27-Sep-11
PRELIMINARY RESULTS; UPDATED
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 T11-0363
President Obama's Proposals for the Joint Committee
Baseline: Current Law
Distribution of Federal Tax Change by Cash Income Level, 2013 1
Summary Table
Cash Income Level
(thousands of 2011
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 with Tax Increase or Cut 3
With Tax Cut
Pct of Tax
Avg Tax Cut
Units
20.3
44.0
69.4
85.5
89.9
95.7
98.3
98.9
93.4
53.9
30.2
72.4
-595
-711
-1,005
-1,052
-1,141
-1,484
-2,280
-4,243
-7,348
-9,638
-44,925
-2,175
With Tax Increase
Pct of Tax
Avg Tax
Units
Increase
8.3
10.0
12.8
8.1
6.0
3.0
1.2
0.9
6.5
46.1
69.8
7.1
34
42
59
89
116
192
408
939
2,913
7,005
59,427
2,343
Percent
Change in
After-Tax
Income 4
2.2
2.1
3.0
2.9
2.6
2.7
3.2
3.9
3.0
0.3
-1.5
2.5
Share of
Total
Federal Tax
Change
1.1
3.7
6.2
6.6
5.9
13.8
14.2
37.7
16.8
0.6
-6.7
100.0
Average
Federal Tax
Change ($)
-118
-309
-693
-891
-1,016
-1,386
-2,211
-4,122
-6,319
-1,222
28,509
-1,373
Average Federal Tax Rate5
Change (%
Points)
Under the
Proposal
-2.1
-2.0
-2.7
-2.5
-2.2
-2.2
-2.5
-3.0
-2.2
-0.2
0.9
-1.9
2.7
1.8
7.0
11.4
14.2
16.9
19.0
21.7
25.3
29.5
38.0
21.7
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
Number of AMT Taxpayers (millions). Baseline: 21.0
Proposal: 5.3
* Less than 0.05
** Insufficient data
(1) Calendar year. Baseline is current law. Proposal: extends 2001 and 2003 individual income tax cuts but limits them for married taxpayers with incomes greater than $250,000
($200,000 for singles), indexed for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the
value of all itemized deductions and certain other tax expenditures to 28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for
inflation after 2009; taxes carried interest in investment partnerships as ordinary income; closes loopholes for corporate jet depreciation; repeals oil and gas subsidies; broadens
business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would adjust their investment portfolio and optimally pay down their
mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines, see
http://www.taxpolicycenter.org/T11-0270
(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.
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0363
President Obama's Proposals for the Joint Committee
Baseline: Current Law
Distribution of Federal Tax Change by Cash Income Level, 2013 1
Detail Table
Cash Income Level
(thousands of 2011
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
Increase
With Tax Cut
20.3
44.0
69.4
85.5
89.9
95.7
98.3
98.9
93.4
53.9
30.2
72.4
8.3
10.0
12.8
8.1
6.0
3.0
1.2
0.9
6.5
46.1
69.8
7.1
Percent Change
in After-Tax
Income 4
2.2
2.1
3.0
2.9
2.6
2.7
3.2
3.9
3.0
0.3
-1.5
2.5
Share of Total
Federal Tax
Change
1.1
3.7
6.2
6.6
5.9
13.8
14.2
37.7
16.8
0.6
-6.7
100.0
Average Federal Tax Change
Dollars
-118
-309
-693
-891
-1,016
-1,386
-2,211
-4,122
-6,319
-1,222
28,509
-1,373
Percent
-43.4
-52.4
-28.1
-17.9
-13.4
-11.5
-11.6
-12.0
-7.9
-0.6
2.5
-8.0
Share of Federal Taxes
Change (%
Points)
-0.1
-0.3
-0.4
-0.3
-0.2
-0.4
-0.4
-1.1
0.0
0.6
2.4
0.0
Under the
Proposal
0.1
0.3
1.4
2.7
3.3
9.3
9.5
24.2
17.2
8.3
23.6
100.0
Average Federal Tax Rate5
Change (%
Points)
-2.1
-2.0
-2.7
-2.5
-2.2
-2.2
-2.5
-3.0
-2.2
-0.2
0.9
-1.9
Under the
Proposal
2.7
1.8
7.0
11.4
14.2
16.9
19.0
21.7
25.3
29.5
38.0
21.7
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2013 1
Cash Income Level
(thousands of 2011
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
21,065
27,359
20,377
16,959
13,305
22,765
14,636
20,881
6,084
1,051
534
