28-Jul-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0121
Tax Benefit of the Partial Exclusion of Social Security Benefits
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2015 ¹
Detail Table
Expanded Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Percent of Tax Units
With Benefit
Without
Benefit
Benefit as a
Percent of AfterTax Income 4
Share of
Total Benefit
Average Benefit
Dollars
Share of Federal Taxes
Percent of
Federal Taxes
With Provision
Average Federal Tax Rate6
Without
Provision
With
Provision
Without
Provision
14.0
26.1
22.3
8.8
0.6
15.5
86.0
73.9
77.7
91.2
99.4
84.5
0.4
0.9
0.8
0.2
0.0
0.3
7.5
34.0
43.5
13.8
1.0
100.0
49
282
401
151
13
180
10.6
11.0
5.2
0.9
0.0
1.1
0.8
3.4
9.2
17.5
69.0
100.0
0.8
3.7
9.6
17.5
68.3
100.0
3.6
7.8
13.1
17.0
25.7
19.8
3.9
8.7
13.8
17.2
25.7
20.0
1.0
0.4
0.1
*
0.0
99.0
99.6
99.9
100.0
100.0
0.0
0.0
0.0
0.0
0.0
0.8
0.1
0.0
0.0
0.0
20
7
1
0
0
0.1
0.0
0.0
0.0
0.0
14.3
10.8
15.9
27.9
13.4
14.2
10.7
15.7
27.6
13.2
20.0
21.8
25.2
33.4
34.9
20.0
21.8
25.2
33.4
34.9
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Percentile, 2015 1
Expanded Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Tax Units
Number
(thousands)
Pre-Tax Income
Average
(dollars)
Percent of
Total
Average
Federal Tax
Rate 6
0.8
3.4
9.2
17.5
69.0
100.0
12,478
30,191
51,687
85,961
238,685
67,140
5.2
9.8
15.0
21.1
49.2
100.0
3.6
7.8
13.1
17.0
25.7
19.8
14.3
10.8
15.9
27.9
13.4
133,005
187,059
303,273
1,404,229
6,149,316
14.2
9.6
11.7
13.8
6.2
20.0
21.8
25.2
33.4
34.9
Federal Tax Burden
Percent of
Total
Average
(dollars)
Percent of
Total
Average
(dollars)
47,416
37,240
33,429
28,192
23,717
171,259
27.7
21.7
19.5
16.5
13.9
100.0
12,939
32,747
59,484
103,603
321,278
83,723
4.3
8.5
13.9
20.4
53.1
100.0
461
2,556
7,797
17,641
82,593
16,582
12,247
5,921
4,422
1,128
115
7.2
3.5
2.6
0.7
0.1
166,149
239,064
405,492
2,107,531
9,446,793
14.2
9.9
12.5
16.6
7.6
33,144
52,005
102,219
703,303
3,297,476
Percent of
Total
After-Tax Income 5
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
Number of AMT Taxpayers (millions). Baseline: 4.1
Proposal: 4.1
* Less than 0.05
(1) Calendar year. Baseline is current law. Table shows the tax benefit under current law of the partial exclusion from income of Social Security benefits. For a description of TPC's current law baseline,
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective
income class but are included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The breaks
are (in 2015 dollars): 20% $22,769; 40% $44,590; 60% $78,129; 80% $138,265; 90% $204,070; 95% $290,298; 99% $709,166; 99.9% $3,474,762.
(4) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(5) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash income.
