13-Jun-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 T08-0124
Repeal Individual Alternative Minimum Tax (AMT)
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
0.0
0.1
7.1
39.5
81.2
20.1
0.0
0.0
0.0
0.1
0.3
0.1
0.0
0.0
0.1
0.7
2.0
1.2
0.0
0.0
1.5
12.5
86.0
100.0
0
0
-53
-518
-4,027
-695
0.0
0.0
-0.1
-0.6
-1.4
-0.9
4.6
10.7
16.8
19.4
24.9
20.9
76.1
89.1
91.6
52.9
37.5
0.2
0.2
0.4
1.1
0.3
1.7
2.4
3.3
0.9
0.7
19.0
18.3
35.5
13.2
4.4
-1,758
-3,506
-8,320
-12,223
-39,761
-1.3
-1.8
-2.4
-0.7
-0.5
21.5
22.7
24.0
28.9
30.9
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0308-5).
Number of AMT Taxpayers (millions). Baseline:
30.0
Proposal:
0.0
(1) Calendar year. Baseline is current law, proposal repeals individual AMT effective 01/01/09.
(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.
13-Jun-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0124
Repeal Individual Alternative Minimum Tax (AMT)
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
0.0
0.1
7.1
39.5
81.2
20.1
0.0
0.0
0.0
0.1
0.3
0.1
0.0
0.0
0.1
0.7
2.0
1.2
0.0
0.0
1.5
12.5
86.0
100.0
0
0
-53
-518
-4,027
-695
0.0
0.0
-0.6
-3.0
-5.5
-4.2
0.0
0.2
0.4
0.2
-0.9
0.0
0.8
4.2
11.1
18.1
65.6
100.0
0.0
0.0
-0.1
-0.6
-1.4
-0.9
4.6
10.7
16.8
19.4
24.9
20.9
76.1
89.1
91.6
52.9
37.5
0.2
0.2
0.4
1.1
0.3
1.7
2.4
3.3
0.9
0.7
19.0
18.3
35.5
13.2
4.4
-1,758
-3,506
-8,320
-12,223
-39,761
-5.7
-7.4
-9.2
-2.2
-1.4
-0.2
-0.4
-0.9
0.6
0.4
13.9
10.1
15.5
26.2
13.3
-1.3
-1.8
-2.4
-0.7
-0.5
21.5
22.7
24.0
28.9
30.9
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, 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
492
3,000
8,778
17,543
73,511
16,404
10,252
25,056
43,146
70,450
205,733
58,885
4.6
10.7
16.9
19.9
26.3
21.8
3.7
8.2
13.8
19.6
55.0
100.0
4.5
9.3
14.7
20.0
51.8
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
30,858
47,129
90,301
559,181
2,799,258
104,285
145,138
250,684
1,330,756
6,130,152
22.8
24.5
26.5
29.6
31.4
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 0308-5).
Number of AMT Taxpayers (millions). Baseline:
30.0
Proposal:
0.0
(1) Calendar year. Baseline is current law, proposal repeals individual AMT effective 01/01/09.
(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.
13-Jun-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0124
Repeal Individual Alternative Minimum Tax (AMT)
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
0.0
0.9
9.7
32.7
62.4
20.1
0.0
0.0
0.0
0.1
0.2
0.1
0.0
0.0
0.3
1.0
1.7
1.2
0.0
0.2
2.9
16.0
81.0
100.0
0
-6
-102
-586
-2,969
-695
0.0
-0.3
-1.4
-3.9
-4.8
-4.2
0.0
0.1
0.3
0.1
-0.4
0.0
0.1
2.9
8.9
17.5
70.5
100.0
0.0
0.0
-0.2
-0.8
-1.3
-0.9
1.0
8.6
15.6
18.9
24.8
20.9
54.2
64.9
81.3
56.8
40.2
0.1
0.2
0.3
1.1
0.3
1.4
1.9
2.8
1.0
0.7
17.1
16.1
32.9
14.8
4.6
-1,250
-2,341
-6,125
-11,364
-35,892
-4.7
-5.9
-8.0
-2.4
-1.5
-0.1
-0.2
-0.7
0.5
0.4
15.2
11.4
16.7
27.3
13.9
-1.1
-1.4
-2.1
-0.7
-0.5
21.8
22.8
24.0
28.8
30.9
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
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
100
2,179
7,297
15,059
61,416
16,404
9,958
23,082
38,776
61,714
173,941
58,885
1.0
8.6
15.8
19.6
26.1
21.8
2.9
6.9
11.9
19.3
59.3
100.0
3.7
8.1
12.8
19.9
56.0
100.0
0.1
2.7
8.6
17.4
71.0
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
26,380
39,651
76,231
483,613
2,461,476
89,175
123,771
215,930
1,156,979
5,401,474
22.8
24.3
26.1
29.5
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
26.7
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 0308-5).
Number of AMT Taxpayers (millions). Baseline:
30.0
Proposal:
0.0
(1) Calendar year. Baseline is current law, proposal repeals individual AMT effective 01/01/09.
