8‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0058
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Law
Distribution of Federal Tax Change by Cash Income Level, 2012 1
Summary Table
Cash Income Level (thousands of 2009 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
0.0
0.2
2.1
6.0
12.6
24.6
54.5
80.4
92.8
71.1
35.5
24.4
With Tax Increase
0.0
0.0
0.0
0.0
0.1
0.0
0.2
0.4
0.3
0.8
0.8
0.1
Percent Change in After‐Tax Income 4
0.0
0.0
0.0
0.1
0.3
0.7
1.6
2.4
2.5
0.2
0.0
1.2
Share of Total Federal Tax Change
Average Federal Tax Change ($)
0.0
0.0
0.1
0.3
1.2
7.1
14.5
46.2
29.2
1.1
0.2
100.0
0
0
‐6
‐22
‐100
‐344
‐1,123
‐2,582
‐5,541
‐1,165
‐487
‐697
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
0.0
‐0.1
‐0.2
‐0.5
‐1.3
‐1.8
‐1.9
‐0.2
0.0
‐0.9
Under the Proposal
2.7
2.9
8.0
12.5
15.1
17.4
19.1
21.7
24.2
25.4
29.8
20.5
Source: Urban‐Brookings Tax Policy Center Microsimulation Model (version 0509‐7).
Number of AMT Taxpayers (millions). Baseline: 37.1 Proposal: 4.5
(1) Calendar year. Baseline is current law. Proposal would allow non‐refundable credits against tentative AMT and index the AMT exemption, rate bracket thresholds, and phaseout‐out exemption threshold to inflation after 2011.
(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. 8‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0058
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Law
1
Distribution of Federal Tax Change by Cash Income Level, 2012 Detail Table
Cash Income Level (thousands of 2009 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
0.0
0.2
2.1
6.0
12.6
24.6
54.5
80.4
92.8
71.1
35.5
24.4
0.0
0.0
0.0
0.0
0.1
0.0
0.2
0.4
0.3
0.8
0.8
0.1
Percent Change in After‐Tax Income 4
0.0
0.0
0.0
0.1
0.3
0.7
1.6
2.4
2.5
0.2
0.0
1.2
Share of Total Federal Tax Change
0.0
0.0
0.1
0.3
1.2
7.1
14.5
46.2
29.2
1.1
0.2
100.0
Average Federal Tax Change
Dollars
Percent
0
0
‐6
‐22
‐100
‐344
‐1,123
‐2,582
‐5,541
‐1,165
‐487
‐697
0.0
‐0.1
‐0.3
‐0.5
‐1.4
‐3.0
‐6.1
‐7.8
‐7.2
‐0.7
‐0.1
‐4.3
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.1
0.1
0.1
0.2
‐0.2
‐0.9
‐0.5
0.3
0.9
0.0
Under the Proposal
0.1
0.5
1.9
3.0
3.8
10.5
10.1
24.8
17.2
7.7
20.3
100.0
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
0.0
‐0.1
‐0.2
‐0.5
‐1.3
‐1.8
‐1.9
‐0.2
0.0
‐0.9
Under the Proposal
2.7
2.9
8.0
12.5
15.1
17.4
19.1
21.7
24.2
25.4
29.8
20.5
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2012 Cash Income Level (thousands of 2009 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
17,312
24,697
21,652
16,234
12,917
22,699
14,156
19,612
5,778
1,040
527
157,348
11.0
15.7
13.8
10.3
8.2
14.4
9.0
12.5
3.7
0.7
0.3
100.0
Average Income (Dollars)
5,740
15,548
25,815
36,228
46,559
64,055
90,186
141,017
297,117
704,874
3,114,806
74,905
Average Federal Tax Burden (Dollars)
156
446
2,065
4,543
7,148
11,500
18,348
33,164
77,435
180,518
928,825
16,040
Average After‐
Tax Income 4 (Dollars)
5,584
15,102
23,749
31,685
39,411
52,555
71,838
107,853
219,682
524,356
2,185,981
58,865
Average Federal Tax Rate 5
2.7
2.9
8.0
12.5
15.4
18.0
20.3
23.5
26.1
25.6
29.8
21.4
Share of Pre‐
Tax Income
Share of Post‐
Tax Income
Share of Federal Taxes
Percent of Total
Percent of Total
Percent of Total
0.8
3.3
4.7
5.0
5.1
12.3
10.8
23.5
14.6
6.2
13.9
100.0
1.0
4.0
5.6
5.6
5.5
12.9
11.0
22.8
13.7
5.9
12.4
100.0
0.1
0.4
1.8
2.9
3.7
10.3
10.3
25.8
17.7
7.4
19.4
100.0
Source: Urban‐Brookings Tax Policy Center Microsimulation Model (version 0509‐7).
