14-Aug-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Click on PDF or Excel link above for additional tables containing more detail and breakdowns by filing status and demographic groups.
Table T08-0202
Senator Obama's Tax Proposals of August 14, 2008: Economic Advisers' Version (No Payroll Surtax)
1
Distribution of Federal Tax Change by Cash Income Level, 2009
Summary Table
Cash Income Level
(thousands of 2008
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units
With Tax Cut
67.1
69.1
85.1
90.6
93.0
91.8
86.9
83.6
75.0
11.6
4.2
81.3
3
With Tax
Increase
6.5
9.0
8.7
6.9
5.6
7.5
11.8
14.4
24.8
88.3
95.8
10.4
Percent
Change in
After-Tax
Income 4
8.2
4.6
3.8
3.2
2.9
2.2
1.7
2.0
0.7
-3.9
-7.9
0.6
Share of Total
Federal Tax
Change
15.4
32.4
33.8
28.9
26.0
48.6
35.1
84.4
18.1
-39.3
-183.1
100.0
Average
Federal Tax
Change ($)
-444
-668
-860
-997
-1,098
-1,114
-1,236
-2,125
-1,591
19,745
175,117
-331
Average Federal Tax Rate 5
Change (%
Points)
-7.8
-4.4
-3.4
-2.8
-2.4
-1.8
-1.4
-1.5
-0.5
2.8
5.5
-0.4
Under the
Proposal
-2.8
0.2
6.0
10.5
13.6
16.3
18.4
21.3
25.5
29.7
35.8
21.3
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
29.9
Proposal:
4.0
(1) Calendar year. Baseline is current law. For a detailed description of the proposals see Tables T08-0192 and T08-0193. Assumes all provisions are fully phased
in.
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and
estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average
cash income.
14-Aug-08
PRELIMINARY RESULTS
Click on PDF or Excel link above for additional tables containing more detail and breakdowns by filing status and demographic groups.
http://www.taxpolicycenter.org
Table T08-0202
Senator Obama's Tax Proposals of August 14, 2008: Economic Advisers' Version (No Payroll Surtax)
1
Distribution of Federal Tax Change by Cash Income Level, 2009
Detail Table
Cash Income Level
(thousands of 2008
2
dollars)
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units 3
With Tax Cut
With Tax
Increase
67.1
69.1
85.1
90.6
93.0
91.8
86.9
83.6
75.0
11.6
4.2
81.3
6.5
9.0
8.7
6.9
5.6
7.5
11.8
14.4
24.8
88.3
95.8
10.4
Percent
Change in
After-Tax
4
Income
8.2
4.6
3.8
3.2
2.9
2.2
1.7
2.0
0.7
-3.9
-7.9
0.6
Share of Total
Federal Tax
Change
15.4
32.4
33.8
28.9
26.0
48.6
35.1
84.4
18.1
-39.3
-183.1
100.0
Average Federal Tax Change
Dollars
-444
-668
-860
-997
-1,098
-1,114
-1,236
-2,125
-1,591
19,745
175,117
-331
Percent
-156.8
-95.3
-36.3
-21.0
-15.0
-9.8
-7.0
-6.7
-2.1
10.6
18.0
-2.0
Share of Federal Taxes
Change (%
Points)
-0.3
-0.7
-0.7
-0.5
-0.5
-0.8
-0.5
-1.2
0.0
1.0
4.2
0.0
Under the
Proposal
-0.1
0.0
1.2
2.2
3.0
9.2
9.6
24.1
17.4
8.5
24.7
100.0
5
Average Federal Tax Rate
Change (%
Points)
-7.8
-4.4
-3.4
-2.8
-2.4
-1.8
-1.4
-1.5
-0.5
2.8
5.5
-0.4
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2009
Cash Income Level
(thousands of 2008
2
dollars)
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Number
(thousands)
17,204
24,101
19,493
14,384
11,749
21,662
14,107
19,712
5,636
989
519
150,241
Percent of
Total
11.5
16.0
13.0
9.6
7.8
14.4
9.4
13.1
3.8
0.7
0.4
100.0
Average
Income
(Dollars)
5,704
15,181
25,314
35,555
45,838
63,039
88,790
138,154
291,886
695,069
3,199,967
75,289
Average
Federal Tax
Burden
(Dollars)
283
702
2,368
4,744
7,317
11,364
17,553
31,521
76,093
186,664
970,835
