26-Sep-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 T08-0218
Repeal Individual Income Tax on Long-Term Capital Gains
Distribution of Federal Tax Change by Cash Income Percentile, 2009
Summary Table
Percent of Tax Units
4
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
5
Income
Share of Total
Federal Tax
Change
Average
Federal Tax
Change ($)
1
Average Federal Tax Rate
Change (%
Points)
6
Under the
Proposal
0.2
0.6
3.7
8.3
26.1
6.2
0.6
2.0
4.7
9.5
18.5
5.9
0.0
0.0
0.0
0.0
2.1
1.1
-0.1
-0.2
-0.4
-0.4
101.0
100.0
1
5
13
14
-4,309
-633
0.0
0.0
0.0
0.0
-1.5
-0.8
4.7
10.7
16.9
19.9
24.7
20.9
17.4
27.2
38.7
58.6
77.2
14.5
19.2
26.4
24.6
15.0
0.1
0.4
1.4
5.0
7.2
1.1
3.5
16.9
79.6
52.7
-88
-605
-3,606
-66,928
-439,106
-0.1
-0.3
-1.1
-3.5
-4.9
22.7
24.1
25.3
26.0
26.4
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-7).
Number of AMT Taxpayers (millions). Baseline:
29.9
Proposal: 29.7
(1) Calendar year. Baseline is current law. Proposal would exclude long-term capital gains and losses from adjusted gross income.
(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% $18,981, 40% $37,595, 60% $66,354, 80% $111,645, 90% $160,972, 95% $226,918, 99% $603,402, 99.9%
$2,871,682.
(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.
26-Sep-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0218
Repeal Individual Income Tax on Long-Term Capital Gains
Distribution of Federal Tax Change by Cash Income Percentile, 2009 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
0.2
0.6
3.7
8.3
26.1
6.2
0.6
2.0
4.7
9.5
18.5
5.9
0.0
0.0
0.0
0.0
2.1
1.1
-0.1
-0.2
-0.4
-0.4
101.0
100.0
1
5
13
14
-4,309
-633
0.3
0.2
0.2
0.1
-5.9
-3.9
0.0
0.2
0.5
0.7
-1.4
0.0
0.8
4.2
11.2
18.6
65.1
100.0
0.0
0.0
0.0
0.0
-1.5
-0.8
4.7
10.7
16.9
19.9
24.7
20.9
17.4
27.2
38.7
58.6
77.2
14.5
19.2
26.4
24.6
15.0
0.1
0.4
1.4
5.0
7.2
1.1
3.5
16.9
79.6
52.7
-88
-605
-3,606
-66,928
-439,106
-0.3
-1.3
-4.0
-12.0
-15.7
0.5
0.3
0.0
-2.2
-1.6
14.6
10.7
16.3
23.5
11.4
-0.1
-0.3
-1.1
-3.5
-4.9
22.7
24.1
25.3
26.0
26.4
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, 2009 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
39,102
32,942
30,075
25,152
22,287
150,241
26.0
21.9
20.0
16.7
14.8
100.0
10,744
28,057
51,924
87,992
279,244
75,289
503
2,995
8,762
17,506
73,318
16,368
10,242
25,061
43,162
70,486
205,926
58,921
4.7
10.7
16.9
19.9
26.3
21.7
3.7
8.2
13.8
19.6
55.0
100.0
4.5
9.3
14.7
20.0
51.9
100.0
0.8
4.0
10.7
17.9
66.5
100.0
11,264
5,439
4,454
1,131
114
7.5
3.6
3.0
0.8
0.1
135,143
192,266
340,985
1,889,937
8,929,410
30,780
46,974
89,918
558,396
2,798,312
104,362
145,292
251,068
1,331,541
6,131,098
22.8
24.4
26.4
29.6
31.3
13.5
9.3
13.4
18.9
9.0
13.3
8.9
12.6
17.0
7.9
14.1
10.4
16.3
25.7
13.0
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-7).
Number of AMT Taxpayers (millions). Baseline:
29.9
Proposal: 29.7
(1) Calendar year. Baseline is current law. Proposal would exclude long-term capital gains and losses from adjusted gross income.
