14-Dec-09
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 T09-0486
Distribution of Taxes on Long-Term Capital Gains by Cash Income Percentile, 2012
Baseline: Current Law 1
Summary Table
2,3
Cash Income Percentile
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Percent of Tax Units 4
Paying
Paying Positive
Negative Tax
Tax on Gains
on Gains
Percent
Change in
After-Tax
5
Income
Share of Total
Federal Tax on
Gains
Average
Federal Tax
Change ($)
Average Federal Tax Rate6
On Gains
On All Income
0.0
0.0
0.0
0.0
0.0
0.0
0.5
2.3
5.0
10.6
24.5
7.1
0.0
0.0
-0.1
-0.1
-2.0
-1.1
0.0
0.2
0.6
2.2
97.0
100.0
1
4
20
82
4,182
638
2.3
4.3
8.6
13.1
19.0
18.4
5.2
12.2
18.1
21.5
28.2
23.4
0.0
0.0
0.0
0.0
0.0
17.2
25.5
35.1
51.0
66.4
-0.3
-0.5
-1.4
-4.8
-7.0
3.1
4.3
16.9
72.8
48.3
261
749
3,647
61,447
404,643
14.8
17.5
20.6
19.0
18.8
24.6
25.7
27.7
32.6
35.6
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0509-4).
Number of AMT Taxpayers (millions). Baseline: 19.2
Proposal: 19.5
(1) Calendar year. Baseline is current law with no tax on long-term capital gains that would be eligible for the lower rates. Proposal is current law.
(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 2009 dollars): 20% $19,356, 40% $37,493, 60% $65,656, 80% $111,659, 90% $161,739, 95% $226,402, 99% $599,181, 99.9% $2,727,123.
(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.
14-Dec-09
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T09-0486
Distribution of Taxes on Long-Term Capital Gains by Cash Income Percentile, 2012
Baseline: Current Law 1
Detail Table
Percent of Tax Units 4
Cash Income Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Paying Negative
Tax on Gains
Paying Positive
Tax on Gains
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax on
Gains
Average Federal Tax on Gains
Dollars
Percent
Share of Federal Taxes
Excluding Tax
on Gains
On All Income
Average Federal Tax Rate6
On Gains
On All Income
0.0
0.0
0.0
0.0
0.0
0.0
0.5
2.3
5.0
10.6
24.5
7.1
0.0
0.0
-0.1
-0.1
-2.0
-1.1
0.0
0.2
0.6
2.2
97.0
100.0
1
4
20
82
4,182
638
0.2
0.1
0.2
0.4
5.6
3.7
0.9
4.5
11.1
18.8
64.6
100.0
0.8
4.4
10.8
18.2
65.7
100.0
1.1
0.5
3.3
6.8
14.1
13.3
5.2
12.2
18.1
21.5
28.2
23.4
0.0
0.0
0.0
0.0
0.0
17.2
25.5
35.1
51.0
66.4
-0.3
-0.5
-1.4
-4.8
-7.0
3.1
4.3
16.9
72.8
48.3
261
749
3,647
61,447
404,643
0.8
1.5
4.0
11.5
15.7
14.7
10.6
15.8
23.5
11.4
14.2
10.3
15.9
25.3
12.7
8.9
13.9
16.1
14.1
13.9
24.6
25.7
27.7
32.6
35.6
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
38,450
34,947
31,868
26,646
23,298
157,348
24.4
22.2
20.3
16.9
14.8
100.0
11,600
28,852
52,224
88,978
280,229
76,169
598
3,504
9,455
19,082
74,921
17,187
11,002
25,348
42,768
69,896
205,308
58,981
5.2
12.2
18.1
21.5
26.7
22.6
3.7
8.4
13.9
19.8
54.5
100.0
4.6
9.6
14.7
20.1
51.5
100.0
0.9
4.5
11.1
18.8
64.5
100.0
11,720
5,734
4,655
1,190
120
7.5
3.6
3.0
0.8
0.1
138,385
196,549
345,574
1,825,188
8,367,274
33,815
49,798
91,938
534,365
2,573,670
104,570
146,751
253,636
1,290,823
5,793,604
24.4
25.3
26.6
29.3
30.8
13.5
9.4
13.4
18.1
8.4
13.2
9.1
12.7
16.6
7.5
14.7
10.6
15.8
23.5
11.4
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0509-4).
