23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2011 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 15,203 25,652 19,661 15,178 12,708 23,224 14,662 25,027 8,944 1,115 445 163,330 Percent of Total 9.3 15.7 12.0 9.3 7.8 14.2 9.0 15.3 5.5 0.7 0.3 100.0 Average Income (Dollars) 5,463 13,922 23,265 32,717 42,077 57,725 81,437 129,520 265,603 630,051 2,734,718 73,398 Average Federal Tax Burden (Dollars) 233 213 792 2,281 4,005 6,788 11,543 21,733 54,902 156,586 741,411 12,131 Average After-Tax Income 3 (Dollars) 5,229 13,709 22,473 30,436 38,072 50,936 69,894 107,787 210,701 473,466 1,993,308 61,267 Average Federal Tax Rate 4 4.3 1.5 3.4 7.0 9.5 11.8 14.2 16.8 20.7 24.9 27.1 16.5 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.7 3.0 3.8 4.1 4.5 11.2 10.0 27.0 19.8 5.9 10.1 100.0 0.8 3.5 4.4 4.6 4.8 11.8 10.2 27.0 18.8 5.3 8.9 100.0 0.2 0.3 0.8 1.8 2.6 8.0 8.5 27.5 24.8 8.8 16.6 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.5 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2012 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 15,540 25,834 19,625 14,885 13,138 23,618 14,816 25,385 9,214 1,218 565 165,067 Percent of Total 9.4 15.7 11.9 9.0 8.0 14.3 9.0 15.4 5.6 0.7 0.3 100.0 Average Income (Dollars) 5,581 14,255 23,753 33,410 42,991 58,949 83,105 132,340 271,848 647,907 2,912,777 78,052 Average Federal Tax Burden (Dollars) 243 203 807 2,302 4,103 7,024 11,904 22,518 56,961 163,191 786,060 13,321 Average After-Tax Income 3 (Dollars) 5,338 14,053 22,946 31,108 38,888 51,925 71,200 109,822 214,887 484,717 2,126,717 64,731 Average Federal Tax Rate 4 4.4 1.4 3.4 6.9 9.5 11.9 14.3 17.0 21.0 25.2 27.0 17.1 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.7 2.9 3.6 3.9 4.4 10.8 9.6 26.1 19.4 6.1 12.8 100.0 0.8 3.4 4.2 4.3 4.8 11.5 9.9 26.1 18.5 5.5 11.3 100.0 0.2 0.2 0.7 1.6 2.5 7.5 8.0 26.0 23.9 9.0 20.2 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.6 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2013 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 15,424 25,980 19,963 15,341 13,257 24,215 14,988 26,552 8,497 1,060 559 167,102 Percent of Total 9.2 15.6 12.0 9.2 7.9 14.5 9.0 15.9 5.1 0.6 0.3 100.0 Average Income (Dollars) 5,567 14,482 24,085 33,897 43,610 59,843 84,340 134,318 277,151 672,914 3,010,425 78,099 Average Federal Tax Burden (Dollars) 297 316 1,065 2,738 4,696 7,887 13,199 24,838 62,023 186,712 1,015,581 14,866 Average After-Tax Income 3 (Dollars) 5,270 14,166 23,021 31,159 38,914 51,957 71,141 109,480 215,128 486,203 1,994,844 63,232 Average Federal Tax Rate 4 5.3 2.2 4.4 8.1 10.8 13.2 15.7 18.5 22.4 27.8 33.7 19.0 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.7 2.9 3.7 4.0 4.4 11.1 9.7 27.3 18.0 5.5 12.9 100.0 0.8 3.5 4.4 4.5 4.9 11.9 10.1 27.5 17.3 4.9 10.6 100.0 0.2 0.3 0.9 1.7 2.5 7.7 8.0 26.6 21.2 8.0 22.9 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 3.8 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2014 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 15,347 26,039 20,361 15,765 