1-Oct-12
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 T12-0224
Fiscal Cliff Analysis
Step 7 of 9: Estate Tax
Distribution of Federal Tax Change by Cash Income Level, 2013 1
Summary Table
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Number
(thousands)
Percent of
Total
Percent
Change in
After-Tax
Income 4
16,041
24,243
19,317
17,482
13,879
25,633
14,610
20,204
4,780
728
433
158,260
10.1
15.3
12.2
11.1
8.8
16.2
9.2
12.8
3.0
0.5
0.3
100.0
0.0
0.0
-0.1
-0.2
-0.1
-0.2
-0.2
-0.3
-0.6
-0.7
-0.5
-0.3
Tax Units 3
Share of
Total
Federal Tax
Change
0.1
0.4
2.1
3.1
3.1
11.5
9.2
22.1
24.1
8.5
15.2
100.0
Average
Federal Tax
Change ($)
2
4
28
46
56
114
160
278
1,280
2,978
8,915
161
Average Federal Tax Rate5
Change (%
Points)
0.0
0.0
0.1
0.1
0.1
0.2
0.2
0.2
0.5
0.4
0.3
0.2
Under the
Proposal
5.4
3.5
7.8
12.1
14.5
17.4
19.6
22.4
26.9
33.6
39.5
22.3
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0412-7).
Number of AMT Taxpayers (millions). Baseline: 3.3
Proposal: 3.3
(1) Calendar year. Initial baseline is current policy with the following modifications: extension of 2 percent payroll tax cut; repeal of the health
care legislation taxes on earnings, and investment income; repeal of the 10 percent limitation on the deductibility of medical expenses; and
extension of certain business and other provisions. Baseline for this step is that modified form of current policy plus step 1 through 6 of the
fiscal cliff analysis. For a description of the fiscal cliff provisions, see:
http://www.taxpolicycenter.org/publications/url.cfm?ID=412666
For a description of TPC's current policy baseline, see:
http://www.taxpolicycenter.org/T11-0270
(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) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) 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.
(5) 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.
1-Oct-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T12-0224
Fiscal Cliff Analysis
Step 7 of 9: Estate Tax
Distribution of Federal Tax Change by Cash Income Level, 2013 1
Detail Table
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent
Change in
After-Tax
Income 4
Share of
Total
Federal Tax
Change
0.0
0.0
-0.1
-0.2
-0.1
-0.2
-0.2
-0.3
-0.6
-0.7
-0.5
-0.3
0.1
0.4
2.1
3.1
3.1
11.5
9.2
22.1
24.1
8.5
15.2
100.0
Average Federal Tax Change
Dollars
Share of Federal Taxes
Percent
Change (%
Points)
0.6
0.8
1.4
1.1
0.9
1.1
0.9
0.9
1.7
1.3
0.7
1.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.0
-0.1
0.0
2
4
28
46
56
114
160
278
1,280
2,978
8,915
161
Under the
Proposal
0.2
0.5
1.5
3.1
3.7
11.3
10.3
24.6
14.8
6.8
23.0
100.0
Average Federal Tax Rate5
Change (% Points)
Under the
Proposal
0.0
0.0
0.1
0.1
0.1
0.2
0.2
0.2
0.5
0.4
0.3
0.2
5.4
3.5
7.8
12.1
14.5
17.4
19.6
22.4
26.9
33.6
39.5
22.3
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2013 1
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Pre-Tax Income
Number
(thousands)
Percent of
Total
Average (dollars)
16,041
24,243
19,317
17,482
13,879
25,633
14,610
20,204
4,780
728
433
158,260
10.1
15.3
12.2
11.1
8.8
16.2
9.2
12.8
3.0
0.5
0.3
100.0
5,390
15,105
25,084
35,579
45,612
62,053
88,235
133,782
283,732
683,264
3,295,487
69,527
Federal Tax Burden
Percent of
Total
0.8
3.3
4.4
5.7
5.8
14.5
11.7
24.6
12.3
4.5
13.0
100.0
After-Tax Income 4
Average (dollars)
Percent of
Total
Average (dollars)
Percent of
Total
288
517
1,931
4,274
6,538
10,705
17,116
29,649
74,900
226,724
1,293,433
15,358
0.2
0.5
1.5
3.1
3.7
11.3
10.3
24.7
14.7
6.8
23.0
100.0
5,101
14,588
23,153
31,305
39,074
51,348
71,119
104,133
208,832
456,540
2,002,055
54,168
1.0
4.1
5.2
6.4
6.3
15.4
12.1
24.5
11.6
3.9
10.1
100.0
Average
Federal Tax
Rate 5
5.4
3.4
7.7
12.0
14.3
17.3
19.4
22.2
26.4
33.2
39.3
22.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0412-7).