166,272
12.7
16.5
12.3
10.2
8.0
13.7
8.8
12.6
3.7
0.6
0.3
100.0
Pre-Tax Income
Average
(dollars)
5,766
15,205
25,480
35,896
46,141
63,142
89,268
139,817
292,655
696,116
3,032,367
72,381
Percent of
Total
1.0
3.5
4.3
5.1
5.1
11.9
10.9
24.3
14.8
6.1
13.5
100.0
Federal Tax Burden
Average
(dollars)
272
589
2,466
4,988
7,566
12,061
19,150
34,450
80,279
206,531
1,123,823
17,091
Percent of
Total
0.2
0.6
1.8
3.0
3.5
9.7
9.9
25.3
17.2
7.6
21.1
100.0
After-Tax Income 4
Average
(dollars)
5,493
14,616
23,015
30,908
38,575
51,081
70,119
105,367
212,377
489,585
1,908,544
55,290
Percent of
Total
1.3
4.4
5.1
5.7
5.6
12.7
11.2
23.9
14.1
5.6
11.1
100.0
Average
Federal Tax
Rate 5
4.7
3.9
9.7
13.9
16.4
19.1
21.5
24.6
27.4
29.7
37.1
23.6
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
Number of AMT Taxpayers (millions). Baseline: 21.0
Proposal: 5.3
* Less than 0.05
(1) Calendar year. Baseline is current law. Proposal: extends 2001 and 2003 individual income tax cuts but limits them for married taxpayers with incomes greater than $250,000 ($200,000 for singles), indexed
for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other tax expenditures
to 28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary income; closes loopholes
for corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would adjust their investment
portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines, see
http://www.taxpolicycenter.org/T11-0270
(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.
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0363
President Obama's Proposals for the Joint Committee
Baseline: Current Law
1
Distribution of Federal Tax Change by Cash Income Level, 2013
Detail Table - Single Tax Units
Cash Income Level
(thousands of 2011
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
Increase
With Tax Cut
14.3
36.5
61.4
86.3
95.6
96.1
97.4
97.5
82.4
44.7
24.9
57.6
8.4
11.9
17.4
8.7
2.9
2.8
1.8
2.0
17.5
55.2
75.1
9.4
Percent Change
in After-Tax
Income 4
1.4
1.0
1.5
1.6
1.6
2.2
2.9
3.6
3.9
1.5
-1.7
2.0
Share of Total
Federal Tax
Change
2.5
5.7
8.4
9.0
7.0
18.4
13.8
24.5
13.1
1.9
-4.3
100.0
Average Federal Tax Change
Dollars
Percent
-74
-147
-337
-488
-583
-1,052
-1,911
-3,612
-8,156
-7,014
28,856
-615
-18.4
-14.8
-10.6
-8.5
-6.4
-7.4
-8.4
-9.7
-9.0
-2.9
2.4
-7.1
Share of Federal Taxes
Change (%
Points)
-0.1
-0.2
-0.2
-0.1
0.1
-0.1
-0.2
-0.5
-0.2
0.2
1.3
0.0
Under the
Proposal
0.9
2.5
5.4
7.5
7.9
17.6
11.5
17.5
10.1
4.7
14.3
100.0
Average Federal Tax Rate
Change (%
Points)
-1.3
-1.0
-1.3
-1.4
-1.3
-1.7
-2.2
-2.6
-2.7
-1.0
1.0
-1.6
5
Under the
Proposal
5.8
5.6
11.3
14.7
18.7
21.0
23.6
24.6
27.5
33.4
42.5
20.6
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2013 1
Cash Income Level
(thousands of 2011
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)
16,722
19,121
12,334
9,158
5,981
8,668
3,570
3,358
794
131
74
80,622
Percent of
Total
20.7
23.7
15.3
11.4
7.4
10.8
4.4
4.2
1.0
0.2
0.1
100.0
Pre-Tax Income
Average
(dollars)
5,678
15,084
25,339
35,802
45,980
62,437
88,424
136,678
298,894
696,170
2,952,272
39,043
Percent of
Total
3.0
9.2
9.9
10.4
8.7
17.2
10.0
14.6
7.5
2.9
6.9
100.0
Federal Tax Burden
Average
(dollars)
402
993
3,188
5,751
9,164
14,174
22,778
37,252
90,423
239,164
1,226,221
8,637
Percent of
Total
1.0
2.7
5.7
7.6
7.9
17.6
11.7
18.0
10.3
4.5
13.0
100.0
After-Tax Income 4
Average
(dollars)
5,276
14,090
22,151
30,051
36,816
48,263
65,646
99,426
208,471
457,007
1,726,051
30,407
Percent of
Total
3.6
11.0
11.2
11.2
9.0
17.1
9.6
13.6
6.8
2.5
5.2
100.0
Average
Federal Tax
Rate 5
7.1
6.6
12.6
16.1
19.9