(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.
13-Jun-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0124
Repeal Individual Alternative Minimum Tax (AMT)
Distribution of Federal Tax Change by Cash Income Percentile Adjusted for Family Size, 2009 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
0.0
0.0
0.1
1.5
17.5
2.6
0.0
0.0
0.0
0.0
0.2
0.0
0.0
0.0
0.0
0.0
0.7
0.3
0.0
0.1
0.3
2.7
96.9
100.0
0
0
-2
-18
-781
-108
0.0
0.0
0.0
-0.2
-2.0
-1.2
0.0
0.1
0.2
0.2
-0.5
0.0
1.5
5.3
13.0
20.9
59.2
100.0
0.0
0.0
0.0
0.0
-0.5
-0.3
6.5
10.9
17.8
20.9
26.0
21.2
4.7
13.5
51.2
59.6
45.6
0.0
0.3
0.4
0.4
0.2
0.1
0.3
1.3
1.1
0.7
4.9
8.8
43.4
39.9
11.1
-75
-281
-1,923
-8,295
-26,100
-0.4
-1.0
-3.7
-2.4
-1.4
0.1
0.0
-0.4
-0.2
0.0
15.4
10.7
13.6
19.6
9.8
-0.1
-0.2
-1.0
-0.8
-0.5
23.6
24.3
24.5
30.9
34.3
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
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
497
2,077
5,971
11,471
40,093
9,021
7,153
17,005
27,543
43,399
111,339
33,031
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
19,438
28,499
51,432
343,832
1,927,898
62,759
87,699
150,451
743,811
3,622,694
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
6.5
10.9
17.8
20.9
26.5
21.5
5.0
10.3
15.4
21.2
48.3
100.0
6.0
11.7
16.1
21.3
45.2
100.0
1.5
5.2
12.8
20.7
59.7
100.0
23.7
24.5
25.5
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 0308-5).
Number of AMT Taxpayers (millions). Baseline:
30.0
Proposal:
0.0
(1) Calendar year. Baseline is current law, proposal repeals individual AMT effective 01/01/09.
(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.
13-Jun-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0124
Repeal Individual Alternative Minimum Tax (AMT)
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 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
0.0
0.7
14.8
49.4
82.5
40.4
0.0
0.0
0.0
0.2
0.3
0.1
0.0
0.0
0.3
1.3
2.0
1.6
0.0
0.0
2.0
16.0
81.9
100.0
0
-4
-165
-966
-4,034
-1,504
0.0
-0.1
-1.9
-5.5
-5.6
-5.3
0.0
0.1
0.2
0.0
-0.3
0.0
0.0
1.4
5.8
15.4
77.3
100.0
0.0
0.0
-0.3
-1.0
-1.5
-1.2
0.8
8.1
14.2
17.9
24.5
21.6
78.1
87.7
93.3
55.7
38.3
0.2
0.1
0.4
1.3
0.3
1.8
2.3
3.2
1.0
0.6
18.2
17.3
33.4
13.2
4.1
-1,862
-3,282
-7,891
-12,203
-37,532
-6.2
-7.3
-9.0
-2.3
-1.5
-0.1
-0.3
-0.8
0.9
0.6
15.4
12.3
18.7
30.9
15.5
-1.4
-1.8
-2.4
-0.7
-0.4
21.1
22.4
23.9
28.4
30.2
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
108
2,635
8,598
17,620
72,332
28,501
13,235
29,762
50,840
75,665
206,173
96,654
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
30,236
45,117
87,290
526,405
2,594,724
104,331
141,712
245,012
1,287,574
5,870,118
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
0.8
8.1
14.5
18.9
26.0
22.8
1.2
3.7
8.8
18.6
68.0
100.0
1.5
4.4
9.8
19.5
65.1
100.0
0.0
1.3
5.6
15.4
77.5
100.0
22.5
24.2
26.3
29.0
30.7
15.8
11.8
16.9
23.5
11.1
15.8
11.6
16.1
21.6
9.9
15.6
12.5
19.5
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 0308-5).
Number of AMT Taxpayers (millions). Baseline:
30.0
Proposal:
0.0
(1) Calendar year. Baseline is current law, proposal repeals individual AMT effective 01/01/09.
(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.