16,358
Average After4
Tax Income
(Dollars)
5,421
14,479
22,947
30,811
38,521
51,674
71,236
106,633
215,793
508,405
2,229,132
58,930
Average
Federal Tax
5
Rate
5.0
4.6
9.4
13.3
16.0
18.0
19.8
22.8
26.1
26.9
30.3
21.7
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
0.9
3.2
4.4
4.5
4.8
12.1
11.1
24.1
14.5
6.1
14.7
100.0
1.1
3.9
5.1
5.0
5.1
12.6
11.4
23.7
13.7
5.7
13.1
100.0
0.2
0.7
1.9
2.8
3.5
10.0
10.1
25.3
17.5
7.5
20.5
100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
29.9
Proposal:
4.0
(1) Calendar year. Baseline is current law. For a detailed description of the proposals, see tables T08-0192 and T08-0193. Assumes all proposals are fully phased in.
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
Under the
Proposal
-2.8
0.2
6.0
10.5
13.6
16.3
18.4
21.3
25.5
29.7
35.8
21.3
14-Aug-08
PRELIMINARY RESULTS
Click on PDF or Excel link above for additional tables containing more detail and breakdowns by filing status and demographic groups.
http://www.taxpolicycenter.org
Table T08-0202
Senator Obama's Tax Proposals of August 14, 2008: Economic Advisers' Version (No Payroll Surtax)
1
Distribution of Federal Tax Change by Cash Income Level, 2009
Detail Table - Single Tax Units
Cash Income Level
(thousands of 2008
2
dollars)
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units 3
With Tax Cut
With Tax
Increase
64.6
60.1
81.5
90.8
94.4
90.1
71.5
38.2
35.0
6.0
1.2
73.0
6.7
11.7
11.4
7.5
4.7
9.1
24.2
49.7
63.8
93.8
98.7
12.6
Percent
Change in
After-Tax
4
Income
7.8
3.9
3.2
2.8
2.5
1.6
0.4
-0.3
-2.0
-5.3
-8.8
0.8
Share of Total
Federal Tax
Change
30.0
46.7
39.0
30.7
28.3
37.6
4.4
-5.9
-18.0
-19.9
-73.0
100.0
Average Federal Tax Change
Dollars
-413
-542
-683
-812
-902
-796
-235
347
4,253
26,392
183,620
-266
Percent
-96.2
-43.4
-18.8
-12.6
-10.0
-5.9
-1.1
1.1
5.4
13.4
17.1
-3.0
Share of Federal Taxes
Change (%
Points)
-0.9
-1.3
-1.0
-0.7
-0.6
-0.6
0.2
0.7
0.8
0.7
2.6
0.0
Under the
Proposal
0.0
1.9
5.2
6.5
7.7
18.4
11.9
17.4
10.6
5.1
15.2
100.0
5
Average Federal Tax Rate
Change (%
Points)
-7.2
-3.6
-2.7
-2.3
-2.0
-1.3
-0.3
0.3
1.4
3.8
5.8
-0.6
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2009
Cash Income Level
(thousands of 2008
2
dollars)
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Number
(thousands)
Percent of
Total
12,556
14,909
9,879
6,530
5,421
8,162
3,264
2,958
730
130
69
64,958
19.3
23.0
15.2
10.1
8.4
12.6
5.0
4.6
1.1
0.2
0.1
100.0
Average
Income
(Dollars)
5,704
15,017
25,243
35,566
45,797
62,150
87,974
134,418
295,280
694,203
3,156,727
42,053
Average
Federal Tax
Burden
(Dollars)
429
1,248
3,641
6,474
8,980
13,567
20,907
33,072
78,380
197,611
1,074,908
9,009
Average After4
Tax Income
(Dollars)
5,275
13,769
21,602
29,093
36,817
48,582
67,067
101,346
216,900
496,592
2,081,819
33,043
Average
Federal Tax
5
Rate
7.5
8.3
14.4
18.2
19.6
21.8
23.8
24.6
26.5
28.5
34.1
21.4
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
2.6
8.2
9.1
8.5
9.1
18.6
10.5
14.6
7.9
3.3
7.9
100.0
3.1
9.6
9.9
8.9
9.3
18.5
10.2
14.0
7.4
3.0
6.7
100.0
0.9
3.2
6.2
7.2
8.3
18.9
11.7
16.7
9.8
4.4
12.6
100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
29.9
Proposal:
4.0
(1) Calendar year. Baseline is current law. For a detailed description of the proposals, see tables T08-0192 and T08-0193. Assumes all proposals are fully phased in.
