18-Jul-08
PRELIMINARY RESULTS
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 T08-0174
Senator Obama's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile, 2012 1
Summary Table
Percent of Tax Units4
2,3
Cash Income Percentile
With Tax Cut
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
With Tax
Increase
Percent
Change in
After-Tax
Income5
Share of Total
Federal Tax
Change
Average
Federal Tax
Change ($)
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
68.2
87.9
95.8
97.2
93.3
86.6
7.5
6.6
3.4
2.7
6.7
5.6
6.2
5.9
4.6
4.4
1.5
3.2
9.0
17.3
21.3
28.0
24.4
100.0
-698
-1,589
-2,132
-3,354
-3,328
-2,016
-5.8
-5.1
-3.7
-3.4
-1.1
-2.4
-0.4
8.0
15.5
18.9
27.5
21.6
97.0
96.8
88.2
59.2
29.5
3.0
3.2
11.8
40.7
70.5
4.4
3.8
2.3
-2.9
-5.1
18.6
10.9
9.1
-14.2
-11.3
-5,007
-6,070
-6,250
38,419
301,444
-3.3
-2.8
-1.7
1.9
3.3
21.7
23.3
26.5
35.1
39.0
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
22.6
Proposal:
5.0
(1) Calendar year. Baseline is current law. For a detailed discussion of the proposals see the Tax Policy Center's report A Preliminary Analysis of the 2008
Presidential Candidates' Tax Plans available on the TPC website. Assumes all proposals are fully phased in.
(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) The cash 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 2008 dollars): 20% $19,740, 40% $38,980, 60% $69,490, 80% $117,535, 90% $169,480, 95% $237,040, 99% $619,561, 99.9% $2,832,449.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) 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.
(6) 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.
18-Jul-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0174
Senator Obama's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile, 2012 1
Detail Table
Percent of Tax Units4
Cash Income Percentile2,3
With Tax Cut
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
With Tax
Increase
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
68.2
87.9
95.8
97.2
93.3
86.6
7.5
6.6
3.4
2.7
6.7
5.6
6.2
5.9
4.6
4.4
1.5
3.2
9.0
17.3
21.3
28.0
24.4
100.0
-698
-1,589
-2,132
-3,354
-3,328
-2,016
-108.2
-39.1
-19.2
-15.3
-3.8
-10.1
-0.9
-1.4
-1.1
-1.1
4.5
0.0
-0.1
3.0
10.1
17.5
69.4
100.0
-5.8
-5.1
-3.7
-3.4
-1.1
-2.4
-0.4
8.0
15.5
18.9
27.5
21.6
97.0
96.8
88.2
59.2
29.5
3.0
3.2
11.8
40.7
70.5
4.4
3.8
2.3
-2.9
-5.1
18.6
10.9
9.1
-14.2
-11.3
-5,007
-6,070
-6,250
38,419
301,444
-13.2
-10.8
-5.9
5.8
9.3
-0.5
-0.1
0.7
4.4
2.7
13.8
10.1
16.4
29.0
15.0
-3.3
-2.8
-1.7
1.9
3.3
21.7
23.3
26.5
35.1
39.0
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile, 2012 1
Tax Units4
Cash Income Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Number
(thousands)
Percent of
Total
Average
Income
(Dollars)
Average
Federal Tax
Burden
(Dollars)
Average AfterTax Income5
(Dollars)
Average
Federal Tax
Rate6
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
40,338
34,253
31,371
26,273
23,076
156,009
25.9
22.0
20.1
16.8
14.8
100.0
11,993
31,130
57,716
98,626
305,124
83,049
645
4,069
11,103
21,950
87,369
19,935
11,348
27,062
46,613
76,676
217,755
63,114
5.4
13.1
19.2
22.3
28.6
24.0
3.7
8.2
14.0
20.0
54.3
100.0
4.7
9.4
14.9
20.5
51.0
100.0
0.8
4.5
11.2
18.5
64.8
100.0
11,675
5,645
4,594
1,162
118
7.5
3.6
2.9
0.7
0.1
152,072
215,559
377,269
1,992,972
9,136,646
38,032
56,252
106,113
660,197
3,259,534
114,040
159,307
271,156
1,332,774
5,877,112
25.0
26.1
28.1
33.1
35.7
13.7
9.4
13.4
17.9
8.3
13.5
9.1
12.7
15.7
7.0
14.3
10.2
15.7
24.7
12.4
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
22.6
Proposal:
5.0
(1) Calendar year. Baseline is current law. For a detailed discussion of the proposals see the Tax Policy Center's report A Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC website.