13-Jun-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0124
Repeal Individual Alternative Minimum Tax (AMT)
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 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
0.0
2.6
19.9
56.7
74.0
14.6
0.0
0.0
0.0
0.1
0.1
0.0
0.0
0.1
0.5
1.1
1.9
0.7
0.0
2.1
16.5
30.7
50.8
100.0
0
-16
-187
-683
-2,491
-238
0.0
-0.9
-2.4
-4.4
-5.5
-4.1
-0.2
0.3
0.5
-0.1
-0.5
0.0
-5.2
9.9
28.7
28.6
38.0
100.0
0.0
-0.1
-0.4
-0.9
-1.4
-0.6
-6.8
5.9
15.3
19.5
24.0
13.6
68.6
83.0
90.5
57.5
43.4
0.0
0.3
0.0
1.2
0.0
1.6
2.4
2.9
0.9
0.5
17.4
10.4
17.4
5.7
1.3
-1,317
-2,743
-6,091
-10,058
-26,958
-5.1
-7.4
-8.8
-2.3
-1.1
-0.1
-0.2
-0.4
0.2
0.2
14.1
5.6
7.8
10.5
5.1
-1.2
-1.8
-2.2
-0.7
-0.4
22.4
22.8
22.9
28.6
30.7
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
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
-884
1,768
7,719
15,455
45,572
5,735
13,836
27,824
41,564
60,129
133,855
34,616
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
25,956
36,890
69,369
441,957
2,411,547
84,010
112,991
207,126
1,068,301
5,358,991
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
20.5
25.4
14.2
10.4
22.7
25.6
20.0
21.5
100.0
13.0
24.8
25.1
18.5
18.7
100.0
-5.0
9.5
28.2
28.7
38.5
100.0
23.6
24.6
25.1
29.3
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 0308-5).
Number of AMT Taxpayers (millions). Baseline:
30.0
Proposal:
0.0
(1) Calendar year. Baseline is current law, proposal repeals individual AMT effective 01/01/09.
(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.
13-Jun-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0124
Repeal Individual Alternative Minimum Tax (AMT)
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
0.0
2.5
25.2
74.9
92.5
36.6
0.0
0.0
0.0
0.1
0.2
0.1
0.0
0.1
0.5
2.0
2.5
1.8
0.0
0.3
4.5
23.5
71.7
100.0
0
-16
-272
-1,565
-5,551
-1,319
0.0
-0.8
-2.8
-7.5
-6.7
-6.4
-0.1
0.1
0.4
-0.2
-0.2
0.0
-1.3
2.3
10.6
19.8
68.5
100.0
0.0
-0.1
-0.5
-1.6
-1.8
-1.4
-8.6
6.1
15.3
19.0
25.3
20.2
94.1
97.4
94.5
41.0
31.6
0.1
0.0
0.4
1.4
0.2
2.7
3.6
3.7
0.8
0.6
21.1
17.9
25.8
6.9
2.4
-3,121
-5,817
-10,422
-11,500
-40,760
-8.5
-10.4
-9.7
-1.8
-1.3
-0.4
-0.5
-0.6
1.2
0.7
15.6
10.6
16.4
25.9
12.6
-2.0
-2.7
-2.7
-0.5
-0.4
22.0
22.9
24.7
29.6
30.7
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
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
2,068
9,631
20,833
83,013
20,579
15,369
31,559
51,527
80,366
223,653
74,702
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
36,825
55,890
107,330
645,248
3,203,046
116,239
162,581
285,383
1,499,381
7,092,801
Share of PreTax Income
Percent of
Total
Share of PostTax Income
Percent of
Total
Share of
Federal Taxes
Percent of
Total
-8.6
6.2
15.8
20.6
27.1
21.6
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
24.1
25.6
27.3
30.1
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 0308-5).
Number of AMT Taxpayers (millions). Baseline:
30.0
Proposal:
0.0
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, proposal repeals individual AMT effective 01/01/09.
(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.
13-Jun-08
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T08-0124
Repeal Individual Alternative Minimum Tax (AMT)
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
0.0
0.0
1.1
13.2
52.5
13.1
0.0
0.0
0.0
0.0
0.1
0.0
0.0
0.0
0.0
0.2
1.3
0.8
0.0
0.0
0.3
4.4
95.3
100.0
0
0
-9
-118
-2,383
-497
0.0
0.0
-0.3
-1.4
-4.0
-3.5
0.0
0.1
0.1
0.3
-0.4
0.0
0.3
1.7
3.1
11.6
83.3
100.0
0.0
0.0
0.0
-0.2
-1.0
-0.7
2.3
4.1
6.8
12.2
23.4
18.2
40.7
48.6
73.2
72.6
56.4
0.2
0.1
0.1
0.1
0.0
0.6
0.8
2.1
1.3
0.9
9.0
9.9
39.8
36.7
11.2
-509
-954
-4,259
-13,374
-40,262
-2.8
-3.3
-6.8
-3.1
-1.8
0.1
0.0
-0.7
0.2
0.4
11.2
10.5
19.8
41.8
21.6
-0.5
-0.7
-1.6
-0.9
-0.6
16.7
19.0
22.0
29.0
31.7
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
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
225
875
2,809
8,659
59,970
14,237
9,733
20,385
38,366
61,221
186,310
61,485
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
18,075
29,062
62,825
434,831
2,184,728
87,278
118,800
203,409
1,016,293
4,584,158
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
24.4
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
17.2
19.7
23.6
30.0
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
21.2
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 0308-5).
Number of AMT Taxpayers (millions). Baseline:
30.0
Proposal:
0.0
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, proposal repeals individual AMT effective 01/01/09.
(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.