Number of AMT Taxpayers (millions). Baseline: 19.2
Proposal: 19.5
(1) Calendar year. Baseline is current law with no tax on long-term capital gains that would be eligible for the lower rates. Proposal is current law.
(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 2009 dollars): 20% $19,356, 40%
$37,493, 60% $65,656, 80% $111,659, 90% $161,739, 95% $226,402, 99% $599,181, 99.9% $2,727,123.
(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.
14-Dec-09
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T09-0486
Distribution of Taxes on Long-Term Capital Gains by Cash Income Percentile, 2012
Baseline: Current Law 1
Detail Table
Percent of Tax Units 4
Cash Income Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Paying Negative
Tax on Gains
Paying Positive
Tax on Gains
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax on
Gains
Average Federal Tax on Gains
Dollars
Percent
Share of Federal Taxes
Excluding Tax
on Gains
On All Income
Average Federal Tax Rate6
On Gains
On All Income
0.0
0.0
0.0
0.0
0.0
0.0
0.2
1.6
3.7
8.7
22.6
7.1
0.0
0.0
0.0
-0.1
-1.9
-1.1
0.0
0.1
0.3
1.5
98.1
100.0
1
3
10
50
3,291
638
0.5
0.1
0.1
0.3
5.3
3.7
0.3
3.4
9.1
17.9
69.3
100.0
0.3
3.2
8.7
17.3
70.3
100.0
2.7
3.9
5.8
10.9
19.0
18.4
2.1
10.7
17.0
20.9
28.0
23.4
0.0
0.0
0.0
0.0
0.0
14.6
23.8
34.4
51.2
66.3
-0.2
-0.4
-1.3
-4.7
-6.9
2.6
3.7
16.0
75.8
49.8
174
491
2,707
52,993
350,963
0.6
1.2
3.5
11.5
15.6
15.8
11.9
17.1
24.5
11.8
15.3
11.6
17.1
26.3
13.2
15.8
16.8
20.2
19.0
18.8
24.3
25.8
27.5
32.4
35.3
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, 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
31,706
32,349
31,237
29,980
29,936
157,348
20.2
20.6
19.9
19.1
19.0
100.0
10,935
26,208
46,322
77,565
235,547
76,169
232
2,809
7,842
16,174
62,556
17,187
10,704
23,398
38,480
61,391
172,991
58,981
2.1
10.7
16.9
20.9
26.6
22.6
2.9
7.1
12.1
19.4
58.8
100.0
3.7
8.2
13.0
19.8
55.8
100.0
0.3
3.4
9.1
17.9
69.3
100.0
15,019
7,540
5,940
1,436
142
9.6
4.8
3.8
0.9
0.1
117,658
167,170
294,212
1,584,726
7,360,192
28,404
42,552
78,052
460,633
2,248,559
89,253
124,618
216,160
1,124,093
5,111,633
24.1
25.5
26.5
29.1
30.6
14.7
10.5
14.6
19.0
8.7
14.4
10.1
13.8
17.4
7.8
15.8
11.9
17.1
24.5
11.8
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0509-4).
Number of AMT Taxpayers (millions). Baseline: 19.2
Proposal: 19.5
(1) Calendar year. Baseline is current law with no tax on long-term capital gains that would be eligible for the lower rates. Proposal is current law.
(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 2009 dollars): 20% $13,219, 40% $24,782, 60% $41,864, 80% $68,188, 90% $97,830, 95% $138,709, 99% $361,983,
99.9% $1,670,467.
