Tax Policy Center Estimates Impact of McCain Tax Proposals
T08-0181; T08-0182; T08-0183; T08-0184; T08-0185; T08-0186; T08-0187; T08-0188; T08-0189; T08-0190
- Institutional AuthorsTax Policy Center
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2008-16322
- Tax Analysts Electronic Citation2008 TNT 144-37
19-Jul-08
PRELIMINARY RESULTS
Table T08-0181
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20091
Summary Table
Percent of Tax Units3 Percent Share of
Cash Income Change in Total
Level (thousands With Tax With Tax After-Tax Federal Tax
of 2008 dollars)2 Cut Increase Income4 Change
Less than 10 14.6 0.0 0.3 0.1
10-20 21.1 0.0 0.2 0.4
20-30 40.6 0.1 0.4 1.0
30-40 54.1 0.1 0.6 1.4
40-50 61.1 0.1 0.7 1.7
50-75 72.8 0.1 0.9 5.2
75-100 86.0 0.0 1.4 7.4
100-200 95.1 0.0 2.5 28.4
200-500 99.1 0.0 3.4 22.2
500-1,000 96.2 0.2 2.3 6.2
More than 1,000 99.2 0.0 4.1 25.7
All 56.2 0.1 2.1 100.0
[table continued]
Average Average Federal Tax Rate5
Cash Income Federal
Level (thousands Tax Change (% Under the
of 2008 dollars)2 Change ($) Points) Proposal
Less than 10 -13 -0.2 4.7
10-20 -29 -0.2 4.4
20-30 -94 -0.4 9.0
30-40 -178 -0.5 12.8
40-50 -262 -0.6 15.4
50-75 -446 -0.7 17.3
75-100 -975 -1.1 18.7
100-200 -2,662 -1.9 20.9
200-500 -7,293 -2.5 23.6
500-1,000 -11,621 -1.7 25.2
More than 1,000 -91,286 -2.9 27.5
All -1,230 -1.6 20.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0181
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20091
Detail Table
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 14.6 0.0 0.3 0.1 -13 -4.7
10-20 21.1 0.0 0.2 0.4 -29 -4.2
20-30 40.6 0.1 0.4 1.0 -94 -4.0
30-40 54.1 0.1 0.6 1.4 -178 -3.8
40-50 61.1 0.1 0.7 1.7 -262 -3.6
50-75 72.8 0.1 0.9 5.2 -446 -3.9
75-100 86.0 0.0 1.4 7.4 -975 -5.6
100-200 95.1 0.0 2.5 28.4 -2,662 -8.4
200-500 99.1 0.0 3.4 22.2 -7,293 -9.6
500-1,000 96.2 0.2 2.3 6.2 -11,621 -6.2
More than 1,000 99.2 0.0 4.1 25.7 -91,286 -9.4
All 56.2 0.1 2.1 100.0 -1,230 -7.5
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.2 -0.2 4.7
10-20 0.0 0.7 -0.2 4.4
20-30 0.1 2.0 -0.4 9.0
30-40 0.1 2.9 -0.5 12.8
40-50 0.2 3.7 -0.6 15.4
50-75 0.4 10.4 -0.7 17.3
75-100 0.2 10.3 -1.1 18.7
100-200 -0.3 25.0 -1.9 20.9
200-500 -0.4 17.1 -2.5 23.6
500-1,000 0.1 7.6 -1.7 25.2
More than 1,000 -0.4 20.1 -2.9 27.5
All 0.0 100.0 -1.6 20.1
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20091
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 17,204 11.5 5,704 283 5,421
10-20 24,101 16.0 15,181 702 14,479
20-30 19,493 13.0 25,314 2,368 22,947
30-40 14,384 9.6 35,555 4,744 30,811
40-50 11,749 7.8 45,838 7,317 38,521
50-75 21,662 14.4 63,039 11,364 51,674
75-100 14,107 9.4 88,790 17,553 71,236
100-200 19,712 13.1 138,154 31,521 106,633
200-500 5,636 3.8 291,886 76,093 215,793
500-1,000 989 0.7 695,069 186,664 508,405
More than 1,000 519 0.4 3,199,967 970,835 2,229,132
All 150,241 100.0 75,289 16,358 58,930
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 5.0 0.9 1.1 0.2
10-20 4.6 3.2 3.9 0.7
20-30 9.4 4.4 5.1 1.9
30-40 13.3 4.5 5.0 2.8
40-50 16.0 4.8 5.1 3.5
50-75 18.0 12.1 12.6 10.0
75-100 19.8 11.1 11.4 10.1
100-200 22.8 24.1 23.7 25.3
200-500 26.1 14.5 13.7 17.5
500-1,000 26.9 6.1 5.7 7.5
More than 1,000 30.3 14.7 13.1 20.5
All 21.7 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0181
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20091
Detail Table -- Single Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 14.3 0.0 0.2 0.4 -12 -2.8
10-20 23.2 0.0 0.2 1.4 -32 -2.6
20-30 33.6 0.0 0.4 2.3 -80 -2.2
30-40 35.5 0.0 0.4 2.0 -103 -1.6
40-50 41.7 0.0 0.3 1.9 -119 -1.3
50-75 55.0 0.0 0.5 5.7 -242 -1.8
75-100 65.2 0.0 0.8 4.9 -520 -2.5
100-200 82.4 0.0 1.6 13.9 -1,623 -4.9
200-500 95.2 0.0 4.1 19.0 -8,949 -11.4
500-1,000 95.5 0.0 5.9 11.0 -29,173 -14.8
More than 1,000 98.0 0.0 8.9 37.0 -185,582 -17.3
All 35.7 0.0 1.6 100.0 -530 -5.9
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 1.0 -0.2 7.3
10-20 0.1 3.3 -0.2 8.1
20-30 0.2 6.4 -0.3 14.1
30-40 0.3 7.6 -0.3 17.9
40-50 0.4 8.7 -0.3 19.4
50-75 0.8 19.7 -0.4 21.4
75-100 0.4 12.1 -0.6 23.2
100-200 0.2 16.9 -1.2 23.4
200-500 -0.6 9.2 -3.0 23.5
500-1,000 -0.4 4.0 -4.2 24.3
More than 1,000 -1.5 11.1 -5.9 28.2
All 0.0 100.0 -1.3 20.2
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20091
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 12,556 19.3 5,704 429 5,275
10-20 14,909 23.0 15,017 1,248 13,769
20-30 9,879 15.2 25,243 3,641 21,602
30-40 6,530 10.1 35,566 6,474 29,093
40-50 5,421 8.4 45,797 8,980 36,817
50-75 8,162 12.6 62,150 13,567 48,582
75-100 3,264 5.0 87,974 20,907 67,067
100-200 2,958 4.6 134,418 33,072 101,346
200-500 730 1.1 295,280 78,380 216,900
500-1,000 130 0.2 694,203 197,611 496,592
More than 1,000 69 0.1 3,156,727 1,074,908 2,081,819
All 64,958 100.0 42,053 9,009 33,043
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 7.5 2.6 3.1 0.9
10-20 8.3 8.2 9.6 3.2
20-30 14.4 9.1 9.9 6.2
30-40 18.2 8.5 8.9 7.2
40-50 19.6 9.1 9.3 8.3
50-75 21.8 18.6 18.5 18.9
75-100 23.8 10.5 10.2 11.7
100-200 24.6 14.6 14.0 16.7
200-500 26.5 7.9 7.4 9.8
500-1,000 28.5 3.3 3.0 4.4
More than 1,000 34.1 7.9 6.7 12.6
All 21.4 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0181
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20091
Detail Table -- Married Tax Units Filing Jointly
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 24.2 0.0 0.7 0.1 -31 -12.5
10-20 24.4 0.0 0.3 0.1 -42 -9.3
20-30 42.6 0.0 0.4 0.3 -86 -6.9
30-40 62.2 0.2 0.6 0.5 -183 -6.4
40-50 70.2 0.1 0.7 0.8 -286 -5.5
50-75 80.3 0.2 0.8 3.3 -453 -4.8
75-100 91.7 0.0 1.4 7.1 -1,031 -6.4
100-200 97.3 0.0 2.7 33.5 -2,859 -9.2
200-500 99.8 0.0 3.3 24.8 -7,083 -9.4
500-1,000 96.7 0.0 1.8 5.5 -8,918 -4.8
More than 1,000 99.4 0.0 3.4 23.8 -74,617 -8.0
All 77.9 0.1 2.3 100.0 -2,267 -8.0
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.0 -0.6 4.4
10-20 0.0 0.1 -0.3 2.6
20-30 0.0 0.4 -0.3 4.6
30-40 0.0 0.7 -0.5 7.6
40-50 0.0 1.2 -0.6 10.7
50-75 0.2 5.6 -0.7 14.1
75-100 0.2 9.1 -1.2 16.9
100-200 -0.4 28.8 -2.1 20.3
200-500 -0.3 20.9 -2.4 23.6
500-1,000 0.3 9.4 -1.3 25.3
More than 1,000 0.0 23.8 -2.4 27.4
All 0.0 100.0 -1.8 20.9
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20091
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,093 3.5 4,904 249 4,655
10-20 3,937 6.6 15,709 451 15,258
20-30 4,757 8.0 25,357 1,245 24,112
30-40 3,946 6.6 35,641 2,874 32,767
40-50 3,659 6.2 45,966 5,207 40,759
50-75 9,688 16.3 64,204 9,479 54,725
75-100 9,341 15.7 89,292 16,147 73,145
100-200 15,817 26.6 139,272 31,189 108,083
200-500 4,725 7.9 291,151 75,739 215,412
500-1,000 827 1.4 695,396 184,872 510,524
More than 1,000 430 0.7 3,148,057 936,517 2,211,540
All 59,479 100.0 125,155 28,407 96,748
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 5.1 0.1 0.2 0.0
10-20 2.9 0.8 1.0 0.1
20-30 4.9 1.6 2.0 0.4
30-40 8.1 1.9 2.3 0.7
40-50 11.3 2.3 2.6 1.1
50-75 14.8 8.4 9.2 5.4
75-100 18.1 11.2 11.9 8.9
100-200 22.4 29.6 29.7 29.2
200-500 26.0 18.5 17.7 21.2
500-1,000 26.6 7.7 7.3 9.1
More than 1,000 29.8 18.2 16.5 23.8
All 22.7 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0181
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20091
Detail Table -- Head of Household Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 8.2 0.0 0.1 0.1 -4 0.8
10-20 11.8 0.0 0.1 0.5 -12 1.4
20-30 54.1 0.3 0.6 5.3 -136 -22.5
30-40 79.6 0.3 1.0 9.6 -312 -9.1
40-50 90.2 0.2 1.3 10.3 -517 -8.0
50-75 91.9 0.0 1.6 23.4 -826 -7.5
75-100 95.9 0.0 2.4 17.6 -1,627 -8.8
100-200 97.9 0.0 2.6 17.1 -2,524 -8.0
200-500 98.8 0.0 2.6 6.5 -5,692 -7.6
500-1,000 88.4 0.0 1.8 1.6 -9,022 -4.9
More than 1,000 98.9 0.0 4.0 8.1 -85,327 -9.2
All 57.2 0.1 1.4 100.0 -499 -8.7
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 -0.1 -0.9 -0.1 -7.3
10-20 -0.3 -3.4 -0.1 -5.5
20-30 -0.3 1.7 -0.5 1.8
30-40 0.0 9.1 -0.9 8.8
40-50 0.1 11.4 -1.1 13.0
50-75 0.4 27.7 -1.3 16.5
75-100 0.0 17.5 -1.9 19.4
100-200 0.1 18.7 -1.9 22.2
200-500 0.1 7.5 -1.9 23.1
500-1,000 0.1 3.0 -1.3 25.4
More than 1,000 0.0 7.7 -2.8 27.6
All 0.0 100.0 -1.2 12.9
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20091
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,406 10.3 6,412 -464 6,876
10-20 4,961 21.3 15,257 -830 16,087
20-30 4,512 19.4 25,403 605 24,799
30-40 3,554 15.3 35,401 3,438 31,963
40-50 2,315 9.9 45,811 6,485 39,326
50-75 3,290 14.1 61,934 11,052 50,882
75-100 1,254 5.4 87,576 18,587 68,989
100-200 786 3.4 130,519 31,457 99,062
200-500 132 0.6 298,070 74,573 223,497
500-1,000 21 0.1 683,864 182,579 501,285
More than 1,000 11 0.1 3,070,023 932,865 2,137,158
All 23,292 100.0 40,351 5,718 34,633
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 -7.2 1.6 2.1 -0.8
10-20 -5.4 8.1 9.9 -3.1
20-30 2.4 12.2 13.9 2.1
30-40 9.7 13.4 14.1 9.2
40-50 14.2 11.3 11.3 11.3
50-75 17.9 21.7 20.8 27.3
75-100 21.2 11.7 10.7 17.5
100-200 24.1 10.9 9.7 18.6
200-500 25.0 4.2 3.7 7.4
500-1,000 26.7 1.5 1.3 2.8
More than 1,000 30.4 3.6 2.9 7.7
All 14.2 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0181
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20091
Detail Table -- Tax Units with Children
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 6.0 0.0 0.1 0.0 -6 0.9
10-20 11.1 0.0 0.1 0.1 -13 0.9
20-30 49.1 0.2 0.5 0.7 -117 120.9
30-40 81.4 0.3 0.9 1.6 -307 -10.9
40-50 92.0 0.2 1.3 2.2 -509 -8.7
50-75 96.8 0.3 1.5 6.8 -819 -8.1
75-100 99.1 0.0 2.1 10.2 -1,546 -9.2
100-200 99.8 0.0 3.5 38.2 -3,728 -11.7
200-500 99.8 0.0 3.3 21.1 -6,956 -9.1
500-1,000 95.8 0.1 1.3 3.3 -6,516 -3.4
More than 1,000 99.8 0.0 3.0 15.7 -65,712 -6.8
All 75.4 0.1 2.5 100.0 -1,847 -9.0
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 -0.2 -0.1 -11.5
10-20 -0.1 -0.9 -0.1 -9.2
20-30 -0.1 -0.1 -0.5 -0.8
30-40 0.0 1.3 -0.9 7.1
40-50 0.0 2.2 -1.1 11.6
50-75 0.1 7.7 -1.3 14.8
75-100 0.0 10.0 -1.7 17.2
100-200 -0.9 28.5 -2.7 20.2
200-500 0.0 21.0 -2.4 24.2
500-1,000 0.5 9.1 -0.9 26.5
More than 1,000 0.5 21.4 -2.1 28.4
All 0.0 100.0 -1.9 19.6
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20091
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,701 5.6 5,981 -682 6,663
10-20 5,494 11.4 15,478 -1,408 16,886
20-30 5,603 11.7 25,399 -97 25,495
30-40 4,726 9.8 35,550 2,818 32,732
40-50 3,756 7.8 45,850 5,815 40,036
50-75 7,394 15.4 63,220 10,145 53,076
75-100 5,839 12.1 89,123 16,866 72,257
100-200 9,103 18.9 139,015 31,823 107,192
200-500 2,690 5.6 288,713 76,858 211,855
500-1,000 442 0.9 693,043 190,429 502,614
More than 1,000 212 0.4 3,179,388 970,051 2,209,337
All 48,094 100.0 95,281 20,498 74,782
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 -11.4 0.4 0.5 -0.2
10-20 -9.1 1.9 2.6 -0.8
20-30 -0.4 3.1 4.0 -0.1
30-40 7.9 3.7 4.3 1.4
40-50 12.7 3.8 4.2 2.2
50-75 16.1 10.2 10.9 7.6
75-100 18.9 11.4 11.7 10.0
100-200 22.9 27.6 27.1 29.4
200-500 26.6 17.0 15.8 21.0
500-1,000 27.5 6.7 6.2 8.6
More than 1,000 30.5 14.7 13.0 20.9
All 21.5 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
Note: Tax units with children are those claiming an exemption for children at
home or away from home.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0181
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20091
Detail Table -- Elderly Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 28.2 0.0 0.4 0.2 -28 -16.0
10-20 36.1 0.0 0.4 0.7 -52 -12.9
20-30 61.4 0.0 0.7 1.2 -154 -12.1
30-40 71.9 0.0 0.7 1.0 -240 -11.3
40-50 77.2 0.0 0.8 1.1 -319 -9.0
50-75 84.5 0.0 0.9 3.9 -498 -6.8
75-100 91.6 0.0 1.4 5.0 -1,018 -7.9
100-200 96.6 0.0 2.4 16.7 -2,718 -10.4
200-500 99.2 0.0 4.7 22.2 -10,658 -14.9
500-1,000 99.1 0.1 5.2 11.1 -26,155 -13.9
More than 1,000 99.6 0.0 7.0 36.8 -151,560 -15.6
All 65.8 0.0 3.0 100.0 -1,812 -12.8
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.1 -0.4 2.3
10-20 0.0 0.7 -0.3 2.3
20-30 0.0 1.3 -0.6 4.5
30-40 0.0 1.1 -0.7 5.4
40-50 0.1 1.6 -0.7 7.1
50-75 0.5 7.9 -0.8 10.8
75-100 0.5 8.5 -1.2 13.5
100-200 0.5 20.9 -2.0 16.9
200-500 -0.5 18.6 -3.6 20.4
500-1,000 -0.1 10.1 -3.8 23.3
More than 1,000 -1.0 29.2 -4.8 26.3
All 0.0 100.0 -2.4 16.4
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20091
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,765 9.7 6,577 177 6,400
10-20 6,689 23.4 15,129 399 14,730
20-30 4,053 14.2 24,891 1,275 23,616
30-40 2,142 7.5 35,242 2,124 33,118
40-50 1,714 6.0 46,021 3,564 42,457
50-75 4,095 14.3 63,445 7,324 56,122
75-100 2,542 8.9 88,251 12,934 75,317
100-200 3,191 11.1 137,801 26,024 111,776
200-500 1,082 3.8 298,445 71,553 226,893
500-1,000 221 0.8 696,175 188,080 508,095
More than 1,000 126 0.4 3,134,426 974,466 2,159,960
All 28,639 100.0 75,721 14,211 61,511
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 2.7 0.8 1.0 0.1
10-20 2.6 4.7 5.6 0.7
20-30 5.1 4.7 5.4 1.3
30-40 6.0 3.5 4.0 1.1
40-50 7.7 3.6 4.1 1.5
50-75 11.5 12.0 13.1 7.4
75-100 14.7 10.3 10.9 8.1
100-200 18.9 20.3 20.3 20.4
200-500 24.0 14.9 13.9 19.0
500-1,000 27.0 7.1 6.4 10.2
More than 1,000 31.1 18.2 15.5 30.2
All 18.8 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
Note: Elderly tax units are those with either head or spouse (if filing
jointly) age 65 or older.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0182
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile, 20091
Summary Table
Percent of Tax Units4 Percent Share of
Change in Total
Cash Income With Tax With Tax After-Tax Federal
Percentile2,3 Cut Increase Income5 Tax Change
Lowest Quintile 17.6 0.0 0.2 0.5
Second Quintile 44.3 0.1 0.5 2.1
Middle Quintile 65.8 0.1 0.8 5.3
Fourth Quintile 84.6 0.0 1.4 13.5
Top Quintile 97.0 0.0 3.2 78.4
All 56.2 0.1 2.1 100.0
Addendum
80-90 95.5 0.0 2.5 15.8
90-95 98.6 0.0 3.1 13.1
95-99 98.7 0.1 3.3 19.7
Top 1 Percent 98.0 0.1 3.7 29.9
Top 0.1 Percent 99.6 0.0 4.7 18.0
[table continued]
Average Average Federal Tax Rate6
Federal
Cash Income Tax Change (% Under the
Percentile2,3 Change ($) Points) Proposal
Lowest Quintile -21 -0.2 4.4
Second Quintile -118 -0.4 10.2
Middle Quintile -325 -0.6 16.2
Fourth Quintile -994 -1.1 18.7
Top Quintile -6,498 -2.3 23.9
All -1,230 -1.6 20.1
Addendum
80-90 -2,584 -1.9 20.8
90-95 -4,437 -2.3 22.1
95-99 -8,159 -2.4 24.0
Top 1 Percent -48,862 -2.6 27.0
Top 0.1 Percent -290,708 -3.3 28.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The breaks are (in 2008 dollars): 20%
$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.
END OF FOOTNOTES TO TABLE
Table T08-0182
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile, 20091
Detail Table
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 17.6 0.0 0.2 0.5 -21 -4.3
Second Quintile 44.3 0.1 0.5 2.1 -118 -3.9
Middle Quintile 65.8 0.1 0.8 5.3 -325 -3.7
Fourth Quintile 84.6 0.0 1.4 13.5 -994 -5.7
Top Quintile 97.0 0.0 3.2 78.4 -6,498 -8.9
All 56.2 0.1 2.1 100.0 -1,230 -7.5
Addendum
80-90 95.5 0.0 2.5 15.8 -2,584 -8.4
90-95 98.6 0.0 3.1 13.1 -4,437 -9.5
95-99 98.7 0.1 3.3 19.7 -8,159 -9.1
Top 1 Percent 98.0 0.1 3.7 29.9 -48,862 -8.8
Top 0.1 Percent 99.6 0.0 4.7 18.0 -290,708 -10.4
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.8 -0.2 4.4
Second Quintile 0.2 4.2 -0.4 10.2
Middle Quintile 0.4 11.2 -0.6 16.2
Fourth Quintile 0.4 18.2 -1.1 18.7
Top Quintile -1.0 65.5 -2.3 23.9
All 0.0 100.0 -1.6 20.1
Addendum
80-90 -0.1 13.9 -1.9 20.8
90-95 -0.2 10.2 -2.3 22.1
95-99 -0.3 16.1 -2.4 24.0
Top 1 Percent -0.3 25.4 -2.6 27.0
Top 0.1 Percent -0.4 12.6 -3.3 28.1
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 39,102 26.0 10,744 489 10,256
Second Quintile 32,942 21.9 28,057 2,990 25,066
Middle Quintile 30,075 20.0 51,924 8,758 43,166
Fourth Quintile 25,152 16.7 87,992 17,474 70,518
Top Quintile 22,287 14.8 279,244 73,327 205,917
All 150,241 100.0 75,289 16,358 58,930
Addendum
80-90 11,264 7.5 135,143 30,710 104,433
90-95 5,439 3.6 192,266 46,956 145,310
95-99 4,454 3.0 340,985 90,123 250,862
Top 1 Percent 1,131 0.8 1,889,937 558,571 1,331,366
Top 0.1 Percent 114 0.1 8,929,410 2,798,346 6,131,064
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 4.6 3.7 4.5 0.8
Second Quintile 10.7 8.2 9.3 4.0
Middle Quintile 16.9 13.8 14.7 10.7
Fourth Quintile 19.9 19.6 20.0 17.9
Top Quintile 26.3 55.0 51.8 66.5
All 21.7 100.0 100.0 100.0
Addendum
80-90 22.7 13.5 13.3 14.1
90-95 24.4 9.3 8.9 10.4
95-99 26.4 13.4 12.6 16.3
Top 1 Percent 29.6 18.9 17.0 25.7
Top 0.1 Percent 31.3 9.0 7.9 13.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The breaks are (in 2008 dollars): 20%
$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.
END OF FOOTNOTES TO TABLE
Table T08-0182
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20091
Detail Table
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 15.0 0.0 0.2 0.3 -16 -17.0
Second Quintile 48.6 0.2 0.7 2.5 -151 -7.0
Middle Quintile 61.1 0.1 1.0 6.3 -396 -5.5
Fourth Quintile 73.8 0.0 1.6 14.8 -958 -6.4
Top Quintile 89.3 0.0 2.8 75.9 -4,925 -8.0
All 56.2 0.1 2.1 100.0 -1,230 -7.5
Addendum
80-90 84.3 0.0 2.0 13.6 -1,761 -6.7
90-95 91.7 0.0 2.3 11.2 -2,883 -7.3
95-99 97.0 0.0 2.9 18.9 -6,230 -8.2
Top 1 Percent 97.1 0.2 3.8 32.1 -43,581 -9.0
Top 0.1 Percent 99.3 0.0 4.9 19.2 -262,218 -10.7
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.1 -0.2 0.8
Second Quintile 0.0 2.8 -0.6 8.0
Middle Quintile 0.2 8.8 -0.9 14.9
Fourth Quintile 0.2 17.6 -1.3 18.3
Top Quintile -0.4 70.6 -2.1 23.9
All 0.0 100.0 -1.6 20.1
Addendum
80-90 0.1 15.4 -1.5 21.2
90-95 0.0 11.6 -1.8 22.4
95-99 -0.1 17.2 -2.1 23.9
Top 1 Percent -0.4 26.3 -2.7 26.8
Top 0.1 Percent -0.5 13.1 -3.3 28.0
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 32,429 21.6 10,059 95 9,963
Second Quintile 30,972 20.6 25,261 2,171 23,091
Middle Quintile 29,186 19.4 46,073 7,275 38,798
Fourth Quintile 28,494 19.0 76,773 14,997 61,776
Top Quintile 28,475 19.0 235,357 61,276 174,081
All 150,241 100.0 75,289 16,358 58,930
Addendum
80-90 14,316 9.5 115,555 26,273 89,281
90-95 7,191 4.8 163,422 39,524 123,898
95-99 5,606 3.7 292,160 76,083 216,078
Top 1 Percent 1,362 0.9 1,640,591 483,081 1,157,511
Top 0.1 Percent 135 0.1 7,862,950 2,460,688 5,402,262
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 1.0 2.9 3.7 0.1
Second Quintile 8.6 6.9 8.1 2.7
Middle Quintile 15.8 11.9 12.8 8.6
Fourth Quintile 19.5 19.3 19.9 17.4
Top Quintile 26.0 59.3 56.0 71.0
All 21.7 100.0 100.0 100.0
Addendum
80-90 22.7 14.6 14.4 15.3
90-95 24.2 10.4 10.1 11.6
95-99 26.0 14.5 13.7 17.4
Top 1 Percent 29.5 19.8 17.8 26.8
Top 0.1 Percent 31.3 9.4 8.2 13.5
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $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.
