informed.

Income Taxes Illustrated: A Visual Guide to Income in America and How It Is Taxed offers the context needed to understand the history of income in the United States, how it has been taxed, and what the economic effects of those taxes have been.