(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.
14-Dec-09
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T09-0486
Distribution of Taxes on Long-Term Capital Gains by Cash Income Percentile, 2012
1
Baseline: Current Law
Detail Table - Single Tax Units
2,3
Cash Income Percentile
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Percent of Tax Units 4
Paying
Paying Positive
Negative Tax
Tax on Gains
on Gains
Percent
Change in
After-Tax
Income5
Share of Total
Federal Tax on
Gains
Share of Federal Taxes
Average Federal Tax on Gains
Dollars
Percent
Excluding Tax
on Gains
On All Income
Average Federal Tax Rate6
On Gains
On All Income
0.0
0.0
0.0
0.0
0.0
0.0
0.3
1.8
3.6
7.6
20.9
5.4
0.0
0.0
0.0
-0.1
-1.7
-0.8
0.1
0.2
0.6
2.0
97.1
100.0
1
3
8
33
1,903
273
0.1
0.1
0.1
0.3
4.6
2.8
1.5
5.4
12.8
20.9
59.2
100.0
1.5
5.2
12.5
20.4
60.2
100.0
3.8
4.6
5.9
11.5
18.7
17.9
7.3
11.7
18.1
22.0
28.6
22.9
0.0
0.0
0.1
0.0
0.0
13.3
22.2
34.7
51.3
64.8
-0.2
-0.4
-1.3
-5.0
-7.2
3.5
4.6
19.2
69.9
42.3
129
363
2,011
36,401
251,060
0.6
1.2
3.7
11.0
14.4
15.9
11.1
14.5
17.7
8.2
15.5
11.0
14.7
19.1
9.1
17.3
15.4
18.6
19.1
18.7
25.3
26.9
27.7
34.5
38.1
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)
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
Number
(thousands)
Percent of Total
16,972
15,474
14,005
11,543
9,596
68,932
24.6
22.5
20.3
16.8
13.9
100.0
8,380
19,970
34,261
55,833
151,979
43,878
611
2,342
6,175
12,223
41,598
9,780
7,769
17,628
28,086
43,610
110,381
34,098
7.3
11.7
18.0
21.9
27.4
22.3
4.7
10.2
15.9
21.3
48.2
100.0
5.6
11.6
16.7
21.4
45.1
100.0
1.5
5.4
12.8
20.9
59.2
100.0
5,066
2,373
1,795
361
32
7.4
3.4
2.6
0.5
0.1
84,037
119,032
204,548
1,060,631
5,243,107
21,129
31,603
54,584
329,988
1,748,094
62,908
87,429
149,964
730,643
3,495,013
25.1
26.6
26.7
31.1
33.3
14.1
9.3
12.1
12.7
5.5
13.6
8.8
11.5
11.2
4.7
15.9
11.1
14.5
17.7
8.2
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0509-4).
(1) Calendar year. Baseline is current law with no tax on long-term capital gains that would be eligible for the lower rates. Proposal is current law.
(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 2009 dollars): 20% $13,219, 40% $24,782, 60% $41,864, 80% $68,188, 90% $97,830, 95% $138,709, 99% $361,983,
99.9% $1,670,467.
(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.