END OF FOOTNOTES TO TABLE
Table T08-0182
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20091
Detail Table -- Single Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 14.8 0.0 0.2 0.7 -14 -2.9
Second Quintile 30.9 0.0 0.4 2.5 -59 -2.8
Middle Quintile 34.8 0.0 0.4 3.7 -100 -1.7
Fourth Quintile 48.9 0.0 0.4 5.7 -185 -1.6
Top Quintile 72.6 0.0 3.1 87.0 -3,435 -8.6
All 35.7 0.0 1.6 100.0 -530 -5.9
Addendum
80-90 62.4 0.0 0.7 5.9 -439 -2.3
90-95 76.9 0.0 1.2 6.5 -1,019 -3.6
95-99 91.6 0.0 3.0 20.7 -4,500 -8.8
Top 1 Percent 94.7 0.0 7.4 53.9 -54,994 -16.0
Top 0.1 Percent 98.4 0.0 9.3 29.3 -338,391 -17.6
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.1 1.6 -0.2 6.3
Second Quintile 0.2 5.4 -0.3 10.6
Middle Quintile 0.6 13.4 -0.3 17.5
Fourth Quintile 0.9 21.6 -0.3 20.6
Top Quintile -1.7 57.9 -2.3 24.2
All 0.0 100.0 -1.3 20.2
Addendum
80-90 0.6 15.9 -0.5 23.1
90-95 0.3 10.9 -0.9 23.6
95-99 -0.4 13.5 -2.2 23.2
Top 1 Percent -2.1 17.7 -5.1 26.5
Top 0.1 Percent -1.2 8.6 -6.1 28.6
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 17,979 27.7 7,650 495 7,155
Second Quintile 14,788 22.8 19,082 2,075 17,008
Middle Quintile 12,570 19.4 33,514 5,963 27,551
Fourth Quintile 10,552 16.2 54,870 11,459 43,411
Top Quintile 8,719 13.4 151,432 40,037 111,395
All 64,958 100.0 42,053 9,009 33,043
Addendum
80-90 4,605 7.1 82,197 19,411 62,786
90-95 2,193 3.4 116,199 28,446 87,752
95-99 1,584 2.4 201,882 51,326 150,556
Top 1 Percent 338 0.5 1,087,643 343,598 744,045
Top 0.1 Percent 30 0.1 5,550,592 1,927,502 3,623,090
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 6.5 5.0 6.0 1.5
Second Quintile 10.9 10.3 11.7 5.2
Middle Quintile 17.8 15.4 16.1 12.8
Fourth Quintile 20.9 21.2 21.3 20.7
Top Quintile 26.4 48.3 45.3 59.7
All 21.4 100.0 100.0 100.0
Addendum
80-90 23.6 13.9 13.5 15.3
90-95 24.5 9.3 9.0 10.7
95-99 25.4 11.7 11.1 13.9
Top 1 Percent 31.6 13.5 11.7 19.8
Top 0.1 Percent 34.7 6.1 5.0 9.8
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $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.
END OF FOOTNOTES TO TABLE
Table T08-0182
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20091
Detail Table -- Married Tax Units Filing Jointly
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 22.1 0.0 0.3 0.2 -34 -34.6
Second Quintile 62.0 0.2 0.7 1.4 -212 -8.1
Middle Quintile 78.8 0.2 1.2 5.1 -625 -7.3
Fourth Quintile 88.4 0.0 2.0 16.2 -1,477 -8.4
Top Quintile 96.9 0.0 2.8 76.9 -5,710 -7.9
All 77.9 0.1 2.3 100.0 -2,267 -8.0
Addendum
80-90 95.0 0.0 2.4 16.0 -2,476 -8.2
90-95 98.3 0.0 2.7 13.2 -3,774 -8.4
95-99 99.2 0.0 2.9 19.7 -7,028 -8.1
Top 1 Percent 98.5 0.0 3.0 28.1 -39,179 -7.5
Top 0.1 Percent 99.6 0.0 4.1 17.2 -237,991 -9.2
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.0 -0.3 0.5
Second Quintile 0.0 1.3 -0.7 7.4
Middle Quintile 0.0 5.6 -1.1 13.3
Fourth Quintile -0.1 15.3 -1.6 17.2
Top Quintile 0.1 77.6 -2.1 23.9
All 0.0 100.0 -1.8 20.9
Addendum
80-90 0.0 15.5 -1.8 20.5
90-95 -0.1 12.5 -2.0 22.0
95-99 0.0 19.5 -2.1 24.1
Top 1 Percent 0.2 30.2 -2.2 26.8
Top 0.1 Percent -0.2 14.7 -2.8 27.8
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 6,621 11.1 13,343 98 13,245
Second Quintile 8,578 14.4 32,397 2,613 29,785
Middle Quintile 11,027 18.5 59,438 8,556 50,882
Fourth Quintile 14,829 24.9 93,284 17,517 75,767
Top Quintile 18,163 30.5 278,505 72,149 206,356
All 59,479 100.0 125,155 28,407 96,748
Addendum
80-90 8,717 14.7 134,567 30,085 104,482
90-95 4,700 7.9 186,829 44,951 141,877
95-99 3,780 6.4 332,302 87,124 245,177
Top 1 Percent 965 1.6 1,813,978 525,774 1,288,205
Top 0.1 Percent 97 0.2 8,464,842 2,593,798 5,871,044
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 0.7 1.2 1.5 0.0
Second Quintile 8.1 3.7 4.4 1.3
Middle Quintile 14.4 8.8 9.8 5.6
Fourth Quintile 18.8 18.6 19.5 15.4
Top Quintile 25.9 68.0 65.1 77.6
All 22.7 100.0 100.0 100.0
Addendum
80-90 22.4 15.8 15.8 15.5
90-95 24.1 11.8 11.6 12.5
95-99 26.2 16.9 16.1 19.5
Top 1 Percent 29.0 23.5 21.6 30.0
Top 0.1 Percent 30.6 11.1 9.9 14.9
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $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.
END OF FOOTNOTES TO TABLE
Table T08-0182
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20091
Detail Table -- Head of Household Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 9.0 0.0 0.0 0.4 -6 0.6
Second Quintile 69.1 0.4 1.0 16.4 -264 -15.0
Middle Quintile 89.7 0.0 1.5 26.5 -631 -8.2
Fourth Quintile 90.1 0.0 1.9 24.9 -1,166 -7.6
Top Quintile 91.8 0.0 2.5 31.8 -3,277 -7.2
All 57.2 0.1 1.4 100.0 -499 -8.7
Addendum
80-90 90.2 0.0 2.1 10.9 -1,728 -6.7
90-95 93.3 0.0 2.2 4.5 -2,520 -6.9
95-99 97.1 0.0 2.4 6.9 -5,039 -7.3
Top 1 Percent 92.0 0.0 3.3 9.6 -35,645 -8.1
Top 0.1 Percent 99.4 0.0 4.4 5.6 -236,556 -9.8
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -0.5 -5.6 0.0 -6.9
Second Quintile -0.7 8.9 -0.9 5.1
Middle Quintile 0.2 28.4 -1.3 14.4
Fourth Quintile 0.4 29.1 -1.5 18.9
Top Quintile 0.6 39.2 -1.8 23.5
All 0.0 100.0 -1.2 12.9
Addendum
80-90 0.3 14.5 -1.6 22.0
90-95 0.1 5.9 -1.7 22.9
95-99 0.1 8.3 -1.8 23.2
Top 1 Percent 0.1 10.4 -2.4 26.9
Top 0.1 Percent -0.1 4.9 -3.0 28.0
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 7,558 32.5 12,952 -893 13,845
Second Quintile 7,198 30.9 29,592 1,762 27,830
Middle Quintile 4,877 20.9 49,284 7,705 41,578
Fourth Quintile 2,482 10.7 75,584 15,417 60,168
Top Quintile 1,128 4.8 179,427 45,460 133,967
All 23,292 100.0 40,351 5,718 34,633
Addendum
80-90 730 3.1 109,967 25,875 84,092
90-95 209 0.9 149,881 36,808 113,073
95-99 158 0.7 276,495 69,198 207,296
Top 1 Percent 31 0.1 1,510,258 441,228 1,069,030
Top 0.1 Percent 3 0.0 7,770,538 2,410,896 5,359,641
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile -6.9 10.4 13.0 -5.1
Second Quintile 6.0 22.7 24.8 9.5
Middle Quintile 15.6 25.6 25.1 28.2
Fourth Quintile 20.4 20.0 18.5 28.7
Top Quintile 25.3 21.5 18.7 38.5
All 14.2 100.0 100.0 100.0
Addendum
80-90 23.5 8.6 7.6 14.2
90-95 24.6 3.3 2.9 5.8
95-99 25.0 4.7 4.1 8.2
Top 1 Percent 29.2 5.0 4.1 10.4
Top 0.1 Percent 31.0 2.3 1.8 5.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $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.
END OF FOOTNOTES TO TABLE
Table T08-0182
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20091
Detail Table -- Tax Units with Children
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 9.1 0.0 0.1 0.1 -9 0.8
Second Quintile 74.8 0.4 1.0 3.5 -306 -14.9
Middle Quintile 96.4 0.2 1.7 10.4 -881 -9.2
Fourth Quintile 99.6 0.0 2.8 24.5 -2,281 -11.0
Top Quintile 99.6 0.0 3.0 61.4 -6,650 -8.0
All 75.4 0.1 2.5 100.0 -1,847 -9.0
Addendum
80-90 99.8 0.0 3.4 19.1 -3,946 -10.8
90-95 100.0 0.0 3.5 12.6 -5,737 -10.3
95-99 98.8 0.0 2.5 12.4 -7,007 -6.5
Top 1 Percent 98.8 0.1 2.7 17.3 -40,524 -6.3
Top 0.1 Percent 100.0 0.0 3.8 11.2 -268,409 -8.4
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -0.1 -1.3 -0.1 -8.8
Second Quintile -0.1 2.0 -0.9 5.2
Middle Quintile 0.0 10.1 -1.4 14.2
Fourth Quintile -0.4 19.6 -2.3 18.2
Top Quintile 0.7 69.5 -2.2 24.8
All 0.0 100.0 -1.9 19.6
Addendum
80-90 -0.3 15.6 -2.6 21.4
90-95 -0.2 10.9 -2.6 22.9
95-99 0.5 17.6 -1.8 25.5
Top 1 Percent 0.7 25.5 -1.9 28.2
Top 0.1 Percent 0.1 12.1 -2.6 28.5
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 9,648 20.1 14,150 -1,230 15,380
Second Quintile 10,138 21.1 33,628 2,049 31,578
Middle Quintile 10,440 21.7 61,157 9,590 51,567
Fourth Quintile 9,539 19.8 101,199 20,699 80,500
Top Quintile 8,194 17.0 306,666 82,784 223,881
All 48,094 100.0 95,281 20,498 74,782
Addendum
80-90 4,292 8.9 153,064 36,632 116,432
90-95 1,951 4.1 218,471 55,676 162,796
95-99 1,572 3.3 392,713 107,147 285,567
Top 1 Percent 379 0.8 2,144,629 644,360 1,500,269
Top 0.1 Percent 37 0.1 10,295,847 3,201,895 7,093,952
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile -8.7 3.0 4.1 -1.2
Second Quintile 6.1 7.4 8.9 2.1
Middle Quintile 15.7 13.9 15.0 10.2
Fourth Quintile 20.5 21.1 21.4 20.0
Top Quintile 27.0 54.8 51.0 68.8
All 21.5 100.0 100.0 100.0
Addendum
80-90 23.9 14.3 13.9 16.0
90-95 25.5 9.3 8.8 11.0
95-99 27.3 13.5 12.5 17.1
Top 1 Percent 30.1 17.7 15.8 24.8
Top 0.1 Percent 31.1 8.3 7.3 12.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
Note: Tax units with children are those claiming an exemption for
children at home or away from home.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $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.
END OF FOOTNOTES TO TABLE
Table T08-0182
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20091
Detail Table -- Elderly Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 28.3 0.0 0.3 0.4 -33 -14.8
Second Quintile 51.2 0.0 0.5 1.5 -103 -11.8
Middle Quintile 75.0 0.0 0.7 2.3 -273 -9.8
Fourth Quintile 86.8 0.0 1.0 6.3 -614 -7.1
Top Quintile 95.9 0.0 4.4 89.4 -8,154 -13.6
All 65.8 0.0 3.0 100.0 -1,812 -12.8
Addendum
80-90 93.2 0.0 1.9 7.9 -1,635 -9.1
90-95 96.5 0.0 2.5 8.6 -3,018 -10.4
95-99 99.5 0.0 4.3 22.5 -8,774 -14.0
Top 1 Percent 98.8 0.1 6.6 50.5 -67,108 -15.5
Top 0.1 Percent 99.7 0.0 7.8 27.1 -355,190 -16.3
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.3 -0.3 1.9
Second Quintile 0.0 1.6 -0.5 3.6
Middle Quintile 0.1 3.1 -0.7 6.1
Fourth Quintile 0.7 12.0 -0.9 11.5
Top Quintile -0.8 82.9 -3.3 21.0
All 0.0 100.0 -2.4 16.4
Addendum
80-90 0.5 11.5 -1.6 15.6
90-95 0.3 10.8 -2.0 17.6
95-99 -0.3 20.2 -3.3 20.2
Top 1 Percent -1.3 40.4 -4.6 25.3
Top 0.1 Percent -0.9 20.4 -5.3 27.0
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 5,675 19.8 9,958 225 9,733
Second Quintile 7,562 26.4 21,260 874 20,386
Middle Quintile 4,371 15.3 41,175 2,802 38,372
Fourth Quintile 5,321 18.6 69,880 8,634 61,246
Top Quintile 5,689 19.9 246,281 59,870 186,411
All 28,639 100.0 75,721 14,211 61,511
Addendum
80-90 2,500 8.7 105,353 18,022 87,330
90-95 1,471 5.1 147,862 29,004 118,858
95-99 1,329 4.6 266,234 62,662 203,572
Top 1 Percent 391 1.4 1,451,124 434,478 1,016,645
Top 0.1 Percent 40 0.1 6,768,885 2,184,219 4,584,666
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 2.3 2.6 3.1 0.3
Second Quintile 4.1 7.4 8.8 1.6
Middle Quintile 6.8 8.3 9.5 3.0
Fourth Quintile 12.4 17.2 18.5 11.3
Top Quintile 24.3 64.6 60.2 83.7
All 18.8 100.0 100.0 100.0
Addendum
80-90 17.1 12.1 12.4 11.1
90-95 19.6 10.0 9.9 10.5
95-99 23.5 16.3 15.4 20.5
Top 1 Percent 29.9 26.1 22.5 41.7
Top 0.1 Percent 32.3 12.4 10.3 21.3
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 5.8
Note: Elderly tax units are those with either head or spouse (if
filing jointly) age 65 or older.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $12,921, 40%
$24,393, 60% $41,924, 80% $67,748, 90% $96,780, 95% $137,143, 99% $359,711,
99.9% $1,730,730.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0183
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20091
Summary Table
Percent of Tax Units3 Percent Share of
Cash Income Change in Total
Level (thousands With Tax With Tax After-Tax Federal Tax
of 2008 dollars)2 Cut Increase Income4 Change
Less than 10 15.6 0.0 0.3 0.1
10-20 41.2 0.0 0.7 0.8
20-30 68.2 0.1 1.0 1.3
30-40 78.5 0.2 1.1 1.5
40-50 80.6 0.4 1.1 1.5
50-75 89.0 0.3 1.7 5.6
75-100 92.5 0.0 2.0 6.0
100-200 97.3 0.0 3.5 22.0
200-500 99.7 0.0 6.0 21.6
500-1,000 99.7 0.0 6.4 9.5
More than 1,000 99.9 0.0 8.8 30.0
All 70.3 0.1 3.8 100.0
[table continued]
Average Average Federal Tax Rate5
Cash Income Federal
Level (thousands Tax Change (% Under the
of 2008 dollars)2 Change ($) Points) Proposal
Less than 10 -17 -0.3 4.7
10-20 -107 -0.7 3.9
20-30 -228 -0.9 8.5
30-40 -343 -1.0 12.4
40-50 -441 -1.0 15.0
50-75 -881 -1.4 16.6
75-100 -1,425 -1.6 18.2
100-200 -3,770 -2.7 20.1
200-500 -12,939 -4.4 21.6
500-1,000 -32,518 -4.7 22.2
More than 1,000 -195,403 -6.1 24.2
All -2,250 -3.0 18.7
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0183
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20091
Detail Table
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 15.6 0.0 0.3 0.1 -17 -5.9
10-20 41.2 0.0 0.7 0.8 -107 -15.2
20-30 68.2 0.1 1.0 1.3 -228 -9.6
30-40 78.5 0.2 1.1 1.5 -343 -7.2
40-50 80.6 0.4 1.1 1.5 -441 -6.0
50-75 89.0 0.3 1.7 5.6 -881 -7.8
75-100 92.5 0.0 2.0 6.0 -1,425 -8.1
100-200 97.3 0.0 3.5 22.0 -3,770 -12.0
200-500 99.7 0.0 6.0 21.6 -12,939 -17.0
500-1,000 99.7 0.0 6.4 9.5 -32,518 -17.4
More than 1,000 99.9 0.0 8.8 30.0 -195,403 -20.1
All 70.3 0.1 3.8 100.0 -2,250 -13.8
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.2 -0.3 4.7
10-20 0.0 0.7 -0.7 3.9
20-30 0.1 2.0 -0.9 8.5
30-40 0.2 3.0 -1.0 12.4
40-50 0.3 3.8 -1.0 15.0
50-75 0.7 10.7 -1.4 16.6
75-100 0.7 10.7 -1.6 18.2
100-200 0.5 25.8 -2.7 20.1
200-500 -0.7 16.8 -4.4 21.6
500-1,000 -0.3 7.2 -4.7 22.2
More than 1,000 -1.5 19.0 -6.1 24.2
All 0.0 100.0 -3.0 18.7
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20091
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 17,204 11.5 5,704 283 5,421
10-20 24,101 16.0 15,181 702 14,479
20-30 19,493 13.0 25,314 2,368 22,947
30-40 14,384 9.6 35,555 4,744 30,811
40-50 11,749 7.8 45,838 7,317 38,521
50-75 21,662 14.4 63,039 11,364 51,674
75-100 14,107 9.4 88,790 17,553 71,236
100-200 19,712 13.1 138,154 31,521 106,633
200-500 5,636 3.8 291,886 76,093 215,793
500-1,000 989 0.7 695,069 186,664 508,405
More than 1,000 519 0.4 3,199,967 970,835 2,229,132
All 150,241 100.0 75,289 16,358 58,930
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 5.0 0.9 1.1 0.2
10-20 4.6 3.2 3.9 0.7
20-30 9.4 4.4 5.1 1.9
30-40 13.3 4.5 5.0 2.8
40-50 16.0 4.8 5.1 3.5
50-75 18.0 12.1 12.6 10.0
75-100 19.8 11.1 11.4 10.1
100-200 22.8 24.1 23.7 25.3
200-500 26.1 14.5 13.7 17.5
500-1,000 26.9 6.1 5.7 7.5
More than 1,000 30.3 14.7 13.1 20.5
All 21.7 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0183
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20091
Detail Table -- Single Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 15.4 0.0 0.3 0.3 -15 -3.6
10-20 53.5 0.0 1.1 3.4 -148 -11.9
20-30 78.8 0.0 1.2 3.8 -250 -6.9
30-40 79.8 0.0 1.0 2.8 -284 -4.4
40-50 75.1 0.5 0.8 2.5 -308 -3.4
50-75 86.8 0.4 2.1 12.6 -1,011 -7.5
75-100 88.6 0.0 2.3 7.6 -1,525 -7.3
100-200 91.9 0.0 2.6 11.9 -2,650 -8.0
200-500 98.5 0.0 6.7 16.1 -14,436 -18.4
500-1,000 99.3 0.0 9.5 9.4 -47,326 -24.0
More than 1,000 99.7 0.0 3.5 29.4 -281,103 -26.2
All 62.7 0.1 3.1 100.0 -1,010 -11.2
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.1 1.0 -0.3 7.3
10-20 0.0 3.2 -1.0 7.3
20-30 0.3 6.5 -1.0 13.4
30-40 0.6 7.8 -0.8 17.4
40-50 0.7 9.1 -0.7 18.9
50-75 0.8 19.7 -1.6 20.2
75-100 0.5 12.2 -1.7 22.0
100-200 0.6 17.3 -2.0 22.6
200-500 -0.8 9.0 -4.9 21.7
500-1,000 -0.6 3.8 -6.8 21.7
More than 1,000 -2.1 10.5 -8.9 25.2
All 0.0 100.0 -2.4 19.0
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20091
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 12,556 19.3 5,704 429 5,275
10-20 14,909 23.0 15,017 1,248 13,769
20-30 9,879 15.2 25,243 3,641 21,602
30-40 6,530 10.1 35,566 6,474 29,093
40-50 5,421 8.4 45,797 8,980 36,817
50-75 8,162 12.6 62,150 13,567 48,582
75-100 3,264 5.0 87,974 20,907 67,067
100-200 2,958 4.6 134,418 33,072 101,346
200-500 730 1.1 295,280 78,380 216,900
500-1,000 130 0.2 694,203 197,611 496,592
More than 1,000 69 0.1 3,156,727 1,074,908 2,081,819
All 64,958 100.0 42,053 9,009 33,043
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 7.5 2.6 3.1 0.9
10-20 8.3 8.2 9.6 3.2
20-30 14.4 9.1 9.9 6.2
30-40 18.2 8.5 8.9 7.2
40-50 19.6 9.1 9.3 8.3
50-75 21.8 18.6 18.5 18.9
75-100 23.8 10.5 10.2 11.7
100-200 24.6 14.6 14.0 16.7
200-500 26.5 7.9 7.4 9.8
500-1,000 28.5 3.3 3.0 4.4
More than 1,000 34.1 7.9 6.7 12.6
All 21.4 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0183
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20091
Detail Table -- Married Tax Units Filing Jointly
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 24.3 0.0 0.8 0.0 -39 -15.7
10-20 27.1 0.0 0.4 0.1 -56 -12.4
20-30 57.6 0.0 0.9 0.4 -227 -18.2
30-40 74.7 0.3 1.1 0.6 -375 -13.1
40-50 82.8 0.2 1.1 0.7 -466 -8.9
50-75 89.4 0.3 1.2 2.6 -674 -7.1
75-100 93.2 0.0 1.8 4.8 -1,281 -7.9
100-200 98.3 0.0 3.7 25.4 -3,975 -12.7
200-500 99.9 0.0 5.9 24.2 -12,655 -16.7
500-1,000 99.7 0.0 5.9 10.1 -30,185 -16.3
More than 1,000 100.0 0.0 8.0 30.9 -177,870 -19.0
All 82.9 0.1 4.3 100.0 -4,161 -14.7
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.0 -0.8 4.3
10-20 0.0 0.1 -0.4 2.5
20-30 0.0 0.3 -0.9 4.0
30-40 0.0 0.7 -1.1 7.0
40-50 0.1 1.2 -1.0 10.3
50-75 0.5 5.9 -1.1 13.7
75-100 0.7 9.6 -1.4 16.7
100-200 0.7 29.9 -2.9 19.5
200-500 -0.5 20.7 -4.4 21.7
500-1,000 -0.2 8.9 -4.3 22.2
More than 1,000 -1.2 22.6 -5.7 24.1
All 0.0 100.0 -3.3 19.4
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20091
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,093 3.5 4,904 249 4,655
10-20 3,937 6.6 15,709 451 15,258
20-30 4,757 8.0 25,357 1,245 24,112
30-40 3,946 6.6 35,641 2,874 32,767
40-50 3,659 6.2 45,966 5,207 40,759
50-75 9,688 16.3 64,204 9,479 54,725
75-100 9,341 15.7 89,292 16,147 73,145
100-200 15,817 26.6 139,272 31,189 108,083
200-500 4,725 7.9 291,151 75,739 215,412
500-1,000 827 1.4 695,396 184,872 510,524
More than 1,000 430 0.7 3,148,057 936,517 2,211,540
All 59,479 100.0 125,155 28,407 96,748
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 5.1 0.1 0.2 0.0
10-20 2.9 0.8 1.0 0.1
20-30 4.9 1.6 2.0 0.4
30-40 8.1 1.9 2.3 0.7
40-50 11.3 2.3 2.6 1.1
50-75 14.8 8.4 9.2 5.4
75-100 18.1 11.2 11.9 8.9
100-200 22.4 29.6 29.7 29.2
200-500 26.0 18.5 17.7 21.2
500-1,000 26.6 7.7 7.3 9.1
More than 1,000 29.8 18.2 16.5 23.8
All 22.7 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0183
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20091
Detail Table -- Head of Household Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 8.7 0.0 0.1 0.1 -5 1.0
10-20 13.0 0.0 0.1 0.4 -15 1.8
20-30 54.5 0.3 0.7 4.7 -177 -29.3
30-40 79.9 0.5 1.3 8.6 -412 -12.0
40-50 90.0 0.4 1.7 9.1 -673 -10.4
50-75 92.5 0.0 2.0 19.9 -1,030 -9.3
75-100 96.7 0.0 3.0 15.0 -2,039 -11.0
100-200 97.9 0.0 3.6 16.5 -3,578 -11.4
200-500 99.7 0.0 5.9 10.2 -13,105 -17.6
500-1,000 100.0 0.0 5.7 3.4 -28,430 -15.6
More than 1,000 99.4 0.0 8.7 12.0 -185,175 -19.9
All 57.7 0.2 2.1 100.0 -732 -12.8
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 -0.1 -1.0 -0.1 -7.3
10-20 -0.5 -3.6 -0.1 -5.5
20-30 -0.4 1.7 -0.7 1.7
30-40 0.1 9.3 -1.2 8.6
40-50 0.3 11.6 -1.5 12.7
50-75 1.1 28.4 -1.7 16.2
75-100 0.4 17.9 -2.3 18.9
100-200 0.3 18.9 -2.7 21.4
200-500 -0.4 7.0 -4.4 20.6
500-1,000 -0.1 2.7 -4.2 22.5
More than 1,000 -0.6 7.1 -6.0 24.4
All 0.0 100.0 -1.8 12.4
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20091
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,406 10.3 6,412 -464 6,876
10-20 4,961 21.3 15,257 -830 16,087
20-30 4,512 19.4 25,403 605 24,799
30-40 3,554 15.3 35,401 3,438 31,963
40-50 2,315 9.9 45,811 6,485 39,326
50-75 3,290 14.1 61,934 11,052 50,882