Number of AMT Taxpayers (millions). Baseline: 37.1 Proposal: 4.5
(1) Calendar year. Baseline is current law. Proposal would allow non‐refundable credits against tentative AMT and index the AMT exemption, rate bracket thresholds, and phaseout‐out exemption threshold to inflation after
2011.
(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. 8‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0058
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Law
1
Distribution of Federal Tax Change by Cash Income Level, 2012 Detail Table ‐ Single Tax Units
Cash Income Level (thousands of 2009 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
0.0
0.1
0.3
0.2
0.8
3.6
8.1
27.1
71.0
39.1
27.2
3.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1.3
0.4
0.4
0.0
0.1
Percent Change in After‐Tax Income 4
0.0
0.0
0.0
0.0
0.0
0.1
0.2
0.5
0.8
0.1
0.0
0.2
Share of Total Federal Tax Change
0.0
0.1
0.1
0.1
1.0
9.1
11.4
39.3
37.5
1.1
0.3
100.0
Average Federal Tax Change
Dollars
Percent
0
0
0
0
‐7
‐42
‐134
‐490
‐1,901
‐333
‐158
‐57
0.0
0.0
0.0
0.0
‐0.1
‐0.3
‐0.6
‐1.5
‐2.5
‐0.2
0.0
‐0.6
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
0.1
0.1
0.1
0.0
‐0.1
‐0.2
0.0
0.1
0.0
Under the Proposal
0.8
3.0
6.3
7.8
8.7
19.2
11.6
17.3
9.5
4.1
11.5
100.0
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
0.0
0.0
0.0
‐0.1
‐0.2
‐0.4
‐0.6
‐0.1
0.0
‐0.1
Under the Proposal
6.9
7.8
13.1
17.1
19.1
21.5
23.6
24.0
24.7
26.7
31.7
20.5
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2012 Cash Income Level (thousands of 2009 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
12,339
15,074
11,420
7,675
5,979
8,606
3,332
3,161
777
135
75
68,932
17.9
21.9
16.6
11.1
8.7
12.5
4.8
4.6
1.1
0.2
0.1
100.0
Average Income (Dollars)
5,702
15,388
25,653
36,154
46,529
63,176
89,421
138,347
301,624
699,552
2,969,061
43,096
Average Federal Tax Burden (Dollars)
395
1,192
3,347
6,189
8,886
13,595
21,265
33,756
76,359
186,739
941,733
8,875
Average After‐
Tax Income 4 (Dollars)
5,307
14,196
22,306
29,965
37,643
49,581
68,156
104,592
225,265
512,813
2,027,328
34,221
Average Federal Tax Rate 5
6.9
7.8
13.1
17.1
19.1
21.5
23.8
24.4
25.3
26.7
31.7
20.6
Share of Pre‐
Tax Income
Share of Post‐
Tax Income
Share of Federal Taxes
Percent of Total
Percent of Total
Percent of Total
2.4
7.8
9.9
9.3
9.4
18.3
10.0
14.7
7.9
3.2
7.5
100.0
2.8
9.1
10.8
9.8
9.5
18.1
9.6
14.0
7.4
2.9
6.4
100.0
0.8
2.9
6.3
7.8
8.7
19.1
11.6
17.4
9.7
4.1
11.5
100.0
Source: Urban‐Brookings Tax Policy Center Microsimulation Model (version 0509‐7).
(1) Calendar year. Baseline is current law. Proposal would allow non‐refundable credits against tentative AMT and index the AMT exemption, rate bracket thresholds, and phaseout‐out exemption threshold to inflation after
2011.