14-Dec-09
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T09-0486
Distribution of Taxes on Long-Term Capital Gains by Cash Income Percentile, 2012
1
Baseline: Current Law
Detail Table - Married Tax Units Filing Jointly
2,3
Cash Income Percentile
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Percent of Tax Units 4
Paying
Paying Positive
Negative Tax
Tax on Gains
on Gains
Percent
Change in
After-Tax
Income5
Share of Total
Federal Tax on
Gains
Share of Federal Taxes
Average Federal Tax on Gains
Dollars
Percent
Excluding Tax
on Gains
On All Income
Average Federal Tax Rate6
On Gains
On All Income
0.0
0.0
0.0
0.0
0.0
0.0
0.3
2.4
4.8
10.2
24.3
11.2
0.0
0.0
0.0
-0.1
-1.9
-1.3
0.0
0.1
0.2
1.3
98.3
100.0
3
6
15
67
4,000
1,234
0.7
0.2
0.2
0.4
5.4
4.2
0.2
1.8
5.9
15.9
76.1
100.0
0.2
1.7
5.7
15.3
77.0
100.0
3.3
3.9
5.3
10.6
19.1
18.6
3.0
10.6
15.7
20.2
27.8
24.4
0.0
0.0
0.0
0.0
0.0
16.1
25.2
34.7
51.3
67.0
-0.2
-0.4
-1.2
-4.6
-6.8
2.4
3.4
15.5
77.0
50.7
206
535
3,024
57,376
375,128
0.6
1.1
3.4
11.5
15.8
16.0
12.9
19.2
28.0
13.4
15.5
12.5
19.1
30.0
14.9
15.4
17.2
20.6
19.1
18.9
23.9
25.4
27.5
31.9
34.8
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)
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
Number
(thousands)
Percent of Total
6,622
8,956
11,470
15,032
18,609
61,357
10.8
14.6
18.7
24.5
30.3
100.0
14,526
33,405
59,671
95,023
281,842
126,020
425
3,544
9,377
19,170
74,238
29,569
14,101
29,861
50,294
75,852
207,604
96,450
2.9
10.6
15.7
20.2
26.3
23.5
1.2
3.9
8.9
18.5
67.8
100.0
1.6
4.5
9.8
19.3
65.3
100.0
0.2
1.8
5.9
15.9
76.1
100.0
8,860
4,843
3,890
1,015
102
14.4
7.9
6.3
1.7
0.2
138,312
192,091
337,723
1,748,464
7,890,377
32,819
48,276
89,685
500,367
2,367,874
105,493
143,815
248,037
1,248,097
5,522,503
23.7
25.1
26.6
28.6
30.0
15.9
12.0
17.0
23.0
10.5
15.8
11.8
16.3
21.4
9.6
16.0
12.9
19.2
28.0
13.4
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0509-4).
(1) Calendar year. Baseline is current law with no tax on long-term capital gains that would be eligible for the lower rates. Proposal is current law.
(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 2009 dollars): 20% $13,219, 40% $24,782, 60% $41,864, 80% $68,188, 90% $97,830, 95% $138,709, 99% $361,983,
99.9% $1,670,467.
(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.
14-Dec-09
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T09-0486
Distribution of Taxes on Long-Term Capital Gains by Cash Income Percentile, 2012
1
Baseline: Current Law
Detail Table - Head of Household Tax Units
2,3
Cash Income Percentile
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Percent of Tax Units 4
Paying
Paying Positive
Negative Tax
Tax on Gains
on Gains
Percent
Change in
After-Tax
Income5
Share of Total
Federal Tax on
Gains
Share of Federal Taxes
Average Federal Tax on Gains
Dollars
Percent
Excluding Tax
on Gains
On All Income
Average Federal Tax Rate6
On Gains
On All Income
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.4
1.8
5.8
12.9
1.8
0.0
0.0
0.0
-0.1
-1.5
-0.3
0.1
0.2
0.8
3.3
95.5
100.0
0
1
4
30
1,942
103
-0.1
0.0
0.0
0.2
4.3
1.6
-3.8
12.9
27.8
28.4
34.6
100.0
-3.7
12.7
27.4
28.0
35.6
100.0
0.0
7.7
8.7
10.4
18.7
17.7
-5.9
9.2
17.7
21.7
26.5
16.1
0.0
0.0
0.0
0.0
0.0
8.3
13.6
27.4
43.5
58.3
-0.2
-0.7
-1.3
-4.9