13,447 24,111 15,175 26,371 9,484 1,204 619 169,165 Percent of Total 9.1 15.4 12.0 9.3 8.0 14.3 9.0 15.6 5.6 0.7 0.4 100.0 Average Income (Dollars) 5,652 14,791 24,467 34,432 44,401 60,868 85,803 136,422 279,479 669,814 2,905,211 81,033 Average Federal Tax Burden (Dollars) 302 353 1,097 2,859 4,804 8,063 13,575 25,529 63,664 187,164 983,150 15,737 Average After-Tax Income 3 (Dollars) 5,349 14,437 23,370 31,573 39,597 52,806 72,228 110,893 215,814 482,650 1,922,062 65,297 Average Federal Tax Rate 4 5.4 2.4 4.5 8.3 10.8 13.3 15.8 18.7 22.8 27.9 33.8 19.4 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.6 2.8 3.6 4.0 4.4 10.7 9.5 26.2 19.3 5.9 13.1 100.0 0.7 3.4 4.3 4.5 4.8 11.5 9.9 26.5 18.5 5.3 10.8 100.0 0.2 0.4 0.8 1.7 2.4 7.3 7.7 25.3 22.7 8.5 22.8 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.0 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2015 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 14,727 26,248 20,958 16,159 13,672 24,036 15,591 26,693 9,954 1,284 673 171,259 Percent of Total 8.6 15.3 12.2 9.4 8.0 14.0 9.1 15.6 5.8 0.8 0.4 100.0 Average Income (Dollars) 5,642 14,969 24,710 34,754 44,867 61,486 86,698 138,229 282,645 674,624 2,963,371 83,723 Average Federal Tax Burden (Dollars) 379 441 1,149 2,911 4,926 8,148 13,818 26,055 65,087 189,422 1,011,094 16,582 Average After-Tax Income 3 (Dollars) 5,264 14,529 23,562 31,844 39,942 53,338 72,879 112,174 217,558 485,202 1,952,276 67,140 Average Federal Tax Rate 4 6.7 2.9 4.7 8.4 11.0 13.3 15.9 18.9 23.0 28.1 34.1 19.8 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.6 2.7 3.6 3.9 4.3 10.3 9.4 25.7 19.6 6.0 13.9 100.0 0.7 3.3 4.3 4.5 4.8 11.2 9.9 26.0 18.8 5.4 11.4 100.0 0.2 0.4 0.9 1.7 2.4 6.9 7.6 24.5 22.8 8.6 24.0 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.1 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2017 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 14,702 25,348 22,394 16,078 13,210 24,010 16,256 27,808 10,657 1,348 733 173,829 Percent of Total 8.5 14.6 12.9 9.3 7.6 13.8 9.4 16.0 6.1 0.8 0.4 100.0 Average Income (Dollars) 5,919 15,734 25,823 36,370 46,825 64,422 90,593 144,829 294,594 702,903 3,164,558 90,289 Average Federal Tax Burden (Dollars) 472 582 1,461 3,189 5,350 8,901 14,721 27,495 68,580 199,877 1,098,223 18,447 Average After-Tax Income 3 (Dollars) 5,447 15,152 24,362 33,180 41,475 55,522 75,873 117,334 226,014 503,026 2,066,335 71,842 Average Federal Tax Rate 4 8.0 3.7 5.7 8.8 11.4 13.8 16.3 19.0 23.3 28.4 34.7 20.4 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.6 2.5 3.7 3.7 3.9 9.9 9.4 25.7 20.0 6.0 14.8 100.0 0.6 3.1 4.4 4.3 4.4 10.7 9.9 26.1 19.3 5.4 12.1 100.0 0.2 0.5 1.0 1.6 2.2 6.7 7.5 23.8 22.8 8.4 25.1 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.5 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2016 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 14,724 26,039 21,906 16,072 13,205 23,789 15,880 27,265 10,362 1,317 705 172,532 Percent of Total 8.5 15.1 12.7 9.3 7.7 13.8 9.2 15.8 6.0 0.8 0.4 100.0 Average Income (Dollars) 5,753 15,359 25,245 35,565 45,784 62,910 88,631 141,622 288,418 686,585 3,064,525 86,987 Average Federal Tax Burden (Dollars) 439 539 1,382 3,153 5,244 8,655 14,527 27,050 67,568 195,971 1,066,076 17,747 Average After-Tax Income 3 (Dollars) 5,313 14,820 23,863 32,412 40,540 54,255 74,103 114,572 220,849 490,614 1,998,449 69,241 Average Federal Tax Rate 4 7.6 3.5 5.5 8.9 11.5 13.8 16.4 19.1 23.4 28.5 34.8 20.4 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.6 2.7 3.7 3.8 4.0 10.0 9.4 25.7 19.9 6.0 14.4 100.0 0.7 3.2 4.4 4.4 4.5 10.8 9.9 26.2 19.2 5.4 11.8 100.0 0.2 0.5 1.0 1.7 2.3 6.7 7.5 24.1 22.9 8.4 24.6 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.3 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2018 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 14,436 25,141 22,741 16,045 13,357 24,181 16,514 28,453 10,793 1,356 761 175,149 Percent of Total 8.2 14.4 13.0 9.2 7.6 13.8 9.4 16.3 6.2 0.8 0.4 100.0 Average Income (Dollars) 6,063 16,107 26,469 37,201 47,921 65,918 92,693 148,076 301,023 718,418 3,274,146 93,387 Average Federal Tax Burden (Dollars) 548 807 1,710 3,441 5,587 9,259 15,137 28,133 69,668 203,387 1,133,653 19,235 Average After-Tax Income 3 (Dollars) 5,515 15,300 24,759 33,760 42,335 56,659 77,556 119,943 231,355 515,030 2,140,493 74,152 Average Federal Tax Rate 4 9.0 5.0 6.5 9.3 11.7 14.1 16.3 19.0 23.1 28.3 34.6 20.6 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.5 2.5 3.7 3.7 3.9 9.8 9.4 25.8 19.9 6.0 15.2 100.0 0.6 3.0 4.3 4.2 4.4 10.6 9.9 26.3 19.2 5.4 12.5 100.0 0.2 0.6 1.2 1.6 2.2 6.7 7.4 23.8 22.3 8.2 25.6 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.5 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2019 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 13,949 24,653 22,998 16,388 13,276 24,725 16,841 29,226 10,920 1,352 771 176,494 Percent of Total 7.9 14.0 13.0 9.3 7.5 14.0 9.5 16.6 6.2 0.8 0.4 100.0 Average Income (Dollars) 6,212 16,547 27,117 38,084 49,091 67,517 94,874 151,245 305,669 731,080 3,518,459 96,851 Average Federal Tax Burden (Dollars) 564 831 1,734 3,440 5,565 9,405 15,293 28,429 69,907 206,938 1,212,204 19,859 Average After-Tax Income 3 (Dollars) 5,648 15,716 25,384 34,645 43,527 58,112 79,581 122,816 235,762 524,142 2,306,255 76,992 Average Federal Tax Rate 4 9.1 5.0 6.4 9.0 11.3 13.9 16.1 18.8 22.9 28.3 34.5 20.5 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.5 2.4 3.7 3.7 3.8 9.8 9.4 25.9 19.5 5.8 15.9 100.0 0.6 2.9 4.3 4.2 4.3 10.6 9.9 26.4 19.0 5.2 13.1 100.0 0.2 0.6 1.1 1.6 2.1 6.6 7.4 23.7 21.8 8.0 26.7 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.5 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2020 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 13,612 24,080 23,223 16,760 13,203 25,313 17,179 29,797 11,115 1,370 799 177,863 Percent of Total 7.7 13.5 13.1 9.4 7.4 14.2 9.7 16.8 6.3 0.8 0.5 100.0 Average Income (Dollars) 6,321 16,969 27,797 39,015 50,355 69,215 97,203 154,565 311,584 743,762 3,651,089 100,389 Average Federal Tax Burden (Dollars) 583 855 1,745 3,416 5,595 9,638 15,526 28,828 70,730 209,512 1,252,087 20,524 Average After-Tax Income 3 (Dollars) 5,739 16,114 26,052 35,600 44,760 59,578 81,677 125,737 240,854 534,250 2,399,002 79,865 Average Federal Tax Rate 4 9.2 5.0 6.3 8.8 11.1 13.9 16.0 18.7 22.7 28.2 34.3 20.4 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.5 2.3 3.6 3.7 3.7 9.8 9.4 25.8 19.4 5.7 16.3 100.0 0.6 2.7 4.3 4.2 4.2 10.6 9.9 26.4 18.9 5.2 13.5 100.0 0.2 0.6 1.1 1.6 2.0 6.7 7.3 23.5 21.5 7.9 27.4 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.5 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2021 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 13,419 23,703 23,054 17,038 13,159 26,017 17,461 30,392 11,340 1,404 837 179,257 Percent of Total 7.5 13.2 12.9 9.5 7.3 14.5 9.7 17.0 6.3 0.8 0.5 100.0 Average Income (Dollars) 6,497 17,455 28,498 39,904 51,544 70,880 99,525 158,479 317,916 759,149 3,686,850 103,987 Average Federal Tax Burden (Dollars) 600 868 1,773 3,406 5,669 9,855 15,893 29,546 71,869 212,850 1,263,250 21,270 Average After-Tax Income 3 (Dollars) 5,898 16,587 26,725 36,497 45,876 61,025 83,632 128,933 246,046 546,299 2,423,599 82,718 Average Federal Tax Rate 4 9.2 5.0 6.2 8.5 11.0 13.9 16.0 18.6 22.6 28.0 34.3 20.5 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.5 2.2 3.5 3.7 3.6 9.9 9.3 25.8 19.3 5.7 16.6 100.0 0.5 2.7 4.2 4.2 4.1 10.7 9.9 26.4 18.8 5.2 13.7 100.0 0.2 0.5 1.1 1.5 2.0 6.7 7.3 23.6 21.4 7.8 27.7 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.6 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2022 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 12,979 22,782 23,646 17,168 13,245 26,758 17,686 31,022 11,659 1,414 874 180,675 Percent of Total 7.2 12.6 13.1 9.5 7.3 14.8 9.8 17.2 6.5 0.8 0.5 100.0 Average Income (Dollars) 6,637 17,792 29,107 40,883 52,865 72,597 101,948 162,131 324,630 777,105 3,752,194 107,861 Average Federal Tax Burden (Dollars) 617 918 1,770 3,385 5,782 10,034 16,204 30,098 73,168 217,276 1,283,393 22,050 Average After-Tax Income 3 (Dollars) 6,020 16,875 27,336 37,498 47,084 62,564 85,744 132,033 251,463 559,829 2,468,802 85,811 Average Federal Tax Rate 4 9.3 5.2 6.1 8.3 10.9 13.8 15.9 18.6 22.5 28.0 34.2 20.4 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.4 2.1 3.5 3.6 3.6 10.0 9.3 25.8 19.4 5.6 16.8 100.0 0.5 2.5 4.2 4.2 4.0 10.8 9.8 26.4 18.9 5.1 13.9 100.0 0.2 0.5 1.1 1.5 1.9 6.7 7.2 23.4 21.4 7.7 28.2 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.7 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2023 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 12,914 22,265 23,455 17,400 13,496 27,344 17,949 31,626 11,897 1,415 911 182,119 Percent of Total 7.1 12.2 12.9 9.6 7.4 15.0 9.9 17.4 6.5 0.8 0.5 100.0 Average Income (Dollars) 6,835 18,279 29,854 41,848 54,154 74,387 104,582 165,590 329,823 793,258 3,857,878 111,629 Average Federal Tax Burden (Dollars) 626 952 1,817 3,381 5,919 10,275 16,658 30,768 74,008 221,953 1,320,087 22,890 Average After-Tax Income 3 (Dollars) 6,210 