75-100 1,254 5.4 87,576 18,587 68,989
100-200 786 3.4 130,519 31,457 99,062
200-500 132 0.6 298,070 74,573 223,497
500-1,000 21 0.1 683,864 182,579 501,285
More than 1,000 11 0.1 3,070,023 932,865 2,137,158
All 23,292 100.0 40,351 5,718 34,633
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 -7.2 1.6 2.1 -0.8
10-20 -5.4 8.1 9.9 -3.1
20-30 2.4 12.2 13.9 2.1
30-40 9.7 13.4 14.1 9.2
40-50 14.2 11.3 11.3 11.3
50-75 17.9 21.7 20.8 27.3
75-100 21.2 11.7 10.7 17.5
100-200 24.1 10.9 9.7 18.6
200-500 25.0 4.2 3.7 7.4
500-1,000 26.7 1.5 1.3 2.8
More than 1,000 30.4 3.6 2.9 7.7
All 14.2 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0183
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20091
Detail Table -- Tax Units with Children
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 6.3 0.0 0.1 0.0 -7 1.1
10-20 11.2 0.0 0.1 0.1 -16 1.1
20-30 49.5 0.2 0.6 0.6 -150 155.5
30-40 81.4 0.4 1.2 1.2 -399 -14.2
40-50 92.0 0.4 1.7 1.6 -664 -11.4
50-75 96.9 0.3 2.0 5.1 -1,055 -10.4
75-100 99.2 0.0 2.6 7.2 -1,875 -11.1
100-200 99.8 0.0 4.3 27.5 -4,614 -14.5
200-500 100.0 0.0 6.3 23.4 -13,288 -17.3
500-1,000 99.9 0.0 5.8 8.4 -28,974 -15.2
More than 1,000 100.0 0.0 8.1 24.9 -179,409 -18.5
All 75.5 0.1 4.3 100.0 -3,179 -15.5
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 -0.2 -0.1 -11.5
10-20 -0.2 -0.9 -0.1 -9.2
20-30 -0.1 -0.2 -0.6 -1.0
30-40 0.0 1.4 -1.1 6.8
40-50 0.1 2.3 -1.5 11.2
50-75 0.5 8.1 -1.7 14.4
75-100 0.5 10.5 -2.1 16.8
100-200 0.4 29.7 -3.3 19.6
200-500 -0.4 20.5 -4.6 22.0
500-1,000 0.0 8.6 -4.2 23.3
More than 1,000 -0.7 20.1 -5.6 24.9
All 0.0 100.0 -3.3 18.2
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20091
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,701 5.6 5,981 -682 6,663
10-20 5,494 11.4 15,478 -1,408 16,886
20-30 5,603 11.7 25,399 -97 25,495
30-40 4,726 9.8 35,550 2,818 32,732
40-50 3,756 7.8 45,850 5,815 40,036
50-75 7,394 15.4 63,220 10,145 53,076
75-100 5,839 12.1 89,123 16,866 72,257
100-200 9,103 18.9 139,015 31,823 107,192
200-500 2,690 5.6 288,713 76,858 211,855
500-1,000 442 0.9 693,043 190,429 502,614
More than 1,000 212 0.4 3,179,388 970,051 2,209,337
All 48,094 100.0 95,281 20,498 74,782
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 -11.4 0.4 0.5 -0.2
10-20 -9.1 1.9 2.6 -0.8
20-30 -0.4 3.1 4.0 -0.1
30-40 7.9 3.7 4.3 1.4
40-50 12.7 3.8 4.2 2.2
50-75 16.1 10.2 10.9 7.6
75-100 18.9 11.4 11.7 10.0
100-200 22.9 27.6 27.1 29.4
200-500 26.6 17.0 15.8 21.0
500-1,000 27.5 6.7 6.2 8.6
More than 1,000 30.5 14.7 13.0 20.9
All 21.5 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
Note: Tax units with children are those claiming an exemption for children at
home or away from home.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0183
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20091
Detail Table -- Elderly Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 28.8 0.0 0.6 0.1 -36 -20.2
10-20 40.3 0.0 0.6 0.7 -85 -21.4
20-30 67.6 0.0 1.1 1.3 -252 -19.7
30-40 76.3 0.0 1.1 1.0 -367 -17.3
40-50 78.3 0.0 1.0 0.9 -414 -11.6
50-75 87.1 0.0 1.4 4.0 -778 -10.6
75-100 92.9 0.0 1.8 4.5 -1,382 -10.7
100-200 97.5 0.0 3.6 16.3 -4,037 -15.5
200-500 99.6 0.0 6.8 21.2 -15,482 -21.6
500-1,000 99.7 0.0 8.9 12.6 -44,995 -23.9
More than 1,000 99.9 0.0 10.8 37.2 -232,777 -23.9
All 68.7 0.0 4.5 100.0 -2,755 -19.4
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.1 -0.5 2.2
10-20 0.0 0.6 -0.6 2.1
20-30 0.0 1.3 -1.0 4.1
30-40 0.0 1.2 -1.0 5.0
40-50 0.1 1.7 -0.9 6.8
50-75 0.8 8.2 -1.2 10.3
75-100 0.9 9.0 -1.6 13.1
100-200 1.0 21.4 -2.9 16.0
200-500 -0.5 18.5 -5.2 18.8
500-1,000 -0.6 9.6 -6.5 20.6
More than 1,000 -1.7 28.5 -7.4 23.7
All 0.0 100.0 -3.6 15.1
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20091
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,765 9.7 6,577 177 6,400
10-20 6,689 23.4 15,129 399 14,730
20-30 4,053 14.2 24,891 1,275 23,616
30-40 2,142 7.5 35,242 2,124 33,118
40-50 1,714 6.0 46,021 3,564 42,457
50-75 4,095 14.3 63,445 7,324 56,122
75-100 2,542 8.9 88,251 12,934 75,317
100-200 3,191 11.1 137,801 26,024 111,776
200-500 1,082 3.8 298,445 71,553 226,893
500-1,000 221 0.8 696,175 188,080 508,095
More than 1,000 126 0.4 3,134,426 974,466 2,159,960
All 28,639 100.0 75,721 14,211 61,511
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 2.7 0.8 1.0 0.1
10-20 2.6 4.7 5.6 0.7
20-30 5.1 4.7 5.4 1.3
30-40 6.0 3.5 4.0 1.1
40-50 7.7 3.6 4.1 1.5
50-75 11.5 12.0 13.1 7.4
75-100 14.7 10.3 10.9 8.1
100-200 18.9 20.3 20.3 20.4
200-500 24.0 14.9 13.9 19.0
500-1,000 27.0 7.1 6.4 10.2
More than 1,000 31.1 18.2 15.5 30.2
All 18.8 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
Note: Elderly tax units are those with either head or spouse (if filing
jointly) age 65 or older.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0184
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile, 20091
Summary Table
Percent of Tax Units4 Percent Share of
Change in Total
Cash Income With Tax With Tax After-Tax Federal
Percentile2,3 Cut Increase Income5 Tax Change
Lowest Quintile 29.2 0.0 0.6 0.8
Second Quintile 70.7 0.1 1.0 2.5
Middle Quintile 84.3 0.3 1.4 5.4
Fourth Quintile 92.6 0.0 2.1 11.1
Top Quintile 98.7 0.0 5.9 80.1
All 70.3 0.1 3.8 100.0
Addendum
80-90 97.8 0.0 3.6 12.5
90-95 99.5 0.0 4.4 10.2
95-99 99.7 0.0 6.3 20.9
Top 1 Percent 99.8 0.0 8.2 36.5
Top 0.1 Percent 100.0 0.0 9.4 19.5
[table continued]
Average Average Federal Tax Rate6
Federal
Cash Income Tax Change (% Under the
Percentile2,3 Change ($) Points) Proposal
Lowest Quintile -65 -0.6 3.9
Second Quintile -259 -0.9 9.7
Middle Quintile -608 -1.2 15.7
Fourth Quintile -1,487 -1.7 18.2
Top Quintile -12,144 -4.4 21.9
All -2,250 -3.0 18.7
Addendum
80-90 -3,736 -2.8 20.0
90-95 -6,322 -3.3 21.1
95-99 -15,877 -4.7 21.8
Top 1 Percent -109,214 -5.8 23.8
Top 0.1 Percent -577,148 -6.5 24.9
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The breaks are (in 2008 dollars): 20%
$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.
END OF FOOTNOTES TO TABLE
Table T08-0184
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile, 20091
Detail Table
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 29.2 0.0 0.6 0.8 -65 -13.4
Second Quintile 70.7 0.1 1.0 2.5 -259 -8.7
Middle Quintile 84.3 0.3 1.4 5.4 -608 -7.0
Fourth Quintile 92.6 0.0 2.1 11.1 -1,487 -8.5
Top Quintile 98.7 0.0 5.9 80.1 -12,144 -16.6
All 70.3 0.1 3.8 100.0 -2,250 -13.8
Addendum
80-90 97.8 0.0 3.6 12.5 -3,736 -12.2
90-95 99.5 0.0 4.4 10.2 -6,322 -13.5
95-99 99.7 0.0 6.3 20.9 -15,877 -17.6
Top 1 Percent 99.8 0.0 8.2 36.5 -109,214 -19.6
Top 0.1 Percent 100.0 0.0 9.4 19.5 -577,148 -20.6
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.8 -0.6 3.9
Second Quintile 0.2 4.3 -0.9 9.7
Middle Quintile 0.9 11.6 -1.2 15.7
Fourth Quintile 1.1 19.0 -1.7 18.2
Top Quintile -2.2 64.3 -4.4 21.9
All 0.0 100.0 -3.0 18.7
Addendum
80-90 0.3 14.3 -2.8 20.0
90-95 0.0 10.4 -3.3 21.1
95-99 -0.7 15.6 -4.7 21.8
Top 1 Percent -1.7 24.0 -5.8 23.8
Top 0.1 Percent -1.0 12.0 -6.5 24.9
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 39,102 26.0 10,744 489 10,256
Second Quintile 32,942 21.9 28,057 2,990 25,066
Middle Quintile 30,075 20.0 51,924 8,758 43,166
Fourth Quintile 25,152 16.7 87,992 17,474 70,518
Top Quintile 22,287 14.8 279,244 73,327 205,917
All 150,241 100.0 75,289 16,358 58,930
Addendum
80-90 11,264 7.5 135,143 30,710 104,433
90-95 5,439 3.6 192,266 46,956 145,310
95-99 4,454 3.0 340,985 90,123 250,862
Top 1 Percent 1,131 0.8 1,889,937 558,571 1,331,366
Top 0.1 Percent 114 0.1 8,929,410 2,798,346 6,131,064
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 4.6 3.7 4.5 0.8
Second Quintile 10.7 8.2 9.3 4.0
Middle Quintile 16.9 13.8 14.7 10.7
Fourth Quintile 19.9 19.6 20.0 17.9
Top Quintile 26.3 55.0 51.8 66.5
All 21.7 100.0 100.0 100.0
Addendum
80-90 22.7 13.5 13.3 14.1
90-95 24.4 9.3 8.9 10.4
95-99 26.4 13.4 12.6 16.3
Top 1 Percent 29.6 18.9 17.0 25.7
Top 0.1 Percent 31.3 9.0 7.9 13.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The breaks are (in 2008 dollars): 20%
$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.
END OF FOOTNOTES TO TABLE
Table T08-0184
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile,
Adjusted for Family Size, 20091
Detail Table
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 19.3 0.0 0.3 0.3 -26 -27.8
Second Quintile 70.4 0.2 1.3 2.7 -292 -13.5
Middle Quintile 85.0 0.1 1.6 5.3 -608 -8.4
Fourth Quintile 88.2 0.2 2.2 11.3 -1,339 -8.9
Top Quintile 95.8 0.0 5.5 80.4 -9,540 -15.6
All 70.3 0.1 3.8 100.0 -2,250 -13.8
Addendum
80-90 94.0 0.0 3.2 12.0 -2,834 -10.8
90-95 96.3 0.0 3.8 10.0 -4,695 -11.9
95-99 98.8 0.0 5.6 19.9 -12,028 -15.8
Top 1 Percent 99.6 0.0 8.2 38.4 -95,369 -19.7
Top 0.1 Percent 99.9 0.0 9.5 20.5 -512,612 -20.8
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.1 -0.3 0.7
Second Quintile 0.0 2.7 -1.2 7.4
Middle Quintile 0.5 9.2 -1.3 14.5
Fourth Quintile 1.0 18.4 -1.7 17.8
Top Quintile -1.5 69.5 -4.1 22.0
All 0.0 100.0 -3.0 18.7
Addendum
80-90 0.5 15.8 -2.5 20.3
90-95 0.3 11.8 -2.9 21.3
95-99 -0.4 16.9 -4.1 21.9
Top 1 Percent -1.9 24.9 -5.8 23.6
Top 0.1 Percent -1.1 12.4 -6.5 24.8
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 32,429 21.6 10,059 95 9,963
Second Quintile 30,972 20.6 25,261 2,171 23,091
Middle Quintile 29,186 19.4 46,073 7,275 38,798
Fourth Quintile 28,494 19.0 76,773 14,997 61,776
Top Quintile 28,475 19.0 235,357 61,276 174,081
All 150,241 100.0 75,289 16,358 58,930
Addendum
80-90 14,316 9.5 115,555 26,273 89,281
90-95 7,191 4.8 163,422 39,524 123,898
95-99 5,606 3.7 292,160 76,083 216,078
Top 1 Percent 1,362 0.9 1,640,591 483,081 1,157,511
Top 0.1 Percent 135 0.1 7,862,950 2,460,688 5,402,262
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 1.0 2.9 3.7 0.1
Second Quintile 8.6 6.9 8.1 2.7
Middle Quintile 15.8 11.9 12.8 8.6
Fourth Quintile 19.5 19.3 19.9 17.4
Top Quintile 26.0 59.3 56.0 71.0
All 21.7 100.0 100.0 100.0
Addendum
80-90 22.7 14.6 14.4 15.3
90-95 24.2 10.4 10.1 11.6
95-99 26.0 14.5 13.7 17.4
Top 1 Percent 29.5 19.8 17.8 26.8
Top 0.1 Percent 31.3 9.4 8.2 13.5
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $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.
END OF FOOTNOTES TO TABLE
Table T08-0184
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile,
Adjusted for Family Size, 20091
Detail Table -- Single Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 21.9 0.0 0.4 0.8 -28 -5.7
Second Quintile 68.1 0.0 1.3 4.9 -218 -10.5
Middle Quintile 80.1 0.0 1.0 5.4 -284 -4.8
Fourth Quintile 81.3 0.5 1.6 10.8 -672 -5.9
Top Quintile 91.1 0.0 5.3 77.8 -5,860 -14.6
All 62.7 0.1 3.1 100.0 -1,010 -11.2
Addendum
80-90 89.3 0.0 2.4 10.6 -1,516 -7.8
90-95 89.6 0.1 2.2 6.5 -1,939 -6.8
95-99 96.4 0.0 4.6 16.7 -6,899 -13.4
Top 1 Percent 98.9 0.0 11.5 44.1 -85,679 -24.9
Top 0.1 Percent 99.9 0.0 14.0 23.1 -507,070 -26.3
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.1 1.6 -0.4 6.1
Second Quintile 0.0 5.3 -1.1 9.7
Middle Quintile 0.9 13.7 -0.9 17.0
Fourth Quintile 1.3 21.9 -1.2 19.7
Top Quintile -2.3 57.4 -3.9 22.6
All 0.0 100.0 -2.4 19.0
Addendum
80-90 0.6 15.9 -1.8 21.8
90-95 0.5 11.2 -1.7 22.8
95-99 -0.4 13.5 -3.4 22.0
Top 1 Percent -3.1 16.8 -7.9 23.7
Top 0.1 Percent -1.7 8.2 -9.1 25.6
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 17,979 27.7 7,650 495 7,155
Second Quintile 14,788 22.8 19,082 2,075 17,008
Middle Quintile 12,570 19.4 33,514 5,963 27,551
Fourth Quintile 10,552 16.2 54,870 11,459 43,411
Top Quintile 8,719 13.4 151,432 40,037 111,395
All 64,958 100.0 42,053 9,009 33,043
Addendum
80-90 4,605 7.1 82,197 19,411 62,786
90-95 2,193 3.4 116,199 28,446 87,752
95-99 1,584 2.4 201,882 51,326 150,556
Top 1 Percent 338 0.5 1,087,643 343,598 744,045
Top 0.1 Percent 30 0.1 5,550,592 1,927,502 3,623,090
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 6.5 5.0 6.0 1.5
Second Quintile 10.9 10.3 11.7 5.2
Middle Quintile 17.8 15.4 16.1 12.8
Fourth Quintile 20.9 21.2 21.3 20.7
Top Quintile 26.4 48.3 45.3 59.7
All 21.4 100.0 100.0 100.0
Addendum
80-90 23.6 13.9 13.5 15.3
90-95 24.5 9.3 9.0 10.7
95-99 25.4 11.7 11.1 13.9
Top 1 Percent 31.6 13.5 11.7 19.8
Top 0.1 Percent 34.7 6.1 5.0 9.8
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $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.
END OF FOOTNOTES TO TABLE
Table T08-0184
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile,
Adjusted for Family Size, 20091
Detail Table -- Married Tax Units Filing Jointly
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 22.9 0.0 0.3 0.1 -43 -44.1
Second Quintile 73.9 0.2 1.3 1.3 -374 -14.3
Middle Quintile 88.4 0.2 1.7 3.9 -878 -10.3
Fourth Quintile 92.8 0.0 2.4 10.7 -1,786 -10.2
Top Quintile 98.1 0.0 5.5 83.8 -11,421 -15.8
All 82.9 0.1 4.3 100.0 -4,161 -14.7
Addendum
80-90 96.4 0.0 3.4 12.6 -3,585 -11.9
90-95 99.5 0.0 4.2 11.4 -6,014 -13.4
95-99 99.8 0.0 5.8 21.8 -14,245 -16.4
Top 1 Percent 99.8 0.0 7.6 38.0 -97,444 -18.5
Top 0.1 Percent 100.0 0.0 8.7 19.9 -508,063 -19.6
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.0 -0.3 0.4
Second Quintile 0.0 1.3 -1.2 6.9
Middle Quintile 0.3 5.9 -1.5 12.9
Fourth Quintile 0.8 16.2 -1.9 16.9
Top Quintile -1.1 76.5 -4.1 21.8
All 0.0 100.0 -3.3 19.4
Addendum
80-90 0.5 16.0 -2.7 19.7
90-95 0.2 12.7 -3.2 20.8
95-99 -0.4 19.1 -4.3 21.9
Top 1 Percent -1.4 28.7 -5.4 23.6
Top 0.1 Percent -0.9 14.1 -6.0 24.6
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 6,621 11.1 13,343 98 13,245
Second Quintile 8,578 14.4 32,397 2,613 29,785
Middle Quintile 11,027 18.5 59,438 8,556 50,882
Fourth Quintile 14,829 24.9 93,284 17,517 75,767
Top Quintile 18,163 30.5 278,505 72,149 206,356
All 59,479 100.0 125,155 28,407 96,748
Addendum
80-90 8,717 14.7 134,567 30,085 104,482
90-95 4,700 7.9 186,829 44,951 141,877
95-99 3,780 6.4 332,302 87,124 245,177
Top 1 Percent 965 1.6 1,813,978 525,774 1,288,205
Top 0.1 Percent 97 0.2 8,464,842 2,593,798 5,871,044
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 0.7 1.2 1.5 0.0
Second Quintile 8.1 3.7 4.4 1.3
Middle Quintile 14.4 8.8 9.8 5.6
Fourth Quintile 18.8 18.6 19.5 15.4
Top Quintile 25.9 68.0 65.1 77.6
All 22.7 100.0 100.0 100.0
Addendum
80-90 22.4 15.8 15.8 15.5
90-95 24.1 11.8 11.6 12.5
95-99 26.2 16.9 16.1 19.5
Top 1 Percent 29.0 23.5 21.6 30.0
Top 0.1 Percent 30.6 11.1 9.9 14.9
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $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.
END OF FOOTNOTES TO TABLE
Table T08-0184
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile,
Adjusted for Family Size, 20091
Detail Table -- Head of Household Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 9.3 0.0 0.1 0.3 -7 0.8
Second Quintile 70.0 0.5 1.2 14.3 -339 -19.3
Middle Quintile 89.8 0.1 2.0 23.4 -818 -10.6
Fourth Quintile 90.3 0.0 2.5 21.5 -1,480 -9.6
Top Quintile 94.4 0.0 4.6 40.3 -6,095 -13.4
All 57.7 0.2 2.1 100.0 -732 -12.8
Addendum
80-90 93.7 0.0 2.8 10.2 -2,374 -9.2
90-95 93.3 0.0 3.6 4.9 -4,009 -10.9
95-99 97.8 0.0 5.3 10.1 -10,896 -15.8
Top 1 Percent 99.8 0.0 7.7 15.2 -82,776 -18.8
Top 0.1 Percent 99.5 0.0 9.1 7.9 -488,486 -20.3
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -0.8 -5.9 -0.1 -7.0
Second Quintile -0.7 8.8 -1.2 4.8
Middle Quintile 0.7 28.9 -1.7 14.0
Fourth Quintile 1.1 29.8 -2.0 18.4
Top Quintile -0.3 38.3 -3.4 21.9
All 0.0 100.0 -1.8 12.4
Addendum
80-90 0.6 14.8 -2.2 21.4
90-95 0.1 5.9 -2.7 21.9
95-99 -0.3 7.9 -3.9 21.1
Top 1 Percent -0.7 9.6 -5.5 23.7
Top 0.1 Percent -0.4 4.6 -6.3 24.7
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 7,558 32.5 12,952 -893 13,845
Second Quintile 7,198 30.9 29,592 1,762 27,830
Middle Quintile 4,877 20.9 49,284 7,705 41,578
Fourth Quintile 2,482 10.7 75,584 15,417 60,168
Top Quintile 1,128 4.8 179,427 45,460 133,967
All 23,292 100.0 40,351 5,718 34,633
Addendum
80-90 730 3.1 109,967 25,875 84,092
90-95 209 0.9 149,881 36,808 113,073
95-99 158 0.7 276,495 69,198 207,296
Top 1 Percent 31 0.1 1,510,258 441,228 1,069,030
Top 0.1 Percent 3 0.0 7,770,538 2,410,896 5,359,641
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile -6.9 10.4 13.0 -5.1
Second Quintile 6.0 22.7 24.8 9.5
Middle Quintile 15.6 25.6 25.1 28.2
Fourth Quintile 20.4 20.0 18.5 28.7
Top Quintile 25.3 21.5 18.7 38.5
All 14.2 100.0 100.0 100.0
Addendum
80-90 23.5 8.6 7.6 14.2
90-95 24.6 3.3 2.9 5.8
95-99 25.0 4.7 4.1 8.2
Top 1 Percent 29.2 5.0 4.1 10.4
Top 0.1 Percent 31.0 2.3 1.8 5.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $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.
END OF FOOTNOTES TO TABLE
Table T08-0184
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile,
Adjusted for Family Size, 20091
Detail Table -- Tax Units with Children
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 9.3 0.0 0.1 0.1 -12 0.9
Second Quintile 74.9 0.4 1.2 2.6 -390 -19.0
Middle Quintile 96.5 0.2 2.2 7.7 -1,131 -11.8
Fourth Quintile 99.6 0.0 3.4 16.8 -2,695 -13.0
Top Quintile 99.9 0.0 6.1 72.7 -13,556 -16.4
All 75.5 0.1 4.3 100.0 -3,179 -15.5
Addendum
80-90 99.8 0.0 4.4 14.5 -5,146 -14.1
90-95 100.0 0.0 5.3 11.0 -8,593 -15.4
95-99 99.9 0.0 6.3 18.5 -18,021 -16.8
Top 1 Percent 100.0 0.0 7.7 28.7 -115,908 -18.0
Top 0.1 Percent 100.0 0.0 8.7 14.9 -615,228 -19.2
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -0.2 -1.4 -0.1 -8.8
Second Quintile -0.1 2.0 -1.2 4.9
Middle Quintile 0.5 10.6 -1.9 13.8
Fourth Quintile 0.6 20.6 -2.7 17.8
Top Quintile -0.7 68.1 -4.4 22.6
All 0.0 100.0 -3.3 18.2
Addendum
80-90 0.3 16.2 -3.4 20.6
90-95 0.0 11.0 -3.9 21.6
95-99 -0.3 16.8 -4.6 22.7
Top 1 Percent -0.7 24.0 -5.4 24.6
Top 0.1 Percent -0.5 11.5 -6.0 25.1
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 9,648 20.1 14,150 -1,230 15,380
Second Quintile 10,138 21.1 33,628 2,049 31,578
Middle Quintile 10,440 21.7 61,157 9,590 51,567
Fourth Quintile 9,539 19.8 101,199 20,699 80,500
Top Quintile 8,194 17.0 306,666 82,784 223,881
All 48,094 100.0 95,281 20,498 74,782
Addendum
80-90 4,292 8.9 153,064 36,632 116,432
90-95 1,951 4.1 218,471 55,676 162,796
95-99 1,572 3.3 392,713 107,147 285,567
Top 1 Percent 379 0.8 2,144,629 644,360 1,500,269
Top 0.1 Percent 37 0.1 10,295,847 3,201,895 7,093,952
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile -8.7 3.0 4.1 -1.2
Second Quintile 6.1 7.4 8.9 2.1
Middle Quintile 15.7 13.9 15.0 10.2
Fourth Quintile 20.5 21.1 21.4 20.0
Top Quintile 27.0 54.8 51.0 68.8
All 21.5 100.0 100.0 100.0
Addendum
80-90 23.9 14.3 13.9 16.0
90-95 25.5 9.3 8.8 11.0
95-99 27.3 13.5 12.5 17.1
Top 1 Percent 30.1 17.7 15.8 24.8
Top 0.1 Percent 31.1 8.3 7.3 12.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
Note: Tax units with children are those claiming an exemption for
children at home or away from home.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by divi by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $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.