-7.2
4.6
7.0
18.5
65.5
40.0
144
764
2,703
50,016
346,680
0.5
2.0
4.0
12.2
16.5
13.7
5.5
7.2
8.3
3.8
13.5
5.5
7.3
9.2
4.3
14.5
17.1
20.0
18.9
18.7
24.7
25.4
25.2
32.4
35.3
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, 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)
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
Number
(thousands)
Percent of Total
7,840
7,497
5,095
2,777
1,242
24,547
31.9
30.5
20.8
11.3
5.1
100.0
13,490
30,617
50,275
76,881
178,521
41,760
-789
2,805
8,880
16,655
45,437
6,635
14,279
27,812
41,395
60,226
133,084
35,125
-5.9
9.2
17.7
21.7
25.5
15.9
10.3
22.4
25.0
20.8
21.6
100.0
13.0
24.2
24.5
19.4
19.2
100.0
-3.8
12.9
27.8
28.4
34.6
100.0
805
232
173
33
3
3.3
0.9
0.7
0.1
0.0
112,763
154,893
278,418
1,423,600
6,950,503
27,689
38,500
67,543
410,770
2,103,654
85,074
116,393
210,875
1,012,830
4,846,850
24.6
24.9
24.3
28.9
30.3
8.9
3.5
4.7
4.6
2.0
7.9
3.1
4.2
3.9
1.6
13.7
5.5
7.2
8.3
3.8
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0509-4).
(1) Calendar year. Baseline is current law with no tax on long-term capital gains that would be eligible for the lower rates. Proposal is current law.
(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 2009 dollars): 20% $13,219, 40% $24,782, 60% $41,864, 80% $68,188, 90% $97,830, 95% $138,709, 99% $361,983,
99.9% $1,670,467.
(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.
14-Dec-09
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T09-0486
Distribution of Taxes on Long-Term Capital Gains by Cash Income Percentile, 2012
Baseline: Current Law 1
Detail Table - Tax Units with Children
Percent of Tax Units 4
Cash Income Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Paying Negative
Tax on Gains
Paying Positive
Tax on Gains
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax on
Gains
Average Federal Tax on Gains
Dollars
Percent
Share of Federal Taxes
Excluding Tax
on Gains
On All Income
Average Federal Tax Rate6
On Gains
On All Income
0.0
0.0
0.0
0.0
0.0
0.0
0.2
0.7
3.6
7.8
21.8
6.2
0.0
0.0
0.0
-0.1
-1.7
-0.9
0.1
0.1
0.4
1.5
97.9
100.0
3
4
12
48
3,819
660
-0.3
0.1
0.1
0.2
4.5
3.0
-0.9
3.3
10.8
21.0
65.7
100.0
-0.9
3.2
10.5
20.4
66.6
100.0
8.1
7.5
6.3
10.1
18.9
18.3
-6.6
10.0
18.2
22.3
28.9
23.6
0.0
0.0
0.0
0.0
0.0
14.6
24.7
32.3
46.7
65.4
-0.2
-0.4
-1.1
-4.6
-7.0
2.8
3.8
15.3
76.0
52.8
209
621
3,160
65,924
474,939
0.5
1.1
2.8
10.3
15.6
16.2
10.9
16.3
22.3
10.2
15.8
10.7
16.2
23.9
11.5
15.6
17.8
20.2
18.8
18.8
25.2
26.5
28.6
33.9
35.8
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)
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
Number
(thousands)
Percent of Total
10,133
10,359
10,251
9,800
8,315
49,155
20.6
21.1
20.9
19.9
16.9
100.0
14,723
34,672
62,298
103,142
306,063
95,419
-970
3,460
11,339
22,974
84,746
21,837
15,693
31,213
50,959
80,167
221,316
73,583
-6.6
10.0
18.2
22.3
27.7
22.9
3.2
7.7
13.6
21.6
54.3
100.0
4.4
8.9
14.4
21.7
50.9
100.0
-0.9
3.3
10.8
21.0
65.7
100.0
4,398
1,976
1,567
374
36
9.0
4.0
3.2
0.8
0.1
157,496
224,546
400,356
2,088,455
9,839,694
39,511
58,950
111,436
641,069
3,045,084
117,985
165,595
288,920
1,447,386
6,794,610
25.1
26.3
27.8
30.7
31.0
14.8
9.5
13.4
16.7
7.6
14.4
9.1
12.5
15.0
6.8
16.2
10.9
16.3
22.3
10.2
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0509-4).