22.7
25.8
27.3
30.3
34.4
41.5
22.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
* Less than 0.05
(1) Calendar year. Baseline is current law. Proposal: extends 2001 and 2003 individual income tax cuts but limits them for married taxpayers with incomes greater than $250,000 ($200,000 for singles), indexed
for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other tax expenditures to
28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary income; closes loopholes for
corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would adjust their investment
portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines, see
http://www.taxpolicycenter.org/T11-0270
(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.
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0363
President Obama's Proposals for the Joint Committee
Baseline: Current Law
1
Distribution of Federal Tax Change by Cash Income Level, 2013
Detail Table - Married Tax Units Filing Jointly
Cash Income Level
(thousands of 2011
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
Increase
With Tax Cut
26.0
49.1
66.1
71.5
78.1
94.4
98.7
99.3
95.6
55.5
31.3
87.4
14.0
11.1
11.9
14.9
13.2
3.9
1.0
0.6
4.3
44.4
68.7
6.2
Percent Change
in After-Tax
Income 4
4.0
3.7
5.4
4.4
3.2
2.8
3.1
4.0
2.9
0.1
-1.4
2.5
Share of Total
Federal Tax
Change
0.2
1.0
2.6
3.6
4.1
10.6
14.8
49.2
21.8
0.3
-8.3
100.0
Average Federal Tax Change
Dollars
-198
-572
-1,303
-1,419
-1,324
-1,486
-2,253
-4,298
-6,161
-472
26,990
-2,487
Percent
-129.4
-266.4
-84.5
-39.2
-24.8
-14.7
-12.8
-12.7
-7.8
-0.2
2.5
-7.5
Share of Federal Taxes
Change (%
Points)
0.0
-0.1
-0.2
-0.2
-0.2
-0.4
-0.5
-1.6
-0.1
0.7
2.7
0.0
Under the
Proposal
0.0
-0.1
0.0
0.5
1.0
5.0
8.1
27.3
20.7
10.0
27.4
100.0
Average Federal Tax Rate
Change (%
Points)
-3.9
-3.6
-5.1
-3.9
-2.9
-2.3
-2.5
-3.1
-2.1
-0.1
0.9
-1.9
5
Under the
Proposal
-0.9
-2.3
0.9
6.1
8.6
13.4
17.1
21.0
24.9
28.9
37.2
23.3
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2013 1
Cash Income Level
(thousands of 2011
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)
1,291
2,559
2,875
3,624
4,468
10,281
9,429
16,457
5,091
885
440
57,802
Percent of
Total
2.2
4.4
5.0
6.3
7.7
17.8
16.3
28.5
8.8
1.5
0.8
100.0
Pre-Tax Income
Average
(dollars)
5,093
15,850
25,634
36,207
46,489
63,998
89,794
140,888
291,809
696,396
2,988,320
132,789
Percent of
Total
0.1
0.5
1.0
1.7
2.7
8.6
11.0
30.2
19.4
8.0
17.1
100.0
Federal Tax Burden
Average
(dollars)
153
215
1,541
3,625
5,342
10,088
17,579
33,901
78,740
201,725
1,083,481
33,359
Percent of
Total
0.0
0.0
0.2
0.7
1.2
5.4
8.6
28.9
20.8
9.3
24.7
100.0
After-Tax Income 4
Average
(dollars)
4,940
15,635
24,093
32,582
41,148
53,910
72,215
106,987
213,069
494,671
1,904,839
99,430
Percent of
Total
0.1
0.7
1.2
2.1
3.2
9.6
11.9
30.6
18.9
7.6
14.6
100.0
Average
Federal Tax
Rate 5
3.0
1.4
6.0
10.0
11.5
15.8
19.6
24.1
27.0
29.0
36.3
25.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
* Less than 0.05
(1) Calendar year. Baseline is current law. Proposal: extends 2001 and 2003 individual income tax cuts but limits them for married taxpayers with incomes greater than $250,000 ($200,000 for singles), indexed
for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other tax expenditures to
28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary income; closes loopholes for
corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would adjust their investment
portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines, see
http://www.taxpolicycenter.org/T11-0270
(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.