END OF FOOTNOTES TO TABLE
Table T08-0184
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile,
Adjusted for Family Size, 20091
Detail Table -- Elderly Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 29.8 0.0 0.5 0.3 -45 -19.8
Second Quintile 57.8 0.0 0.9 1.8 -187 -21.4
Middle Quintile 77.2 0.0 1.0 2.1 -370 -13.2
Fourth Quintile 88.4 0.0 1.4 5.6 -828 -9.6
Top Quintile 97.3 0.0 6.7 90.2 -12,499 -20.9
All 68.7 0.0 4.5 100.0 -2,755 -19.4
Addendum
80-90 95.3 0.0 3.0 8.2 -2,593 -14.4
90-95 98.0 0.0 3.8 8.5 -4,566 -15.7
95-99 99.7 0.0 6.3 21.5 -12,750 -20.4
Top 1 Percent 99.8 0.0 10.3 51.9 -104,934 -24.2
Top 0.1 Percent 100.0 0.0 11.6 26.7 -531,616 -24.3
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.3 -0.5 1.8
Second Quintile 0.0 1.6 -0.9 3.2
Middle Quintile 0.2 3.2 -0.9 5.9
Fourth Quintile 1.4 12.7 -1.2 11.2
Top Quintile -1.6 82.2 -5.1 19.2
All 0.0 100.0 -3.6 15.1
Addendum
80-90 0.7 11.8 -2.5 14.7
90-95 0.5 11.0 -3.1 16.5
95-99 -0.2 20.2 -4.8 18.8
Top 1 Percent -2.5 39.2 -7.2 22.7
Top 0.1 Percent -1.3 20.0 -7.9 24.4
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20091
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 5,675 19.8 9,958 225 9,733
Second Quintile 7,562 26.4 21,260 874 20,386
Middle Quintile 4,371 15.3 41,175 2,802 38,372
Fourth Quintile 5,321 18.6 69,880 8,634 61,246
Top Quintile 5,689 19.9 246,281 59,870 186,411
All 28,639 100.0 75,721 14,211 61,511
Addendum
80-90 2,500 8.7 105,353 18,022 87,330
90-95 1,471 5.1 147,862 29,004 118,858
95-99 1,329 4.6 266,234 62,662 203,572
Top 1 Percent 391 1.4 1,451,124 434,478 1,016,645
Top 0.1 Percent 40 0.1 6,768,885 2,184,219 4,584,666
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 2.3 2.6 3.1 0.3
Second Quintile 4.1 7.4 8.8 1.6
Middle Quintile 6.8 8.3 9.5 3.0
Fourth Quintile 12.4 17.2 18.5 11.3
Top Quintile 24.3 64.6 60.2 83.7
All 18.8 100.0 100.0 100.0
Addendum
80-90 17.1 12.1 12.4 11.1
90-95 19.6 10.0 9.9 10.5
95-99 23.5 16.3 15.4 20.5
Top 1 Percent 29.9 26.1 22.5 41.7
Top 0.1 Percent 32.3 12.4 10.3 21.3
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 29.9 Proposal: 0.0
Note: Elderly tax units are those with either head or spouse (if
filing jointly) age 65 or older.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by divi by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $12,921, 40%
$24,393, 60% $41,924, 80% $67,748, 90% $96,780, 95% $137,143, 99% $359,711,
99.9% $1,730,730.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0185
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20121
Summary Table
Percent of Tax Units3 Percent Share of
Cash Income Change in Total
Level (thousands With Tax With Tax After-Tax Federal Tax
of 2008 dollars)2 Cut Increase Income4 Change
Less than 10 16.7 1.0 0.3 0.1
10-20 54.3 2.3 1.1 0.8
20-30 85.7 1.3 2.6 2.6
30-40 93.9 0.7 3.0 3.1
40-50 97.2 0.3 2.9 3.0
50-75 99.0 0.2 3.2 8.1
75-100 99.5 0.1 3.8 8.7
100-200 99.9 0.1 4.8 24.6
200-500 100.0 0.0 5.2 15.8
500-1,000 99.8 0.1 6.2 7.4
More than 1,000 100.0 0.0 10.4 25.7
All 81.0 0.8 4.9 100.0
[table continued]
Average Average Federal Tax Rate5
Cash Income Federal
Level (thousands Tax Change (% Under the
of 2008 dollars)2 Change ($) Points) Proposal
Less than 10 -18 -0.3 5.1
10-20 -164 -1.0 4.5
20-30 -632 -2.3 8.8
30-40 -972 -2.6 12.7
40-50 -1,180 -2.4 15.6
50-75 -1,744 -2.6 17.6
75-100 -2,821 -3.0 18.9
100-200 -5,305 -3.6 21.2
200-500 -11,621 -3.8 23.8
500-1,000 -32,619 -4.4 24.8
More than 1,000 -225,376 -6.9 27.4
All -3,069 -3.7 20.3
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0185
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20121
Detail Table
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 16.7 1.0 0.3 0.1 -18 -5.5
10-20 54.3 2.3 1.1 0.8 -164 -18.5
20-30 85.7 1.3 2.6 2.6 -632 -21.0
30-40 93.9 0.7 3.0 3.1 -972 -16.8
40-50 97.2 0.3 2.9 3.0 -1,180 -13.4
50-75 99.0 0.2 3.2 8.1 -1,744 -12.8
75-100 99.5 0.1 3.8 8.7 -2,821 -13.6
100-200 99.9 0.1 4.8 24.6 -5,305 -14.5
200-500 100.0 0.0 5.2 15.8 -11,621 -13.6
500-1,000 99.8 0.1 6.2 7.4 -32,619 -15.1
More than 1,000 100.0 0.0 10.4 25.7 -225,376 -20.0
All 81.0 0.8 4.9 100.0 -3,069 -15.4
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.2 -0.3 5.1
10-20 0.0 0.7 -1.0 4.5
20-30 -0.1 1.8 -2.3 8.8
30-40 -0.1 2.8 -2.6 12.7
40-50 0.1 3.5 -2.4 15.6
50-75 0.3 10.0 -2.6 17.6
75-100 0.2 10.0 -3.0 18.9
100-200 0.3 26.5 -3.6 21.2
200-500 0.4 18.2 -3.8 23.8
500-1,000 0.0 7.6 -4.4 24.8
More than 1,000 -1.1 18.7 -6.9 27.4
All 0.0 100.0 -3.7 20.3
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 16,546 10.6 6,019 324 5,695
10-20 24,280 15.6 16,259 888 15,371
20-30 20,001 12.8 27,053 3,005 24,048
30-40 15,128 9.7 37,907 5,803 32,104
40-50 12,063 7.7 48,997 8,836 40,161
50-75 22,213 14.2 67,389 13,588 53,800
75-100 14,729 9.4 94,738 20,706 74,032
100-200 22,218 14.2 148,087 36,658 111,429
200-500 6,499 4.2 309,272 85,289 223,983
500-1,000 1,087 0.7 739,526 215,805 523,721
More than 1,000 546 0.4 3,289,961 1,125,627 2,164,334
All 156,009 100.0 83,049 19,934 63,115
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 5.4 0.8 1.0 0.2
10-20 5.5 3.1 3.8 0.7
20-30 11.1 4.2 4.9 1.9
30-40 15.3 4.4 4.9 2.8
40-50 18.0 4.6 4.9 3.4
50-75 20.2 11.6 12.1 9.7
75-100 21.9 10.8 11.1 9.8
100-200 24.8 25.4 25.1 26.2
200-500 27.6 15.5 14.8 17.8
500-1,000 29.2 6.2 5.8 7.5
More than 1,000 34.2 13.9 12.0 19.8
All 24.0 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model
(version 0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0185
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20121
Detail Table -- Single Tax UnitS
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 16.1 1.0 0.2 0.1 -12 -2.6
10-20 58.0 2.1 1.0 2.2 -148 -10.4
20-30 86.5 0.8 1.9 4.3 -429 -10.7
30-40 96.3 0.3 1.9 3.9 -592 -8.2
40-50 99.0 0.1 1.8 3.8 -706 -6.9
50-75 99.4 0.1 2.7 11.8 -1,387 -8.9
75-100 99.5 0.1 3.7 9.3 -2,570 -10.6
100-200 99.6 0.1 5.3 18.5 -5,474 -13.9
200-500 99.9 0.1 9.1 15.5 -19,925 -21.2
500-1,000 99.7 0.0 11.8 7.9 -59,567 -25.6
More than 1,000 99.9 0.0 16.7 22.5 -337,055 -26.6
All 72.6 0.8 4.3 100.0 -1,539 -14.0
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.1 0.9 -0.2 7.6
10-20 0.1 3.1 -0.9 7.9
20-30 0.2 5.8 -1.6 13.3
30-40 0.5 7.2 -1.6 17.5
40-50 0.6 8.4 -1.4 19.6
50-75 1.1 19.8 -2.1 21.4
75-100 0.5 12.8 -2.8 23.3
100-200 0.0 18.7 -3.8 23.7
200-500 -0.9 9.4 -6.4 23.7
500-1,000 -0.6 3.7 -8.1 23.5
More than 1,000 -1.7 10.1 -10.2 28.3
All 0.0 100.0 -3.3 20.3
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 12,033 17.8 6,036 471 5,565
10-20 15,257 22.5 16,104 1,425 14,678
20-30 10,409 15.4 26,937 4,019 22,917
30-40 6,929 10.2 37,831 7,202 30,629
40-50 5,586 8.2 48,999 10,289 38,711
50-75 8,900 13.1 66,503 15,634 50,869
75-100 3,777 5.6 93,400 24,303 69,097
100-200 3,528 5.2 143,053 39,345 103,708
200-500 811 1.2 313,377 94,106 219,271
500-1,000 138 0.2 737,609 232,628 504,981
More than 1,000 69 0.1 3,290,833 1,267,888 2,022,944
All 67,788 100.0 46,595 10,972 35,623
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 7.8 2.3 2.8 0.8
10-20 8.9 7.8 9.3 2.9
20-30 14.9 8.9 9.9 5.6
30-40 19.0 8.3 8.8 6.7
40-50 21.0 8.7 9.0 7.7
50-75 23.5 18.7 18.8 18.7
75-100 26.0 11.2 10.8 12.3
100-200 27.5 16.0 15.2 18.7
200-500 30.0 8.0 7.4 10.3
500-1,000 31.5 3.2 2.9 4.3
More than 1,000 38.5 7.2 5.8 11.8
All 23.6 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model
(version 0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0185
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20121
Detail Table -- Married Tax Units Filing Jointly
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 28.9 1.3 1.2 0.0 -58 -17.4
10-20 50.5 2.4 1.2 0.2 -191 -30.0
20-30 78.3 2.6 2.9 1.0 -732 -36.1
30-40 87.4 1.6 3.5 1.5 -1,191 -29.1
40-50 93.6 0.8 3.5 1.6 -1,469 -21.7
50-75 98.6 0.3 3.3 5.2 -1,879 -16.2
75-100 99.6 0.1 3.8 8.0 -2,888 -15.3
100-200 99.9 0.1 4.7 28.6 -5,353 -14.8
200-500 100.0 0.0 4.7 17.4 -10,452 -12.4
500-1,000 99.9 0.1 5.4 8.0 -28,627 -13.4
More than 1,000 100.0 0.0 9.5 28.3 -204,480 -18.9
All 91.2 0.6 5.2 100.0 -5,391 -15.5
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.0 -1.1 5.4
10-20 0.0 0.1 -1.1 2.7
20-30 -0.1 0.3 -2.7 4.8
30-40 -0.1 0.7 -3.1 7.7
40-50 -0.1 1.1 -3.0 10.8
50-75 0.0 4.9 -2.7 14.1
75-100 0.0 8.2 -3.0 16.8
100-200 0.3 30.2 -3.6 20.6
200-500 0.8 22.6 -3.4 23.8
500-1,000 0.2 9.4 -3.9 25.0
More than 1,000 -0.9 22.4 -6.3 27.2
All 0.0 100.0 -3.9 21.1
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,059 3.4 5,102 333 4,769
10-20 3,695 6.1 16,805 637 16,168
20-30 4,653 7.6 27,081 2,029 25,052
30-40 4,125 6.8 37,989 4,096 33,893
40-50 3,572 5.9 49,128 6,775 42,353
50-75 9,064 14.9 68,660 11,581 57,079
75-100 9,144 15.0 95,433 18,946 76,487
100-200 17,526 28.8 149,607 36,142 113,465
200-500 5,479 9.0 308,576 84,020 224,556
500-1,000 913 1.5 739,970 213,377 526,592
More than 1,000 455 0.8 3,227,576 1,082,719 2,144,857
All 60,954 100.0 138,787 34,706 104,081
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 6.5 0.1 0.2 0.0
10-20 3.8 0.7 0.9 0.1
20-30 7.5 1.5 1.8 0.5
30-40 10.8 1.9 2.2 0.8
40-50 13.8 2.1 2.4 1.1
50-75 16.9 7.4 8.2 5.0
75-100 19.9 10.3 11.0 8.2
100-200 24.2 31.0 31.3 29.9
200-500 27.2 20.0 19.4 21.8
500-1,000 28.8 8.0 7.6 9.2
More than 1,000 33.6 17.4 15.4 23.3
All 25.0 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0185
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20121
Detail Table -- Head of Household Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 9.2 1.0 0.1 0.1 -10 2.2
10-20 44.0 2.8 1.1 2.5 -183 27.9
20-30 90.7 1.3 3.8 12.4 -982 -63.9
30-40 96.3 0.8 4.4 14.8 -1,446 -29.5
40-50 98.2 0.2 4.4 12.4 -1,777 -21.6
50-75 99.5 0.0 4.1 22.0 -2,179 -16.5
75-100 99.5 0.0 4.2 12.7 -3,054 -14.1
100-200 99.8 0.0 3.8 10.7 -3,970 -11.2
200-500 99.7 0.1 4.0 3.9 -9,167 -11.2
500-1,000 98.9 0.1 5.4 1.9 -28,477 -14.0
More than 1,000 100.0 0.0 10.2 6.6 -214,405 -19.4
All 77.3 1.1 4.0 100.0 -1,482 -19.4
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 -0.2 -0.7 -0.2 -7.1
10-20 -1.0 -2.8 -1.1 -5.1
20-30 -2.1 1.7 -3.6 2.0
30-40 -1.2 8.5 -3.8 9.1
40-50 -0.3 10.8 -3.6 13.3
50-75 0.9 26.7 -3.3 16.6
75-100 1.1 18.5 -3.3 19.7
100-200 1.9 20.4 -2.8 22.5
200-500 0.7 7.5 -3.0 23.5
500-1,000 0.2 2.9 -3.9 24.1
More than 1,000 0.0 6.6 -6.7 27.7
All 0.0 100.0 -3.3 13.7
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,316 9.4 6,761 -471 7,232
10-20 5,047 20.4 16,328 -654 16,983
20-30 4,615 18.7 27,243 1,536 25,707
30-40 3,737 15.1 37,894 4,898 32,996
40-50 2,547 10.3 48,781 8,242 40,539
50-75 3,703 15.0 66,425 13,195 53,230
75-100 1,518 6.1 93,959 21,606 72,354
100-200 988 4.0 139,901 35,495 104,407
200-500 156 0.6 310,610 82,197 228,413
500-1,000 25 0.1 727,675 203,755 523,920
More than 1,000 11 0.1 3,207,147 1,103,185 2,103,962
All 24,714 100.0 45,216 7,655 37,561
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 -7.0 1.4 1.8 -0.6
10-20 -4.0 7.4 9.2 -1.8
20-30 5.6 11.3 12.8 3.8
30-40 12.9 12.7 13.3 9.7
40-50 16.9 11.1 11.1 11.1
50-75 19.9 22.0 21.2 25.8
75-100 23.0 12.8 11.8 17.3
100-200 25.4 12.4 11.1 18.5
200-500 26.5 4.3 3.8 6.8
500-1,000 28.0 1.6 1.4 2.7
More than 1,000 34.4 3.3 2.6 6.6
All 16.9 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model
(version 0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0185
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20121
Detail Table -- Tax Units with Children
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 7.5 1.0 0.4 0.0 -27 4.2
10-20 49.7 2.9 1.4 0.6 -251 20.1
20-30 91.7 1.5 4.6 3.1 -1,197 -111.2
30-40 97.7 0.7 5.3 4.0 -1,758 -38.7
40-50 98.7 0.4 5.1 3.8 -2,086 -26.2
50-75 99.5 0.2 4.7 9.0 -2,579 -20.3
75-100 99.8 0.0 4.9 9.9 -3,670 -18.1
100-200 100.0 0.0 5.4 28.3 -6,033 -16.4
200-500 100.0 0.0 4.4 14.1 -9,742 -11.4
500-1,000 99.8 0.1 5.3 6.2 -27,413 -12.3
More than 1,000 100.0 0.0 9.5 20.9 -200,309 -17.9
All 88.2 0.7 5.4 100.0 -4,321 -17.1
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 -0.2 -0.4 -10.7
10-20 -0.2 -0.8 -1.5 -9.1
20-30 -0.6 -0.1 -4.4 -0.4
30-40 -0.5 1.3 -4.6 7.3
40-50 -0.3 2.2 -4.3 12.0
50-75 -0.3 7.3 -3.8 15.0
75-100 -0.1 9.2 -3.9 17.5
100-200 0.2 29.7 -4.0 20.6
200-500 1.4 22.4 -3.2 24.5
500-1,000 0.5 9.0 -3.7 26.4
More than 1,000 -0.2 19.8 -6.2 28.5
All 0.0 100.0 -4.1 20.0
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,594 5.3 6,371 -657 7,028
10-20 5,296 10.8 16,585 -1,249 17,835
20-30 5,529 11.3 27,153 1,077 26,076
30-40 4,775 9.8 37,955 4,545 33,409
40-50 3,857 7.9 49,028 7,959 41,069
50-75 7,346 15.0 67,754 12,719 55,035
75-100 5,684 11.6 95,395 20,335 75,060
100-200 9,906 20.3 149,292 36,806 112,486
200-500 3,045 6.2 307,399 85,157 222,242
500-1,000 476 1.0 739,676 222,412 517,264
More than 1,000 220 0.5 3,238,329 1,121,453 2,116,876
All 48,864 100.0 105,014 25,317 79,697
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 -10.3 0.3 0.5 -0.1
10-20 -7.5 1.7 2.4 -0.5
20-30 4.0 2.9 3.7 0.5
30-40 12.0 3.5 4.1 1.8
40-50 16.2 3.7 4.1 2.5
50-75 18.8 9.7 10.4 7.6
75-100 21.3 10.6 11.0 9.3
100-200 24.7 28.8 28.6 29.5
200-500 27.7 18.2 17.4 21.0
500-1,000 30.1 6.9 6.3 8.6
More than 1,000 34.6 13.9 12.0 20.0
All 24.1 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model
(version 0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
Note: Tax units with children are those claiming an exemption for
children at home or away from home.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0185
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Level, 20121
Detail Table -- Elderly Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 29.9 0.1 0.4 0.1 -28 -14.6
10-20 37.8 0.2 0.7 0.6 -104 -23.1
20-30 69.7 0.2 1.4 1.3 -350 -23.7
30-40 81.4 0.4 2.1 1.4 -714 -26.4
40-50 89.6 0.3 2.4 1.4 -1,069 -23.8
50-75 98.0 0.0 3.6 6.8 -2,091 -22.1
75-100 99.3 0.1 4.2 7.5 -3,308 -20.8
100-200 99.8 0.0 5.9 20.2 -6,796 -21.7
200-500 100.0 0.0 8.5 19.9 -19,710 -23.4
500-1,000 100.0 0.0 9.6 9.8 -50,399 -23.3
More than 1,000 100.0 0.0 13.6 30.8 -289,024 -25.3
All 73.0 0.2 6.3 100.0 -4,083 -23.3
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.1 -0.4 2.4
10-20 0.0 0.6 -0.6 2.1
20-30 0.0 1.3 -1.3 4.2
30-40 -0.1 1.2 -1.9 5.3
40-50 0.0 1.4 -2.2 7.0
50-75 0.1 7.3 -3.1 10.9
75-100 0.3 8.7 -3.5 13.3
100-200 0.5 22.2 -4.6 16.7
200-500 0.0 19.8 -6.3 20.5
500-1,000 0.0 9.8 -6.8 22.4
More than 1,000 -0.8 27.5 -8.8 26.1
All 0.0 100.0 -4.9 16.2
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,539 8.3 6,784 192 6,592
10-20 6,918 22.7 16,273 449 15,824
20-30 4,634 15.2 26,676 1,476 25,200
30-40 2,493 8.2 37,627 2,707 34,920
40-50 1,658 5.4 49,112 4,487 44,625
50-75 4,080 13.4 67,978 9,474 58,504
75-100 2,843 9.3 94,250 15,872 78,378
100-200 3,711 12.2 147,138 31,350 115,787
200-500 1,258 4.1 315,492 84,316 231,175
500-1,000 243 0.8 740,468 216,394 524,073
More than 1,000 133 0.4 3,269,522 1,140,798 2,128,724
All 30,530 100.0 82,817 17,527 65,289
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 2.8 0.7 0.8 0.1
10-20 2.8 4.5 5.5 0.6
20-30 5.5 4.9 5.9 1.3
30-40 7.2 3.7 4.4 1.3
40-50 9.1 3.2 3.7 1.4
50-75 13.9 11.0 12.0 7.2
75-100 16.8 10.6 11.2 8.4
100-200 21.3 21.6 21.6 21.7
200-500 26.7 15.7 14.6 19.8
500-1,000 29.2 7.1 6.4 9.8
More than 1,000 34.9 17.2 14.2 28.3
All 21.2 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model
(version 0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
Note: Elderly tax units are those with either head or spouse (if
filing jointly) age 65 or older.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0186
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile, 20121
Summary Table
Percent of Tax Units4 Percent Share of
Change in Total
Cash Income With Tax With Tax After-Tax Federal
Percentile2,3 Cut Increase Income5 Tax Change
Lowest Quintile 38.6 1.8 0.9 0.9
Second Quintile 88.9 1.1 2.8 5.5
Middle Quintile 98.1 0.2 3.1 9.4
Fourth Quintile 99.6 0.1 4.1 17.1
Top Quintile 99.9 0.1 6.4 67.0
All 81.0 0.8 4.9 100.0
Addendum
80-90 99.9 0.1 4.8 13.4
90-95 100.0 0.1 4.8 9.1
95-99 99.9 0.0 5.3 13.8
Top 1 Percent 99.9 0.1 9.5 30.8
Top 0.1 Percent 100.0 0.0 11.6 16.7
[table continued]
Average Average Federal Tax Rate6
Federal
Cash Income Tax Change (% Under the
Percentile2,3 Change ($) Points) Proposal
Lowest Quintile -101 -0.8 4.5
Second Quintile -763 -2.5 10.6
Middle Quintile -1,441 -2.5 16.7
Fourth Quintile -3,110 -3.2 19.1
Top Quintile -13,909 -4.6 24.1
All -3,069 -3.7 20.3
Addendum
80-90 -5,478 -3.6 21.4
90-95 -7,692 -3.6 22.5
95-99 -14,395 -3.8 24.3
Top 1 Percent -126,902 -6.4 26.8
Top 0.1 Percent -680,157 -7.4 28.2
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The breaks are (in 2008 dollars): 20%
$19,740, 40% $38,980, 60% $69,490, 80% $117,535, 90% $169,480, 95% $237,040,
99% $619,561, 99.9% $2,832,449.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0186
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile, 20121
Detail Table
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 38.6 1.8 0.9 0.9 -101 -15.7
Second Quintile 88.9 1.1 2.8 5.5 -763 -18.7
Middle Quintile 98.1 0.2 3.1 9.4 -1,441 -13.0
Fourth Quintile 99.6 0.1 4.1 17.1 -3,110 -14.2
Top Quintile 99.9 0.1 6.4 67.0 -13,909 -15.9
All 81.0 0.8 4.9 100.0 -3,069 -15.4
Addendum
80-90 99.9 0.1 4.8 13.4 -5,478 -14.4
90-95 100.0 0.1 4.8 9.1 -7,692 -13.7
95-99 99.9 0.0 5.3 13.8 -14,395 -13.6
Top 1 Percent 99.9 0.1 9.5 30.8 -126,902 -19.2
Top 0.1 Percent 100.0 0.0 11.6 16.7 -680,157 -20.9
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.8 -0.8 4.5
Second Quintile -0.2 4.3 -2.5 10.6
Middle Quintile 0.3 11.5 -2.5 16.7
Fourth Quintile 0.3 18.8 -3.2 19.1
Top Quintile -0.4 64.4 -4.6 24.1
All 0.0 100.0 -3.7 20.3
Addendum
80-90 0.2 14.4 -3.6 21.4
90-95 0.2 10.4 -3.6 22.5
95-99 0.3 16.0 -3.8 24.3
Top 1 Percent -1.1 23.6 -6.4 26.8
Top 0.1 Percent -0.8 11.6 -7.4 28.2
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 40,338 25.9 11,993 645 11,348
Second Quintile 34,253 22.0 31,130 4,068 27,062
Middle Quintile 31,371 20.1 57,716 11,099 46,616
Fourth Quintile 26,273 16.8 98,626 21,948 76,679
Top Quintile 23,076 14.8 305,124 87,367 217,757
All 156,009 100.0 83,049 19,934 63,115
Addendum
80-90 11,675 7.5 152,072 38,030 114,042
90-95 5,645 3.6 215,559 56,250 159,309
95-99 4,594 2.9 377,269 106,112 271,158
Top 1 Percent 1,162 0.7 1,992,972 660,194 1,332,778
Top 0.1 Percent 118 0.1 9,136,646 3,259,532 5,877,114
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 5.4 3.7 4.7 0.8
Second Quintile 13.1 8.2 9.4 4.5
Middle Quintile 19.2 14.0 14.9 11.2
Fourth Quintile 22.3 20.0 20.5 18.5
Top Quintile 28.6 54.3 51.0 64.8
All 24.0 100.0 100.0 100.0
Addendum
80-90 25.0 13.7 13.5 14.3
90-95 26.1 9.4 9.1 10.2
95-99 28.1 13.4 12.7 15.7
Top 1 Percent 33.1 17.9 15.7 24.7
Top 0.1 Percent 35.7 8.3 7.0 12.4
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The breaks are (in 2008 dollars): 20%
$19,740, 40% $38,980, 60% $69,490, 80% $117,535, 90% $169,480, 95% $237,040,
99% $619,561, 99.9% $2,832,449.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax net of
refundable credits; corporate income tax; payroll taxes (Social Security and
Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0186
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20121
Detail Table
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 35.3 1.7 1.4 1.1 -151 -52.0
Second Quintile 80.9 1.6 3.3 5.5 -819 -25.4
Middle Quintile 96.1 0.3 3.3 8.9 -1,399 -15.2
Fourth Quintile 99.5 0.1 3.7 15.6 -2,522 -13.4
Top Quintile 99.8 0.1 6.1 68.8 -11,185 -15.3
All 81.0 0.8 4.9 100.0 -3,069 -15.4
Addendum
80-90 99.7 0.1 4.1 12.4 -4,009 -12.4
90-95 99.7 0.1 4.4 9.3 -6,005 -12.5
95-99 99.9 0.0 5.2 14.6 -12,081 -13.4
Top 1 Percent 99.8 0.1 9.6 32.4 -110,666 -19.4
Top 0.1 Percent 100.0 0.0 11.6 17.6 -602,250 -21.1
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -0.1 0.2 -1.3 1.2
Second Quintile -0.4 3.0 -2.9 8.5
Middle Quintile 0.0 9.1 -2.7 15.3
Fourth Quintile 0.4 18.3 -2.9 18.8
Top Quintile 0.1 69.4 -4.3 24.1
All 0.0 100.0 -3.7 20.3
Addendum
80-90 0.5 15.9 -3.1 21.7
90-95 0.4 11.8 -3.3 22.8
95-99 0.4 17.2 -3.7 24.2
Top 1 Percent -1.2 24.5 -6.4 26.6
Top 0.1 Percent -0.9 12.0 -7.5 28.0
