7‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0060
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Policy
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
0.0
0.0
0.0
0.0
0.0
0.0
1.7
49.8
62.1
31.1
2.6
With Tax Increase
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.5
0.1
0.0
0.0
Percent Change in After‐Tax Income 4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Share of Total Federal Tax Change
0.0
0.0
0.0
0.0
0.0
0.0
0.0
6.3
81.7
9.9
2.0
100.0
Average Federal Tax Change ($)
0
0
0
0
0
0
0
‐2
‐79
‐54
‐21
‐4
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Under the Proposal
2.7
2.9
8.0
12.5
15.1
17.4
19.0
21.6
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: 4.7 Proposal: 4.6
(1) Calendar year. Baseline is current policy, which assumes that all the temporary provisions in place for calendar year 2011 are extended, with the exception of the payroll tax cut, and indexes the AMT exemption level after 2011. Proposal would index the AMT 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. 7‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0060
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Policy
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
0.0
0.0
0.0
0.0
0.0
0.0
1.7
49.8
62.1
31.1
2.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.5
0.1
0.0
0.0
Percent Change in After‐Tax Income 4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Share of Total Federal Tax Change
0.0
0.0
0.0
0.0
0.0
0.0
0.0
6.3
81.7
9.9
2.0
100.0
Average Federal Tax Change
Dollars
Percent
0
0
0
0
0
0
0
‐2
‐79
‐54
‐21
‐4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
‐0.1
0.0
0.0
0.0
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
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
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Under the Proposal
2.7
2.9
8.0
12.5
15.1
17.4
19.0
21.6
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
445
2,055
4,513
7,035
11,123
17,175
30,471
71,894
179,392
928,350
15,319
Average After‐
Tax Income 4 (Dollars)
5,584
15,103
23,759
31,715
39,524
52,932
73,011
110,546
225,222
525,482
2,186,455
59,587
Average Federal Tax Rate 5
2.7
2.9
8.0
12.5
15.1
17.4
19.0
21.6
24.2
25.5
29.8
20.5
Share of Pre‐
Tax Income
Share of Post‐
Tax Income
Share of Federal Taxes
Percent of Total
Percent of Total
Percent of Total
0.8
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
5.5
5.5
5.5
12.8
11.0
23.1
13.9
5.8
12.3
100.0
0.1
0.5
1.9
3.0
3.8
10.5
10.1
24.8
17.2
7.7
20.3
100.0
Source: Urban‐Brookings Tax Policy Center Microsimulation Model (version 0509‐7).
Number of AMT Taxpayers (millions). Baseline: 4.7 Proposal: 4.6
(1) Calendar year. Baseline is current policy, which assumes that all the temporary provisions in place for calendar year 2011 are extended, with the exception of the payroll tax cut, and indexes the AMT exemption level after
2011. Proposal would index the AMT 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. 7‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0060
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Policy
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
0.0
0.0
0.0
0.0
0.0
0.0
2.6
47.1
36.0
25.3
0.8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.4
0.3
0.0
0.0
Percent Change in After‐Tax Income 4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Share of Total Federal Tax Change
0.0
0.0
0.0
0.0
0.0
0.0
0.0
15.4
77.8
4.8
2.0
100.0
Average Federal Tax Change
Dollars
Percent
0
0
0
0
0
0
0
‐3
‐56
‐20
‐15
‐1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
‐0.1
0.0
0.0
0.0
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Under the Proposal
0.8
3.0
6.3
7.8
8.7
19.2
11.6
17.3
9.5
4.2
11.6
100.0
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Under the Proposal
6.9
7.7
13.0
17.1
19.1
21.4
23.6
24.0
24.7
26.6
31.7
20.4
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
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
1,191
3,342
6,180
8,865
13,509
21,067
33,185
74,456
186,411
941,583
8,802
Average After‐
Tax Income 4 (Dollars)
5,307
14,197
22,311
29,974
37,664
49,667
68,354
105,162
227,168
513,141
2,027,479
34,294
Average Federal Tax Rate 5
6.9
7.7
13.0
17.1
19.1
21.4
23.6
24.0
24.7
26.7
31.7
20.4
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
9.7
9.5
18.1
9.6
14.1
7.5
2.9
6.4
100.0
0.8
3.0
6.3
7.8
8.7
19.2
11.6
17.3
9.5
4.2
11.6
100.0
Source: Urban‐Brookings Tax Policy Center Microsimulation Model (version 0509‐7).