Number of AMT Taxpayers (millions). Baseline: 3.3
Proposal: 3.3
(1) Calendar year. Initial baseline is current policy with the following modifications: extension of 2 percent payroll tax cut; repeal of the health care legislation taxes on earnings, and investment income; repeal of
the 10 percent limitation on the deductibility of medical expenses; and extension of certain business and other provisions. Baseline for this step is that modified form of current policy plus step 1 through 6 of the
fiscal cliff analysis. For a description of the fiscal cliff provisions, see:
http://www.taxpolicycenter.org/publications/url.cfm?ID=412666
For a description of TPC's current policy baseline, see:
http://www.taxpolicycenter.org/T11-0270
(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) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) 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.
(5) 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.
1-Oct-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T12-0224
Fiscal Cliff Analysis
Step 7 of 9: Estate Tax
Distribution of Federal Tax Change by Cash Income Level, 2013 1
Detail Table - Single Tax Units
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent
Change in
After-Tax
Income
4
Share of
Total
Federal Tax
Change
0.0
0.0
-0.2
-0.3
-0.3
-0.6
-1.1
-1.9
-4.5
-4.4
-2.3
-1.0
0.1
0.5
2.2
3.6
3.3
12.9
10.3
23.8
24.0
7.9
11.2
100.0
Average Federal Tax Change
Dollars
Share of Federal Taxes
Percent
Change (%
Points)
0.5
0.6
1.4
1.5
1.3
2.3
3.4
5.6
10.7
8.1
3.2
3.7
0.0
-0.1
-0.1
-0.2
-0.2
-0.3
0.0
0.3
0.6
0.2
-0.1
0.0
2
6
42
84
113
304
719
1,882
9,016
19,409
44,230
304
Under the
Proposal
0.9
2.8
5.5
8.5
9.0
20.5
11.0
16.1
8.9
3.7
12.9
100.0
Average Federal Tax Rate5
Change (%
Points)
Under the
Proposal
0.0
0.0
0.2
0.2
0.3
0.5
0.8
1.4
3.1
2.8
1.3
0.8
8.4
7.0
12.1
15.6
19.2
22.0
24.7
26.9
32.6
37.8
43.1
21.7
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2013 1
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Pre-Tax Income
Number
(thousands)
Percent of
Total
Average (dollars)
12,280
16,353
11,329
9,396
6,306
9,292
3,125
2,763
581
89
56
72,035
17.1
22.7
15.7
13.0
8.8
12.9
4.3
3.8
0.8
0.1
0.1
100.0
5,327
14,997
24,885
35,554
45,513
61,373
87,575
132,172
286,777
684,999
3,307,366
39,146
Federal Tax Burden
Percent of
Total
2.3
8.7
10.0
11.9
10.2
20.2
9.7
13.0
5.9
2.2
6.5
100.0
After-Tax Income 4
Average (dollars)
Percent of
Total
Average (dollars)
Percent of
Total
444
1,042
2,956
5,454
8,610
13,209
20,918
33,721
84,533
239,374
1,381,787
8,205
0.9
2.9
5.7
8.7
9.2
20.8
11.1
15.8
8.3
3.6
13.0
100.0
4,883
13,955
21,928
30,101
36,904
48,163
66,657
98,451
202,245
445,625
1,925,579
30,942
2.7
10.2
11.2
12.7
10.4
20.1
9.3
12.2
5.3
1.8
4.8
100.0
Average
Federal Tax
Rate 5
8.3
7.0
11.9
15.3
18.9
21.5
23.9
25.5
29.5
35.0
41.8
21.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0412-7).
(1) Calendar year. Initial baseline is current policy with the following modifications: extension of 2 percent payroll tax cut; repeal of the health care legislation taxes on earnings, and investment income; repeal
of the 10 percent limitation on the deductibility of medical expenses; and extension of certain business and other provisions. Baseline for this step is that modified form of current policy plus step 1 through 6 of
the fiscal cliff analysis. For a description of the fiscal cliff provisions, see:
http://www.taxpolicycenter.org/publications/url.cfm?ID=412666
For a description of TPC's current policy baseline, see:
http://www.taxpolicycenter.org/T11-0270
(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) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) 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.