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 33,519 21.5 11,234 290 10,943
Second Quintile 32,264 20.7 28,140 3,223 24,917
Middle Quintile 30,508 19.6 51,184 9,221 41,963
Fourth Quintile 29,582 19.0 86,263 18,758 67,506
Top Quintile 29,439 18.9 257,999 73,249 184,750
All 156,009 100.0 83,049 19,934 63,115
Addendum
80-90 14,815 9.5 130,199 32,227 97,972
90-95 7,431 4.8 183,801 47,931 135,870
95-99 5,789 3.7 323,569 90,285 233,285
Top 1 Percent 1,403 0.9 1,729,454 570,047 1,159,407
Top 0.1 Percent 140 0.1 8,053,010 2,856,235 5,196,775
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 2.6 2.9 3.7 0.3
Second Quintile 11.5 7.0 8.2 3.3
Middle Quintile 18.0 12.1 13.0 9.1
Fourth Quintile 21.7 19.7 20.3 17.8
Top Quintile 28.4 58.6 55.2 69.3
All 24.0 100.0 100.0 100.0
Addendum
80-90 24.8 14.9 14.7 15.4
90-95 26.1 10.5 10.3 11.5
95-99 27.9 14.5 13.7 16.8
Top 1 Percent 33.0 18.7 16.5 25.7
Top 0.1 Percent 35.5 8.7 7.4 12.8
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0186
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20121
Detail Table -- Single Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 28.5 1.3 0.5 0.7 -39 -6.6
Second Quintile 72.0 1.7 1.6 4.5 -302 -11.8
Middle Quintile 95.3 0.3 1.9 7.3 -573 -8.0
Fourth Quintile 99.4 0.1 2.4 12.3 -1,158 -8.2
Top Quintile 99.5 0.1 7.4 75.0 -8,732 -17.8
All 72.6 0.8 4.3 100.0 -1,539 -14.0
Addendum
80-90 99.5 0.1 3.7 11.7 -2,556 -10.5
90-95 99.4 0.1 4.8 9.9 -4,597 -12.9
95-99 99.9 0.1 7.6 18.8 -12,170 -18.8
Top 1 Percent 99.7 0.0 14.3 34.6 -105,709 -25.8
Top 0.1 Percent 100.0 0.0 17.2 17.3 -602,989 -26.5
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.1 1.6 -0.5 6.5
Second Quintile 0.1 5.5 -1.4 10.6
Middle Quintile 0.9 13.7 -1.5 17.5
Fourth Quintile 1.4 22.6 -1.9 21.0
Top Quintile -2.6 56.5 -5.3 24.3
All 0.0 100.0 -3.3 20.3
Addendum
80-90 0.6 16.2 -2.8 23.4
90-95 0.2 10.9 -3.5 23.8
95-99 -0.8 13.2 -5.4 23.4
Top 1 Percent -2.6 16.2 -9.2 26.4
Top 0.1 Percent -1.3 7.8 -10.4 28.9
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 18,528 27.3 8,584 597 7,987
Second Quintile 15,492 22.9 21,338 2,557 18,781
Middle Quintile 13,373 19.7 37,507 7,140 30,367
Fourth Quintile 11,093 16.4 61,944 14,173 47,770
Top Quintile 8,952 13.2 166,465 49,099 117,366
All 67,788 100.0 46,595 10,972 35,623
Addendum
80-90 4,758 7.0 92,893 24,273 68,620
90-95 2,242 3.3 131,093 35,737 95,355
95-99 1,611 2.4 224,327 64,676 159,652
Top 1 Percent 341 0.5 1,150,729 409,206 741,523
Top 0.1 Percent 30 0.0 5,787,688 2,274,691 3,512,997
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 7.0 5.0 6.1 1.5
Second Quintile 12.0 10.5 12.1 5.3
Middle Quintile 19.0 15.9 16.8 12.8
Fourth Quintile 22.9 21.8 21.9 21.1
Top Quintile 29.5 47.2 43.5 59.1
All 23.6 100.0 100.0 100.0
Addendum
80-90 26.1 14.0 13.5 15.5
90-95 27.3 9.3 8.9 10.8
95-99 28.8 11.4 10.7 14.0
Top 1 Percent 35.6 12.4 10.5 18.8
Top 0.1 Percent 39.3 5.5 4.4 9.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax net of
refundable credits; corporate income tax; payroll taxes (Social Security and
Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0186
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20121
Detail Table -- Married Tax Units Filing Jointly
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 49.4 2.2 2.6 0.8 -374 -67.7
Second Quintile 85.6 1.7 3.9 3.4 -1,253 -30.2
Middle Quintile 95.7 0.5 3.9 7.3 -2,161 -19.2
Fourth Quintile 99.7 0.1 4.3 16.4 -3,553 -16.0
Top Quintile 99.9 0.1 5.7 72.0 -12,585 -14.7
All 91.2 0.6 5.2 100.0 -5,391 -15.5
Addendum
80-90 99.9 0.1 4.3 13.4 -4,896 -13.3
90-95 99.9 0.0 4.3 10.0 -6,754 -12.5
95-99 100.0 0.0 4.6 14.7 -12,266 -12.1
Top 1 Percent 99.9 0.1 8.6 33.9 -111,268 -18.0
Top 0.1 Percent 100.0 0.0 10.7 18.5 -597,593 -20.0
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -0.1 0.1 -2.5 1.2
Second Quintile -0.3 1.4 -3.5 8.1
Middle Quintile -0.3 5.7 -3.3 13.8
Fourth Quintile -0.1 15.8 -3.4 17.7
Top Quintile 0.8 76.9 -4.1 24.0
All 0.0 100.0 -3.9 21.1
Addendum
80-90 0.4 16.0 -3.2 21.0
90-95 0.4 12.9 -3.2 22.5
95-99 0.8 19.6 -3.3 24.4
Top 1 Percent -0.9 28.4 -5.8 26.6
Top 0.1 Percent -0.8 13.6 -7.0 27.8
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 6,761 11.1 14,790 553 14,237
Second Quintile 8,813 14.5 36,067 4,155 31,911
Middle Quintile 11,162 18.3 66,221 11,270 54,951
Fourth Quintile 15,151 24.9 105,103 22,172 82,932
Top Quintile 18,797 30.8 305,001 85,702 219,299
All 60,954 100.0 138,787 34,706 104,081
Addendum
80-90 8,999 14.8 151,491 36,732 114,759
90-95 4,873 8.0 209,583 53,893 155,690
95-99 3,924 6.4 367,042 101,730 265,312
Top 1 Percent 1,002 1.6 1,904,894 617,468 1,287,426
Top 0.1 Percent 101 0.2 8,600,122 2,989,009 5,611,112
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 3.7 1.2 1.5 0.2
Second Quintile 11.5 3.8 4.4 1.7
Middle Quintile 17.0 8.7 9.7 6.0
Fourth Quintile 21.1 18.8 19.8 15.9
Top Quintile 28.1 67.8 65.0 76.2
All 25.0 100.0 100.0 100.0
Addendum
80-90 24.3 16.1 16.3 15.6
90-95 25.7 12.1 12.0 12.4
95-99 27.7 17.0 16.4 18.9
Top 1 Percent 32.4 22.6 20.3 29.2
Top 0.1 Percent 34.8 10.3 9.0 14.3
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0186
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20121
Detail Table -- Head of Household Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 38.5 2.1 1.5 4.8 -222 32.7
Second Quintile 92.5 1.1 4.6 28.2 -1,367 -40.0
Middle Quintile 98.3 0.2 4.2 27.2 -1,894 -18.7
Fourth Quintile 99.4 0.0 3.8 18.2 -2,471 -13.0
Top Quintile 99.6 0.0 4.6 21.6 -6,590 -12.3
All 77.3 1.1 4.0 100.0 -1,482 -19.4
Addendum
80-90 99.8 0.0 3.4 6.6 -3,123 -10.0
90-95 99.1 0.0 3.5 2.7 -4,406 -10.0
95-99 99.6 0.1 3.9 3.9 -8,594 -10.9
Top 1 Percent 99.8 0.1 8.7 8.3 -90,639 -18.0
Top 0.1 Percent 99.9 0.0 10.9 4.4 -553,411 -20.1
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -1.8 -4.7 -1.5 -6.2
Second Quintile -3.5 10.2 -4.1 6.2
Middle Quintile 0.2 28.3 -3.4 14.9
Fourth Quintile 2.1 29.2 -2.9 19.5
Top Quintile 3.0 36.9 -3.3 23.8
All 0.0 100.0 -3.3 13.7
Addendum
80-90 1.5 14.3 -2.5 22.6
90-95 0.6 5.8 -2.6 23.5
95-99 0.7 7.7 -2.9 23.4
Top 1 Percent 0.2 9.2 -5.9 26.7
Top 0.1 Percent 0.0 4.2 -7.1 28.2
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 7,961 32.2 14,430 -679 15,109
Second Quintile 7,556 30.6 32,988 3,417 29,571
Middle Quintile 5,252 21.3 55,112 10,118 44,994
Fourth Quintile 2,696 10.9 84,953 19,012 65,940
Top Quintile 1,198 4.9 197,502 53,637 143,864
All 24,714 100.0 45,216 7,655 37,561
Addendum
80-90 774 3.1 124,547 31,285 93,262
90-95 222 0.9 169,438 44,182 125,256
95-99 168 0.7 299,897 78,727 221,171
Top 1 Percent 34 0.1 1,548,845 504,591 1,044,254
Top 0.1 Percent 3 0.0 7,820,896 2,760,631 5,060,265
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile -4.7 10.3 13.0 -2.9
Second Quintile 10.4 22.3 24.1 13.7
Middle Quintile 18.4 25.9 25.5 28.1
Fourth Quintile 22.4 20.5 19.2 27.1
Top Quintile 27.2 21.2 18.6 34.0
All 16.9 100.0 100.0 100.0
Addendum
80-90 25.1 8.6 7.8 12.8
90-95 26.1 3.4 3.0 5.2
95-99 26.3 4.5 4.0 7.0
Top 1 Percent 32.6 4.7 3.8 9.0
Top 0.1 Percent 35.3 2.0 1.6 4.2
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0186
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20121
Detail Table -- Tax Units with Children
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 46.3 2.2 2.4 1.9 -406 48.2
Second Quintile 96.6 0.9 5.4 8.8 -1,809 -43.0
Middle Quintile 99.4 0.1 5.0 13.8 -2,755 -21.4
Fourth Quintile 99.9 0.0 5.4 21.7 -4,714 -18.0
Top Quintile 100.0 0.0 5.8 53.6 -13,756 -14.0
All 88.2 0.7 5.4 100.0 -4,321 -17.1
Addendum
80-90 100.0 0.0 4.7 12.3 -6,027 -13.6
90-95 100.0 0.0 4.6 7.6 -8,201 -12.5
95-99 99.9 0.0 4.3 9.9 -13,166 -10.5
Top 1 Percent 99.9 0.1 8.9 23.9 -132,308 -17.3
Top 0.1 Percent 100.0 0.0 10.5 12.4 -716,791 -19.1
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -0.5 -1.2 -2.6 -7.9
Second Quintile -1.1 2.4 -4.8 6.4
Middle Quintile -0.6 10.5 -4.0 14.9
Fourth Quintile -0.2 20.4 -4.1 18.9
Top Quintile 2.4 67.9 -4.1 25.1
All 0.0 100.0 -4.1 20.0
Addendum
80-90 0.6 16.1 -3.5 22.1
90-95 0.6 11.0 -3.3 23.4
95-99 1.3 17.3 -3.0 25.8
Top 1 Percent -0.1 23.5 -5.9 28.1
Top 0.1 Percent -0.3 10.8 -6.8 28.8
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 9,871 20.2 15,772 -842 16,614
Second Quintile 10,311 21.1 37,449 4,209 33,240
Middle Quintile 10,593 21.7 68,197 12,879 55,318
Fourth Quintile 9,721 19.9 113,901 26,216 87,684
Top Quintile 8,230 16.8 336,992 98,354 238,639
All 48,864 100.0 105,014 25,317 79,697
Addendum
80-90 4,312 8.8 173,044 44,246 128,798
90-95 1,958 4.0 245,817 65,819 179,998
95-99 1,579 3.2 435,654 125,648 310,005
Top 1 Percent 381 0.8 2,253,531 765,288 1,488,244
Top 0.1 Percent 37 0.1 10,557,678 3,752,988 6,804,690
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile -5.3 3.0 4.2 -0.7
Second Quintile 11.2 7.5 8.8 3.5
Middle Quintile 18.9 14.1 15.1 11.0
Fourth Quintile 23.0 21.6 21.9 20.6
Top Quintile 29.2 54.1 50.4 65.4
All 24.1 100.0 100.0 100.0
Addendum
80-90 25.6 14.5 14.3 15.4
90-95 26.8 9.4 9.1 10.4
95-99 28.8 13.4 12.6 16.0
Top 1 Percent 34.0 16.7 14.6 23.6
Top 0.1 Percent 35.6 7.5 6.4 11.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
Note: Tax units with children are those claiming an exemption for children at
home or away from home.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by divi by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0186
Senator McCain's Tax Proposals as Described by his Economic Advisors
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20121
Detail Table -- Elderly Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 30.2 0.2 0.5 0.3 -59 -21.7
Second Quintile 59.0 0.2 1.2 1.8 -271 -23.8
Middle Quintile 86.8 0.2 2.1 3.3 -856 -23.0
Fourth Quintile 99.0 0.1 3.4 10.1 -2,286 -19.4
Top Quintile 99.8 0.0 9.0 84.4 -17,440 -23.9
All 73.0 0.2 6.3 100.0 -4,083 -23.3
Addendum
80-90 99.8 0.0 5.4 11.1 -5,095 -21.3
90-95 99.5 0.0 6.5 10.3 -8,371 -21.9
95-99 100.0 0.0 8.5 20.5 -18,417 -23.4
Top 1 Percent 100.0 0.0 12.8 42.5 -131,701 -25.4
Top 0.1 Percent 100.0 0.0 14.8 21.9 -668,896 -25.9
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.3 -0.5 1.9
Second Quintile 0.0 1.7 -1.1 3.6
Middle Quintile 0.0 3.3 -1.9 6.3
Fourth Quintile 0.6 12.8 -2.9 12.0
Top Quintile -0.6 81.8 -6.5 20.8
All 0.0 100.0 -4.9 16.2
Addendum
80-90 0.3 12.4 -4.3 15.8
90-95 0.2 11.1 -5.0 17.8
95-99 0.0 20.4 -6.2 20.3
Top 1 Percent -1.1 37.9 -8.5 25.0
Top 0.1 Percent -0.7 19.1 -9.4 27.0
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 5,982 19.6 11,174 271 10,904
Second Quintile 8,200 26.9 23,916 1,141 22,775
Middle Quintile 4,773 15.6 45,520 3,726 41,794
Fourth Quintile 5,522 18.1 79,079 11,760 67,319
Top Quintile 6,034 19.8 267,452 73,098 194,353
All 30,530 100.0 82,817 17,527 65,289
Addendum
80-90 2,713 8.9 118,899 23,874 95,025
90-95 1,529 5.0 168,044 38,204 129,839
95-99 1,389 4.6 295,666 78,566 217,100
Top 1 Percent 403 1.3 1,548,708 518,468 1,030,241
Top 0.1 Percent 41 0.1 7,103,107 2,586,974 4,516,133
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 2.4 2.6 3.3 0.3
Second Quintile 4.8 7.8 9.4 1.8
Middle Quintile 8.2 8.6 10.0 3.3
Fourth Quintile 14.9 17.3 18.7 12.1
Top Quintile 27.3 63.8 58.8 82.4
All 21.2 100.0 100.0 100.0
Addendum
80-90 20.1 12.8 12.9 12.1
90-95 22.7 10.2 10.0 10.9
95-99 26.6 16.3 15.1 20.4
Top 1 Percent 33.5 24.7 20.8 39.0
Top 0.1 Percent 36.4 11.5 9.2 19.7
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 7.2
Note: Elderly tax units are those with either head or spouse (if filing
jointly) age 65 or older.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by divi by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0187
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20121
Summary Table
Percent of Tax Units3 Percent Share of
Cash Income Change in Total
Level (thousands With Tax With Tax After-Tax Federal Tax
of 2008 dollars)2 Cut Increase Income4 Change
Less than 10 17.6 1.0 0.4 0.1
10-20 54.7 2.2 1.6 0.9
20-30 85.9 1.3 3.2 2.3
30-40 94.0 0.7 3.6 2.6
40-50 97.3 0.3 3.4 2.5
50-75 99.1 0.2 4.2 7.5
75-100 99.6 0.1 4.5 7.4
100-200 99.9 0.1 5.9 21.9
200-500 100.0 0.0 8.1 17.9
500-1,000 100.0 0.0 10.5 9.1
More than 1,000 100.0 0.0 15.5 27.7
All 81.2 0.8 6.7 100.0
[table continued]
Average Average Federal Tax Rate5
Cash Income Federal
Level (thousands Tax Change (% Under the
of 2008 dollars)2 Change ($) Points) Proposal
Less than 10 -22 -0.4 5.0
10-20 -245 -1.5 4.0
20-30 -770 -2.9 8.3
30-40 -1,149 -3.0 12.3
40-50 -1,374 -2.8 15.2
50-75 -2,232 -3.3 16.9
75-100 -3,327 -3.5 18.3
100-200 -6,523 -4.4 20.4
200-500 -18,206 -5.9 21.7
500-1,000 -55,128 -7.5 21.7
More than 1,000 -335,792 -10.2 24.0
All -4,241 -5.1 18.9
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0187
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20121
Detail Table
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 17.6 1.0 0.4 0.1 -22 -6.8
10-20 54.7 2.2 1.6 0.9 -245 -27.6
20-30 85.9 1.3 3.2 2.3 -770 -25.6
30-40 94.0 0.7 3.6 2.6 -1,149 -19.8
40-50 97.3 0.3 3.4 2.5 -1,374 -15.6
50-75 99.1 0.2 4.2 7.5 -2,232 -16.4
75-100 99.6 0.1 4.5 7.4 -3,327 -16.1
100-200 99.9 0.1 5.9 21.9 -6,523 -17.8
200-500 100.0 0.0 8.1 17.9 -18,206 -21.4
500-1,000 100.0 0.0 10.5 9.1 -55,128 -25.6
More than 1,000 100.0 0.0 15.5 27.7 -335,792 -29.8
All 81.2 0.8 6.7 100.0 -4,241 -21.3
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.2 -0.4 5.0
10-20 -0.1 0.6 -1.5 4.0
20-30 -0.1 1.8 -2.9 8.3
30-40 0.1 2.9 -3.0 12.3
40-50 0.3 3.7 -2.8 15.2
50-75 0.6 10.3 -3.3 16.9
75-100 0.7 10.5 -3.5 18.3
100-200 1.2 27.4 -4.4 20.4
200-500 0.0 17.8 -5.9 21.7
500-1,000 -0.4 7.1 -7.5 21.7
More than 1,000 -2.2 17.6 -10.2 24.0
All 0.0 100.0 -5.1 18.9
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 16,546 10.6 6,019 324 5,695
10-20 24,280 15.6 16,259 888 15,371
20-30 20,001 12.8 27,053 3,005 24,048
30-40 15,128 9.7 37,907 5,803 32,104
40-50 12,063 7.7 48,997 8,836 40,161
50-75 22,213 14.2 67,389 13,588 53,800
75-100 14,729 9.4 94,738 20,706 74,032
100-200 22,218 14.2 148,087 36,658 111,429
200-500 6,499 4.2 309,272 85,289 223,983
500-1,000 1,087 0.7 739,526 215,805 523,721
More than 1,000 546 0.4 3,289,961 1,125,627 2,164,334
All 156,009 100.0 83,049 19,934 63,115
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 5.4 0.8 1.0 0.2
10-20 5.5 3.1 3.8 0.7
20-30 11.1 4.2 4.9 1.9
30-40 15.3 4.4 4.9 2.8
40-50 18.0 4.6 4.9 3.4
50-75 20.2 11.6 12.1 9.7
75-100 21.9 10.8 11.1 9.8
100-200 24.8 25.4 25.1 26.2
200-500 27.6 15.5 14.8 17.8
500-1,000 29.2 6.2 5.8 7.5
More than 1,000 34.2 13.9 12.0 19.8
All 24.0 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0187
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20121
Detail Table -- Single Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 17.0 0.9 0.3 0.1 -16 -3.4
10-20 58.4 2.0 1.8 2.9 -268 -18.8
20-30 86.6 0.8 2.6 4.4 -599 -14.9
30-40 96.4 0.2 2.6 3.8 -780 -10.8
40-50 99.0 0.1 2.4 3.6 -909 -8.8
50-75 99.4 0.1 4.4 14.1 -2,229 -14.3
75-100 99.5 0.1 5.3 9.8 -3,673 -15.1
100-200 99.6 0.1 6.4 16.5 -6,582 -16.7
200-500 99.9 0.1 12.0 15.1 -26,216 -27.9
500-1,000 100.0 0.0 15.5 7.7 -78,155 -33.6
More than 1,000 100.0 0.0 21.9 21.8 -442,074 -34.9
All 72.9 0.8 5.8 100.0 -2,079 -19.0
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.2 0.9 -0.3 7.5
10-20 0.0 2.9 -1.7 7.2
20-30 0.3 5.9 -2.2 12.7
30-40 0.7 7.4 -2.1 17.0
40-50 1.0 8.7 -1.9 19.1
50-75 1.1 19.8 -3.4 20.2
75-100 0.6 12.9 -3.9 22.1
100-200 0.5 19.2 -4.6 22.9
200-500 -1.1 9.1 -8.4 21.7
500-1,000 -0.8 3.5 -10.6 20.9
More than 1,000 -2.3 9.5 -13.4 25.1
All 0.0 100.0 -4.5 19.1
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 12,033 17.8 6,036 471 5,565
10-20 15,257 22.5 16,104 1,425 14,678
20-30 10,409 15.4 26,937 4,019 22,917
30-40 6,929 10.2 37,831 7,202 30,629
40-50 5,586 8.2 48,999 10,289 38,711
50-75 8,900 13.1 66,503 15,634 50,869
75-100 3,777 5.6 93,400 24,303 69,097
100-200 3,528 5.2 143,053 39,345 103,708
200-500 811 1.2 313,377 94,106 219,271
500-1,000 138 0.2 737,609 232,628 504,981
More than 1,000 69 0.1 3,290,833 1,267,888 2,022,944
All 67,788 100.0 46,595 10,972 35,623
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 7.8 2.3 2.8 0.8
10-20 8.9 7.8 9.3 2.9
20-30 14.9 8.9 9.9 5.6
30-40 19.0 8.3 8.8 6.7
40-50 21.0 8.7 9.0 7.7
50-75 23.5 18.7 18.8 18.7
75-100 26.0 11.2 10.8 12.3
100-200 27.5 16.0 15.2 18.7
200-500 30.0 8.0 7.4 10.3
500-1,000 31.5 3.2 2.9 4.3
More than 1,000 38.5 7.2 5.8 11.8
All 23.6 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0187
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20121
Detail Table -- Married Tax Units Filing Jointly
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 29.2 1.3 1.4 0.0 -68 -20.4
10-20 50.7 2.4 1.3 0.2 -206 -32.4
20-30 78.6 2.4 3.5 0.9 -886 -43.7
30-40 87.6 1.5 4.2 1.3 -1,411 -34.5
40-50 93.9 0.8 3.9 1.3 -1,667 -24.6
50-75 98.7 0.2 3.7 4.1 -2,113 -18.2
75-100 99.6 0.1 4.1 6.2 -3,149 -16.6
100-200 99.9 0.1 5.8 24.9 -6,577 -18.2
200-500 100.0 0.0 7.6 20.1 -16,973 -20.2
500-1,000 100.0 0.0 9.8 10.2 -51,721 -24.2
More than 1,000 100.0 0.0 14.6 30.8 -313,159 -28.9
All 91.3 0.6 7.3 100.0 -7,601 -21.9
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.0 -1.3 5.2
10-20 0.0 0.1 -1.2 2.6
20-30 -0.1 0.3 -3.3 4.2
30-40 -0.1 0.7 -3.7 7.1
40-50 0.0 1.1 -3.4 10.4
50-75 0.2 5.2 -3.1 13.8
75-100 0.6 8.7 -3.3 16.6
100-200 1.4 31.4 -4.4 19.8
200-500 0.5 22.2 -5.5 21.7
500-1,000 -0.3 8.9 -7.0 21.9
More than 1,000 -2.1 21.2 -9.7 23.8
All 0.0 100.0 -5.5 19.5
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,059 3.4 5,102 333 4,769
10-20 3,695 6.1 16,805 637 16,168
20-30 4,653 7.6 27,081 2,029 25,052
30-40 4,125 6.8 37,989 4,096 33,893
40-50 3,572 5.9 49,128 6,775 42,353
50-75 9,064 14.9 68,660 11,581 57,079
75-100 9,144 15.0 95,433 18,946 76,487
100-200 17,526 28.8 149,607 36,142 113,465
200-500 5,479 9.0 308,576 84,020 224,556
500-1,000 913 1.5 739,970 213,377 526,592
More than 1,000 455 0.8 3,227,576 1,082,719 2,144,857
All 60,954 100.0 138,787 34,706 104,081
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 6.5 0.1 0.2 0.0
10-20 3.8 0.7 0.9 0.1
20-30 7.5 1.5 1.8 0.5
30-40 10.8 1.9 2.2 0.8
40-50 13.8 2.1 2.4 1.1
50-75 16.9 7.4 8.2 5.0
75-100 19.9 10.3 11.0 8.2
100-200 24.2 31.0 31.3 29.9
200-500 27.2 20.0 19.4 21.8
500-1,000 28.8 8.0 7.6 9.2
More than 1,000 33.6 17.4 15.4 23.3
All 25.0 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0187
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20121
Detail Table -- Head of Household Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 9.9 1.0 0.2 0.1 -11 2.4
10-20 44.2 2.8 1.1 2.2 -186 28.5
20-30 90.7 1.3 4.0 10.9 -1,030 -67.0
30-40 96.3 0.8 4.7 13.4 -1,556 -31.8
40-50 98.1 0.2 4.8 11.4 -1,949 -23.7
50-75 99.6 0.0 4.5 20.4 -2,398 -18.2
75-100 99.5 0.0 4.8 12.1 -3,469 -16.1
100-200 99.8 0.0 5.0 11.9 -5,222 -14.7
200-500 100.0 0.0 7.7 6.3 -17,605 -21.4
500-1,000 99.3 0.0 9.2 2.8 -47,992 -23.6
More than 1,000 100.0 0.0 15.5 8.5 -325,464 -29.5
All 77.5 1.1 4.7 100.0 -1,758 -23.0
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 -0.2 -0.8 -0.2 -7.1
10-20 -1.2 -2.9 -1.1 -5.2
20-30 -2.1 1.6 -3.8 1.9
30-40 -1.1 8.6 -4.1 8.8
40-50 -0.1 11.0 -4.0 12.9
50-75 1.6 27.4 -3.6 16.3
75-100 1.6 18.9 -3.7 19.3
100-200 2.0 20.5 -3.7 21.6
200-500 0.1 6.9 -5.7 20.8
500-1,000 0.0 2.7 -6.6 21.4
More than 1,000 -0.6 6.0 -10.2 24.3
All 0.0 100.0 -3.9 13.0
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,316 9.4 6,761 -471 7,232
10-20 5,047 20.4 16,328 -654 16,983
20-30 4,615 18.7 27,243 1,536 25,707
30-40 3,737 15.1 37,894 4,898 32,996
40-50 2,547 10.3 48,781 8,242 40,539
50-75 3,703 15.0 66,425 13,195 53,230
75-100 1,518 6.1 93,959 21,606 72,354
100-200 988 4.0 139,901 35,495 104,407
200-500 156 0.6 310,610 82,197 228,413
500-1,000 25 0.1 727,675 203,755 523,920
More than 1,000 11 0.1 3,207,147 1,103,185 2,103,962
All 24,714 100.0 45,216 7,655 37,561
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 -7.0 1.4 1.8 -0.6
10-20 -4.0 7.4 9.2 -1.8
20-30 5.6 11.3 12.8 3.8
30-40 12.9 12.7 13.3 9.7
40-50 16.9 11.1 11.1 11.1
50-75 19.9 22.0 21.2 25.8
75-100 23.0 12.8 11.8 17.3
100-200 25.4 12.4 11.1 18.5
200-500 26.5 4.3 3.8 6.8
500-1,000 28.0 1.6 1.4 2.7