(1) Calendar year. Baseline is current policy, which assumes that all the temporary provisions in place for calendar year 2011 are extended, with the exception of the payroll tax cut, and indexes the AMT exemption level after
2011. Proposal would index the AMT 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. 7‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0060
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Policy
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
0.0
0.0
0.0
0.0
0.0
0.6
49.1
66.2
32.0
5.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.6
0.1
0.0
0.1
Percent Change in After‐Tax Income 4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Share of Total Federal Tax Change
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2.5
84.5
11.0
2.0
100.0
Average Federal Tax Change
Dollars
Percent
0
0
0
0
0
0
0
‐1
‐83
‐60
‐22
‐8
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
‐0.1
0.0
0.0
0.0
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Under the Proposal
0.0
0.0
0.3
0.7
1.2
5.7
8.9
28.4
21.1
9.6
24.0
100.0
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Under the Proposal
2.0
0.9
3.5
6.9
9.9
14.0
17.2
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
894
2,504
4,609
9,136
15,637
29,890
71,428
178,366
905,593
26,554
Average After‐
Tax Income 4 (Dollars)
4,758
15,909
25,053
33,881
42,061
55,979
75,063
112,136
224,901
527,598
2,170,849
97,585
Average Federal Tax Rate 5
2.0
0.9
3.5
6.9
9.9
14.0
17.2
21.1
24.1
25.3
29.4
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
0.1
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
9.6
11.7
29.0
18.1
7.7
15.7
100.0
0.0
0.0
0.3
0.7
1.2
5.7
8.9
28.4
21.1
9.6
24.0
100.0
Source: Urban‐Brookings Tax Policy Center Microsimulation Model (version 0509‐7).
(1) Calendar year. Baseline is current policy, which assumes that all the temporary provisions in place for calendar year 2011 are extended, with the exception of the payroll tax cut, and indexes the AMT exemption level after
2011. Proposal would index the AMT 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. 7‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0060
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Policy
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
0.0
0.0
0.0
0.0
0.0
0.0
11.9
78.6
57.7
28.2
0.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.3
0.2
0.0
0.0
Percent Change in After‐Tax Income 4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Share of Total Federal Tax Change
0.0
0.0
0.0
0.0
0.0
0.0
0.0
40.1
55.9
3.3
0.8
100.0
Average Federal Tax Change
Dollars
Percent
0
0
0
0
0
0
0
‐12
‐95
‐35
‐18
‐1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
‐0.1
0.0
0.0
0.0
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Under the Proposal
‐2.0
‐6.6
0.3
9.5
12.9
29.0
17.9
19.8
8.2
3.1
7.8
100.0
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Under the Proposal
‐14.4
‐10.2
0.3
9.0
13.7
17.0
19.9
22.8
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
‐1,589
85
3,238
6,386
10,729
17,693
30,371
70,922
167,073
898,868
5,089
Average After‐
Tax Income 4 (Dollars)
7,663
17,204
25,963
32,891
40,168
52,380
71,251
102,738
226,635
523,079
2,069,681
35,620
Average Federal Tax Rate 5
‐14.4
‐10.2
0.3
9.0
13.7
17.0
19.9
22.8
23.8
24.2
30.3
12.5
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
10.1
14.6
13.8
11.6
20.3
10.3
9.6
3.7
1.4
2.6
100.0
‐2.0
‐6.6
0.3
9.5
12.9
29.0
17.9
19.8
8.2
3.1
7.8
100.0
Source: Urban‐Brookings Tax Policy Center Microsimulation Model (version 0509‐7).