(5) 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.
1-Oct-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T12-0224
Fiscal Cliff Analysis
Step 7 of 9: Estate Tax
Distribution of Federal Tax Change by Cash Income Level, 2013 1
Detail Table - Married Tax Units Filing Jointly
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent
Change in
After-Tax
Income
4
Share of
Total
Federal Tax
Change
-0.1
0.0
-0.1
0.0
0.0
0.0
0.0
0.0
-0.1
-0.2
-0.2
-0.1
0.1
0.1
1.8
0.3
1.6
2.4
2.3
11.5
24.6
13.1
40.7
100.0
Average Federal Tax Change
Dollars
Share of Federal Taxes
Percent
Change (%
Points)
0.9
0.5
2.3
0.1
0.3
0.1
0.1
0.1
0.3
0.3
0.3
0.2
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2
1
17
2
10
6
7
22
193
675
3,597
52
Under the
Proposal
0.0
0.0
0.2
0.6
1.1
6.3
9.6
28.6
17.8
8.3
27.3
100.0
Average Federal Tax Rate5
Change (%
Points)
Under the
Proposal
0.1
0.0
0.1
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.1
0.0
6.0
1.1
3.0
6.5
8.4
13.7
17.8
21.5
25.9
33.0
39.0
23.5
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2013 1
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Pre-Tax Income
Number
(thousands)
Percent of
Total
Average (dollars)
1,457
2,877
3,317
4,027
4,740
12,272
10,124
16,567
4,043
616
360
60,744
2.4
4.7
5.5
6.6
7.8
20.2
16.7
27.3
6.7
1.0
0.6
100.0
4,559
15,669
25,449
35,715
45,931
62,784
88,587
134,301
283,374
683,221
3,245,436
116,746
Federal Tax Burden
Percent of
Total
0.1
0.6
1.2
2.0
3.1
10.9
12.7
31.4
16.2
5.9
16.5
100.0
After-Tax Income 4
Average (dollars)
Percent of
Total
Average (dollars)
Percent of
Total
271
171
734
2,302
3,848
8,617
15,786
28,836
73,237
225,061
1,263,454
27,433
0.0
0.0
0.2
0.6
1.1
6.4
9.6
28.7
17.8
8.3
27.3
100.0
4,288
15,498
24,715
33,413
42,083
54,167
72,801
105,465
210,137
458,160
1,981,982
89,313
0.1
0.8
1.5
2.5
3.7
12.3
13.6
32.2
15.7
5.2
13.2
100.0
Average
Federal Tax
Rate 5
6.0
1.1
2.9
6.5
8.4
13.7
17.8
21.5
25.8
32.9
38.9
23.5
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0412-7).
(1) Calendar year. Initial baseline is current policy with the following modifications: extension of 2 percent payroll tax cut; repeal of the health care legislation taxes on earnings, and investment income; repeal
of the 10 percent limitation on the deductibility of medical expenses; and extension of certain business and other provisions. Baseline for this step is that modified form of current policy plus step 1 through 6 of
the fiscal cliff analysis. For a description of the fiscal cliff provisions, see:
http://www.taxpolicycenter.org/publications/url.cfm?ID=412666
For a description of TPC's current policy baseline, see:
http://www.taxpolicycenter.org/T11-0270
(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) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) 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.
(5) 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.