Assumes all proposals are fully phased in.
(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) The cash 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 2008 dollars): 20% $19,740, 40%
$38,980, 60% $69,490, 80% $117,535, 90% $169,480, 95% $237,040, 99% $619,561, 99.9% $2,832,449.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) 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.
(6) 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.
18-Jul-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0174
Senator Obama's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2012 1
Detail Table
Percent of Tax Units4
Cash Income Percentile2,3
With Tax Cut
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
With Tax
Increase
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
71.9
80.1
93.4
97.3
93.4
86.6
6.0
7.8
4.5
2.5
6.5
5.6
7.5
6.4
5.1
4.3
1.6
3.2
8.8
16.3
20.6
27.5
26.9
100.0
-824
-1,584
-2,124
-2,920
-2,870
-2,016
-283.8
-49.1
-23.0
-15.6
-3.9
-10.1
-1.0
-1.5
-1.3
-1.1
4.8
0.0
-0.6
1.9
7.8
16.8
74.1
100.0
-7.3
-5.6
-4.2
-3.4
-1.1
-2.4
-4.8
5.8
13.9
18.4
27.3
21.6
97.3
95.5
89.4
57.8
30.5
2.7
4.4
10.6
42.1
69.5
4.0
3.6
2.5
-2.7
-5.0
18.4
11.7
10.8
-14.0
-11.6
-3,901
-4,934
-5,887
31,380
261,652
-12.1
-10.3
-6.5
5.5
9.2
-0.3
0.0
0.7
4.5
2.8
15.0
11.4
17.5
30.2
15.6
-3.0
-2.7
-1.8
1.8
3.3
21.8
23.4
26.1
34.8
38.7
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 2012 1
Tax Units4
Cash Income Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Number
(thousands)
Percent of
Total
Average
Income
(Dollars)
Average
Federal Tax
Burden
(Dollars)
Average AfterTax Income5
(Dollars)
Average
Federal Tax
Rate6
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
33,519
32,264
30,508
29,582
29,439
156,009
21.5
20.7
19.6
19.0
18.9
100.0
11,234
28,140
51,184
86,263
257,999
83,049
290
3,224
9,224
18,759
73,250
19,935
10,943
24,915
41,960
67,504
184,749
63,114
2.6
11.5
18.0
21.8
28.4
24.0
2.9
7.0
12.1
19.7
58.6
100.0
3.7
8.2
13.0
20.3
55.2
100.0
0.3
3.3
9.1
17.8
69.3
100.0
14,815
7,431
5,789
1,403
140
9.5
4.8
3.7
0.9
0.1
130,199
183,801
323,569
1,729,454
8,053,010
32,228
47,932
90,286
570,049
2,856,237
97,970
135,869
233,283
1,159,404
5,196,774
24.8
26.1
27.9
33.0
35.5
14.9
10.5
14.5
18.7
8.7
14.7
10.3
13.7
16.5
7.4
15.4
11.5
16.8
25.7
12.8
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
22.6
Proposal:
5.0
(1) Calendar year. Baseline is current law. For a detailed discussion of the proposals see the Tax Policy Center's report A Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC website.
Assumes all proposals are fully phased in.