28-Jul-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0121
Tax Benefit of the Partial Exclusion of Social Security Benefits
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Percentile Adjusted for Family Size, 2015 ¹
Detail Table
Expanded Cash Income
2,3
Percentile
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Percent of Tax Units
With Benefit
4
Without
Benefit
Percent Change
in After-Tax
Income5
Share of
Total Benefit
Average Benefit
Dollars
Share of Federal Taxes
Percent
With Provision
6
Average Federal Tax Rate
Without
Provision
With
Provision
Without
Provision
3.4
29.5
26.9
15.5
1.6
15.5
96.6
70.5
73.1
84.5
98.4
84.5
0.0
-0.7
-0.9
-0.4
0.0
-0.3
0.6
21.0
47.4
27.8
3.0
100.0
5
182
428
267
31
180
-19.2
10.9
6.9
1.8
0.0
1.1
0.0
2.1
7.5
16.8
73.5
100.0
0.0
2.3
7.9
16.9
72.7
100.0
-0.2
5.8
12.0
16.5
25.4
19.8
-0.2
6.5
12.8
16.8
25.4
20.0
2.7
0.8
0.2
*
0.0
97.3
99.2
99.8
100.0
100.0
-0.1
0.0
0.0
0.0
0.0
2.6
0.4
0.1
0.0
0.0
52
14
4
0
0
0.2
0.0
0.0
0.0
0.0
15.3
11.9
17.4
28.8
14.0
15.2
11.7
17.3
28.5
13.8
19.8
21.7
24.8
33.2
34.9
19.8
21.7
24.8
33.2
34.9
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Percentile Adjusted for Family Size, 2015 ¹
Expanded Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Tax Units
Number
(thousands)
Pre-Tax Income
Percent of
Total
Average
(dollars)
Federal Tax Burden
Percent of
Total
Average
(dollars)
Percent of
Total
Percent of
Total
Average
Federal Tax
6
Rate
After-Tax Income
Average
(dollars)
5
38,028
35,628
34,157
32,072
30,108
171,259
22.2
20.8
19.9
18.7
17.6
100.0
12,075
28,678
52,104
89,964
272,883
83,723
3.2
7.1
12.4
20.1
57.3
100.0
-25
1,671
6,236
14,840
69,295
16,582
0.0
2.1
7.5
16.8
73.5
100.0
12,100
27,007
45,868
75,124
203,588
67,140
4.0
8.4
13.6
21.0
53.3
100.0
-0.2
5.8
12.0
16.5
25.4
19.8
15,501
7,544
5,739
1,324
136
9.1
4.4
3.4
0.8
0.1
141,954
205,634
347,512
1,865,759
8,376,926
15.4
10.8
13.9
17.2
7.9
28,082
44,642
86,275
618,786
2,921,905
15.3
11.9
17.4
28.8
14.0
113,872
160,992
261,238
1,246,973
5,455,020
15.4
10.6
13.0
14.4
6.4
19.8
21.7
24.8
33.2
34.9
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
Number of AMT Taxpayers (millions). Baseline: 4.1
Proposal: 4.1
* Less than 0.05
(1) Calendar year. Baseline is current law. Table shows the tax benefit under current law of the partial exclusion from income of Social Security benefits. For a description of TPC's current law baseline, see
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class but
are included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The incomes used are adjusted
for family size by dividing by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2015 dollars): 20% $15,703; 40% $29,565; 60% $50,184; 80% $84,118; 90%
$122,704; 95% $171,602; 99% $405,273; 99.9% $2,000,055.
(4) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(5) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash
28-Jul-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0121
Tax Benefit of the Partial Exclusion of Social Security Benefits
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Percentile Adjusted for Family Size, 2015 ¹
Detail Table - Single Tax Units
Expanded Cash Income
2,3
Percentile
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Percent of Tax Units
With Benefit
Without
Benefit
Benefit as a
Percent of AfterTax Income 4
Share of
Total Benefit
Average Benefit
Dollars
Share of Federal Taxes
Percent of
Federal Taxes
With Provision
6
Average Federal Tax Rate
Without
Provision
With
Provision
Without
Provision
4.9
41.3
31.2
17.9
2.9
20.8
95.1
58.8
68.8
82.1
97.1
79.2
0.1
1.2
1.3
0.6
0.1
0.6
1.0
29.1
44.5
22.1
3.2
100.0
7
239
448
298
62
201
1.3
13.5
8.4
2.6
0.2
2.6
1.9
5.6
13.8
22.1
56.5
100.0
1.9
6.2
14.5
22.1
55.1