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
Under the
Proposal
0.3
4.7
11.7
15.9
17.6
20.6
23.5
24.9
28.0
32.3
39.9
20.8
14-Aug-08
PRELIMINARY RESULTS
Click on PDF or Excel link above for additional tables containing more detail and breakdowns by filing status and demographic groups.
http://www.taxpolicycenter.org
Table T08-0202
Senator Obama's Tax Proposals of August 14, 2008: Economic Advisers' Version (No Payroll Surtax)
1
Distribution of Federal Tax Change by Cash Income Level, 2009
Detail Table - Married Tax Units Filing Jointly
Cash Income Level
(thousands of 2008
2
dollars)
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units 3
With Tax Cut
With Tax
Increase
66.1
74.8
80.8
82.8
87.5
90.8
91.1
91.8
81.8
12.8
4.7
85.1
9.6
8.4
10.3
11.7
9.7
8.5
8.6
8.1
18.2
87.1
95.2
11.4
Percent
Change in
After-Tax
4
Income
8.3
4.6
4.1
3.5
3.4
2.4
2.1
2.4
1.2
-3.6
-7.7
0.2
Share of Total
Federal Tax
Change
7.7
26.5
44.9
43.6
48.0
122.2
138.7
396.1
120.2
-147.3
-700.0
100.0
Average Federal Tax Change
Dollars
-384
-701
-984
-1,151
-1,367
-1,316
-1,548
-2,611
-2,652
18,572
169,894
-175
Percent
-154.5
-155.5
-79.1
-40.1
-26.3
-13.9
-9.6
-8.4
-3.5
10.1
18.1
-0.6
Share of Federal Taxes
Change (%
Points)
-0.1
-0.2
-0.3
-0.3
-0.3
-0.7
-0.8
-2.3
-0.6
1.0
4.5
0.0
Under the
Proposal
0.0
-0.1
0.1
0.4
0.8
4.7
8.1
26.9
20.6
10.0
28.3
100.0
5
Average Federal Tax Rate
Change (%
Points)
-7.8
-4.5
-3.9
-3.2
-3.0
-2.1
-1.7
-1.9
-0.9
2.7
5.4
-0.1
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2009
Cash Income Level
(thousands of 2008
2
dollars)
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Number
(thousands)
Percent of
Total
2,093
3,937
4,757
3,946
3,659
9,688
9,341
15,817
4,725
827
430
59,479
3.5
6.6
8.0
6.6
6.2
16.3
15.7
26.6
7.9
1.4
0.7
100.0
Average
Income
(Dollars)
4,904
15,709
25,357
35,641
45,966
64,204
89,292
139,272
291,151
695,396
3,148,057
125,155
Average
Federal Tax
Burden
(Dollars)
249
451
1,245
2,874
5,207
9,479
16,147
31,189
75,739
184,872
936,517
28,407
Average After4
Tax Income
(Dollars)
4,655
15,258
24,112
32,767
40,759
54,725
73,145
108,083
215,412
510,524
2,211,540
96,748
Average
Federal Tax
5
Rate
5.1
2.9
4.9
8.1
11.3
14.8
18.1
22.4
26.0
26.6
29.8
22.7
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
0.1
0.8
1.6
1.9
2.3
8.4
11.2
29.6
18.5
7.7
18.2
100.0
0.2
1.0
2.0
2.3
2.6
9.2
11.9
29.7
17.7
7.3
16.5
100.0
0.0
0.1
0.4
0.7
1.1
5.4
8.9
29.2
21.2
9.1
23.8
100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
29.9
Proposal:
4.0
(1) Calendar year. Baseline is current law. For a detailed description of the proposals, see tables T08-0192 and T08-0193. Assumes all proposals are fully phased in.