(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) The cash 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 2008 dollars): 20% $13,571, 40% $25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) 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.
(6) 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.
18-Jul-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0174
Senator Obama's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2012 1
Detail Table - Single Tax Units
Percent of Tax Units4
Cash Income Percentile2,3
With Tax Cut
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
With Tax
Increase
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
63.3
68.6
91.6
95.7
89.9
78.8
7.1
11.7
5.5
4.0
9.9
7.8
6.6
4.7
4.4
3.3
2.2
3.4
12.0
16.7
21.7
21.7
27.8
100.0
-527
-882
-1,326
-1,597
-2,534
-1,204
-88.4
-34.5
-18.6
-11.3
-5.2
-11.0
-1.3
-1.4
-1.1
-0.1
3.9
0.0
0.2
3.9
11.7
21.1
63.0
100.0
-6.1
-4.1
-3.5
-2.6
-1.5
-2.6
0.8
7.9
15.5
20.3
28.0
21.0
94.7
90.4
83.4
50.5
28.6
5.1
9.3
16.6
49.2
71.4
3.5
3.4
3.7
-2.3
-5.9
14.1
9.0
11.8
-7.1
-7.6
-2,414
-3,277
-5,968
16,864
208,446
-10.0
-9.2
-9.2
4.1
9.2
0.2
0.2
0.3
3.2
2.1
15.7
11.0
14.3
22.0
11.2
-2.6
-2.5
-2.7
1.5
3.6
23.5
24.8
26.2
37.0
42.9
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 2012 1
Tax Units4
Cash Income Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Average
Income
(Dollars)
Average
Federal Tax
Burden
(Dollars)
Average AfterTax Income5
(Dollars)
Number
(thousands)
Percent of
Total
18,528
15,492
13,373
11,093
8,952
67,788
27.3
22.9
19.7
16.4
13.2
100.0
8,584
21,338
37,507
61,944
166,465
46,595
597
2,557
7,140
14,173
49,099
10,972
7,987
18,781
30,367
47,770
117,366
35,623
4,758
2,242
1,611
341
30
7.0
3.3
2.4
0.5
0.0
92,893
131,093
224,327
1,150,729
5,787,688
24,273
35,738
64,676
409,206
2,274,691
68,620
95,355
159,652
741,523
3,512,997
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
7.0
12.0
19.0
22.9
29.5
23.6
5.0
10.5
15.9
21.8
47.2
100.0
6.1
12.1
16.8
21.9
43.5
100.0
1.5
5.3
12.8
21.1
59.1
100.0
26.1
27.3
28.8
35.6
39.3
14.0
9.3
11.4
12.4
5.5
13.5
8.9
10.7
10.5
4.4
15.5
10.8
14.0
18.8
9.1
Average
Federal Tax
Rate6
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
22.6
Proposal:
5.0
(1) Calendar year. Baseline is current law. For a detailed discussion of the proposals see the Tax Policy Center's report A Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC website.
Assumes all proposals are fully phased in.
(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) The cash 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 2008 dollars): 20% $13,571, 40% $25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) 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.
(6) 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.