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0363
President Obama's Proposals for the Joint Committee
Baseline: Current Law
1
Distribution of Federal Tax Change by Cash Income Level, 2013
Detail Table - Head of Household Tax Units
Cash Income Level
(thousands of 2011
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
Increase
With Tax Cut
52.9
65.5
90.0
95.8
96.8
98.3
98.7
99.1
84.2
51.6
28.5
83.6
4.8
2.9
2.3
0.9
1.2
0.7
0.6
0.5
15.8
48.5
71.5
2.2
Percent Change
in After-Tax
Income 4
4.9
4.7
5.0
4.4
3.8
3.7
3.9
3.0
1.6
0.0
-1.6
3.9
Share of Total
Federal Tax
Change
3.0
12.5
18.4
15.9
11.4
18.9
11.1
8.2
1.5
0.0
-1.0
100.0
Average Federal Tax Change
Dollars
-341
-755
-1,242
-1,387
-1,481
-1,861
-2,688
-2,956
-3,380
36
28,658
-1,295
Percent
78.2
99.4
-120.4
-33.2
-20.0
-15.2
-13.5
-8.9
-4.5
0.0
2.7
-20.5
Share of Federal Taxes
Change (%
Points)
-1.0
-3.9
-3.9
-1.6
0.1
1.7
1.5
2.8
1.4
0.7
2.1
0.0
Under the
Proposal
-1.8
-6.5
-0.8
8.3
11.8
27.2
18.4
21.7
8.6
3.6
9.5
100.0
Average Federal Tax Rate
Change (%
Points)
-5.2
-4.9
-4.8
-3.9
-3.2
-3.0
-3.1
-2.2
-1.2
0.0
1.0
-3.2
5
Under the
Proposal
-11.8
-9.9
-0.8
7.8
12.9
16.6
19.6
23.0
25.3
28.4
38.8
12.5
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2013 1
Cash Income Level
(thousands of 2011
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)
2,911
5,398
4,846
3,748
2,505
3,317
1,353
905
149
24
11
25,256
Percent of
Total
11.5
21.4
19.2
14.8
9.9
13.1
5.4
3.6
0.6
0.1
0.0
100.0
Pre-Tax Income
Average
(dollars)
6,577
15,312
25,728
35,771
45,998
62,381
88,201
132,511
287,163
675,227
2,859,898
39,986
Percent of
Total
1.9
8.2
12.4
13.3
11.4
20.5
11.8
11.9
4.3
1.6
3.1
100.0
Federal Tax Burden
Average
(dollars)
-436
-760
1,032
4,179
7,422
12,232
19,936
33,396
76,042
191,872
1,080,094
6,311
Percent of
Total
-0.8
-2.6
3.1
9.8
11.7
25.5
16.9
19.0
7.1
2.9
7.3
100.0
After-Tax Income 4
Average
(dollars)
7,013
16,071
24,696
31,592
38,576
50,149
68,264
99,115
211,121
483,355
1,779,804
33,675
Percent of
Total
2.4
10.2
14.1
13.9
11.4
19.6
10.9
10.5
3.7
1.4
2.3
100.0
Average
Federal Tax
Rate 5
-6.6
-5.0
4.0
11.7
16.1
19.6
22.6
25.2
26.5
28.4
37.8
15.8
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
* Less than 0.05
(1) Calendar year. Baseline is current law. Proposal: extends 2001 and 2003 individual income tax cuts but limits them for married taxpayers with incomes greater than $250,000 ($200,000 for singles), indexed
for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other tax expenditures to
28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary income; closes loopholes for
corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would adjust their investment
portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines, see
http://www.taxpolicycenter.org/T11-0270
(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.