(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% $18,981, 40%
$37,595, 60% $66,354, 80% $111,645, 90% $160,972, 95% $226,918, 99% $603,402, 99.9% $2,871,682.
(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.
26-Sep-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0218
Repeal Individual Income Tax on Long-Term Capital Gains
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2009 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
0.2
0.5
1.4
6.4
24.1
6.2
0.3
1.7
3.6
8.0
17.1
5.9
0.0
0.0
0.0
-0.1
1.9
1.1
0.0
-0.1
-0.4
-0.9
101.4
100.0
0
3
13
29
-3,384
-633
0.1
0.2
0.2
0.2
-5.5
-3.9
0.0
0.1
0.4
0.7
-1.2
0.0
0.2
2.9
9.0
18.2
69.7
100.0
0.0
0.0
0.0
0.0
-1.4
-0.8
1.1
8.6
15.8
19.6
24.6
20.9
15.1
25.0
37.6
58.2
76.0
13.1
18.1
24.3
24.3
15.7
0.0
0.3
1.2
5.0
7.1
0.4
2.5
15.9
82.6
54.6
-25
-333
-2,692
-57,658
-384,362
-0.1
-0.8
-3.6
-11.9
-15.6
0.6
0.4
0.1
-2.3
-1.7
15.9
11.9
17.4
24.5
11.9
0.0
-0.2
-0.9
-3.5
-4.9
22.8
24.0
25.1
25.9
26.4
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, 2009 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
32,429
30,972
29,186
28,494
28,475
150,241
21.6
20.6
19.4
19.0
19.0
100.0
10,059
25,261
46,073
76,773
235,357
75,289
113
2,175
7,282
15,031
61,259
16,368
9,946
23,086
38,792
61,742
174,098
58,921
1.1
8.6
15.8
19.6
26.0
21.7
2.9
6.9
11.9
19.3
59.3
100.0
3.6
8.1
12.8
19.9
56.0
100.0
0.2
2.7
8.6
17.4
70.9
100.0
14,316
7,191
5,606
1,362
135
9.5
4.8
3.7
0.9
0.1
115,555
163,422
292,160
1,640,591
7,862,950
26,312
39,538
75,920
482,929
2,460,653
89,242
123,885
216,241
1,157,663
5,402,297
22.8
24.2
26.0
29.4
31.3
14.6
10.4
14.5
19.8
9.4
14.4
10.1
13.7
17.8
8.2
15.3
11.6
17.3
26.8
13.5
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-7).
Number of AMT Taxpayers (millions). Baseline:
29.9
Proposal: 29.7
(1) Calendar year. Baseline is current law. Proposal would exclude long-term capital gains and losses from adjusted gross income.
(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% $12,921, 40% $24,393, 60% $41,924, 80% $67,748, 90% $96,780, 95% $137,143, 99% $359,711,
99.9% $1,730,730.
(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.
26-Sep-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0218
Repeal Individual Income Tax on Long-Term Capital Gains
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2009 1
Detail Table - Single Tax Units
Percent of Tax Units 4
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 Rate 6
Change (%
Points)
Under the
Proposal
0.2
0.5
1.3
6.7
22.0
4.4
0.4
1.9
3.2
6.4
14.2
4.1
0.0
0.0
0.0
0.0
1.8
0.8
-0.1
-0.4
-0.8
-1.1
102.4
100.0
1
5
11
18
-2,027
-266
0.1
0.2
0.2
0.2
-5.1
-3.0
0.1
0.2
0.4
0.7
-1.3
0.0
1.6
5.4
13.2
21.3
58.3
100.0
0.0
0.0
0.0
0.0
-1.3
-0.6
6.8
10.9
17.8
20.9
25.1
20.8
13.8
23.2
36.8
57.0
74.7
11.2
15.0
19.9
23.2
16.3
0.0
0.3
1.4
5.5
7.7
0.5
3.1
19.4
79.4
48.1
-19
-244
-2,114
-40,582
-278,466
-0.1
-0.9
-4.1
-11.8
-14.5
0.5
0.2
-0.2
-1.8
-1.2
15.7
10.9
13.7
18.0
8.7
0.0
-0.2
-1.1
-3.7
-5.0
23.6
24.3
24.4
27.9
29.7
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, 2009 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
17,979
14,788
12,570
10,552
8,719
64,958
27.7
22.8
19.4
16.2
13.4
100.0
7,650
19,082
33,514
54,870
151,432
42,053
516
2,077
5,964
11,460
40,030
9,015
7,134
17,005
27,550
43,410
111,402
33,037
4,605
2,193
1,584
338
30
7.1
3.4
2.4
0.5
0.1
82,197
116,199
201,882
1,087,643
5,550,592
19,414
28,449
51,286
343,540
1,927,491
62,782
87,749
150,597
744,103
3,623,101
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
6.8
10.9
17.8
20.9
26.4
21.4
5.0
10.3
15.4
21.2
48.3
100.0
6.0
11.7
16.1
21.4
45.3
100.0
1.6
5.3
12.8
20.7
59.6
100.0
23.6
24.5
25.4
31.6
34.7
13.9
9.3
11.7
13.5
6.1
13.5
9.0
11.1
11.7
5.0
15.3
10.7
13.9
19.8
9.8
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 0308-7).