17,327 28,037 38,467 48,236 64,112 87,924 134,823 255,815 571,305 2,537,791 88,739 Average Federal Tax Rate 4 9.2 5.2 6.1 8.1 10.9 13.8 15.9 18.6 22.4 28.0 34.2 20.5 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.4 2.0 3.4 3.6 3.6 10.0 9.2 25.8 19.3 5.5 17.3 100.0 0.5 2.4 4.1 4.1 4.0 10.9 9.8 26.4 18.8 5.0 14.3 100.0 0.2 0.5 1.0 1.4 1.9 6.7 7.2 23.3 21.1 7.5 28.9 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.7 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2024 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 12,655 21,993 23,564 17,184 13,744 27,740 18,399 32,375 12,127 1,402 949 183,587 Percent of Total 6.9 12.0 12.8 9.4 7.5 15.1 10.0 17.6 6.6 0.8 0.5 100.0 Average Income (Dollars) 6,975 18,740 30,679 42,876 55,455 76,180 107,129 169,358 335,368 811,836 3,961,002 115,570 Average Federal Tax Burden (Dollars) 635 990 1,831 3,419 6,034 10,490 17,085 31,446 75,254 227,103 1,355,850 23,770 Average After-Tax Income 3 (Dollars) 6,340 17,750 28,848 39,456 49,421 65,690 90,044 137,912 260,115 584,734 2,605,151 91,800 Average Federal Tax Rate 4 9.1 5.3 6.0 8.0 10.9 13.8 16.0 18.6 22.4 28.0 34.2 20.6 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.4 1.9 3.4 3.5 3.6 10.0 9.3 25.8 19.2 5.4 17.7 100.0 0.5 2.3 4.0 4.0 4.0 10.8 9.8 26.5 18.7 4.9 14.7 100.0 0.2 0.5 1.0 1.4 1.9 6.7 7.2 23.3 20.9 7.3 29.5 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.7 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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. 23-Jun-15 PRELIMINARY RESULTS http://www.taxpolicycenter.org Table T15-0025 Baseline Distribution of Income and Federal Taxes by Expanded Cash Income Level, 2025 ¹ Expanded Cash Income Level (thousands of 2015 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 Number (thousands) 12,335 21,429 23,617 17,137 14,035 28,431 18,825 32,905 12,503 1,414 983 185,081 Percent of Total 6.7 11.6 12.8 9.3 7.6 15.4 10.2 17.8 6.8 0.8 0.5 100.0 Average Income (Dollars) 7,153 19,222 31,437 43,934 56,804 77,938 109,758 173,505 343,510 835,598 3,995,613 119,685 Average Federal Tax Burden (Dollars) 657 1,020 1,870 3,428 6,208 10,725 17,520 32,232 77,274 233,755 1,370,798 24,686 Average After-Tax Income 3 (Dollars) 6,496 18,203 29,567 40,506 50,596 67,214 92,237 141,273 266,236 601,844 2,624,815 94,999 Average Federal Tax Rate 4 9.2 5.3 6.0 7.8 10.9 13.8 16.0 18.6 22.5 28.0 34.3 20.6 Share of PreTax Income Share of PostTax Income Share of Federal Taxes Percent of Total Percent of Total Percent of Total 0.4 1.9 3.4 3.4 3.6 10.0 9.3 25.8 19.4 5.3 17.7 100.0 0.5 2.2 4.0 4.0 4.0 10.9 9.9 26.4 18.9 4.8 14.7 100.0 0.2 0.5 1.0 1.3 1.9 6.7 7.2 23.2 21.2 7.2 29.5 100.0 Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1). Number of AMT Taxpayers (millions): 4.8 * Less than 0.05 (1) Calendar year. Baseline is current law. For a description of current law, 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) 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. (4) 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.