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
Under the
Proposal
-2.8
-1.6
1.0
4.8
8.4
12.7
16.4
20.5
25.1
29.3
35.2
22.6
14-Aug-08
PRELIMINARY RESULTS
Click on PDF or Excel link above for additional tables containing more detail and breakdowns by filing status and demographic groups.
http://www.taxpolicycenter.org
Table T08-0202
Senator Obama's Tax Proposals of August 14, 2008: Economic Advisers' Version (No Payroll Surtax)
1
Distribution of Federal Tax Change by Cash Income Level, 2009
Detail Table - Head of Household Tax Units
Cash Income Level
(thousands of 2008
2
dollars)
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units 3
With Tax Cut
With Tax
Increase
79.8
90.1
96.5
98.0
97.9
97.9
94.1
89.4
64.6
2.9
0.8
93.2
3.1
1.4
1.5
0.9
1.8
1.7
4.8
8.2
35.1
95.7
98.7
2.4
Percent
Change in
After-Tax
4
Income
9.8
6.4
4.6
3.7
2.8
2.4
2.1
1.8
-0.7
-4.0
-8.0
2.9
Share of Total
Federal Tax
Change
6.9
21.9
21.9
18.0
11.1
17.4
7.7
5.9
-0.9
-1.8
-8.1
100.0
Average Federal Tax Change
Dollars
-671
-1,030
-1,132
-1,187
-1,117
-1,238
-1,437
-1,739
1,601
19,914
171,856
-1,004
Percent
144.7
124.1
-187.2
-34.5
-17.2
-11.2
-7.7
-5.5
2.2
10.9
18.4
-17.6
Share of Federal Taxes
Change (%
Points)
5
Average Federal Tax Rate
Under the
Proposal
Change (%
Points)
Under the
Proposal
-2.5
-8.4
-2.2
7.3
11.3
29.4
19.6
21.3
9.2
3.8
11.1
100.0
-10.5
-6.8
-4.5
-3.4
-2.4
-2.0
-1.6
-1.3
0.5
2.9
5.6
-2.5
-17.7
-12.2
-2.1
6.4
11.7
15.9
19.6
22.8
25.6
29.6
36.0
11.7
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
1.6
8.1
12.2
13.4
11.3
21.7
11.7
10.9
4.2
1.5
3.6
100.0
2.1
9.9
13.9
14.1
11.3
20.8
10.7
9.7
3.7
1.3
2.9
100.0
-0.8
-3.1
2.1
9.2
11.3
27.3
17.5
18.6
7.4
2.8
7.7
100.0
-1.7
-5.3
-4.2
-1.9
0.0
2.1
2.1
2.7
1.8
1.0
3.4
0.0
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2009
Cash Income Level
(thousands of 2008
2
dollars)
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Number
(thousands)
Percent of
Total
2,406
4,961
4,512
3,554
2,315
3,290
1,254
786
132
21
11
23,292
10.3
21.3
19.4
15.3
9.9
14.1
5.4
3.4
0.6
0.1
0.1
100.0
Average
Income
(Dollars)
6,412
15,257
25,403
35,401
45,811
61,934
87,576
130,519
298,070
683,864
3,070,023
40,351
Average
Federal Tax
Burden
(Dollars)
-464
-830
605
3,438
6,485
11,052
18,587
31,457
74,573
182,579
932,865
5,718
Average After4
Tax Income
(Dollars)
6,876
16,087
24,799
31,963
39,326
50,882
68,989
99,062
223,497
501,285
2,137,158
34,633
Average
Federal Tax
5
Rate
-7.2
-5.4
2.4
9.7
14.2
17.9
21.2
24.1
25.0
26.7
30.4
14.2
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
29.9
Proposal:
4.0
(1) Calendar year. Baseline is current law. For a detailed description of the proposals, see tables T08-0192 and T08-0193. Assumes all proposals are fully phased in.