(1) Calendar year. Baseline is current policy, which assumes that all the temporary provisions in place for calendar year 2011 are extended, with the exception of the payroll tax cut, and indexes the AMT exemption level after
2011. Proposal would index the AMT 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. 7‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0060
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Policy
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
0.0
0.0
0.0
0.0
0.0
0.0
2.0
61.3
74.1
28.9
4.5
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.7
0.1
0.1
0.0
Percent Change in After‐Tax Income 4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.0
0.0
0.0
Share of Total Federal Tax Change
0.0
0.0
0.0
0.0
0.0
0.0
0.0
6.0
84.2
8.7
1.1
100.0
Average Federal Tax Change
Dollars
Percent
0
0
0
0
0
0
0
‐2
‐101
‐63
‐17
‐6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
‐0.1
0.0
0.0
0.0
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Under the Proposal
‐0.4
‐1.5
‐0.5
1.3
2.3
8.2
10.2
28.9
21.1
9.1
21.2
100.0
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Under the Proposal
‐19.0
‐14.6
‐3.0
6.6
11.7
15.4
17.9
21.1
24.6
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
‐2,312
‐790
2,374
5,442
9,915
16,181
29,899
72,582
188,126
951,847
18,610
Average After‐
Tax Income 4 (Dollars)
7,520
18,118
26,803
33,826
41,156
54,435
74,324
111,590
221,733
515,327
2,156,197
74,874
Average Federal Tax Rate 5
‐19.0
‐14.6
‐3.0
6.6
11.7
15.4
17.9
21.1
24.7
26.7
30.6
19.9
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
4.3
4.5
4.3
11.2
11.6
26.8
16.0
6.2
12.0
100.0
‐0.4
‐1.5
‐0.5
1.3
2.3
8.2
10.2
28.9
21.1
9.1
21.2
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 policy, which assumes that all the temporary provisions in place for calendar year 2011 are extended, with the exception of the payroll tax cut, and indexes the AMT exemption level after
2011. Proposal would index the AMT 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. 7‐Mar‐11
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T11‐0060
Administration's FY2012 Budget Proposals
Extend and Index 2011 AMT Patch
Baseline: Current Policy
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
0.0
0.0
0.0
0.0
0.8
32.8
53.2
38.8
1.9
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.0
0.0
Percent Change in After‐Tax Income 4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Share of Total Federal Tax Change
0.0
0.0
0.0
0.0
0.0
0.0
0.0
3.3
75.0
17.0
4.7
100.0
Average Federal Tax Change
Dollars
Percent
0
0
0
0
0
0
0
‐1
‐50
‐52
‐27
‐2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
‐0.1
0.0
0.0
0.0
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
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
31.1
100.0
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Under the Proposal
2.9
2.5
4.3
5.9
6.5
10.0
13.0
17.6
22.1
24.3
30.0
17.0
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)
184
390
1,107
2,131
3,040
6,455
11,605
24,932
67,296
172,403
927,188
12,877
Average After‐
Tax Income 4 (Dollars)
6,189
15,263
24,442
33,939
43,487
58,038
77,604
116,682
237,298
537,604
2,168,551
62,683
Average Federal Tax Rate 5
2.9
2.5
4.3
5.9
6.5
10.0
13.0
17.6
22.1
24.3
30.0
17.0
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
18.2
13.9
6.9
14.9
100.0
0.1
0.6
1.4
1.6
1.7
7.3
7.3
18.9
19.2
10.7
31.1
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 policy, which assumes that all the temporary provisions in place for calendar year 2011 are extended, with the exception of the payroll tax cut, and indexes the AMT exemption level after
2011. Proposal would index the AMT 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.