100.0
5.3
7.9
13.5
17.8
25.5
18.1
5.4
8.9
14.7
18.3
25.5
18.5
4.5
0.9
0.4
0.0
0.0
95.6
99.1
99.6
100.0
100.0
0.1
0.0
0.0
0.0
0.0
2.9
0.2
0.1
0.0
0.0
98
16
11
0
0
0.5
0.1
0.0
0.0
0.0
16.3
9.9
12.1
18.1
9.6
16.0
9.7
11.8
17.7
9.3
21.0
22.4
25.2
35.4
36.4
21.1
22.4
25.2
35.4
36.4
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Percentile Adjusted for Family Size, 2015 ¹
Expanded Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Tax Units
Pre-Tax Income
Average
(dollars)
Federal Tax Burden
Percent of
Total
Average
(dollars)
Percent of
Total
Average
Federal Tax
6
Rate
8,955
20,720
34,266
53,327
125,015
35,389
7.5
14.3
19.3
22.4
36.4
100.0
5.3
7.9
13.5
17.8
25.5
18.1
80,045
111,202
175,233
918,933
3,828,103
13.6
7.6
7.9
7.3
3.7
21.0
22.4
25.2
35.4
36.4
After-Tax Income
Number
(thousands)
Percent of
Total
Percent of
Total
25,695
21,192
17,313
12,893
8,920
86,656
29.7
24.5
20.0
14.9
10.3
100.0
9,457
22,491
39,633
64,900
167,774
43,186
6.5
12.7
18.3
22.4
40.0
100.0
502
1,771
5,366
11,573
42,760
7,797
1.9
5.6
13.8
22.1
56.5
100.0
5,197
2,099
1,381
244
29
6.0
2.4
1.6
0.3
0.0
101,295
143,204
234,173
1,421,673
6,021,732
14.1
8.0
8.6
9.3
4.7
21,250
32,002
58,941
502,740
2,193,630
16.3
9.9
12.1
18.1
9.6
Average
(dollars)
5
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
Number of AMT Taxpayers (millions). Baseline: 4.1
Proposal: 4.1
* Less than 0.05
(1) Calendar year. Baseline is current law. Table shows the tax benefit under current law of the partial exclusion from income of Social Security benefits. For a description of TPC's current law baseline, see
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class but are
included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2015 dollars): 20% $15,703; 40% $29,565; 60% $50,184; 80% $84,118; 90%
$122,704; 95% $171,602; 99% $405,273; 99.9% $2,000,055.
(4) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(5) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash income.
28-Jul-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0121
Tax Benefit of the Partial Exclusion of Social Security Benefits
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Percentile Adjusted for Family Size, 2015 ¹
Detail Table - Married Tax Units Filing Jointly
Expanded Cash Income
2,3
Percentile
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Percent of Tax Units
With Benefit
Without
Benefit
Benefit as a
Percent of AfterTax Income 4
Share of
Total Benefit
Average Benefit
Dollars
Share of Federal Taxes
Percent of
Federal Taxes
With Provision
6
Average Federal Tax Rate
Without
Provision
With
Provision
Without
Provision
0.9
22.5
32.6
16.7
1.2
13.7
99.1
77.5
67.4
83.3
98.8
86.3
0.0
0.5
1.0
0.3
0.0
0.2
0.1
9.3
51.1
36.4
3.0
100.0
2
176
604
297
19
220
-0.6
8.3
8.1
1.7
0.0
0.7
-0.1
0.7
4.1
13.9
81.2
100.0
-0.1
0.8
4.4
14.0
80.7
100.0
-1.9
5.3
10.9
15.7
25.3
21.6
-1.9
5.7
11.8
16.0
25.3
21.7
2.1
0.9
0.1
*
0.0
97.9
99.1
99.9
100.0
100.0
0.0
0.0
0.0
0.0
0.0
2.3
0.6
0.1
0.0
0.0
32
14
2
0
0
0.1
0.0
0.0
0.0
0.0
15.1
12.9
20.2
33.0
15.3
15.0
12.8
20.1
32.8
15.2
19.3
21.5
24.7
32.7
34.5
19.3
21.5
24.7
32.7
34.5
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Percentile Adjusted for Family Size, 2015 ¹
Expanded Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Tax Units
Pre-Tax Income
Average
(dollars)
Federal Tax Burden
Percent of
Total
Average
(dollars)
Percent of
Total
Average
Federal Tax
6
Rate
18,602
38,236
61,258
93,352
242,107
123,240
1.3
3.6
9.3
20.4
65.8
100.0
-1.9
5.3
10.9
15.7
25.3
21.6
134,184
183,357
292,211
1,312,512
5,901,009
17.4
12.9
16.9
18.6
8.0
19.3
21.5
24.7
32.7
34.5
After-Tax Income
Number
(thousands)
Percent of
Total
Percent of
Total
4,905
6,750
10,804
15,659
19,462
58,086
8.4
11.6
18.6
27.0
33.5
100.0
18,253