More than 1,000 34.4 3.3 2.6 6.6
All 16.9 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0187
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20121
Detail Table -- Tax Units with Children
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 7.9 1.0 0.4 0.0 -30 4.6
10-20 49.7 2.9 1.4 0.5 -254 20.3
20-30 91.7 1.5 4.7 2.4 -1,236 -114.8
30-40 97.8 0.6 5.6 3.1 -1,861 -41.0
40-50 98.7 0.4 5.5 3.0 -2,256 -28.3
50-75 99.6 0.1 5.2 7.3 -2,838 -22.3
75-100 99.8 0.0 5.4 8.0 -4,023 -19.8
100-200 100.0 0.0 6.3 24.3 -7,039 -19.1
200-500 100.0 0.0 7.8 18.4 -17,376 -20.4
500-1,000 100.0 0.0 10.1 8.6 -51,993 -23.4
More than 1,000 100.0 0.0 15.0 24.4 -318,200 -28.4
All 88.2 0.7 7.4 100.0 -5,881 -23.2
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 -0.1 -0.2 -0.5 -10.8
10-20 -0.3 -0.8 -1.5 -9.1
20-30 -0.6 -0.1 -4.6 -0.6
30-40 -0.4 1.4 -4.9 7.1
40-50 -0.2 2.3 -4.6 11.6
50-75 0.1 7.6 -4.2 14.6
75-100 0.4 9.8 -4.2 17.1
100-200 1.6 31.1 -4.7 19.9
200-500 0.8 21.7 -5.7 22.1
500-1,000 0.0 8.5 -7.0 23.0
More than 1,000 -1.3 18.6 -9.8 24.8
All 0.0 100.0 -5.6 18.5
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,594 5.3 6,371 -657 7,028
10-20 5,296 10.8 16,585 -1,249 17,835
20-30 5,529 11.3 27,153 1,077 26,076
30-40 4,775 9.8 37,955 4,545 33,409
40-50 3,857 7.9 49,028 7,959 41,069
50-75 7,346 15.0 67,754 12,719 55,035
75-100 5,684 11.6 95,395 20,335 75,060
100-200 9,906 20.3 149,292 36,806 112,486
200-500 3,045 6.2 307,399 85,157 222,242
500-1,000 476 1.0 739,676 222,412 517,264
More than 1,000 220 0.5 3,238,329 1,121,453 2,116,876
All 48,864 100.0 105,014 25,317 79,697
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 -10.3 0.3 0.5 -0.1
10-20 -7.5 1.7 2.4 -0.5
20-30 4.0 2.9 3.7 0.5
30-40 12.0 3.5 4.1 1.8
40-50 16.2 3.7 4.1 2.5
50-75 18.8 9.7 10.4 7.6
75-100 21.3 10.6 11.0 9.3
100-200 24.7 28.8 28.6 29.5
200-500 27.7 18.2 17.4 21.0
500-1,000 30.1 6.9 6.3 8.6
More than 1,000 34.6 13.9 12.0 20.0
All 24.1 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
Note: Tax units with children are those claiming an exemption for children at
home or away from home.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0187
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Level, 20121
Detail Table -- Elderly Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 30.6 0.1 0.6 0.1 -36 -18.8
10-20 38.5 0.2 0.9 0.6 -140 -31.1
20-30 70.1 0.2 1.8 1.3 -450 -30.5
30-40 81.7 0.3 2.5 1.4 -874 -32.3
40-50 90.2 0.3 2.6 1.2 -1,174 -26.2
50-75 98.3 0.0 4.1 6.3 -2,420 -25.6
75-100 99.3 0.1 4.7 6.6 -3,678 -23.2
100-200 99.8 0.0 7.0 19.2 -8,155 -26.0
200-500 100.0 0.0 10.9 20.1 -25,155 -29.8
500-1,000 100.0 0.0 13.6 11.0 -71,125 -32.9
More than 1,000 100.0 0.0 17.9 32.0 -380,140 -33.3
All 73.4 0.1 7.9 100.0 -5,155 -29.4
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.1 -0.5 2.3
10-20 0.0 0.6 -0.9 1.9
20-30 0.0 1.3 -1.7 3.8
30-40 -0.1 1.2 -2.3 4.9
40-50 0.1 1.5 -2.4 6.8
50-75 0.4 7.6 -3.6 10.4
75-100 0.8 9.2 -3.9 12.9
100-200 1.1 22.8 -5.5 15.8
200-500 -0.1 19.7 -8.0 18.8
500-1,000 -0.5 9.4 -9.6 19.6
More than 1,000 -1.6 26.7 -11.6 23.3
All 0.0 100.0 -6.2 14.9
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,539 8.3 6,784 192 6,592
10-20 6,918 22.7 16,273 449 15,824
20-30 4,634 15.2 26,676 1,476 25,200
30-40 2,493 8.2 37,627 2,707 34,920
40-50 1,658 5.4 49,112 4,487 44,625
50-75 4,080 13.4 67,978 9,474 58,504
75-100 2,843 9.3 94,250 15,872 78,378
100-200 3,711 12.2 147,138 31,350 115,787
200-500 1,258 4.1 315,492 84,316 231,175
500-1,000 243 0.8 740,468 216,394 524,073
More than 1,000 133 0.4 3,269,522 1,140,798 2,128,724
All 30,530 100.0 82,817 17,527 65,289
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 2.8 0.7 0.8 0.1
10-20 2.8 4.5 5.5 0.6
20-30 5.5 4.9 5.9 1.3
30-40 7.2 3.7 4.4 1.3
40-50 9.1 3.2 3.7 1.4
50-75 13.9 11.0 12.0 7.2
75-100 16.8 10.6 11.2 8.4
100-200 21.3 21.6 21.6 21.7
200-500 26.7 15.7 14.6 19.8
500-1,000 29.2 7.1 6.4 9.8
More than 1,000 34.9 17.2 14.2 28.3
All 21.2 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
Note: Elderly tax units are those with either head or spouse (if filing
jointly) age 65 or older.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0188
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile, 20121
Summary Table
Percent of Tax Units4 Percent Share of
Change in Total
Cash Income With Tax With Tax After-Tax Federal
Percentile2,3 Cut Increase Income5 Tax Change
Lowest Quintile 39.2 1.7 1.3 0.9
Second Quintile 89.0 1.1 3.4 4.8
Middle Quintile 98.1 0.2 3.8 8.5
Fourth Quintile 99.6 0.1 4.8 14.6
Top Quintile 99.9 0.0 9.4 71.2
All 81.2 0.8 6.7 100.0
Addendum
80-90 99.9 0.1 6.0 12.1
90-95 100.0 0.0 6.3 8.5
95-99 100.0 0.0 8.9 16.8
Top 1 Percent 100.0 0.0 14.4 33.7
Top 0.1 Percent 100.0 0.0 16.9 17.7
[table continued]
Average Average Federal Tax Rate6
Federal
Cash Income Tax Change (% Under the
Percentile2,3 Change ($) Points) Proposal
Lowest Quintile -150 -1.3 4.1
Second Quintile -917 -3.0 10.1
Middle Quintile -1,786 -3.1 16.1
Fourth Quintile -3,674 -3.7 18.5
Top Quintile -20,402 -6.7 22.0
All -4,241 -5.1 18.9
Addendum
80-90 -6,881 -4.5 20.5
90-95 -9,972 -4.6 21.5
95-99 -24,194 -6.4 21.7
Top 1 Percent -191,960 -9.6 23.5
Top 0.1 Percent -991,681 -10.9 24.8
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The breaks are (in 2008 dollars): 20%
$19,740, 40% $38,980, 60% $69,490, 80% $117,535, 90% $169,480, 95% $237,040,
99% $619,561, 99.9% $2,832,449.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0188
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile, 20121
Detail Table
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 39.2 1.7 1.3 0.9 -150 -23.3
Second Quintile 89.0 1.1 3.4 4.8 -917 -22.5
Middle Quintile 98.1 0.2 3.8 8.5 -1,786 -16.1
Fourth Quintile 99.6 0.1 4.8 14.6 -3,674 -16.7
Top Quintile 99.9 0.0 9.4 71.2 -20,402 -23.4
All 81.2 0.8 6.7 100.0 -4,241 -21.3
Addendum
80-90 99.9 0.1 6.0 12.1 -6,881 -18.1
90-95 100.0 0.0 6.3 8.5 -9,972 -17.7
95-99 100.0 0.0 8.9 16.8 -24,194 -22.8
Top 1 Percent 100.0 0.0 14.4 33.7 -191,960 -29.1
Top 0.1 Percent 100.0 0.0 16.9 17.7 -991,681 -30.4
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.8 -1.3 4.1
Second Quintile -0.1 4.4 -3.0 10.1
Middle Quintile 0.7 11.9 -3.1 16.1
Fourth Quintile 1.1 19.6 -3.7 18.5
Top Quintile -1.7 63.1 -6.7 22.0
All 0.0 100.0 -5.1 18.9
Addendum
80-90 0.6 14.9 -4.5 20.5
90-95 0.5 10.7 -4.6 21.5
95-99 -0.3 15.4 -6.4 21.7
Top 1 Percent -2.4 22.2 -9.6 23.5
Top 0.1 Percent -1.4 10.9 -10.9 24.8
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 40,338 25.9 11,993 645 11,348
Second Quintile 34,253 22.0 31,130 4,068 27,062
Middle Quintile 31,371 20.1 57,716 11,099 46,616
Fourth Quintile 26,273 16.8 98,626 21,948 76,679
Top Quintile 23,076 14.8 305,124 87,367 217,757
All 156,009 100.0 83,049 19,934 63,115
Addendum
80-90 11,675 7.5 152,072 38,030 114,042
90-95 5,645 3.6 215,559 56,250 159,309
95-99 4,594 2.9 377,269 106,112 271,158
Top 1 Percent 1,162 0.7 1,992,972 660,194 1,332,778
Top 0.1 Percent 118 0.1 9,136,646 3,259,532 5,877,114
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 5.4 3.7 4.7 0.8
Second Quintile 13.1 8.2 9.4 4.5
Middle Quintile 19.2 14.0 14.9 11.2
Fourth Quintile 22.3 20.0 20.5 18.5
Top Quintile 28.6 54.3 51.0 64.8
All 24.0 100.0 100.0 100.0
Addendum
80-90 25.0 13.7 13.5 14.3
90-95 26.1 9.4 9.1 10.2
95-99 28.1 13.4 12.7 15.7
Top 1 Percent 33.1 17.9 15.7 24.7
Top 0.1 Percent 35.7 8.3 7.0 12.4
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The breaks are (in 2008 dollars): 20%
$19,740, 40% $38,980, 60% $69,490, 80% $117,535, 90% $169,480, 95% $237,040,
99% $619,561, 99.9% $2,832,449.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0188
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20121
Detail Table
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 35.8 1.6 1.5 0.8 -166 -57.0
Second Quintile 81.1 1.5 3.9 4.8 -978 -30.4
Middle Quintile 96.1 0.3 3.9 7.5 -1,624 -17.6
Fourth Quintile 99.5 0.1 4.5 13.5 -3,008 -16.0
Top Quintile 99.8 0.1 8.9 73.3 -16,482 -22.5
All 81.2 0.8 6.7 100.0 -4,241 -21.3
Addendum
80-90 99.7 0.1 5.4 11.9 -5,322 -16.5
90-95 99.8 0.1 6.0 9.2 -8,169 -17.0
95-99 100.0 0.0 8.3 16.9 -19,323 -21.4
Top 1 Percent 100.0 0.0 14.4 35.3 -166,569 -29.2
Top 0.1 Percent 100.0 0.0 16.8 18.4 -873,607 -30.6
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -0.1 0.2 -1.5 1.1
Second Quintile -0.4 3.0 -3.5 8.0
Middle Quintile 0.4 9.5 -3.2 14.8
Fourth Quintile 1.2 19.0 -3.5 18.3
Top Quintile -1.1 68.3 -6.4 22.0
All 0.0 100.0 -5.1 18.9
Addendum
80-90 0.9 16.3 -4.1 20.7
90-95 0.6 12.1 -4.4 21.6
95-99 0.0 16.8 -6.0 21.9
Top 1 Percent -2.6 23.1 -9.6 23.3
Top 0.1 Percent -1.5 11.3 -10.9 24.6
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 33,519 21.5 11,234 290 10,943
Second Quintile 32,264 20.7 28,140 3,223 24,917
Middle Quintile 30,508 19.6 51,184 9,221 41,963
Fourth Quintile 29,582 19.0 86,263 18,758 67,506
Top Quintile 29,439 18.9 257,999 73,249 184,750
All 156,009 100.0 83,049 19,934 63,115
Addendum
80-90 14,815 9.5 130,199 32,227 97,972
90-95 7,431 4.8 183,801 47,931 135,870
95-99 5,789 3.7 323,569 90,285 233,285
Top 1 Percent 1,403 0.9 1,729,454 570,047 1,159,407
Top 0.1 Percent 140 0.1 8,053,010 2,856,235 5,196,775
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 2.6 2.9 3.7 0.3
Second Quintile 11.5 7.0 8.2 3.3
Middle Quintile 18.0 12.1 13.0 9.1
Fourth Quintile 21.7 19.7 20.3 17.8
Top Quintile 28.4 58.6 55.2 69.3
All 24.0 100.0 100.0 100.0
Addendum
80-90 24.8 14.9 14.7 15.4
90-95 26.1 10.5 10.3 11.5
95-99 27.9 14.5 13.7 16.8
Top 1 Percent 33.0 18.7 16.5 25.7
Top 0.1 Percent 35.5 8.7 7.4 12.8
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0188
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20121
Detail Table -- Single Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 29.2 1.2 0.8 0.8 -60 -10.1
Second Quintile 72.3 1.7 2.5 5.1 -467 -18.3
Middle Quintile 95.4 0.3 2.5 7.2 -759 -10.6
Fourth Quintile 99.4 0.1 3.8 14.3 -1,814 -12.8
Top Quintile 99.5 0.1 9.7 72.4 -11,400 -23.2
All 72.9 0.8 5.8 100.0 -2,079 -19.0
Addendum
80-90 99.5 0.1 5.4 12.5 -3,687 -15.2
90-95 99.4 0.1 5.9 8.9 -5,612 -15.7
95-99 99.9 0.1 9.5 17.3 -15,103 -23.4
Top 1 Percent 100.0 0.0 18.8 33.8 -139,383 -34.1
Top 0.1 Percent 100.0 0.0 22.5 16.7 -789,683 -34.7
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.2 1.7 -0.7 6.3
Second Quintile 0.0 5.4 -2.2 9.8
Middle Quintile 1.3 14.2 -2.0 17.0
Fourth Quintile 1.6 22.7 -2.9 20.0
Top Quintile -3.1 56.0 -6.9 22.7
All 0.0 100.0 -4.5 19.1
Addendum
80-90 0.7 16.3 -4.0 22.2
90-95 0.4 11.2 -4.3 23.0
95-99 -0.8 13.3 -6.7 22.1
Top 1 Percent -3.5 15.3 -12.1 23.5
Top 0.1 Percent -1.8 7.4 -13.6 25.7
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 18,528 27.3 8,584 597 7,987
Second Quintile 15,492 22.9 21,338 2,557 18,781
Middle Quintile 13,373 19.7 37,507 7,140 30,367
Fourth Quintile 11,093 16.4 61,944 14,173 47,770
Top Quintile 8,952 13.2 166,465 49,099 117,366
All 67,788 100.0 46,595 10,972 35,623
Addendum
80-90 4,758 7.0 92,893 24,273 68,620
90-95 2,242 3.3 131,093 35,737 95,355
95-99 1,611 2.4 224,327 64,676 159,652
Top 1 Percent 341 0.5 1,150,729 409,206 741,523
Top 0.1 Percent 30 0.0 5,787,688 2,274,691 3,512,997
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 7.0 5.0 6.1 1.5
Second Quintile 12.0 10.5 12.1 5.3
Middle Quintile 19.0 15.9 16.8 12.8
Fourth Quintile 22.9 21.8 21.9 21.1
Top Quintile 29.5 47.2 43.5 59.1
All 23.6 100.0 100.0 100.0
Addendum
80-90 26.1 14.0 13.5 15.5
90-95 27.3 9.3 8.9 10.8
95-99 28.8 11.4 10.7 14.0
Top 1 Percent 35.6 12.4 10.5 18.8
Top 0.1 Percent 39.3 5.5 4.4 9.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0188
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20121
Detail Table -- Married Tax Units Filing Jointly
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 49.6 2.1 2.7 0.6 -385 -69.7
Second Quintile 85.8 1.6 4.5 2.8 -1,450 -34.9
Middle Quintile 95.9 0.4 4.4 5.9 -2,435 -21.6
Fourth Quintile 99.7 0.1 4.7 12.8 -3,925 -17.7
Top Quintile 99.9 0.0 8.8 77.9 -19,189 -22.4
All 91.3 0.6 7.3 100.0 -7,601 -21.9
Addendum
80-90 99.9 0.1 5.5 12.3 -6,353 -17.3
90-95 99.9 0.0 6.1 9.9 -9,444 -17.5
95-99 100.0 0.0 8.0 18.0 -21,272 -20.9
Top 1 Percent 100.0 0.0 13.5 37.6 -173,719 -28.1
Top 0.1 Percent 100.0 0.0 15.8 19.4 -887,910 -29.7
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -0.1 0.1 -2.6 1.1
Second Quintile -0.3 1.4 -4.0 7.5
Middle Quintile 0.0 6.0 -3.7 13.3
Fourth Quintile 0.9 16.7 -3.7 17.4
Top Quintile -0.5 75.7 -6.3 21.8
All 0.0 100.0 -5.5 19.5
Addendum
80-90 0.9 16.6 -4.2 20.1
90-95 0.7 13.1 -4.5 21.2
95-99 0.2 19.1 -5.8 21.9
Top 1 Percent -2.3 26.9 -9.1 23.3
Top 0.1 Percent -1.4 12.9 -10.3 24.4
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 6,761 11.1 14,790 553 14,237
Second Quintile 8,813 14.5 36,067 4,155 31,911
Middle Quintile 11,162 18.3 66,221 11,270 54,951
Fourth Quintile 15,151 24.9 105,103 22,172 82,932
Top Quintile 18,797 30.8 305,001 85,702 219,299
All 60,954 100.0 138,787 34,706 104,081
Addendum
80-90 8,999 14.8 151,491 36,732 114,759
90-95 4,873 8.0 209,583 53,893 155,690
95-99 3,924 6.4 367,042 101,730 265,312
Top 1 Percent 1,002 1.6 1,904,894 617,468 1,287,426
Top 0.1 Percent 101 0.2 8,600,122 2,989,009 5,611,112
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 3.7 1.2 1.5 0.2
Second Quintile 11.5 3.8 4.4 1.7
Middle Quintile 17.0 8.7 9.7 6.0
Fourth Quintile 21.1 18.8 19.8 15.9
Top Quintile 28.1 67.8 65.0 76.2
All 25.0 100.0 100.0 100.0
Addendum
80-90 24.3 16.1 16.3 15.6
90-95 25.7 12.1 12.0 12.4
95-99 27.7 17.0 16.4 18.9
Top 1 Percent 32.4 22.6 20.3 29.2
Top 0.1 Percent 34.8 10.3 9.0 14.3
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0188
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20121
Detail Table -- Head of Household Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 38.8 2.1 1.5 4.1 -223 32.9
Second Quintile 92.5 1.1 5.0 25.4 -1,462 -42.8
Middle Quintile 98.3 0.2 4.7 25.4 -2,105 -20.8
Fourth Quintile 99.5 0.0 4.3 17.6 -2,838 -14.9
Top Quintile 99.7 0.0 6.9 27.4 -9,923 -18.5
All 77.5 1.1 4.7 100.0 -1,758 -23.0
Addendum
80-90 99.8 0.0 4.3 7.1 -3,972 -12.7
90-95 99.1 0.0 5.2 3.3 -6,464 -14.6
95-99 99.9 0.0 7.1 6.1 -15,711 -20.0
Top 1 Percent 100.0 0.0 13.5 10.9 -140,617 -27.9
Top 0.1 Percent 99.9 0.0 16.3 5.5 -822,542 -29.8
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -2.1 -4.9 -1.6 -6.3
Second Quintile -3.5 10.1 -4.4 5.9
Middle Quintile 0.8 28.9 -3.8 14.5
Fourth Quintile 2.8 29.9 -3.3 19.0
Top Quintile 2.0 35.9 -5.0 22.1
All 0.0 100.0 -3.9 13.0
Addendum
80-90 1.7 14.5 -3.2 21.9
90-95 0.6 5.7 -3.8 22.3
95-99 0.3 7.3 -5.2 21.0
Top 1 Percent -0.6 8.4 -9.1 23.5
Top 0.1 Percent -0.4 3.9 -10.5 24.8
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 7,961 32.2 14,430 -679 15,109
Second Quintile 7,556 30.6 32,988 3,417 29,571
Middle Quintile 5,252 21.3 55,112 10,118 44,994
Fourth Quintile 2,696 10.9 84,953 19,012 65,940
Top Quintile 1,198 4.9 197,502 53,637 143,864
All 24,714 100.0 45,216 7,655 37,561
Addendum
80-90 774 3.1 124,547 31,285 93,262
90-95 222 0.9 169,438 44,182 125,256
95-99 168 0.7 299,897 78,727 221,171
Top 1 Percent 34 0.1 1,548,845 504,591 1,044,254
Top 0.1 Percent 3 0.0 7,820,896 2,760,631 5,060,265
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile -4.7 10.3 13.0 -2.9
Second Quintile 10.4 22.3 24.1 13.7
Middle Quintile 18.4 25.9 25.5 28.1
Fourth Quintile 22.4 20.5 19.2 27.1
Top Quintile 27.2 21.2 18.6 34.0
All 16.9 100.0 100.0 100.0
Addendum
80-90 25.1 8.6 7.8 12.8
90-95 26.1 3.4 3.0 5.2
95-99 26.3 4.5 4.0 7.0
Top 1 Percent 32.6 4.7 3.8 9.0
Top 0.1 Percent 35.3 2.0 1.6 4.2
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0188
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20121
Detail Table -- Tax Units with Children
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 46.4 2.2 2.5 1.4 -408 48.5
Second Quintile 96.6 0.8 5.8 6.9 -1,916 -45.5
Middle Quintile 99.4 0.1 5.5 11.2 -3,034 -23.6
Fourth Quintile 99.9 0.0 6.0 17.7 -5,224 -19.9
Top Quintile 100.0 0.0 9.2 62.8 -21,910 -22.3
All 88.2 0.7 7.4 100.0 -5,881 -23.2
Addendum
80-90 100.0 0.0 5.9 11.4 -7,607 -17.2
90-95 100.0 0.0 6.7 8.3 -12,126 -18.4
95-99 100.0 0.0 8.8 14.9 -27,167 -21.6
Top 1 Percent 100.0 0.0 14.3 28.1 -212,418 -27.8
Top 0.1 Percent 100.0 0.0 16.1 13.9 -1,093,399 -29.1
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -0.6 -1.3 -2.6 -7.9
Second Quintile -1.0 2.5 -5.1 6.1
Middle Quintile -0.1 11.0 -4.5 14.4
Fourth Quintile 0.9 21.5 -4.6 18.4
Top Quintile 0.8 66.2 -6.5 22.7
All 0.0 100.0 -5.6 18.5
Addendum
80-90 1.2 16.6 -4.4 21.2
90-95 0.7 11.1 -4.9 21.8
95-99 0.3 16.4 -6.2 22.6
Top 1 Percent -1.4 22.2 -9.4 24.5
Top 0.1 Percent -0.9 10.3 -10.4 25.2
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 9,871 20.2 15,772 -842 16,614
Second Quintile 10,311 21.1 37,449 4,209 33,240
Middle Quintile 10,593 21.7 68,197 12,879 55,318
Fourth Quintile 9,721 19.9 113,901 26,216 87,684
Top Quintile 8,230 16.8 336,992 98,354 238,639
All 48,864 100.0 105,014 25,317 79,697
Addendum
80-90 4,312 8.8 173,044 44,246 128,798
90-95 1,958 4.0 245,817 65,819 179,998
95-99 1,579 3.2 435,654 125,648 310,005
Top 1 Percent 381 0.8 2,253,531 765,288 1,488,244
Top 0.1 Percent 37 0.1 10,557,678 3,752,988 6,804,690
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile -5.3 3.0 4.2 -0.7
Second Quintile 11.2 7.5 8.8 3.5
Middle Quintile 18.9 14.1 15.1 11.0
Fourth Quintile 23.0 21.6 21.9 20.6
Top Quintile 29.2 54.1 50.4 65.4
All 24.1 100.0 100.0 100.0
Addendum
80-90 25.6 14.5 14.3 15.4
90-95 26.8 9.4 9.1 10.4
95-99 28.8 13.4 12.6 16.0
Top 1 Percent 34.0 16.7 14.6 23.6
Top 0.1 Percent 35.6 7.5 6.4 11.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
Note: Tax units with children are those claiming an exemption for children at
home or away from home.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by divi by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0188
Senator McCain's Tax Proposals as Described in his Stump Speeches
Distribution of Federal Tax Change by Cash Income Percentile
Adjusted for Family Size, 20121
Detail Table -- Elderly Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 31.0 0.2 0.7 0.3 -72 -26.6
Second Quintile 59.5 0.2 1.6 1.9 -373 -32.7
Middle Quintile 87.1 0.2 2.3 2.9 -959 -25.8
Fourth Quintile 99.2 0.1 3.8 9.0 -2,566 -21.8
Top Quintile 99.8 0.0 11.5 85.8 -22,373 -30.6
All 73.4 0.1 7.9 100.0 -5,155 -29.4
Addendum
80-90 99.8 0.0 6.6 10.8 -6,238 -26.1
90-95 99.5 0.0 7.7 9.8 -10,054 -26.3
95-99 100.0 0.0 10.7 20.6 -23,306 -29.7
Top 1 Percent 100.0 0.0 17.0 44.7 -174,675 -33.7
Top 0.1 Percent 100.0 0.0 19.3 22.6 -870,372 -33.6
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.3 -0.6 1.8
Second Quintile -0.1 1.7 -1.6 3.2
Middle Quintile 0.2 3.5 -2.1 6.1
Fourth Quintile 1.3 13.4 -3.2 11.6
Top Quintile -1.4 81.0 -8.4 19.0
All 0.0 100.0 -6.2 14.9
Addendum
80-90 0.6 12.7 -5.3 14.8
90-95 0.5 11.4 -6.0 16.8
95-99 -0.1 20.3 -7.9 18.7
Top 1 Percent -2.4 36.6 -11.3 22.2
Top 0.1 Percent -1.2 18.5 -12.3 24.2
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 5,982 19.6 11,174 271 10,904
Second Quintile 8,200 26.9 23,916 1,141 22,775
Middle Quintile 4,773 15.6 45,520 3,726 41,794
Fourth Quintile 5,522 18.1 79,079 11,760 67,319
Top Quintile 6,034 19.8 267,452 73,098 194,353
All 30,530 100.0 82,817 17,527 65,289
Addendum
80-90 2,713 8.9 118,899 23,874 95,025
90-95 1,529 5.0 168,044 38,204 129,839
95-99 1,389 4.6 295,666 78,566 217,100
Top 1 Percent 403 1.3 1,548,708 518,468 1,030,241
Top 0.1 Percent 41 0.1 7,103,107 2,586,974 4,516,133
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 2.4 2.6 3.3 0.3
Second Quintile 4.8 7.8 9.4 1.8
Middle Quintile 8.2 8.6 10.0 3.3
Fourth Quintile 14.9 17.3 18.7 12.1
Top Quintile 27.3 63.8 58.8 82.4
All 21.2 100.0 100.0 100.0
Addendum
80-90 20.1 12.8 12.9 12.1
90-95 22.7 10.2 10.0 10.9
95-99 26.6 16.3 15.1 20.4
Top 1 Percent 33.5 24.7 20.8 39.0
Top 0.1 Percent 36.4 11.5 9.2 19.7
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 22.6 Proposal: 0.0
Note: Elderly tax units are those with either head or spouse (if filing
jointly) age 65 or older.