1-Oct-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T12-0224
Fiscal Cliff Analysis
Step 7 of 9: Estate Tax
Distribution of Federal Tax Change by Cash Income Level, 2013 1
Detail Table - Head of Household Tax Units
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent
Change in
After-Tax
Income
4
Share of
Total
Federal Tax
Change
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-0.1
-0.3
-0.4
-0.4
0.0
0.2
0.1
0.2
0.6
6.3
8.1
7.0
16.5
28.4
8.3
23.5
100.0
Average Federal Tax Change
Dollars
Share of Federal Taxes
Percent
Change (%
Points)
-0.1
0.0
0.2
0.0
0.1
0.1
0.1
0.2
0.9
0.8
0.6
0.2
0.0
0.0
0.0
0.0
0.0
-0.1
0.0
0.0
0.1
0.0
0.0
0.0
0
0
0
0
7
7
17
65
701
1,606
7,025
12
Under the
Proposal
-1.0
-4.4
0.2
8.8
12.4
30.9
16.5
17.8
7.2
2.6
9.1
100.0
Average Federal Tax Rate5
Change (%
Points)
Under the
Proposal
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.3
0.2
0.2
0.0
-9.5
-7.7
0.2
8.7
13.6
17.9
20.3
23.7
27.6
32.2
37.8
13.6
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2013 1
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Pre-Tax Income
Number
(thousands)
Percent of
Total
Average (dollars)
2,173
4,761
4,367
3,599
2,531
3,553
1,170
734
117
15
10
23,101
9.4
20.6
18.9
15.6
11.0
15.4
5.1
3.2
0.5
0.1
0.0
100.0
6,307
15,129
25,305
35,454
45,338
61,312
87,387
129,043
280,322
673,865
3,141,640
40,006
Federal Tax Burden
Percent of
Total
1.5
7.8
12.0
13.8
12.4
23.6
11.1
10.3
3.5
1.1
3.3
100.0
After-Tax Income 4
Average (dollars)
Percent of
Total
Average (dollars)
Percent of
Total
-601
-1,167
47
3,080
6,175
10,935
17,705
30,549
76,667
215,084
1,180,971
5,440
-1.0
-4.4
0.2
8.8
12.4
30.9
16.5
17.8
7.1
2.5
9.0
100.0
6,908
16,296
25,258
32,373
39,162
50,377
69,682
98,494
203,655
458,781
1,960,669
34,566
1.9
9.7
13.8
14.6
12.4
22.4
10.2
9.1
3.0
0.9
2.4
100.0
Average
Federal Tax
Rate 5
-9.5
-7.7
0.2
8.7
13.6
17.8
20.3
23.7
27.4
31.9
37.6
13.6
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0412-7).
(1) Calendar year. Initial baseline is current policy with the following modifications: extension of 2 percent payroll tax cut; repeal of the health care legislation taxes on earnings, and investment income; repeal
of the 10 percent limitation on the deductibility of medical expenses; and extension of certain business and other provisions. Baseline for this step is that modified form of current policy plus step 1 through 6 of
the fiscal cliff analysis. For a description of the fiscal cliff provisions, see:
http://www.taxpolicycenter.org/publications/url.cfm?ID=412666
For a description of TPC's current policy baseline, see:
http://www.taxpolicycenter.org/T11-0270
(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) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) 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.
(5) 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.
1-Oct-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T12-0224
Fiscal Cliff Analysis
Step 7 of 9: Estate Tax
Distribution of Federal Tax Change by Cash Income Level, 2013 1
Detail Table - Tax Units with Children
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent
Change in
After-Tax
Income 4
Share of
Total
Federal Tax
Change
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-0.1
-0.1
0.0
0.1
0.3
0.1
0.1
2.7
5.2
3.2
12.0
26.2
14.6
34.0
100.0
Average Federal Tax Change
Dollars
Share of Federal Taxes
Percent
Change (%
Points)
0.0
0.0
0.0
0.0
0.1
0.0
0.0
0.0
0.1
0.1
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
5
4
3
8
77
280
1,168
13
Under the
Proposal
-0.2
-1.0
-0.3
1.2
2.2
8.9
10.6
28.5
17.4
8.0
24.4
100.0
Average Federal Tax Rate5
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Under the
Proposal
-11.8
-10.3
-2.2
6.6
11.4
16.0
18.6
21.8
26.2
32.8
38.6
21.8
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2013 1
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Pre-Tax Income
Number
(thousands)
Percent of
Total
Average (dollars)
2,962
5,804
5,335
4,816
4,037
8,599
6,206
9,390
2,258
345
193
50,150
5.9
11.6
10.6
9.6
8.1
17.2
12.4
18.7
4.5
0.7
0.4
100.0
5,794
15,260
25,332
35,564
45,576
62,528
88,416
134,200
283,593
680,629
3,158,341
87,888
Federal Tax Burden
Percent of
Total
0.4
2.0
3.1
3.9
4.2
12.2
12.5
28.6
14.5
5.3
13.8
100.0
After-Tax Income 4
Average (dollars)
Percent of
Total
Average (dollars)
Percent of
Total
-682
-1,573
-547
2,363
5,190
9,995
16,464
29,244
74,247
223,077
1,216,438
19,177
-0.2
-1.0
-0.3
1.2
2.2
8.9
10.6
28.6
17.4
8.0
24.4
100.0
6,476
16,832
25,879
33,201
40,386
52,533
71,951
104,957
209,346
457,552
1,941,903
68,711
0.6
2.8
4.0
4.6
4.7
13.1
13.0
28.6
13.7
4.6
10.9
100.0
Average
Federal Tax
Rate 5
-11.8
-10.3
-2.2
6.6
11.4
16.0
18.6
21.8
26.2
32.8
38.5
21.8
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0412-7).