18-Jul-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0174
Senator Obama's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2012 1
Detail Table - Married Tax Units Filing Jointly
Percent of Tax Units4
Cash Income Percentile2,3
With Tax Cut
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
With Tax
Increase
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
76.1
85.6
92.9
98.0
94.9
91.8
8.0
7.2
5.1
1.8
5.1
5.0
8.2
7.0
5.4
4.8
1.5
2.9
4.3
10.9
18.2
33.3
33.2
100.0
-1,161
-2,244
-2,963
-3,982
-3,205
-2,974
-209.9
-54.0
-26.3
-18.0
-3.7
-8.6
-0.4
-0.9
-1.2
-1.6
4.0
0.0
-0.2
0.9
4.8
14.3
80.2
100.0
-7.9
-6.2
-4.5
-3.8
-1.1
-2.1
-4.1
5.3
12.6
17.3
27.1
22.9
98.5
97.7
92.1
60.5
31.6
1.5
2.3
7.8
39.5
68.4
4.2
3.7
2.3
-2.7
-4.8
23.9
15.6
13.1
-19.3
-15.2
-4,820
-5,797
-6,033
34,987
271,476
-13.1
-10.8
-5.9
5.7
9.1
-0.8
-0.3
0.5
4.6
2.8
14.9
12.1
19.4
33.8
17.1
-3.2
-2.8
-1.6
1.8
3.2
21.1
23.0
26.1
34.3
37.9
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 2012 1
Tax Units4
Cash Income Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Average
Income
(Dollars)
Average
Federal Tax
Burden
(Dollars)
Average AfterTax Income5
(Dollars)
Number
(thousands)
Percent of
Total
6,761
8,813
11,162
15,151
18,797
60,954
11.1
14.5
18.3
24.9
30.8
100.0
14,790
36,067
66,221
105,103
305,001
138,787
553
4,157
11,275
22,174
85,703
34,709
14,237
31,910
54,946
82,929
219,298
104,079
8,999
4,873
3,924
1,002
101
14.8
8.0
6.4
1.6
0.2
151,491
209,583
367,042
1,904,894
8,600,122
36,734
53,894
101,732
617,471
2,989,011
114,757
155,689
265,310
1,287,423
5,611,110
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
3.7
11.5
17.0
21.1
28.1
25.0
1.2
3.8
8.7
18.8
67.8
100.0
1.5
4.4
9.7
19.8
65.0
100.0
0.2
1.7
6.0
15.9
76.2
100.0
24.3
25.7
27.7
32.4
34.8
16.1
12.1
17.0
22.6
10.3
16.3
12.0
16.4
20.3
9.0
15.6
12.4
18.9
29.2
14.3
Average
Federal Tax
Rate6
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
22.6
Proposal:
5.0
(1) Calendar year. Baseline is current law. For a detailed discussion of the proposals see the Tax Policy Center's report A Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC website.
Assumes all proposals are fully phased in.
(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) The cash 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 2008 dollars): 20% $13,571, 40% $25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) 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.
(6) 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.
18-Jul-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0174
Senator Obama's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2012 1
Detail Table - Head of Household Tax Units
Percent of Tax Units4
Cash Income Percentile2,3
With Tax Cut
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
With Tax
Increase
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
Average Federal Tax Rate6
Change (%
Points)
Under the
Proposal
87.8
96.4
98.4
99.0
95.8
94.2
1.8
1.1
0.9
0.6
3.9
1.4
8.2
7.6
5.3
3.8
1.4
5.3
20.2
35.0
25.8
13.9
5.0
100.0
-1,239
-2,258
-2,397
-2,509
-2,047
-1,973
182.5
-66.0
-23.7
-13.2
-3.8
-25.8
-8.0
-7.4
0.8
4.6
10.0
0.0
-10.9
6.3
28.9
31.7
44.0
100.0
-8.6
-6.9
-4.4
-3.0
-1.0
-4.4
-13.3
3.5
14.0
19.4
26.1
12.6
98.7
96.8
87.8
61.5
32.5
1.1
2.3
11.9
38.2
67.5
2.9
2.7
1.6
-2.9
-5.3
4.4
1.6
1.2
-2.1
-1.6
-2,741
-3,402
-3,574
30,415
269,784
-8.8
-7.7
-4.5
6.0
9.8
2.9
1.3
2.0
3.9
2.0
15.7
6.4
9.0
12.8
6.3
-2.2
-2.0
-1.2
2.0
3.5
22.9
24.1
25.1
34.5
38.8
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 2012 1
Tax Units4
Cash Income Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Average