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
14-Aug-08
PRELIMINARY RESULTS
Click on PDF or Excel link above for additional tables containing more detail and breakdowns by filing status and demographic groups.
http://www.taxpolicycenter.org
Table T08-0202
Senator Obama's Tax Proposals of August 14, 2008: Economic Advisers' Version (No Payroll Surtax)
Distribution of Federal Tax Change by Cash Income Level, 2009 1
Detail Table - Tax Units with Children
Cash Income Level
(thousands of 2008
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units 3
With Tax Cut
With Tax
Increase
83.6
97.0
99.0
99.1
99.1
98.6
97.9
97.3
88.3
9.8
1.5
95.5
1.1
0.6
0.7
0.7
0.8
1.2
1.9
2.4
11.7
90.0
98.5
3.2
Percent Change
in After-Tax
Income 4
11.8
6.6
5.2
4.5
3.8
2.9
2.8
3.3
1.8
-3.5
-7.8
1.4
Share of Total
Federal Tax
Change
4.3
12.3
15.0
13.8
11.5
23.2
23.6
65.0
20.4
-15.5
-73.4
100.0
Average Federal Tax Change
Dollars
-784
-1,113
-1,331
-1,459
-1,523
-1,560
-2,010
-3,559
-3,784
17,501
172,560
-1,036
Percent
115.0
79.0
1,379.5
-51.8
-26.2
-15.4
-11.9
-11.2
-4.9
9.2
17.8
-5.1
Share of Federal Taxes
Change (%
Points)
Average Federal Tax Rate 5
Under the
Proposal
Change (%
Points)
Under the
Proposal
-0.4
-1.5
-0.9
0.7
1.7
6.8
9.3
27.5
21.0
9.8
25.9
100.0
-13.1
-7.2
-5.2
-4.1
-3.3
-2.5
-2.3
-2.6
-1.3
2.5
5.4
-1.1
-24.5
-16.3
-5.6
3.8
9.4
13.6
16.7
20.3
25.3
30.0
35.9
20.4
-0.2
-0.7
-0.8
-0.7
-0.5
-0.8
-0.7
-1.9
0.0
1.3
5.0
0.0
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2009 1
Cash Income Level
(thousands of 2008
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Number
(thousands)
Percent of
Total
2,701
5,494
5,603
4,726
3,756
7,394
5,839
9,103
2,690
442
212
48,094
5.6
11.4
11.7
9.8
7.8
15.4
12.1
18.9
5.6
0.9
0.4
100.0
Average
Income
(Dollars)
5,981
15,478
25,399
35,550
45,850
63,220
89,123
139,015
288,713
693,043
3,179,388
95,281
Average
Federal Tax
Burden
(Dollars)
-682
-1,408
-97
2,818
5,815
10,145
16,866
31,823
76,858
190,429
970,051
20,498
Average AfterTax Income 4
(Dollars)
6,663
16,886
25,495
32,732
40,036
53,076
72,257
107,192
211,855
502,614
2,209,337
74,782
Average
Federal Tax
Rate 5
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
-11.4
-9.1
-0.4
7.9
12.7
16.1
18.9
22.9
26.6
27.5
30.5
21.5
0.4
1.9
3.1
3.7
3.8
10.2
11.4
27.6
17.0
6.7
14.7
100.0
0.5
2.6
4.0
4.3
4.2
10.9
11.7
27.1
15.8
6.2
13.0
100.0
-0.2
-0.8
-0.1
1.4
2.2
7.6
10.0
29.4
21.0
8.6
20.9
100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
29.9
Proposal:
4.0
Note: Tax units with children are those claiming an exemption for children at home or away from home.