FOOTNOTES TO TABLE
1 Calendar year. Baseline is current law. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by divi by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0189
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Level, 20121
Summary Table
Percent of Tax Units3 Percent Share of
Cash Income Change in Total
Level (thousands With Tax With Tax After-Tax Federal Tax
of 2008 dollars)2 Cut Increase Income4 Change
Less than 10 14.5 0.0 0.2 0.2
10-20 20.2 0.0 0.2 0.7
20-30 40.5 0.1 0.4 1.9
30-40 53.0 0.2 0.5 2.9
40-50 58.5 0.1 0.6 3.0
50-75 68.6 0.1 0.6 8.0
75-100 78.4 0.0 0.6 7.6
100-200 85.8 0.0 0.7 20.1
200-500 86.7 0.1 0.8 13.1
500-1,000 92.8 0.2 1.2 7.9
More than 1,000 97.9 0.3 2.5 34.2
All 53.7 0.1 0.9 100.0
[table continued]
Average Average Federal Tax Rate5
Cash Income Federal
Level (thousands Tax Change (% Under the
of 2008 dollars)2 Change ($) Points) Proposal
Less than 10 -14 -0.2 5.1
10-20 -26 -0.2 4.5
20-30 -89 -0.3 8.8
30-40 -178 -0.5 12.7
40-50 -232 -0.5 15.6
50-75 -336 -0.5 17.6
75-100 -483 -0.5 18.9
100-200 -847 -0.6 21.2
200-500 -1,892 -0.6 23.8
500-1,000 -6,825 -0.9 24.8
More than 1,000 -58,632 -1.8 27.4
All -601 -0.7 20.3
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0189
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Level, 20121
Detail Table
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 14.5 0.0 0.2 0.2 -14 -4.2
10-20 20.2 0.0 0.2 0.7 -26 -3.5
20-30 40.5 0.1 0.4 1.9 -89 -3.6
30-40 53.0 0.2 0.5 2.9 -178 -3.6
40-50 58.5 0.1 0.6 3.0 -232 -2.9
50-75 68.6 0.1 0.6 8.0 -336 -2.8
75-100 78.4 0.0 0.6 7.6 -483 -2.6
100-200 85.8 0.0 0.7 20.1 -847 -2.6
200-500 86.7 0.1 0.8 13.1 -1,892 -2.5
500-1,000 92.8 0.2 1.2 7.9 -6,825 -3.6
More than 1,000 97.9 0.3 2.5 34.2 -58,632 -6.1
Al 53.7 0.1 0.9 100.0 -601 -3.4
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.2 -0.2 5.1
10-20 0.0 0.7 -0.2 4.5
20-30 0.0 1.8 -0.3 8.8
30-40 0.0 2.8 -0.5 12.7
40-50 0.0 3.5 -0.5 15.6
50-75 0.1 10.0 -0.5 17.6
75-100 0.1 10.0 -0.5 18.9
100-200 0.2 26.5 -0.6 21.2
200-500 0.2 18.2 -0.6 23.8
500-1,000 0.0 7.6 -0.9 24.8
More than 1,000 -0.5 18.7 -1.8 27.4
All 0.0 100.0 -0.7 20.3
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 16,546 10.6 6,019 320 5,699
10-20 24,280 15.6 16,259 750 15,509
20-30 20,001 12.8 27,053 2,463 24,590
30-40 15,128 9.7 37,907 5,009 32,897
40-50 12,063 7.7 48,997 7,888 41,109
50-75 22,213 14.2 67,389 12,181 55,208
75-100 14,729 9.4 94,738 18,368 76,370
100-200 22,218 14.2 148,087 32,200 115,886
200-500 6,499 4.2 309,272 75,561 233,711
500-1,000 1,087 0.7 739,526 190,011 549,515
More than 1,000 546 0.4 3,289,961 958,882 2,331,079
All 156,009 100.0 83,049 17,465 65,583
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 5.3 0.8 0.9 0.2
10-20 4.6 3.1 3.7 0.7
20-30 9.1 4.2 4.8 1.8
30-40 13.2 4.4 4.9 2.8
40-50 16.1 4.6 4.9 3.5
50-75 18.1 11.6 12.0 9.9
75-100 19.4 10.8 11.0 9.9
100-200 21.7 25.4 25.2 26.3
200-500 24.4 15.5 14.9 18.0
500-1,000 25.7 6.2 5.8 7.6
More than 1,000 29.2 13.9 12.4 19.2
All 21.0 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0189
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Level, 20121
Detail Table -- Single Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 14.2 0.0 0.2 1.0 -12 -2.5
10-20 21.9 0.0 0.2 2.8 -27 -2.1
20-30 33.3 0.1 0.3 4.7 -67 -1.8
30-40 34.9 0.0 0.3 4.6 -98 -1.5
40-50 38.8 0.0 0.2 3.6 -95 -1.0
50-75 50.7 0.0 0.4 10.9 -181 -1.3
75-100 60.6 0.0 0.5 8.5 -333 -1.5
100-200 74.3 0.0 0.8 21.1 -882 -2.5
200-500 85.9 0.2 1.3 16.3 -2,962 -3.8
500-1,000 92.7 0.5 1.3 6.7 -7,089 -3.9
More than 1,000 96.4 1.0 1.8 19.1 -40,569 -4.2
All 34.7 0.0 0.6 100.0 -217 -2.3
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.9 -0.2 7.6
10-20 0.0 3.1 -0.2 7.9
20-30 0.0 5.8 -0.3 13.3
30-40 0.1 7.2 -0.3 17.5
40-50 0.1 8.4 -0.2 19.6
50-75 0.2 19.8 -0.3 21.4
75-100 0.1 12.8 -0.4 23.3
100-200 -0.1 18.7 -0.6 23.7
200-500 -0.2 9.4 -1.0 23.7
500-1,000 -0.1 3.7 -1.0 23.5
More than 1,000 -0.2 10.1 -1.2 28.3
All 0.0 100.0 -0.5 20.3
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 12,033 17.8 6,036 471 5,565
10-20 15,257 22.5 16,104 1,305 14,799
20-30 10,409 15.4 26,937 3,657 23,280
30-40 6,929 10.2 37,831 6,708 31,123
40-50 5,586 8.2 48,999 9,678 39,321
50-75 8,900 13.1 66,503 14,428 52,075
75-100 3,777 5.6 93,400 22,066 71,334
100-200 3,528 5.2 143,053 34,754 108,299
200-500 811 1.2 313,377 77,143 236,234
500-1,000 138 0.2 737,609 180,151 557,458
More than 1,000 69 0.1 3,290,833 971,402 2,319,431
All 67,788 100.0 46,595 9,651 36,945
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 7.8 2.3 2.7 0.9
10-20 8.1 7.8 9.0 3.0
20-30 13.6 8.9 9.7 5.8
30-40 17.7 8.3 8.6 7.1
40-50 19.8 8.7 8.8 8.3
50-75 21.7 18.7 18.5 19.6
75-100 23.6 11.2 10.8 12.7
100-200 24.3 16.0 15.3 18.7
200-500 24.6 8.0 7.7 9.6
500-1,000 24.4 3.2 3.1 3.8
More than 1,000 29.5 7.2 6.4 10.3
All 20.7 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0189
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Level, 20121
Detail Table -- Married Tax Units Filing Jointly
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 24.0 0.0 0.7 0.1 -33 -10.7
10-20 23.8 0.0 0.2 0.2 -39 -8.0
20-30 41.6 0.0 0.3 0.5 -77 -5.6
30-40 59.8 0.1 0.5 1.1 -179 -5.8
40-50 68.2 0.2 0.6 1.4 -272 -4.9
50-75 78.1 0.2 0.7 5.5 -416 -4.1
75-100 84.3 0.0 0.7 6.8 -512 -3.1
100-200 88.4 0.1 0.7 21.7 -851 -2.7
200-500 87.1 0.1 0.7 13.7 -1,710 -2.3
500-1,000 93.1 0.1 1.2 9.0 -6,723 -3.5
More than 1,000 98.1 0.2 2.6 39.5 -59,557 -6.4
All 73.3 0.1 1.0 100.0 -1,125 -3.7
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.0 -0.6 5.4
10-20 0.0 0.1 -0.2 2.7
20-30 0.0 0.3 -0.3 4.8
30-40 0.0 0.7 -0.5 7.7
40-50 0.0 1.1 -0.6 10.8
50-75 0.0 4.9 -0.6 14.1
75-100 0.1 8.2 -0.5 16.8
100-200 0.3 30.2 -0.6 20.6
200-500 0.3 22.6 -0.6 23.8
500-1,000 0.0 9.4 -0.9 25.0
More than 1,000 -0.6 22.4 -1.9 27.2
All 0.0 100.0 -0.8 21.1
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,059 3.4 5,102 308 4,794
10-20 3,695 6.1 16,805 485 16,320
20-30 4,653 7.6 27,081 1,374 25,707
30-40 4,125 6.8 37,989 3,083 34,906
40-50 3,572 5.9 49,128 5,578 43,550
50-75 9,064 14.9 68,660 10,118 58,542
75-100 9,144 15.0 95,433 16,570 78,864
100-200 17,526 28.8 149,607 31,640 117,967
200-500 5,479 9.0 308,576 75,278 233,297
500-1,000 913 1.5 739,970 191,473 548,497
More than 1,000 455 0.8 3,227,576 937,795 2,289,781
All 60,954 100.0 138,787 30,441 108,347
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 6.0 0.1 0.2 0.0
10-20 2.9 0.7 0.9 0.1
20-30 5.1 1.5 1.8 0.3
30-40 8.1 1.9 2.2 0.7
40-50 11.4 2.1 2.4 1.1
50-75 14.7 7.4 8.0 4.9
75-100 17.4 10.3 10.9 8.2
100-200 21.2 31.0 31.3 29.9
200-500 24.4 20.0 19.4 22.2
500-1,000 25.9 8.0 7.6 9.4
More than 1,000 29.1 17.4 15.8 23.0
All 21.9 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0189
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Level, 20121
Detail Table -- Head of Household Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 8.2 0.0 0.1 0.1 -4 0.8
10-20 12.2 0.0 0.1 0.8 -13 1.6
20-30 55.8 0.3 0.6 8.7 -153 -21.7
30-40 79.8 0.9 1.0 15.2 -332 -8.8
40-50 89.6 0.2 1.2 15.1 -483 -7.0
50-75 89.9 0.0 1.0 23.9 -525 -4.6
75-100 90.8 0.0 1.0 13.6 -732 -3.8
100-200 84.3 0.0 0.7 8.7 -714 -2.2
200-500 79.0 0.3 0.8 3.8 -1,964 -2.6
500-1,000 83.5 0.0 1.3 2.2 -7,155 -3.9
More than 1,000 97.8 0.1 2.5 7.8 -56,362 -6.0
All 58.1 0.2 0.9 100.0 -330 -5.1
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 -0.7 -0.1 -7.1
10-20 -0.2 -2.8 -0.1 -5.1
20-30 -0.4 1.7 -0.6 2.0
30-40 -0.3 8.5 -0.9 9.1
40-50 -0.2 10.8 -1.0 13.3
50-75 0.2 26.7 -0.8 16.6
75-100 0.2 18.5 -0.8 19.7
100-200 0.6 20.4 -0.5 22.5
200-500 0.2 7.5 -0.6 23.5
500-1,000 0.0 2.9 -1.0 24.1
More than 1,000 -0.1 6.6 -1.8 27.7
All 0.0 100.0 -0.7 13.7
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,316 9.4 6,761 -478 7,239
10-20 5,047 20.4 16,328 -824 17,152
20-30 4,615 18.7 27,243 707 26,536
30-40 3,737 15.1 37,894 3,784 34,110
40-50 2,547 10.3 48,781 6,947 41,833
50-75 3,703 15.0 66,425 11,541 54,884
75-100 1,518 6.1 93,959 19,284 74,675
100-200 988 4.0 139,901 32,239 107,663
200-500 156 0.6 310,610 74,995 235,615
500-1,000 25 0.1 727,675 182,433 545,242
More than 1,000 11 0.1 3,207,147 945,143 2,262,004
All 24,714 100.0 45,216 6,502 38,713
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 -7.1 1.4 1.8 -0.7
10-20 -5.0 7.4 9.1 -2.6
20-30 2.6 11.3 12.8 2.0
30-40 10.0 12.7 13.3 8.8
40-50 14.2 11.1 11.1 11.0
50-75 17.4 22.0 21.2 26.6
75-100 20.5 12.8 11.9 18.2
100-200 23.0 12.4 11.1 19.8
200-500 24.1 4.3 3.8 7.3
500-1,000 25.1 1.6 1.4 2.8
More than 1,000 29.5 3.3 2.7 6.7
All 14.4 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0189
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Level, 20121
Detail Table -- Tax Units with Children
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 6.2 0.0 0.1 0.1 -8 1.2
10-20 10.9 0.0 0.1 0.2 -13 0.9
20-30 49.8 0.2 0.5 1.7 -129 -1,446.0
30-40 81.1 0.6 0.9 3.7 -329 -10.5
40-50 92.3 0.4 1.1 4.4 -486 -7.6
50-75 96.1 0.3 1.1 11.1 -644 -6.0
75-100 98.4 0.1 1.0 10.5 -786 -4.5
100-200 97.8 0.1 0.9 25.4 -1,092 -3.4
200-500 86.3 0.2 0.5 8.8 -1,232 -1.6
500-1,000 91.4 0.0 0.9 5.5 -4,871 -2.4
More than 1,000 99.2 0.0 2.4 28.3 -54,600 -5.6
All 74.9 0.2 1.1 100.0 -870 -4.0
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 -0.2 -0.1 -10.7
10-20 0.0 -0.8 -0.1 -9.1
20-30 -0.1 -0.1 -0.5 -0.4
30-40 -0.1 1.3 -0.9 7.3
40-50 -0.1 2.2 -1.0 12.0
50-75 -0.2 7.3 -1.0 15.0
75-100 -0.1 9.2 -0.8 17.5
100-200 0.2 29.7 -0.7 20.6
200-500 0.5 22.4 -0.4 24.5
500-1,000 0.1 9.0 -0.7 26.4
More than 1,000 -0.3 19.8 -1.7 28.5
All 0.0 100.0 -0.8 20.0
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,594 5.3 6,371 -676 7,047
10-20 5,296 10.8 16,585 -1,487 18,073
20-30 5,529 11.3 27,153 9 27,144
30-40 4,775 9.8 37,955 3,116 34,839
40-50 3,857 7.9 49,028 6,359 42,669
50-75 7,346 15.0 67,754 10,784 56,970
75-100 5,684 11.6 95,395 17,451 77,944
100-200 9,906 20.3 149,292 31,865 117,427
200-500 3,045 6.2 307,399 76,646 230,752
500-1,000 476 1.0 739,676 199,871 539,805
More than 1,000 220 0.5 3,238,329 975,745 2,262,585
All 48,864 100.0 105,014 21,866 83,148
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 -10.6 0.3 0.5 -0.2
10-20 -9.0 1.7 2.4 -0.7
20-30 0.0 2.9 3.7 0.0
30-40 8.2 3.5 4.1 1.4
40-50 13.0 3.7 4.1 2.3
50-75 15.9 9.7 10.3 7.4
75-100 18.3 10.6 10.9 9.3
100-200 21.3 28.8 28.6 29.5
200-500 24.9 18.2 17.3 21.8
500-1,000 27.0 6.9 6.3 8.9
More than 1,000 30.1 13.9 12.3 20.1
All 20.8 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
Note: Tax units with children are those claiming an exemption for
children at home or away from home.
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0189
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Level, 20121
Detail Table -- Elderly Tax Units
Cash Income Percent of Tax Units3 Percent Share of Average Federal
Level Change in Total Tax Change
(thousands of With With Tax After-Tax Federal
2008 dollars)2 Tax Cut Increase Income4 Tax Change Dollars Percent
Less than 10 29.5 0.0 0.4 0.3 -27 -14.3
10-20 33.4 0.0 0.3 1.1 -44 -11.2
20-30 58.1 0.0 0.5 2.0 -118 -9.5
30-40 69.8 0.0 0.6 1.9 -214 -9.7
40-50 74.2 0.0 0.5 1.4 -239 -6.5
50-75 82.3 0.0 0.7 6.3 -423 -5.4
75-100 85.6 0.0 0.8 6.3 -611 -4.6
100-200 90.9 0.0 1.2 19.3 -1,433 -5.5
200-500 95.1 0.2 1.7 19.2 -4,208 -6.1
500-1,000 96.3 0.5 2.2 10.7 -12,123 -6.8
More than 1,000 98.1 0.9 2.8 31.4 -65,342 -7.1
All 63.7 0.0 1.3 100.0 -903 -6.3
[table continued]
Cash Income Share of Federal Taxes Average Federal Tax Rate5
Level
(thousands of Change (% Under the Change (% Under the
2008 dollars)2 Points) Proposal Points) Proposal
Less than 10 0.0 0.1 -0.4 2.4
10-20 0.0 0.6 -0.3 2.1
20-30 0.0 1.3 -0.4 4.2
30-40 -0.1 1.2 -0.6 5.3
40-50 0.0 1.4 -0.5 7.0
50-75 0.1 7.3 -0.6 10.9
75-100 0.2 8.7 -0.7 13.3
100-200 0.2 22.2 -1.0 16.7
200-500 0.0 19.8 -1.3 20.5
500-1,000 -0.1 9.8 -1.6 22.4
More than 1,000 -0.3 27.5 -2.0 26.1
All 0.0 100.0 -1.1 16.2
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 20121
Cash Income Tax Units3 Average Average
Level Average Federal After-Tax
(thousands of Number Percent Income Tax Burden Income4
2008 dollars)2 (thousands) of Total (Dollars) (Dollars) (Dollars)
Less than 10 2,539 8.3 6,784 191 6,592
10-20 6,918 22.7 16,273 389 15,884
20-30 4,634 15.2 26,676 1,243 25,432
30-40 2,493 8.2 37,627 2,207 35,420
40-50 1,658 5.4 49,112 3,656 45,456
50-75 4,080 13.4 67,978 7,806 60,172
75-100 2,843 9.3 94,250 13,175 81,075
100-200 3,711 12.2 147,138 25,987 121,151
200-500 1,258 4.1 315,492 68,815 246,677
500-1,000 243 0.8 740,468 178,119 562,349
More than 1,000 133 0.4 3,269,522 917,116 2,352,406
All 30,530 100.0 82,817 14,348 68,469
[table continued]
Share of Pre- Share of Post- Share of
Cash Income Average Tax Income Tax Income Federal Taxes
Level Federal
(thousands of Tax Percent of Percent of Percent of
2008 dollars)2 Rate5 Total Total Total
Less than 10 2.8 0.7 0.8 0.1
10-20 2.4 4.5 5.3 0.6
20-30 4.7 4.9 5.6 1.3
30-40 5.9 3.7 4.2 1.3
40-50 7.4 3.2 3.6 1.4
50-75 11.5 11.0 11.7 7.3
75-100 14.0 10.6 11.0 8.6
100-200 17.7 21.6 21.5 22.0
200-500 21.8 15.7 14.8 19.8
500-1,000 24.1 7.1 6.6 9.9
More than 1,000 28.1 17.2 14.9 27.8
All 17.3 100.0 100.0 100.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
Note: Elderly tax units are those with either head or spouse (if
filing jointly) age 65 or older.