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0363
President Obama's Proposals for the Joint Committee
Baseline: Current Law
Distribution of Federal Tax Change by Cash Income Level, 2013 1
Detail Table - Tax Units with Children
Cash Income Level
(thousands of 2011
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
Increase
With Tax Cut
56.4
77.3
94.3
97.6
97.8
99.1
99.6
99.7
94.5
50.3
25.1
91.9
2.4
2.1
1.2
0.8
0.7
0.5
0.2
0.2
5.5
49.6
74.9
2.0
Percent Change
in After-Tax
Income 4
5.8
5.8
6.6
6.0
5.3
4.2
4.3
4.7
2.9
-0.1
-1.6
3.5
Share of Total
Federal Tax
Change
1.1
4.5
7.5
7.5
6.6
12.9
14.3
37.3
13.4
-0.2
-5.0
100.0
Average Federal Tax Change
Dollars
-386
-988
-1,666
-1,906
-2,059
-2,160
-3,035
-5,003
-6,044
471
29,667
-2,503
Percent
59.2
69.2
-307.0
-49.4
-29.5
-18.3
-15.9
-14.4
-7.5
0.2
2.7
-11.2
Share of Federal Taxes
Change (%
Points)
-0.2
-0.7
-0.9
-0.7
-0.5
-0.6
-0.5
-1.0
0.8
1.1
3.2
0.0
Under the
Proposal
-0.4
-1.4
-0.6
1.0
2.0
7.3
9.6
28.1
20.8
9.7
23.8
100.0
Average Federal Tax Rate5
Change (%
Points)
-6.5
-6.4
-6.5
-5.3
-4.5
-3.4
-3.4
-3.6
-2.1
0.1
1.0
-2.7
Under the
Proposal
-17.4
-15.6
-4.4
5.4
10.7
15.1
17.9
21.2
25.5
30.4
38.4
21.3
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2013 1
Cash Income Level
(thousands of 2011
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)
3,361
5,658
5,534
4,844
3,945
7,372
5,840
9,226
2,749
450
206
49,418
Percent of
Total
6.8
11.5
11.2
9.8
8.0
14.9
11.8
18.7
5.6
0.9
0.4
100.0
Pre-Tax Income
Average
(dollars)
5,988
15,525
25,702
35,836
46,072
63,539
89,617
140,522
290,144
695,662
2,943,211
93,026
Percent of
Total
0.4
1.9
3.1
3.8
4.0
10.2
11.4
28.2
17.4
6.8
13.2
100.0
Federal Tax Burden
Average
(dollars)
-653
-1,427
543
3,855
6,969
11,781
19,060
34,805
80,122
211,294
1,101,072
22,303
Percent of
Total
-0.2
-0.7
0.3
1.7
2.5
7.9
10.1
29.1
20.0
8.6
20.6
100.0
After-Tax Income 4
Average
(dollars)
6,640
16,953
25,160
31,981
39,103
51,758
70,557
105,717
210,021
484,368
1,842,139
70,723
Percent of
Total
0.6
2.7
4.0
4.4
4.4
10.9
11.8
27.9
16.5
6.2
10.9
100.0
Average
Federal Tax
Rate 5
-10.9
-9.2
2.1
10.8
15.1
18.5
21.3
24.8
27.6
30.4
37.4
24.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
* Less than 0.05
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: extends 2001 and 2003 individual income tax cuts but limits them for married taxpayers with incomes greater than $250,000 ($200,000 for singles), indexed
for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other tax expenditures
to 28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary income; closes loopholes
for corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would adjust their investment
portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines, see
http://www.taxpolicycenter.org/T11-0270
(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.