(1) Calendar year. Baseline is current law. Proposal would exclude long-term capital gains and losses from adjusted gross income.
(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% $12,921, 40% $24,393, 60% $41,924, 80% $67,748, 90% $96,780, 95% $137,143, 99% $359,711,
99.9% $1,730,730.
(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.
26-Sep-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0218
Repeal Individual Income Tax on Long-Term Capital Gains
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2009 1
Detail Table - Married Tax Units Filing Jointly
Percent of Tax Units 4
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 Rate 6
Change (%
Points)
Under the
Proposal
0.3
0.8
1.8
6.6
25.8
10.0
0.4
2.3
4.8
9.9
18.9
9.5
0.0
0.0
0.0
-0.1
2.0
1.3
0.0
0.0
-0.3
-0.9
101.1
100.0
-1
2
17
42
-4,036
-1,218
-0.7
0.1
0.2
0.2
-5.6
-4.3
0.0
0.1
0.3
0.7
-1.1
0.0
0.1
1.4
5.9
16.2
76.4
100.0
0.0
0.0
0.0
0.1
-1.5
-1.0
0.9
8.1
14.4
18.9
24.5
21.7
16.3
26.5
38.4
58.8
76.6
14.6
19.6
26.4
24.7
15.6
0.0
0.3
1.2
4.9
7.0
0.3
2.4
15.1
83.3
55.4
-22
-372
-2,902
-62,559
-413,295
-0.1
-0.8
-3.3
-11.9
-15.9
0.7
0.5
0.2
-2.4
-1.8
16.2
13.0
19.6
27.6
13.1
0.0
-0.2
-0.9
-3.5
-4.9
22.4
23.9
25.3
25.5
25.8
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, 2009 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
6,621
8,578
11,027
14,829
18,163
59,479
11.1
14.4
18.5
24.9
30.5
100.0
13,343
32,397
59,438
93,284
278,505
125,155
114
2,623
8,568
17,576
72,127
28,420
13,229
29,774
50,870
75,709
206,378
96,734
8,717
4,700
3,780
965
97
14.7
7.9
6.4
1.6
0.2
134,567
186,829
332,302
1,813,978
8,464,842
30,144
44,970
86,905
525,582
2,593,753
104,423
141,859
245,396
1,288,396
5,871,089
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
0.9
8.1
14.4
18.8
25.9
22.7
1.2
3.7
8.8
18.6
68.0
100.0
1.5
4.4
9.8
19.5
65.2
100.0
0.0
1.3
5.6
15.4
77.5
100.0
22.4
24.1
26.2
29.0
30.6
15.8
11.8
16.9
23.5
11.1
15.8
11.6
16.1
21.6
9.9
15.5
12.5
19.4
30.0
14.9
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 0308-7).
(1) Calendar year. Baseline is current law. Proposal would exclude long-term capital gains and losses from adjusted gross income.
(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% $12,921, 40% $24,393, 60% $41,924, 80% $67,748, 90% $96,780, 95% $137,143, 99% $359,711,
99.9% $1,730,730.