(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. 8‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0058
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Law
1
Distribution of Federal Tax Change by Cash Income Level, 2012 Detail Table ‐ Married Tax Units Filing Jointly
Cash Income Level (thousands of 2009 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
0.0
0.0
0.9
5.7
8.9
26.0
65.3
90.6
96.4
77.0
37.6
47.1
0.0
0.0
0.0
0.0
0.1
0.1
0.3
0.2
0.2
0.2
0.1
0.1
Percent Change in After‐Tax Income 4
0.0
0.0
0.0
0.1
0.1
0.6
1.8
2.8
2.9
0.3
0.0
1.6
Share of Total Federal Tax Change
0.0
0.0
0.0
0.1
0.1
3.6
13.4
49.6
31.8
1.3
0.3
100.0
Average Federal Tax Change
Dollars
Percent
0
0
‐2
‐21
‐21
‐328
‐1,358
‐3,019
‐6,227
‐1,351
‐588
‐1,537
‐0.1
0.0
‐0.2
‐0.8
‐0.4
‐3.5
‐8.0
‐9.1
‐8.0
‐0.8
‐0.1
‐5.5
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
0.0
0.1
0.1
‐0.2
‐1.2
‐0.6
0.5
1.3
0.0
Under the Proposal
0.0
0.0
0.3
0.7
1.2
5.7
8.9
28.5
21.0
9.5
24.0
100.0
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
0.0
‐0.1
0.0
‐0.5
‐1.5
‐2.1
‐2.1
‐0.2
0.0
‐1.2
Under the Proposal
2.0
0.9
3.5
6.9
9.9
14.1
17.3
21.1
24.1
25.3
29.4
21.4
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2012 Cash Income Level (thousands of 2009 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
2,234
4,170
4,955
4,507
4,093
10,218
9,299
15,488
4,807
872
432
61,357
3.6
6.8
8.1
7.4
6.7
16.7
15.2
25.2
7.8
1.4
0.7
100.0
Average Income (Dollars)
4,855
16,049
25,947
36,385
46,670
65,116
90,700
142,026
296,329
705,965
3,076,442
124,139
Average Federal Tax Burden (Dollars)
97
140
898
2,529
4,636
9,486
17,038
33,030
77,657
179,674
906,168
28,132
Average After‐
Tax Income 4 (Dollars)
4,758
15,909
25,049
33,855
42,034
55,629
73,662
108,996
218,672
526,290
2,170,274
96,007
Average Federal Tax Rate 5
2.0
0.9
3.5
7.0
9.9
14.6
18.8
23.3
26.2
25.5
29.5
22.7
Share of Pre‐
Tax Income
Share of Post‐
Tax Income
Share of Federal Taxes
Percent of Total
Percent of Total
Percent of Total
0.1
0.9
1.7
2.2
2.5
8.7
11.1
28.9
18.7
8.1
17.4
100.0
0.2
1.1
2.1
2.6
2.9
9.7
11.6
28.7
17.9
7.8
15.9
100.0
0.0
0.0
0.3
0.7
1.1
5.6
9.2
29.6
21.6
9.1
22.7
100.0
Source: Urban‐Brookings Tax Policy Center Microsimulation Model (version 0509‐7).
(1) Calendar year. Baseline is current law. Proposal would allow non‐refundable credits against tentative AMT and index the AMT exemption, rate bracket thresholds, and phaseout‐out exemption threshold to inflation after
2011.
(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. 8‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0058
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Law
1
Distribution of Federal Tax Change by Cash Income Level, 2012 Detail Table ‐ Head of Household Tax Units
Cash Income Level (thousands of 2009 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
0.0
0.6
7.2
16.0
39.3
64.5
89.3
92.9
94.2
60.8
30.3
25.2
0.0
0.0
0.0
0.0
0.1
0.0
0.0
0.1
0.0
0.2
0.0
0.0
Percent Change in After‐Tax Income 4
0.0
0.0
0.1
0.2
0.9
2.0
2.8
2.3
1.4
0.1
0.0
1.1
Share of Total Federal Tax Change
0.0
0.1
1.1
2.0
9.7
36.3
25.8
20.3
4.7
0.1
0.0
100.0
Average Federal Tax Change
Dollars
Percent
0
‐1
‐21
‐50
‐358
‐1,002
‐1,903
‐2,321
‐3,033
‐349
‐239
‐380
0.0
0.1
‐19.0
‐1.5
‐5.3
‐8.5
‐9.7
‐7.1
‐4.1
‐0.2
0.0
‐6.9
Share of Federal Taxes
Change (% Points)
‐0.1
‐0.5
‐0.1
0.5
0.2
‐0.5
‐0.6
0.0
0.2
0.2
0.5
0.0
Under the Proposal
‐2.0
‐6.5
0.4
9.5
12.9
29.1
17.9
19.8
8.1
3.0
7.8
100.0
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
‐0.1
‐0.1
‐0.8
‐1.6
‐2.1
‐1.7
‐1.0
‐0.1
0.0
‐0.9
Under the Proposal
‐14.4
‐10.2
0.3
9.0
13.8
17.1
20.0