27-Sep-11
PRELIMINARY RESULTS; UPDATED
http://www.taxpolicycenter.org
Table T11-0363
President Obama's Proposals for the Joint Committee
Baseline: Current Law
Distribution of Federal Tax Change by Cash Income Level, 2013 1
Detail Table - Elderly Tax Units
Cash Income Level
(thousands of 2011
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
Increase
With Tax Cut
0.1
1.4
12.9
55.2
65.9
88.0
96.0
97.8
93.0
55.1
33.7
47.0
12.6
20.9
43.1
28.0
21.9
9.5
3.4
2.0
7.0
44.8
66.4
18.8
Percent Change
in After-Tax
Income 4
0.0
0.0
0.2
0.9
1.1
2.1
2.7
3.8
4.1
1.1
-1.4
1.9
Share of Total
Federal Tax
Change
0.0
0.0
0.7
3.0
3.4
15.2
15.0
40.0
28.1
3.3
-8.6
100.0
Average Federal Tax Change
Dollars
1
-2
-57
-313
-485
-1,184
-1,990
-4,210
-8,899
-5,514
26,935
-1,096
Percent
2.1
-1.4
-7.5
-15.0
-14.7
-15.7
-14.1
-14.2
-11.2
-2.6
2.3
-7.7
Share of Federal Taxes
Change (%
Points)
0.0
0.0
0.0
-0.1
-0.1
-0.7
-0.6
-1.5
-0.7
0.5
3.2
0.0
Under the
Proposal
0.0
0.3
0.7
1.4
1.6
6.8
7.6
20.1
18.7
10.2
32.5
100.0
Average Federal Tax Rate5
Change (%
Points)
0.0
0.0
-0.2
-0.9
-1.0
-1.9
-2.2
-3.0
-3.0
-0.8
0.9
-1.5
Under the
Proposal
0.9
1.0
2.8
5.0
6.1
10.1
13.6
18.2
23.7
29.9
39.7
18.5
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2013 1
Cash Income Level
(thousands of 2011
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)
3,030
8,603
4,956
3,838
2,823
5,216
3,053
3,858
1,285
239
130
37,068
Percent of
Total
8.2
23.2
13.4
10.4
7.6
14.1
8.2
10.4
3.5
0.7
0.4
100.0
Pre-Tax Income
Average
(dollars)
6,762
15,150
25,187
35,853
46,514
63,113
88,974
139,885
298,833
698,342
3,081,067
71,055
Percent of
Total
0.8
5.0
4.7
5.2
5.0
12.5
10.3
20.5
14.6
6.4
15.2
100.0
Federal Tax Burden
Average
(dollars)
60
150
762
2,093
3,301
7,541
14,117
29,636
79,843
213,998
1,195,078
14,265
Percent of
Total
0.0
0.2
0.7
1.5
1.8
7.4
8.2
21.6
19.4
9.7
29.3
100.0
After-Tax Income 4
Average
(dollars)
6,702
14,999
24,425
33,760
43,213
55,571
74,857
110,249
218,990
484,344
1,885,989
56,790
Percent of
Total
1.0
6.1
5.8
6.2
5.8
13.8
10.9
20.2
13.4
5.5
11.6
100.0
Average
Federal Tax
Rate 5
0.9
1.0
3.0
5.8
7.1
12.0
15.9
21.2
26.7
30.6
38.8
20.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-2).
* Less than 0.05
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: extends 2001 and 2003 individual income tax cuts but limits them for married taxpayers with incomes greater than $250,000 ($200,000 for singles), indexed
for inflation after 2009, as proposed in Administration's FY2012 budget; reinstates 2009 estate tax rate and exemption, unindexed; limits the value of all itemized deductions and certain other tax expenditures
to 28 percent for married taxpayers with AGI greater than $250,000 ($200,000 for singles), indexed for inflation after 2009; taxes carried interest in investment partnerships as ordinary income; closes loopholes
for corporate jet depreciation; repeals oil and gas subsidies; broadens business tax base; and makes certain changes to international taxation. Estimates assume that taxpayers would adjust their investment
portfolio and optimally pay down their mortgage balance if their tax benefit from mortgage interest were reduced. For a description of TPC's current law and current policy baselines, see
http://www.taxpolicycenter.org/T11-0270
(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.