Income
(Dollars)
Average
Federal Tax
Burden
(Dollars)
Average AfterTax Income5
(Dollars)
Number
(thousands)
Percent of
Total
7,961
7,556
5,252
2,696
1,198
24,714
32.2
30.6
21.3
10.9
4.9
100.0
14,430
32,988
55,112
84,953
197,502
45,216
-679
3,420
10,128
19,018
53,640
7,659
15,109
29,568
44,983
65,935
143,862
37,557
774
222
168
34
3
3.1
0.9
0.7
0.1
0.0
124,547
169,438
299,897
1,548,845
7,820,896
31,286
44,185
78,731
504,599
2,760,637
93,261
125,253
221,166
1,044,247
5,060,259
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
-4.7
10.4
18.4
22.4
27.2
16.9
10.3
22.3
25.9
20.5
21.2
100.0
13.0
24.1
25.5
19.2
18.6
100.0
-2.9
13.7
28.1
27.1
33.9
100.0
25.1
26.1
26.3
32.6
35.3
8.6
3.4
4.5
4.7
2.0
7.8
3.0
4.0
3.8
1.6
12.8
5.2
7.0
9.0
4.2
Average
Federal Tax
Rate6
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
22.6
Proposal:
5.0
(1) Calendar year. Baseline is current law. For a detailed discussion of the proposals see the Tax Policy Center's report A Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC website.
Assumes all proposals are fully phased in.
(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) The cash 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 2008 dollars): 20% $13,571, 40% $25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) 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.
(6) 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.
18-Jul-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0174
Senator Obama's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2012 1
Detail Table - Tax Units with Children
4
Percent of Tax Units
Cash Income Percentile2,3
With Tax Cut
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
With Tax
Increase
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
6
Average Federal Tax Rate
Under the
Proposal
Change (%
Points)
Under the
Proposal
93.7
99.3
99.5
99.6
96.3
97.7
0.7
0.5
0.5
0.4
3.7
1.1
9.6
9.0
6.2
5.6
1.7
4.2
9.6
18.8
22.3
29.3
20.0
100.0
-1,594
-2,976
-3,449
-4,929
-3,973
-3,349
189.2
-70.6
-26.8
-18.8
-4.0
-13.2
-1.6
-2.3
-1.7
-1.3
6.9
0.0
-2.2
1.2
9.3
19.3
72.4
100.0
-10.1
-8.0
-5.1
-4.3
-1.2
-3.2
-15.4
3.3
13.8
18.7
28.0
20.9
99.6
98.9
91.5
66.0
31.0
0.4
1.1
8.4
34.0
69.0
4.4
4.0
2.0
-2.7
-5.0
15.0
8.5
5.8
-9.4
-7.6
-5,693
-7,126
-6,052
40,349
341,417
-12.9
-10.8
-4.8
5.3
9.1
0.1
0.3
1.6
5.0
2.9
15.5
10.7
17.6
28.6
14.0
-3.3
-2.9
-1.4
1.8
3.2
22.3
23.9
27.5
35.8
38.8
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 2012 1
Tax Units4
Cash Income Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Average
Income
(Dollars)
Average
Federal Tax
Burden
(Dollars)
Average AfterTax Income5
(Dollars)
Number
(thousands)
Percent of
Total
9,871
10,311
10,593
9,721
8,230
48,864
20.2
21.1
21.7
19.9
16.8
100.0
15,772
37,449
68,197
113,901
336,992
105,014
-842
4,213
12,889
26,221
98,358
25,322
16,614
33,236
55,307
87,680
238,634
79,693
4,312
1,958
1,579
381
37
8.8
4.0
3.2
0.8
0.1
173,044
245,817
435,654
2,253,531
10,557,678
44,250
65,822
125,654
765,296
3,752,993
128,793
179,995
310,000
1,488,235
6,804,684
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
-5.3
11.3
18.9
23.0
29.2
24.1
3.0
7.5
14.1
21.6
54.1
100.0
4.2
8.8
15.1
21.9
50.4
100.0
-0.7
3.5
11.0
20.6
65.4
100.0
25.6
26.8
28.8
34.0
35.6
14.5
9.4
13.4
16.7
7.5
14.3
9.1
12.6
14.6
6.4
15.4
10.4
16.0
23.6
11.1
Average
Federal Tax
Rate6
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
22.6
Proposal:
5.0
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. For a detailed discussion of the proposals see the Tax Policy Center's report A Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC website.