22.9
23.8
24.2
30.3
12.5
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2012 Cash Income Level (thousands of 2009 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
2,591
5,154
4,929
3,666
2,515
3,380
1,265
815
144
23
11
24,547
10.6
21.0
20.1
14.9
10.3
13.8
5.2
3.3
0.6
0.1
0.0
100.0
Average Income (Dollars)
6,700
15,615
26,048
36,129
46,554
63,109
88,944
133,109
297,557
690,153
2,968,549
40,709
Average Federal Tax Burden (Dollars)
‐963
‐1,588
109
3,296
6,758
11,766
19,661
32,732
73,897
167,328
899,093
5,481
Average After‐
Tax Income 4 (Dollars)
7,663
17,203
25,938
32,834
39,796
51,343
69,283
100,377
223,660
522,825
2,069,456
35,228
Average Federal Tax Rate 5
‐14.4
‐10.2
0.4
9.1
14.5
18.6
22.1
24.6
24.8
24.3
30.3
13.5
Share of Pre‐
Tax Income
Share of Post‐
Tax Income
Share of Federal Taxes
Percent of Total
Percent of Total
Percent of Total
1.7
8.1
12.9
13.3
11.7
21.4
11.3
10.9
4.3
1.6
3.2
100.0
2.3
10.3
14.8
13.9
11.6
20.1
10.1
9.5
3.7
1.4
2.6
100.0
‐1.9
‐6.1
0.4
9.0
12.6
29.6
18.5
19.8
7.9
2.8
7.2
100.0
Source: Urban‐Brookings Tax Policy Center Microsimulation Model (version 0509‐7).
(1) Calendar year. Baseline is current law. Proposal would allow non‐refundable credits against tentative AMT and index the AMT exemption, rate bracket thresholds, and phaseout‐out exemption threshold to inflation after
2011.
(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. 8‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0058
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Law
1
Distribution of Federal Tax Change by Cash Income Level, 2012 Detail Table ‐ Tax Units with Children
Cash Income Level (thousands of 2009 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
0.0
0.5
6.8
18.0
35.1
60.7
85.3
96.8
98.4
78.9
30.2
48.3
0.0
0.0
0.1
0.0
0.2
0.1
0.1
0.1
0.2
0.4
0.4
0.1
Percent Change in After‐Tax Income 4
0.0
0.0
0.1
0.2
0.7
1.7
3.1
3.8
3.2
0.2
0.0
2.1
Share of Total Federal Tax Change
0.0
0.0
0.2
0.4
1.5
8.8
16.8
47.8
23.8
0.6
0.1
100.0
Average Federal Tax Change
Dollars
Percent
0
‐1
‐19
‐69
‐292
‐894
‐2,224
‐4,119
‐6,823
‐1,084
‐262
‐1,552
0.0
0.0
2.5
‐2.8
‐5.1
‐8.3
‐12.1
‐12.1
‐8.6
‐0.6
0.0
‐7.7
Share of Federal Taxes
Change (% Points)
0.0
‐0.1
‐0.1
0.1
0.1
‐0.1
‐0.5
‐1.4
‐0.2
0.7
1.6
0.0
Under the Proposal
‐0.4
‐1.5
‐0.5
1.3
2.3
8.2
10.2
29.0
21.1
9.0
21.2
100.0
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
‐0.1
‐0.2
‐0.6
‐1.4
‐2.5
‐2.9
‐2.3
‐0.2
0.0
‐1.7
Under the Proposal
‐19.0
‐14.6
‐3.0
6.6
11.7
15.5
17.9
21.2
24.7
26.7
30.6
19.9
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2012 Cash Income Level (thousands of 2009 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
3,083
5,815
5,901
4,869
3,878
7,541
5,764
8,849
2,661
441
204
49,155
6.3
11.8
12.0
9.9
7.9
15.3
11.7
18.0
5.4
0.9
0.4
100.0
Average Income (Dollars)
6,320
15,806
26,013
36,200
46,599
64,350
90,504
141,489
294,315
703,453
3,108,044
93,484
Average Federal Tax Burden (Dollars)
‐1,200
‐2,311
‐769
2,451
5,745
10,840
18,459
34,139
79,382
189,156
952,100
20,195
Average After‐
Tax Income 4 (Dollars)
7,520
18,118
26,782
33,748
40,854
53,510
72,045
107,350
214,934
514,298
2,155,944
73,289
Average Federal Tax Rate 5
‐19.0
‐14.6
‐3.0
6.8
12.3
16.9
20.4
24.1
27.0
26.9
30.6
21.6
Share of Pre‐
Tax Income
Share of Post‐
Tax Income
Share of Federal Taxes
Percent of Total
Percent of Total
Percent of Total
0.4
2.0
3.3
3.8
3.9
10.6
11.4
27.3
17.0
6.8
13.8
100.0
0.6
2.9
4.4
4.6
4.4
11.2
11.5
26.4
15.9
6.3
12.2
100.0
‐0.4
‐1.4
‐0.5
1.2
2.2
8.2
10.7
30.4
21.3
8.4
19.6
100.0
Source: Urban‐Brookings Tax Policy Center Microsimulation Model (version 0509‐7).