Note: Tax units with children are those claiming an exemption for children at home or away from home.
(1) Calendar year. Initial baseline is current policy with the following modifications: extension of 2 percent payroll tax cut; repeal of the health care legislation taxes on earnings, and investment income; repeal of
the 10 percent limitation on the deductibility of medical expenses; and extension of certain business and other provisions. Baseline for this step is that modified form of current policy plus step 1 through 6 of the
fiscal cliff analysis. For a description of the fiscal cliff provisions, see:
http://www.taxpolicycenter.org/publications/url.cfm?ID=412666
For a description of TPC's current policy baseline, see:
http://www.taxpolicycenter.org/T11-0270
(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) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) 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.
(5) 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.
1-Oct-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T12-0224
Fiscal Cliff Analysis
Step 7 of 9: Estate Tax
Distribution of Federal Tax Change by Cash Income Level, 2013 1
Detail Table - Elderly Tax Units
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent
Change in
After-Tax
Income 4
Share of
Total
Federal Tax
Change
-0.1
-0.1
-0.5
-0.6
-0.5
-0.8
-1.0
-1.3
-2.6
-2.7
-1.6
-1.2
0.1
0.3
2.3
3.5
3.4
11.5
9.9
23.4
23.9
8.2
13.1
100.0
Average Federal Tax Change
Dollars
Share of Federal Taxes
Percent
Change (%
Points)
10.6
7.9
17.5
13.2
8.6
7.7
6.6
5.9
7.7
5.3
2.4
5.6
0.0
0.0
0.1
0.1
0.1
0.2
0.1
0.1
0.4
0.0
-0.9
0.0
9
9
110
189
222
441
766
1,419
5,517
12,383
32,056
632
Under the
Proposal
0.0
0.2
0.8
1.6
2.3
8.5
8.4
22.1
17.7
8.6
29.7
100.0
Average Federal Tax Rate5
Change (% Points)
Under the
Proposal
0.1
0.1
0.4
0.5
0.5
0.7
0.9
1.1
1.9
1.8
1.0
1.0
1.5
0.8
3.0
4.6
6.1
10.0
14.1
19.1
27.1
35.8
41.7
18.2
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2013 1
Cash Income Level
(thousands of 2012
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Pre-Tax Income
Number
(thousands)
Percent of
Total
Average (dollars)
2,099
7,199
4,736
4,155
3,401
5,792
2,864
3,657
962
148
91
35,135
6.0
20.5
13.5
11.8
9.7
16.5
8.2
10.4
2.7
0.4
0.3
100.0
6,146
15,399
24,906
35,411
45,731
61,846
87,420
133,081
285,711
687,513
3,301,216
65,837
Federal Tax Burden
Percent of
Total
0.6
4.8
5.1
6.4
6.7
15.5
10.8
21.0
11.9
4.4
13.0
100.0
After-Tax Income 4
Average (dollars)
Percent of
Total
Average (dollars)
Percent of
Total
81
113
627
1,434
2,575
5,721
11,562
24,047
72,020
233,774
1,345,364
11,375
0.0
0.2
0.7
1.5
2.2
8.3
8.3
22.0
17.3
8.7
30.7
100.0
6,065
15,286
24,278
33,977
43,156
56,126
75,858
109,034
213,691
453,739
1,955,852
54,463
0.7
5.8
6.0
7.4
7.7
17.0
11.4
20.8
10.8
3.5
9.3
100.0
Average
Federal Tax
Rate 5
1.3
0.7
2.5
4.1
5.6
9.3
13.2
18.1
25.2
34.0
40.8
17.3
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0412-7).
Note: Elderly tax units are those with either head or spouse (if filing jointly) age 65 or older.
(1) Calendar year. Initial baseline is current policy with the following modifications: extension of 2 percent payroll tax cut; repeal of the health care legislation taxes on earnings, and investment income; repeal of
the 10 percent limitation on the deductibility of medical expenses; and extension of certain business and other provisions. Baseline for this step is that modified form of current policy plus step 1 through 6 of the
fiscal cliff analysis. For a description of the fiscal cliff provisions, see:
http://www.taxpolicycenter.org/publications/url.cfm?ID=412666
For a description of TPC's current policy baseline, see:
http://www.taxpolicycenter.org/T11-0270
(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) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) 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.
(5) 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.