(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.
26-Sep-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0218
Repeal Individual Income Tax on Long-Term Capital Gains
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2009 1
Detail Table - Head of Household Tax Units
Percent of Tax Units 4
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 Rate 6
Change (%
Points)
Under the
Proposal
0.0
0.3
1.1
4.9
14.4
1.5
0.1
0.6
2.1
4.5
11.6
1.7
0.0
0.0
0.0
0.0
1.6
0.3
0.2
-0.4
-1.8
-0.5
102.6
100.0
-1
1
9
5
-2,121
-100
0.1
0.1
0.1
0.0
-4.7
-1.8
-0.1
0.2
0.5
0.5
-1.1
0.0
-5.1
9.7
28.7
29.3
37.3
100.0
0.0
0.0
0.0
0.0
-1.2
-0.3
-6.8
6.0
15.7
20.4
24.2
14.0
9.5
14.3
30.9
48.2
70.3
8.1
16.6
18.1
28.0
15.6
0.1
0.3
1.8
5.0
7.4
2.9
3.1
25.0
71.6
47.0
-94
-347
-3,686
-53,464
-398,710
-0.4
-0.9
-5.3
-12.1
-16.5
0.2
0.1
-0.3
-1.1
-0.8
14.4
5.8
7.9
9.2
4.2
-0.1
-0.2
-1.3
-3.5
-5.1
23.5
24.3
23.7
25.7
25.9
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, 2009 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
7,558
7,198
4,877
2,482
1,128
23,292
32.5
30.9
20.9
10.7
4.8
100.0
12,952
29,592
49,284
75,584
179,427
40,351
-881
1,766
7,715
15,444
45,468
5,728
13,833
27,827
41,569
60,141
133,959
34,623
730
209
158
31
3
3.1
0.9
0.7
0.1
0.0
109,967
149,881
276,495
1,510,258
7,770,538
25,901
36,826
69,122
441,166
2,410,890
84,066
113,055
207,373
1,069,092
5,359,648
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
-6.8
6.0
15.7
20.4
25.3
14.2
10.4
22.7
25.6
20.0
21.5
100.0
13.0
24.8
25.1
18.5
18.8
100.0
-5.0
9.5
28.2
28.7
38.5
100.0
23.6
24.6
25.0
29.2
31.0
8.6
3.3
4.7
5.0
2.3
7.6
2.9
4.1
4.1
1.8
14.2
5.8
8.2
10.3
5.0
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 0308-7).
(1) Calendar year. Baseline is current law. Proposal would exclude long-term capital gains and losses from adjusted gross income.
(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% $12,921, 40% $24,393, 60% $41,924, 80% $67,748, 90% $96,780, 95% $137,143, 99% $359,711,
99.9% $1,730,730.
(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.
26-Sep-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0218
Repeal Individual Income Tax on Long-Term Capital Gains
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2009 1
Detail Table - Tax Units with Children
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
0.1
0.6
1.4
4.8
23.1
5.3
0.2
1.2
3.7
7.9
19.1
5.9
0.0
0.0
0.0
-0.1
1.7
0.9
0.0
0.0
-0.5
-1.1
101.5
100.0
-1
0
14
37
-3,866
-649
0.1
0.0
0.1
0.2
-4.7
-3.2
0.0
0.1
0.4
0.7
-1.1
0.0
-1.2
2.2
10.5
20.8
67.6
100.0
0.0
0.0
0.0
0.0
-1.3
-0.7
-8.6
6.1
15.7
20.6
25.7
20.9
14.8
25.3
35.2
54.8
75.9
14.1
20.8
28.5
28.0
15.5
0.0
0.3
1.1
4.6
6.9
0.5
2.9
15.1
83.0
58.2
-36
-466
-3,004
-68,361
-492,296
-0.1
-0.8
-2.8
-10.6
-15.4
0.5
0.3
0.1
-1.9
-1.5
16.5
11.3
17.1
22.8
10.5
0.0
-0.2
-0.8
-3.2
-4.8
24.0
25.3
26.4
26.9
26.3
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, 2009 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
9,648
10,138
10,440
9,539
8,194
48,094
20.1
21.1
21.7
19.8
17.0
100.0
14,150
33,628
61,157
101,199
306,666
95,281
-1,219
2,059
9,606
20,788
82,744
20,517
15,369
31,569
51,551
80,411
223,922
74,764
4,292
1,951
1,572
379
37
8.9
4.1
3.3
0.8
0.1
153,064
218,471
392,713
2,144,629
10,295,847
36,705
55,657
106,809
644,153
3,201,837
116,359
162,814
285,905
1,500,476
7,094,010
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
-8.6
6.1
15.7
20.5
27.0
21.5
3.0
7.4
13.9
21.1
54.8
100.0
4.1
8.9
15.0
21.3
51.0
100.0
-1.2
2.1
10.2
20.1
68.7
100.0
24.0
25.5
27.2
30.0
31.1
14.3
9.3
13.5
17.7
8.3
13.9
8.8
12.5
15.8
7.3
16.0
11.0
17.0
24.7
12.0
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 0308-7).