(1) Calendar year. Baseline is current law. For a detailed description of the proposals, see tables T08-0192 and T08-0193. Assumes all proposals are fully phased in.
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
14-Aug-08
PRELIMINARY RESULTS
Click on PDF or Excel link above for additional tables containing more detail and breakdowns by filing status and demographic groups.
http://www.taxpolicycenter.org
Table T08-0202
Senator Obama's Tax Proposals of August 14, 2008: Economic Advisers' Version (No Payroll Surtax)
Distribution of Federal Tax Change by Cash Income Level, 2009 1
Detail Table - Elderly Tax Units
Cash Income Level
(thousands of 2008
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units 3
With Tax Cut
With Tax
Increase
19.7
24.7
49.8
59.5
70.5
68.2
54.4
52.1
43.7
10.2
4.9
45.5
19.8
23.5
29.7
30.7
24.2
29.5
43.1
46.5
56.2
89.6
95.0
31.9
Percent Change
in After-Tax
Income 4
0.8
0.6
1.1
1.4
2.9
1.4
0.1
-0.2
-1.4
-5.2
-8.4
-1.4
Share of Total
Federal Tax
Change
-0.6
-2.2
-4.4
-4.0
-8.7
-13.2
-0.7
3.0
13.8
23.9
92.9
100.0
Average Federal Tax Change
Dollars
-53
-82
-268
-452
-1,236
-789
-71
230
3,125
26,568
180,545
856
Percent
-29.9
-20.4
-21.0
-21.3
-34.7
-10.8
-0.6
0.9
4.4
14.1
18.5
6.0
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
0.0
-0.2
-0.3
-0.3
-0.6
-1.2
-0.5
-1.0
-0.3
0.8
3.6
0.0
0.1
0.5
1.0
0.8
0.9
6.2
7.6
19.4
18.7
11.0
33.8
100.0
Average Federal Tax Rate 5
Change (%
Points)
-0.8
-0.5
-1.1
-1.3
-2.7
-1.2
-0.1
0.2
1.1
3.8
5.8
1.1
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2009 1
Cash Income Level
(thousands of 2008
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Number
(thousands)
Percent of
Total
2,765
6,689
4,053
2,142
1,714
4,095
2,542
3,191
1,082
221
126
28,639
9.7
23.4
14.2
7.5
6.0
14.3
8.9
11.1
3.8
0.8
0.4
100.0
Average
Income
(Dollars)
6,577
15,129
24,891
35,242
46,021
63,445
88,251
137,801
298,445
696,175
3,134,426
75,721
Average
Federal Tax
Burden
(Dollars)
177
399
1,275
2,124
3,564
7,324
12,934
26,024
71,553
188,080
974,466
14,211
Average AfterTax Income 4
(Dollars)
6,400
14,730
23,616
33,118
42,457
56,122
75,317
111,776
226,893
508,095
2,159,960
61,511
Average
Federal Tax
Rate 5
2.7
2.6
5.1
6.0
7.7
11.5
14.7
18.9
24.0
27.0
31.1
18.8
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
0.8
4.7
4.7
3.5
3.6
12.0
10.3
20.3
14.9
7.1
18.2
100.0
1.0
5.6
5.4
4.0
4.1
13.1
10.9
20.3
13.9
6.4
15.5
100.0
0.1
0.7
1.3
1.1
1.5
7.4
8.1
20.4
19.0
10.2
30.2
100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
29.9
Proposal:
4.0
Note: Elderly tax units are those with either head or spouse (if filing jointly) age 65 or older.
(1) Calendar year. Baseline is current law. For a detailed description of the proposals, see tables T08-0192 and T08-0193. Assumes all proposals are fully phased in.
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
Under the
Proposal
1.9
2.1
4.1
4.8
5.1
10.3
14.6
19.1
25.0
30.8
36.9
19.9