40,357
68,754
110,771
324,150
157,102
1.0
3.0
8.1
19.0
69.1
100.0
-349
2,121
7,496
17,419
82,042
33,862
-0.1
0.7
4.1
13.9
81.2
100.0
9,257
5,048
4,141
1,017
97
15.9
8.7
7.1
1.8
0.2
166,177
233,596
388,188
1,951,482
9,014,806
16.9
12.9
17.6
21.7
9.6
31,993
50,239
95,977
638,970
3,113,797
15.1
12.9
20.2
33.0
15.3
Average
(dollars)
5
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
Number of AMT Taxpayers (millions). Baseline: 4.1
Proposal: 4.1
* Less than 0.05
(1) Calendar year. Baseline is current law. Table shows the tax benefit under current law of the partial exclusion from income of Social Security benefits. For a description of TPC's current law baseline, see
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class but are
included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2015 dollars): 20% $15,703; 40% $29,565; 60% $50,184; 80% $84,118; 90%
$122,704; 95% $171,602; 99% $405,273; 99.9% $2,000,055.
(4) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(5) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash income.
28-Jul-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0121
Tax Benefit of the Partial Exclusion of Social Security Benefits
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Percentile Adjusted for Family Size, 2015 ¹
Detail Table - Head of Household Tax Units
Expanded Cash Income
2,3
Percentile
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Percent of Tax Units
With Benefit
Without
Benefit
Benefit as a
Percent of AfterTax Income 4
Share of
Total Benefit
Average Benefit
Share of Federal Taxes
Percent of
Federal Taxes
Dollars
With Provision
6
Average Federal Tax Rate
Without
Provision
With
Provision
Without
Provision
0.1
3.0
4.0
1.7
0.1
2.1
99.9
97.0
96.0
98.3
99.9
98.0
0.0
0.1
0.1
0.0
0.0
0.1
0.5
34.9
51.9
12.5
0.3
100.0
0
28
57
25
1
25
0.0
3.5
0.9
0.2
0.0
0.4
-9.3
4.3
24.9
33.4
46.6
100.0
-9.3
4.4
25.0
33.3
46.4
100.0
-10.3
2.2
10.6
16.9
24.9
11.1
-10.3
2.3
10.7
16.9
24.9
11.1
*
0.2
*
0.0
0.0
100.0
99.8
100.0
100.0
100.0
0.0
0.0
0.0
0.0
0.0
0.1
0.2
0.0
0.0
0.0
0
4
1
0
0
0.0
0.0
0.0
0.0
0.0
15.9
8.3
7.5
14.9
8.5
15.8
8.2
7.5
14.9
8.5
20.9
22.3
25.3
33.5
35.1
20.9
22.3
25.3
33.5
35.1
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Percentile Adjusted for Family Size, 2015 ¹
Expanded Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Tax Units
Pre-Tax Income
Average
(dollars)
Federal Tax Burden
Percent of
Total
Average
(dollars)
Percent of
Total
Average
Federal Tax
6
Rate
19,119
35,343
53,616
77,662
166,243
46,014
12.4
23.3
26.2
20.5
17.5
100.0
-10.3
2.2
10.6
16.9
24.9
11.1
110,428
151,446
242,520
1,405,864
6,980,760
7.5
3.6
2.8
3.7
2.0
20.9
22.3
25.3
33.5
35.1
After-Tax Income
Number
(thousands)
Percent of
Total
Percent of
Total
7,078
7,166
5,322
2,873
1,147
23,633
30.0
30.3
22.5
12.2
4.9
100.0
17,338
36,153
59,958
93,405
221,264
51,742
10.0
21.2
26.1
21.9
20.8
100.0
-1,781
810
6,341
15,743
55,020
5,728
-9.3
4.3
24.9
33.4
46.6
100.0
738
256
124
29
3
3.1
1.1
0.5
0.1
0.0
139,577
195,007
324,617
2,112,681
10,757,795
8.4
4.1
3.3
4.9
2.7
29,149
43,560
82,098
706,817
3,777,035
15.9
8.3
7.5
14.9
8.5
Average
(dollars)
5
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
Number of AMT Taxpayers (millions). Baseline: 4.1
Proposal: 4.1
* Less than 0.05
(1) Calendar year. Baseline is current law. Table shows the tax benefit under current law of the partial exclusion from income of Social Security benefits. For a description of TPC's current law baseline, see
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class but are
included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2015 dollars): 20% $15,703; 40% $29,565; 60% $50,184; 80% $84,118; 90%
$122,704; 95% $171,602; 99% $405,273; 99.9% $2,000,055.