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 with no tax on long-term capital gains that would be eligible for the lower rates. Proposal is current law.
(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 2009 dollars): 20% $13,219, 40% $24,782, 60% $41,864, 80% $68,188, 90% $97,830, 95% $138,709, 99% $361,983,
99.9% $1,670,467.
(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.
14-Dec-09
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T09-0486
Distribution of Taxes on Long-Term Capital Gains by Cash Income Percentile, 2012
Baseline: Current Law 1
Detail Table - Elderly Tax Units
Percent of Tax Units 4
Cash Income Percentile2,3
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
Paying Negative
Tax on Gains
Paying Positive
Tax on Gains
Percent Change
in After-Tax
Income5
Share of Total
Federal Tax on
Gains
Average Federal Tax on Gains
Dollars
Percent
Share of Federal Taxes
Excluding Tax
on Gains
On All Income
Average Federal Tax Rate6
On Gains
On All Income
0.0
0.0
0.0
0.0
0.0
0.0
0.3
2.8
5.8
17.7
38.4
12.2
0.0
0.0
0.0
-0.2
-3.1
-1.8
0.0
0.1
0.2
1.8
97.9
100.0
0
4
13
114
5,957
1,120
0.1
0.4
0.5
1.3
9.5
8.0
0.3
1.9
3.9
11.4
82.4
100.0
0.3
1.8
3.7
10.7
83.5
100.0
0.0
4.5
6.4
14.0
19.4
19.1
2.6
4.4
6.9
12.8
26.8
20.0
0.0
0.0
0.2
0.0
0.0
29.4
38.6
46.9
61.2
73.6
-0.5
-0.8
-2.2
-5.7
-7.4
2.9
3.8
18.4
72.7
41.4
403
962
4,518
57,351
334,202
2.1
3.0
7.0
14.4
16.7
10.9
10.2
21.1
40.2
19.8
10.3
9.8
20.9
42.6
21.4
17.3
16.9
20.6
19.4
18.8
18.6
21.6
25.9
32.6
35.9
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)
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
Number
(thousands)
Percent of Total
5,016
8,213
5,981
5,495
5,617
30,543
16.4
26.9
19.6
18.0
18.4
100.0
10,899
22,528
41,094
70,238
257,048
75,737
282
986
2,821
8,874
62,923
14,043
10,617
21,542
38,273
61,364
194,125
61,694
2.6
4.4
6.9
12.6
24.5
18.5
2.4
8.0
10.6
16.7
62.4
100.0
2.8
9.4
12.2
17.9
57.9
100.0
0.3
1.9
3.9
11.4
82.4
100.0
2,427
1,362
1,394
434
42
8.0
4.5
4.6
1.4
0.1
105,444
153,103
267,882
1,396,961
6,520,091
19,229
32,174
64,848
397,785
2,003,026
86,215
120,928
203,033
999,176
4,517,065
18.2
21.0
24.2
28.5
30.7
11.1
9.0
16.1
26.2
12.0
11.1
8.7
15.0
23.0
10.2
10.9
10.2
21.1
40.2
19.8
Addendum
80-90
90-95
95-99
Top 1 Percent
Top 0.1 Percent
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0509-4).
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 with no tax on long-term capital gains that would be eligible for the lower rates. Proposal is current law.
(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 2009 dollars): 20% $13,219, 40% $24,782, 60% $41,864, 80% $68,188, 90% $97,830, 95% $138,709, 99% $361,983,
99.9% $1,670,467.
(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.