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. Proposal would allow non‐refundable credits against tentative AMT and index the AMT exemption, rate bracket thresholds, and phaseout‐out exemption threshold to inflation after
2011.
(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. 8‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0058
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Law
1
Distribution of Federal Tax Change by Cash Income Level, 2012 Detail Table ‐ Elderly Tax Units
Cash Income Level (thousands of 2009 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
0.0
0.0
0.0
0.2
0.7
3.5
28.6
59.1
83.4
65.6
43.4
12.4
0.0
0.0
0.0
0.0
0.0
0.0
0.2
0.3
0.4
0.8
1.2
0.1
Percent Change in After‐Tax Income 4
0.0
0.0
0.0
0.0
0.0
0.1
0.4
1.0
1.7
0.3
0.0
0.5
Share of Total Federal Tax Change
0.0
0.0
0.0
0.0
0.1
1.5
7.9
36.4
49.1
4.1
0.9
100.0
Average Federal Tax Change
Dollars
Percent
0
0
0
0
‐5
‐30
‐291
‐1,116
‐4,012
‐1,538
‐592
‐299
0.0
0.0
0.0
0.0
‐0.2
‐0.5
‐2.4
‐4.3
‐5.6
‐0.9
‐0.1
‐2.3
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.1
0.0
‐0.4
‐0.7
0.2
0.7
0.0
Under the Proposal
0.1
0.6
1.4
1.6
1.7
7.3
7.3
18.9
19.1
10.7
31.0
100.0
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
0.0
0.0
0.0
‐0.1
‐0.3
‐0.8
‐1.3
‐0.2
0.0
‐0.4
Under the Proposal
2.9
2.5
4.3
5.9
6.6
10.1
13.1
17.7
22.1
24.3
30.0
17.1
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2012 Cash Income Level (thousands of 2009 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
2,320
6,471
5,095
2,996
2,253
4,442
2,467
2,980
1,119
244
132
30,543
7.6
21.2
16.7
9.8
7.4
14.5
8.1
9.8
3.7
0.8
0.4
100.0
Average Income (Dollars)
6,373
15,653
25,549
36,070
46,527
64,493
89,209
141,614
304,594
710,007
3,095,739
75,561
Average Federal Tax Burden (Dollars)
185
390
1,107
2,133
3,054
6,510
11,950
26,147
71,350
173,918
927,763
13,196
Average After‐
Tax Income 4 (Dollars)
6,189
15,263
24,442
33,937
43,473
57,983
77,259
115,468
233,245
536,089
2,167,976
62,365
Average Federal Tax Rate 5
2.9
2.5
4.3
5.9
6.6
10.1
13.4
18.5
23.4
24.5
30.0
17.5
Share of Pre‐
Tax Income
Share of Post‐
Tax Income
Share of Federal Taxes
Percent of Total
Percent of Total
Percent of Total
0.6
4.4
5.6
4.7
4.5
12.4
9.5
18.3
14.8
7.5
17.7
100.0
0.8
5.2
6.5
5.3
5.1
13.5
10.0
18.1
13.7
6.9
15.0
100.0
0.1
0.6
1.4
1.6
1.7
7.2
7.3
19.3
19.8
10.5
30.3
100.0
Source: Urban‐Brookings Tax Policy Center Microsimulation Model (version 0509‐7).
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. Proposal would allow non‐refundable credits against tentative AMT and index the AMT exemption, rate bracket thresholds, and phaseout‐out exemption threshold to inflation after
2011.
(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.