(4) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(5) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash income.
28-Jul-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0121
Tax Benefit of the Partial Exclusion of Social Security Benefits
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Percentile Adjusted for Family Size, 2015 ¹
Detail Table - Tax Units with Children
Expanded Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Percent of Tax Units
With Benefit
Without
Benefit
Benefit as a
Percent of AfterTax Income 4
Share of
Total Benefit
Average Benefit
Dollars
Share of Federal Taxes
Percent of
Federal Taxes
With Provision
Average Federal Tax Rate6
Without
Provision
With
Provision
Without
Provision
0.1
3.1
4.4
0.9
0.1
1.7
99.9
96.9
95.6
99.1
99.9
98.3
0.0
0.1
0.1
0.0
0.0
0.0
0.3
29.0
58.5
11.5
0.7
100.0
0
43
87
18
1
30
0.0
3.8
1.1
0.1
0.0
0.1
-1.5
1.0
7.1
16.9
76.4
100.0
-1.5
1.0
7.1
16.9
76.3
100.0
-9.4
2.8
11.6
16.9
26.2
19.9
-9.4
3.0
11.7
16.9
26.2
20.0
0.1
0.1
0.0
0.0
0.0
99.9
99.9
100.0
100.0
100.0
0.0
0.0
0.0
0.0
0.0
0.6
0.2
0.0
0.0
0.0
2
1
0
0
0
0.0
0.0
0.0
0.0
0.0
15.0
11.5
18.6
31.2
14.3
15.0
11.5
18.6
31.2
14.3
20.1
22.3
25.9
33.4
34.6
20.1
22.3
25.9
33.4
34.6
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Percentile Adjusted for Family Size, 2015 ¹
Expanded Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Tax Units
Pre-Tax Income
Average
(dollars)
Percent of
Total
Average
Federal Tax
Rate 6
-1.5
1.0
7.1
16.9
76.4
100.0
20,090
38,952
62,905
100,954
273,970
95,383
4.3
8.4
13.5
20.8
53.7
100.0
-9.4
2.8
11.6
16.9
26.2
19.9
15.0
11.5
18.6
31.2
14.3
150,289
210,174
338,118
1,543,502
6,911,782
14.9
10.1
13.3
15.5
6.7
20.1
22.3
25.9
33.4
34.6
Federal Tax Burden
Number
(thousands)
Percent of
Total
Average
(dollars)
Percent of
Total
Average
(dollars)
10,060
10,242
10,174
9,772
9,316
49,840
20.2
20.6
20.4
19.6
18.7
100.0
18,362
40,092
71,124
121,436
371,025
119,143
3.1
6.9
12.2
20.0
58.2
100.0
-1,728
1,140
8,219
20,482
97,055
23,760
4,698
2,272
1,868
478
46
9.4
4.6
3.8
1.0
0.1
188,026
270,318
456,133
2,317,833
10,560,871
14.9
10.4
14.4
18.6
8.2
37,736
60,144
118,016
774,331
3,649,089
Percent of
Total
After-Tax Income 5
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
Number of AMT Taxpayers (millions). Baseline: 4.1
Proposal: 4.1
* 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. Table shows the tax benefit under current law of the partial exclusion from income of Social Security benefits. For a description of TPC's current law baselin
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class
but are included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The incomes used are
adjusted for family size by dividing by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2015 dollars): 20% $15,703; 40% $29,565; 60% $50,184; 80%
$84,118; 90% $122,704; 95% $171,602; 99% $405,273; 99.9% $2,000,055.