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 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.
END OF FOOTNOTES TO TABLE
Table T08-0190
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Percentile, 20121
Summary Table
Percent of Tax Units4 Percent Share of
Change in Total
Cash Income With Tax With Tax After-Tax Federal
Percentile2,3 Cut Increase Income5 Tax Change
Lowest Quintile 17.8 0.0 0.2 0.9
Second Quintile 45.2 0.2 0.5 4.5
Middle Quintile 63.5 0.1 0.6 9.4
Fourth Quintile 78.6 0.0 0.7 14.4
Top Quintile 87.7 0.1 1.3 70.3
All 53.7 0.1 0.9 100.0
Addendum
80-90 86.7 0.0 0.8 11.3
90-95 88.7 0.1 0.7 6.9
95-99 86.9 0.1 0.9 12.6
Top 1 Percent 96.2 0.2 2.2 39.6
Top 0.1 Percent 99.1 0.4 3.0 24.2
[table continued]
Average Average Federal Tax Rate6
Federal
Cash Income Tax Change (% Under the
Percentile2,3 Change ($) Points) Proposal
Lowest Quintile -21 -0.2 4.5
Second Quintile -124 -0.4 10.6
Middle Quintile -282 -0.5 16.7
Fourth Quintile -513 -0.5 19.1
Top Quintile -2,856 -0.9 24.1
All -601 -0.7 20.3
Addendum
80-90 -906 -0.6 21.4
90-95 -1,142 -0.5 22.5
95-99 -2,560 -0.7 24.3
Top 1 Percent -31,943 -1.6 26.8
Top 0.1 Percent -192,645 -2.1 28.2
Source: Urban-Brookings Tax Policy Center Microsimulation Model
(version 0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The breaks are (in 2008 dollars): 20%
$19,740, 40% $38,980, 60% $69,490, 80% $117,535, 90% $169,480, 95% $237,040,
99% $619,561, 99.9% $2,832,449.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0190
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Percentile, 20121
Detail Table
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 17.8 0.0 0.2 0.9 -21 -3.7
Second Quintile 45.2 0.2 0.5 4.5 -124 -3.6
Middle Quintile 63.5 0.1 0.6 9.4 -282 -2.8
Fourth Quintile 78.6 0.0 0.7 14.4 -513 -2.7
Top Quintile 87.7 0.1 1.3 70.3 -2,856 -3.7
All 53.7 0.1 0.9 100.0 -601 -3.4
Addendum
80-90 86.7 0.0 0.8 11.3 -906 -2.7
90-95 88.7 0.1 0.7 6.9 -1,142 -2.3
95-99 86.9 0.1 0.9 12.6 -2,560 -2.7
Top 1 Percent 96.2 0.2 2.2 39.6 -31,943 -5.7
Top 0.1 Percent 99.1 0.4 3.0 24.2 -192,645 -7.0
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.8 -0.2 4.5
Second Quintile 0.0 4.3 -0.4 10.6
Middle Quintile 0.1 11.5 -0.5 16.7
Fourth Quintile 0.2 18.8 -0.5 19.1
Top Quintile -0.2 64.4 -0.9 24.1
All 0.0 100.0 -0.7 20.3
Addendum
80-90 0.1 14.4 -0.6 21.4
90-95 0.1 10.4 -0.5 22.5
95-99 0.1 16.0 -0.7 24.3
Top 1 Percent -0.6 23.6 -1.6 26.8
Top 0.1 Percent -0.4 11.6 -2.1 28.2
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 40,338 25.9 11,993 564 11,428
Second Quintile 34,253 22.0 31,130 3,429 27,701
Middle Quintile 31,371 20.1 57,716 9,940 47,775
Fourth Quintile 26,273 16.8 98,626 19,351 79,275
Top Quintile 23,076 14.8 305,124 76,314 228,810
All 156,009 100.0 83,049 17,465 65,583
Addendum
80-90 11,675 7.5 152,072 33,458 118,614
90-95 5,645 3.6 215,559 49,701 165,858
95-99 4,594 2.9 377,269 94,276 282,993
Top 1 Percent 1,162 0.7 1,992,972 565,234 1,427,737
Top 0.1 Percent 118 0.1 9,136,646 2,772,019 6,364,626
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 4.7 3.7 4.5 0.8
Second Quintile 11.0 8.2 9.3 4.3
Middle Quintile 17.2 14.0 14.7 11.4
Fourth Quintile 19.6 20.0 20.4 18.7
Top Quintile 25.0 54.3 51.6 64.6
All 21.0 100.0 100.0 100.0
Addendum
80-90 22.0 13.7 13.5 14.3
90-95 23.1 9.4 9.2 10.3
95-99 25.0 13.4 12.7 15.9
Top 1 Percent 28.4 17.9 16.2 24.1
Top 0.1 Percent 30.3 8.3 7.3 12.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The breaks are (in 2008 dollars): 20%
$19,740, 40% $38,980, 60% $69,490, 80% $117,535, 90% $169,480, 95% $237,040,
99% $619,561, 99.9% $2,832,449.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0190
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Percentile Adjusted for Family Size, 20121
Detail Table
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 15.5 0.0 0.2 0.6 -17 -10.8
Second Quintile 49.5 0.2 0.6 5.6 -162 -6.3
Middle Quintile 59.9 0.1 0.7 9.9 -304 -3.7
Fourth Quintile 69.7 0.0 0.6 13.6 -430 -2.6
Top Quintile 79.6 0.0 1.2 69.9 -2,225 -3.5
All 53.7 0.1 0.9 100.0 -601 -3.4
Addendum
80-90 75.4 0.0 0.6 8.8 -559 -1.9
90-95 80.3 0.0 0.6 6.5 -815 -1.9
95-99 85.5 0.1 0.9 13.3 -2,156 -2.7
Top 1 Percent 95.3 0.3 2.2 41.3 -27,555 -5.7
Top 0.1 Percent 98.5 0.5 3.0 24.9 -167,427 -6.9
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.2 -0.2 1.2
Second Quintile -0.1 3.0 -0.6 8.5
Middle Quintile 0.0 9.1 -0.6 15.3
Fourth Quintile 0.2 18.3 -0.5 18.8
Top Quintile 0.0 69.4 -0.9 24.1
All 0.0 100.0 -0.7 20.3
Addendum
80-90 0.2 15.9 -0.4 21.7
90-95 0.2 11.8 -0.4 22.8
95-99 0.1 17.2 -0.7 24.2
Top 1 Percent -0.6 24.5 -1.6 26.6
Top 0.1 Percent -0.5 12.0 -2.1 28.0
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 33,519 21.5 11,234 156 11,077
Second Quintile 32,264 20.7 28,140 2,566 25,574
Middle Quintile 30,508 19.6 51,184 8,126 43,058
Fourth Quintile 29,582 19.0 86,263 16,666 69,598
Top Quintile 29,439 18.9 257,999 64,288 193,711
All 156,009 100.0 83,049 17,465 65,583
Addendum
80-90 14,815 9.5 130,199 28,777 101,422
90-95 7,431 4.8 183,801 42,742 141,060
95-99 5,789 3.7 323,569 80,360 243,209
Top 1 Percent 1,403 0.9 1,729,454 486,936 1,242,518
Top 0.1 Percent 140 0.1 8,053,010 2,421,412 5,631,598
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 1.4 2.9 3.6 0.2
Second Quintile 9.1 7.0 8.1 3.0
Middle Quintile 15.9 12.1 12.8 9.1
Fourth Quintile 19.3 19.7 20.1 18.1
Top Quintile 24.9 58.6 55.7 69.5
All 21.0 100.0 100.0 100.0
Addendum
80-90 22.1 14.9 14.7 15.7
90-95 23.3 10.5 10.2 11.7
95-99 24.8 14.5 13.8 17.1
Top 1 Percent 28.2 18.7 17.0 25.1
Top 0.1 Percent 30.1 8.7 7.7 12.4
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the
tax unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571,
40%$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99%
$370,252,99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0190
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Percentile Adjusted for Family Size, 20121
Detail Table -- Single Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 14.8 0.0 0.2 1.8 -14 -2.4
Second Quintile 30.7 0.1 0.3 5.8 -56 -2.4
Middle Quintile 34.3 0.0 0.3 8.2 -90 -1.4
Fourth Quintile 47.1 0.0 0.3 11.6 -154 -1.2
Top Quintile 68.1 0.0 1.0 72.1 -1,186 -2.9
All 34.7 0.0 0.6 100.0 -217 -2.3
Addendum
80-90 59.5 0.0 0.4 10.1 -313 -1.4
90-95 71.6 0.0 0.7 11.0 -719 -2.3
95-99 83.5 0.1 1.1 20.6 -1,885 -3.5
Top 1 Percent 92.7 0.6 1.6 30.4 -13,107 -4.1
Top 0.1 Percent 96.9 1.2 1.9 15.3 -75,516 -4.3
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 1.6 -0.2 6.5
Second Quintile 0.0 5.5 -0.3 10.6
Middle Quintile 0.1 13.7 -0.2 17.5
Fourth Quintile 0.3 22.6 -0.3 21.0
Top Quintile -0.4 56.5 -0.7 24.3
All 0.0 100.0 -0.5 20.3
Addendum
80-90 0.1 16.2 -0.3 23.4
90-95 0.0 10.9 -0.6 23.8
95-99 -0.2 13.2 -0.8 23.4
Top 1 Percent -0.3 16.2 -1.1 26.4
Top 0.1 Percent -0.2 7.8 -1.3 28.9
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 18,528 27.3 8,584 571 8,012
Second Quintile 15,492 22.9 21,338 2,310 19,028
Middle Quintile 13,373 19.7 37,507 6,657 30,850
Fourth Quintile 11,093 16.4 61,944 13,169 48,774
Top Quintile 8,952 13.2 166,465 41,552 124,913
All 67,788 100.0 46,595 9,651 36,945
Addendum
80-90 4,758 7.0 92,893 22,030 70,863
90-95 2,242 3.3 131,093 31,860 99,233
95-99 1,611 2.4 224,327 54,390 169,937
Top 1 Percent 341 0.5 1,150,729 316,603 834,126
Top 0.1 Percent 30 0.0 5,787,688 1,747,218 4,040,471
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 6.7 5.0 5.9 1.6
Second Quintile 10.8 10.5 11.8 5.5
Middle Quintile 17.8 15.9 16.5 13.6
Fourth Quintile 21.3 21.8 21.6 22.3
Top Quintile 25.0 47.2 44.7 56.9
All 20.7 100.0 100.0 100.0
Addendum
80-90 23.7 14.0 13.5 16.0
90-95 24.3 9.3 8.9 10.9
95-99 24.3 11.4 10.9 13.4
Top 1 Percent 27.5 12.4 11.4 16.5
Top 0.1 Percent 30.2 5.5 4.8 8.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0190
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Percentile Adjusted for Family Size, 20121
Detail Table -- Married Tax Units Filing Jointly
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 22.7 0.0 0.2 0.3 -33 -15.5
Second Quintile 62.2 0.2 0.7 3.0 -230 -7.4
Middle Quintile 77.7 0.2 0.9 7.9 -485 -5.1
Fourth Quintile 84.1 0.1 0.7 13.6 -615 -3.2
Top Quintile 85.7 0.0 1.2 74.8 -2,727 -3.6
All 73.3 0.1 1.0 100.0 -1,125 -3.7
Addendum
80-90 84.2 0.0 0.6 9.2 -702 -2.2
90-95 85.1 0.1 0.5 6.2 -867 -1.8
95-99 87.2 0.1 0.8 13.1 -2,284 -2.5
Top 1 Percent 96.6 0.1 2.3 46.3 -31,706 -5.9
Top 0.1 Percent 99.0 0.3 3.2 28.2 -190,419 -7.4
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.1 -0.2 1.2
Second Quintile -0.1 1.4 -0.6 8.1
Middle Quintile -0.1 5.7 -0.7 13.8
Fourth Quintile 0.1 15.8 -0.6 17.7
Top Quintile 0.1 76.9 -0.9 24.0
All 0.0 100.0 -0.8 21.1
Addendum
80-90 0.3 16.0 -0.5 21.0
90-95 0.3 12.9 -0.4 22.5
95-99 0.2 19.6 -0.6 24.4
Top 1 Percent -0.7 28.4 -1.7 26.6
Top 0.1 Percent -0.5 13.6 -2.2 27.8
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 6,761 11.1 14,790 212 14,579
Second Quintile 8,813 14.5 36,067 3,132 32,934
Middle Quintile 11,162 18.3 66,221 9,594 56,627
Fourth Quintile 15,151 24.9 105,103 19,233 85,870
Top Quintile 18,797 30.8 305,001 75,844 229,157
All 60,954 100.0 138,787 30,441 108,347
Addendum
80-90 8,999 14.8 151,491 32,538 118,952
90-95 4,873 8.0 209,583 48,006 161,577
95-99 3,924 6.4 367,042 91,748 275,294
Top 1 Percent 1,002 1.6 1,904,894 537,905 1,366,989
Top 0.1 Percent 101 0.2 8,600,122 2,581,835 6,018,286
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 1.4 1.2 1.5 0.1
Second Quintile 8.7 3.8 4.4 1.5
Middle Quintile 14.5 8.7 9.6 5.8
Fourth Quintile 18.3 18.8 19.7 15.7
Top Quintile 24.9 67.8 65.2 76.8
All 21.9 100.0 100.0 100.0
Addendum
80-90 21.5 16.1 16.2 15.8
90-95 22.9 12.1 11.9 12.6
95-99 25.0 17.0 16.4 19.4
Top 1 Percent 28.2 22.6 20.7 29.0
Top 0.1 Percent 30.0 10.3 9.3 14.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0190
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Percentile Adjusted for Family Size, 20121
Detail Table -- Head of Household Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 10.8 0.0 0.1 0.9 -9 1.1
Second Quintile 73.6 0.6 1.0 28.0 -302 -12.8
Middle Quintile 89.0 0.1 1.0 31.1 -482 -5.5
Fourth Quintile 86.6 0.0 0.9 19.3 -583 -3.4
Top Quintile 75.9 0.0 0.9 20.6 -1,400 -2.9
All 58.1 0.2 0.9 100.0 -330 -5.1
Addendum
80-90 77.1 0.0 0.6 5.3 -559 -1.9
90-95 71.6 0.2 0.5 1.9 -702 -1.7
95-99 73.4 0.0 0.8 3.6 -1,725 -2.4
Top 1 Percent 89.6 0.1 2.1 9.8 -23,717 -5.4
Top 0.1 Percent 99.1 0.3 2.9 5.6 -156,201 -6.6
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -0.3 -4.7 -0.1 -6.2
Second Quintile -0.9 10.2 -0.9 6.2
Middle Quintile -0.1 28.3 -0.9 14.9
Fourth Quintile 0.5 29.2 -0.7 19.5
Top Quintile 0.8 36.9 -0.7 23.8
All 0.0 100.0 -0.7 13.7
Addendum
80-90 0.5 14.3 -0.5 22.6
90-95 0.2 5.8 -0.4 23.5
95-99 0.2 7.7 -0.6 23.4
Top 1 Percent 0.0 9.2 -1.5 26.7
Top 0.1 Percent -0.1 4.2 -2.0 28.2
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 7,961 32.2 14,430 -891 15,321
Second Quintile 7,556 30.6 32,988 2,351 30,636
Middle Quintile 5,252 21.3 55,112 8,706 46,406
Fourth Quintile 2,696 10.9 84,953 17,125 67,828
Top Quintile 1,198 4.9 197,502 48,448 149,054
All 24,714 100.0 45,216 6,502 38,713
Addendum
80-90 774 3.1 124,547 28,720 95,827
90-95 222 0.9 169,438 40,478 128,960
95-99 168 0.7 299,897 71,857 228,040
Top 1 Percent 34 0.1 1,548,845 437,669 1,111,176
Top 0.1 Percent 3 0.0 7,820,896 2,363,421 5,457,476
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile -6.2 10.3 12.8 -4.4
Second Quintile 7.1 22.3 24.2 11.1
Middle Quintile 15.8 25.9 25.5 28.5
Fourth Quintile 20.2 20.5 19.1 28.7
Top Quintile 24.5 21.2 18.7 36.1
All 14.4 100.0 100.0 100.0
Addendum
80-90 23.1 8.6 7.8 13.8
90-95 23.9 3.4 3.0 5.6
95-99 24.0 4.5 4.0 7.5
Top 1 Percent 28.3 4.7 3.9 9.2
Top 0.1 Percent 30.2 2.0 1.7 4.3
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0190
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Percentile Adjusted for Family Size, 20121
Detail Table -- Tax Units with Children
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 10.3 0.0 0.1 0.3 -12 0.9
Second Quintile 78.7 0.6 1.0 8.5 -351 -12.8
Middle Quintile 96.3 0.2 1.2 16.6 -668 -6.2
Fourth Quintile 98.5 0.1 1.0 20.9 -916 -4.1
Top Quintile 92.9 0.1 1.1 53.3 -2,754 -3.2
All 74.9 0.2 1.1 100.0 -870 -4.0
Addendum
80-90 96.7 0.0 0.8 10.3 -1,019 -2.6
90-95 89.5 0.2 0.5 4.4 -957 -1.6
95-99 85.4 0.1 0.6 7.6 -2,056 -1.8
Top 1 Percent 97.2 0.0 2.2 30.9 -34,545 -5.2
Top 0.1 Percent 99.9 0.1 3.2 19.8 -229,616 -7.0
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile -0.1 -1.2 -0.1 -7.9
Second Quintile -0.2 2.4 -0.9 6.4
Middle Quintile -0.3 10.5 -1.0 14.9
Fourth Quintile 0.0 20.4 -0.8 18.9
Top Quintile 0.6 67.9 -0.8 25.1
All 0.0 100.0 -0.8 20.0
Addendum
80-90 0.2 16.1 -0.6 22.1
90-95 0.3 11.0 -0.4 23.4
95-99 0.4 17.3 -0.5 25.8
Top 1 Percent -0.3 23.5 -1.5 28.1
Top 0.1 Percent -0.4 10.8 -2.2 28.8
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 9,871 20.2 15,772 -1,237 17,009
Second Quintile 10,311 21.1 37,449 2,751 34,698
Middle Quintile 10,593 21.7 68,197 10,792 57,404
Fourth Quintile 9,721 19.9 113,901 22,418 91,482
Top Quintile 8,230 16.8 336,992 87,352 249,640
All 48,864 100.0 105,014 21,866 83,148
Addendum
80-90 4,312 8.8 173,044 39,238 133,806
90-95 1,958 4.0 245,817 58,575 187,242
95-99 1,579 3.2 435,654 114,538 321,115
Top 1 Percent 381 0.8 2,253,531 667,524 1,586,007
Top 0.1 Percent 37 0.1 10,557,678 3,265,814 7,291,864
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile -7.8 3.0 4.1 -1.1
Second Quintile 7.4 7.5 8.8 2.7
Middle Quintile 15.8 14.1 15.0 10.7
Fourth Quintile 19.7 21.6 21.9 20.4
Top Quintile 25.9 54.1 50.6 67.3
All 20.8 100.0 100.0 100.0
Addendum
80-90 22.7 14.5 14.2 15.8
90-95 23.8 9.4 9.0 10.7
95-99 26.3 13.4 12.5 16.9
Top 1 Percent 29.6 16.7 14.9 23.8
Top 0.1 Percent 30.9 7.5 6.6 11.2
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
Note: Tax units with children are those claiming an exemption for children at
home or away from home.
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
Table T08-0190
Senator McCain's Tax Proposals as Described by his Economic Advisors,
Tax Cuts Extended Baseline Distribution of Federal Tax Change
by Cash Income Percentile Adjusted for Family Size, 20121
Detail Table -- Elderly Tax Units
Share
Percent of Tax Units4 Percent of Total Average Federal
Change in Federal Tax Change
Cash Income With Tax With Tax After-Tax Tax
Percentile2,3 Cut Increase Income5 Change Dollars Percent
Lowest Quintile 28.0 0.0 0.3 0.7 -31 -12.8
Second Quintile 50.3 0.0 0.4 2.8 -93 -9.7
Middle Quintile 73.2 0.0 0.6 4.1 -238 -7.7
Fourth Quintile 83.8 0.0 0.7 9.1 -456 -4.6
Top Quintile 91.5 0.1 1.8 83.2 -3,800 -6.4
All 63.7 0.0 1.3 100.0 -903 -6.3
Addendum
80-90 88.7 0.0 1.0 9.7 -987 -5.0
90-95 91.5 0.0 1.4 10.3 -1,863 -5.9
95-99 95.4 0.1 1.8 20.6 -4,092 -6.4
Top 1 Percent 96.7 0.7 2.6 42.5 -29,108 -7.0
Top 0.1 Percent 98.1 1.4 2.9 21.6 -146,238 -7.1
[table continued]
Share of Federal Taxes Average Federal Tax Rate6
Cash Income Change (% Under the Change (% Under the
Percentile2,3 Points) Proposal Points) Proposal
Lowest Quintile 0.0 0.3 -0.3 1.9
Second Quintile -0.1 1.7 -0.4 3.6
Middle Quintile -0.1 3.3 -0.5 6.3
Fourth Quintile 0.2 12.8 -0.6 12.0
Top Quintile -0.1 81.8 -1.4 20.8
All 0.0 100.0 -1.1 16.2
Addendum
80-90 0.2 12.4 -0.8 15.8
90-95 0.1 11.1 -1.1 17.8
95-99 0.0 20.4 -1.4 20.3
Top 1 Percent -0.3 37.9 -1.9 25.0
Top 0.1 Percent -0.2 19.1 -2.1 27.0
Baseline Distribution of Income and Federal Taxes
by Cash Income Percentile Adjusted for Family Size, 20121
Tax Units4 Average Average
Average Federal After-Tax
Cash Income Number Percent Income Tax Burden Income5
Percentile2,3 (thousands) of Total (Dollars) (Dollars) (Dollars)
Lowest Quintile 5,982 19.6 11,174 243 10,931
Second Quintile 8,200 26.9 23,916 963 22,953
Middle Quintile 4,773 15.6 45,520 3,109 42,412
Fourth Quintile 5,522 18.1 79,079 9,931 69,149
Top Quintile 6,034 19.8 267,452 59,459 207,993
All 30,530 100.0 82,817 14,348 68,469
Addendum
80-90 2,713 8.9 118,899 19,766 99,132
90-95 1,529 5.0 168,044 31,696 136,347
95-99 1,389 4.6 295,666 64,242 231,425
Top 1 Percent 403 1.3 1,548,708 415,875 1,132,833
Top 0.1 Percent 41 0.1 7,103,107 2,064,317 5,038,790
[table continued]
Share of Pre- Share of Post- Share of
Average Tax Income Tax Income Federal Taxes
Federal
Cash Income Tax Percent of Percent of Percent of
Percentile2,3 Rate6 Total Total Total
Lowest Quintile 2.2 2.6 3.1 0.3
Second Quintile 4.0 7.8 9.0 1.8
Middle Quintile 6.8 8.6 9.7 3.4
Fourth Quintile 12.6 17.3 18.3 12.5
Top Quintile 22.2 63.8 60.0 81.9
All 17.3 100.0 100.0 100.0
Addendum
80-90 16.6 12.8 12.9 12.2
90-95 18.9 10.2 10.0 11.1
95-99 21.7 16.3 15.4 20.4
Top 1 Percent 26.9 24.7 21.8 38.2
Top 0.1 Percent 29.1 11.5 9.8 19.2
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version
0308-6).
Number of AMT Taxpayers (millions). Baseline: 6.1 Proposal: 7.2
Note: Elderly tax units are those with either head or spouse (if filing
jointly) age 65 or older.
FOOTNOTES TO TABLE
1 Calendar year. Baseline assumes the provisions in the 2001-06
tax cuts scheduled to sunset at the end of 2010 are made permanent and the
2007 AMT patch is extended and indexed for inflation. For a detailed
discussion of the proposals see the Tax Policy Center's report A Preliminary
Analysis of the 2008 Presidential Candidates' Tax Plans available on the TPC
website. Assumes all proposals are fully phased in.
2 Tax units with negative cash income are excluded from the
lowest income class but are included in the totals. For a description of cash
income, see http://www.taxpolicycenter.org/TaxModel/income.cfm
3 The cash income percentile classes used in this table are
based on the income distribution for the entire population and contain an
equal number of people, not tax units. The incomes used are adjusted for
family size by dividing by the square root of the number of people in the tax
unit. The resulting percentile breaks are (in 2008 dollars): 20% $13,571, 40%
$25,564, 60% $44,195, 80% $71,797, 90% $102,543, 95% $144,171, 99% $370,252,
99.9% $1,726,142.
4 Includes both filing and non-filing units but excludes those
that are dependents of other tax units.
5 After-tax income is cash income less: individual income tax
net of refundable credits; corporate income tax; payroll taxes (Social
Security and Medicare); and estate tax.
6 Average federal tax (includes individual and corporate income
tax, payroll taxes for Social Security and Medicare, and the estate tax) as a
percentage of average cash income.
END OF FOOTNOTES TO TABLE
- Institutional AuthorsTax Policy Center
- Subject Area/Tax Topics
- Jurisdictions
- LanguageEnglish
- Tax Analysts Document NumberDoc 2008-16322
- Tax Analysts Electronic Citation2008 TNT 144-37