Assumes all proposals are fully phased in.
(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) The cash 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 divi
by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40% $25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252, 99.9%
$1,726,142.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) 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.
(6) 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.
18-Jul-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0174
Senator Obama's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2012 1
Detail Table - Elderly Tax Units
4
Percent of Tax Units
Cash Income Percentile2,3
With Tax Cut
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
With Tax
Increase
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax
Change
Average Federal Tax Change
Dollars
Percent
Share of Federal Taxes
Change (%
Points)
Under the
Proposal
6
Average Federal Tax Rate
Change (%
Points)
Under the
Proposal
23.6
41.8
70.7
89.0
82.2
59.3
18.7
23.8
20.4
10.2
17.7
18.6
1.1
1.7
2.9
2.9
1.1
1.7
2.1
9.4
17.1
32.4
38.9
100.0
-119
-384
-1,207
-1,975
-2,169
-1,101
-43.8
-33.6
-32.4
-16.8
-3.0
-6.3
-0.1
-0.5
-0.9
-1.4
2.9
0.0
0.2
1.2
2.4
10.8
85.3
100.0
-1.1
-1.6
-2.7
-2.5
-0.8
-1.3
1.4
3.2
5.5
12.4
26.5
19.8
89.3
84.5
78.2
39.2
20.4
10.5
15.2
21.8
60.8
79.6
3.6
3.7
3.2
-3.2
-5.7
27.8
21.7
28.8
-39.4
-31.3
-3,441
-4,774
-6,974
32,880
258,003
-14.4
-12.5
-8.9
6.3
10.0
-1.1
-0.7
-0.6
5.3
3.4
11.1
10.2
19.8
44.3
23.1
-2.9
-2.8
-2.4
2.1
3.6
17.2
19.9
24.2
35.6
40.1
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 2012 1
Tax Units4
Cash Income Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Average
Income
(Dollars)
Average
Federal Tax
Burden
(Dollars)
Average AfterTax Income5
(Dollars)
Number
(thousands)
Percent of
Total
5,982
8,200
4,773
5,522
6,034
30,530
19.6
26.9
15.6
18.1
19.8
100.0
11,174
23,916
45,520
79,079
267,452
82,817
271
1,141
3,726
11,760
73,098
17,527
10,904
22,775
41,794
67,319
194,353
65,289
2,713
1,529
1,389
403
41
8.9
5.0
4.6
1.3
0.1
118,899
168,044
295,666
1,548,708
7,103,107
23,874
38,204
78,566
518,468
2,586,975
95,025
129,839
217,100
1,030,240
4,516,133
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
2.4
4.8
8.2
14.9
27.3
21.2
2.6
7.8
8.6
17.3
63.8
100.0
3.3
9.4
10.0
18.7
58.8
100.0
0.3
1.8
3.3
12.1
82.4
100.0
20.1
22.7
26.6
33.5
36.4
12.8
10.2
16.3
24.7
11.5
12.9
10.0
15.1
20.8
9.2
12.1
10.9
20.4
39.0
19.7
Average
Federal Tax
Rate6
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-6).
Number of AMT Taxpayers (millions). Baseline:
22.6
Proposal:
5.0
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. For a detailed discussion of the proposals see the Tax Policy Center's report A Preliminary Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC website.
Assumes all proposals are fully phased in.
(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) The cash 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 divi
by the square root of the number of people in the tax unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40% $25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252, 99.9%
$1,726,142.
(4) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(5) 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.
(6) 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.