Note: Tax units with children are those claiming an exemption for children at home or away from home.
(1) Calendar year. Baseline is current law. Proposal would exclude long-term capital gains and losses from adjusted gross income.
(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% $12,921, 40% $24,393, 60% $41,924, 80% $67,748, 90% $96,780, 95% $137,143, 99% $359,711,
99.9% $1,730,730.
(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.
26-Sep-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0218
Repeal Individual Income Tax on Long-Term Capital Gains
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2009 1
Detail Table - Elderly 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
0.1
0.5
2.9
17.2
40.4
11.8
0.4
2.5
6.0
15.3
23.3
9.1
0.0
0.0
-0.1
-0.1
3.1
1.8
0.0
-0.1
-0.3
-0.6
101.1
100.0
0
6
23
37
-5,767
-1,134
0.2
0.7
0.8
0.4
-9.6
-8.0
0.0
0.2
0.3
1.0
-1.5
0.0
0.3
1.8
3.3
12.3
82.2
100.0
0.0
0.0
0.1
0.1
-2.3
-1.5
2.3
4.1
6.9
12.4
22.0
17.3
30.1
39.3
52.3
70.6
83.2
22.5
25.8
23.7
17.8
11.9
0.1
0.6
2.3
6.4
7.9
0.6
3.1
19.2
78.2
44.3
-80
-673
-4,699
-64,993
-362,850
-0.4
-2.3
-7.5
-15.0
-16.6
0.9
0.6
0.1
-3.2
-2.0
12.0
11.1
20.6
38.5
19.3
-0.1
-0.5
-1.8
-4.5
-5.4
17.0
19.2
21.8
25.5
26.9
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, 2009 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
5,675
7,562
4,371
5,321
5,689
28,639
19.8
26.4
15.3
18.6
19.9
100.0
9,958
21,260
41,175
69,880
246,281
75,721
227
875
2,804
8,637
59,867
14,211
9,731
20,386
38,371
61,243
186,414
61,510
2,500
1,471
1,329
391
40
8.7
5.1
4.6
1.4
0.1
105,353
147,862
266,234
1,451,124
6,768,885
18,022
29,002
62,653
434,474
2,184,219
87,331
118,860
203,582
1,016,650
4,584,666
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
2.3
4.1
6.8
12.4
24.3
18.8
2.6
7.4
8.3
17.2
64.6
100.0
3.1
8.8
9.5
18.5
60.2
100.0
0.3
1.6
3.0
11.3
83.7
100.0
17.1
19.6
23.5
29.9
32.3
12.1
10.0
16.3
26.1
12.4
12.4
9.9
15.4
22.5
10.3
11.1
10.5
20.5
41.7
21.3
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 0308-7).
Note: Elderly tax units are those with either head or spouse (if filing jointly) age 65 or older.
(1) Calendar year. Baseline is current law. Proposal would exclude long-term capital gains and losses from adjusted gross income.
(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% $12,921, 40% $24,393, 60% $41,924, 80% $67,748, 90% $96,780, 95% $137,143, 99% $359,711,
99.9% $1,730,730.
(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.