(4) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(5) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash
28-Jul-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0121
Tax Benefit of the Partial Exclusion of Social Security Benefits
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Percentile Adjusted for Family Size, 2015 ¹
Detail Table - Elderly Tax Units
Percent of Tax Units
Benefit as a
Percent of AfterTax Income 4
Average Benefit
Share of Federal Taxes
Expanded Cash Income
Percentile2,3
With Benefit
Without
Benefit
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
11.9
77.4
84.0
52.8
5.2
51.5
88.1
22.6
16.0
47.2
94.8
48.6
0.2
2.0
3.1
1.3
0.0
1.0
0.5
20.5
49.2
27.5
2.2
100.0
17
468
1,352
900
88
603
10.2
78.6
51.6
9.9
0.1
4.7
8.7
2.4
0.3
0.0
0.0
91.3
97.6
99.7
100.0
100.0
0.1
0.0
0.0
0.0
0.0
2.0
0.2
0.0
0.0
0.0
147
37
9
0
0
0.7
0.1
0.0
0.0
0.0
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Share of
Total Benefit
Dollars
Percent of
Federal Taxes
Average Federal Tax Rate6
Without
Provision
With
Provision
Without
Provision
0.2
1.2
4.5
13.2
80.4
100.0
0.2
2.1
6.5
13.9
76.8
100.0
1.5
2.5
5.6
11.3
25.1
17.2
1.6
4.4
8.5
12.4
25.1
18.0
13.4
10.5
15.5
40.9
22.4
12.9
10.1
14.8
39.1
21.3
16.6
19.7
23.6
33.9
35.6
16.7
19.8
23.6
33.9
35.6
With Provision
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Percentile Adjusted for Family Size, 2015 ¹
Expanded Cash Income
Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Tax Units
Pre-Tax Income
Average
(dollars)
Percent of
Total
Average
Federal Tax
Rate 6
0.2
1.2
4.5
13.2
80.4
100.0
11,309
23,591
43,907
71,806
199,669
61,279
3.1
10.2
15.7
21.6
49.8
100.0
1.5
2.5
5.6
11.3
25.1
17.2
13.4
10.5
15.5
40.9
22.4
105,629
148,338
237,545
1,237,337
4,860,407
14.0
8.9
10.4
16.5
8.4
16.6
19.7
23.6
33.9
35.6
Federal Tax Burden
Number
(thousands)
Percent of
Total
Average
(dollars)
Percent of
Total
Average
(dollars)
6,747
10,548
8,773
7,376
6,116
40,001
16.9
26.4
21.9
18.4
15.3
100.0
11,475
24,187
46,526
80,917
266,492
73,992
2.6
8.6
13.8
20.2
55.1
100.0
167
596
2,619
9,111
66,824
12,713
3,247
1,466
1,076
328
42
8.1
3.7
2.7
0.8
0.1
126,674
184,805
310,833
1,872,660
7,547,908
13.9
9.2
11.3
20.7
10.8
21,045
36,468
73,287
635,323
2,687,501
Percent of
Total
After-Tax Income 5
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
Number of AMT Taxpayers (millions). Baseline: 4.1
Proposal: 4.1
* 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. Table shows the tax benefit under current law of the partial exclusion from income of Social Security benefits. For a description of TPC's current law baselin
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class
but are included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) The income percentile classes used in this table are based on the income distribution for the entire population and contain an equal number of people, not tax units. The incomes used are
adjusted for family size by dividing by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2015 dollars): 20% $15,703; 40% $29,565; 60% $50,184; 80%
$84,118; 90% $122,704; 95% $171,602; 99% $405,273; 99.9% $2,000,055.
(4) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(5) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(6) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash