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app_usa.out
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You loaded data for 2014.
Tax-Calculator startup automatically extrapolated your data to 2014.
You loaded data for 2014.
Tax-Calculator startup automatically extrapolated your data to 2014.
REFORM DOCUMENTATION
Policy Reform Parameter Values by Year:
2020:
_II_em : 1000
name: Personal and dependent exemption amount
desc: Subtracted from AGI in the calculation of taxable income, per taxpayer
and dependent.
baseline_value: 0.0
_II_rt5 : 0.36
name: Personal income (regular/non-AMT/non-pass-through) tax rate 5
desc: The third highest tax rate, applied to the portion of taxable income
below tax bracket 5 and above tax bracket 4.
baseline_value: 0.32
_II_rt6 : 0.39
name: Personal income (regular/non-AMT/non-pass-through) tax rate 6
desc: The second higher tax rate, applied to the portion of taxable income
below tax bracket 6 and above tax bracket 5.
baseline_value: 0.35
_II_rt7 : 0.41
name: Personal income (regular/non-AMT/non-pass-through) tax rate 7
desc: The tax rate applied to the portion of taxable income below tax
bracket 7 and above tax bracket 6.
baseline_value: 0.37
_PT_rt5 : 0.36
name: Pass-through income tax rate 5
desc: The third highest tax rate, applied to the portion of income from sole
proprietorships, partnerships and S-corporations below tax bracket 5
and above tax bracket 4.
baseline_value: 0.32
_PT_rt6 : 0.39
name: Pass-through income tax rate 6
desc: The second higher tax rate, applied to the portion of income from sole
proprietorships, partnerships and S-corporations below tax bracket 6
and above tax bracket 5.
baseline_value: 0.35
_PT_rt7 : 0.41
name: Pass-through income tax rate 7
desc: The highest tax rate, applied to the portion of income from sole
proprietorships, partnerships and S-corporations below tax bracket 7
and above tax bracket 6.
baseline_value: 0.37
2020_CLP_itax_rev($B)= 1413.43
2020_REF_itax_rev($B)= 1410.78
CLP diagnostic table:
2020
Returns (#m) 167.51
AGI ($b) 11,946.47
Itemizers (#m) 31.03
Itemized Deduction ($b) 872.79
Standard Deduction Filers (#m) 136.48
Standard Deduction ($b) 2,438.38
Personal Exemption ($b) 0.00
Taxable Income ($b) 9,126.24
Regular Tax ($b) 1,574.26
AMT Income ($b) 11,332.09
AMT Liability ($b) 1.83
AMT Filers (#m) 0.42
Tax before Credits ($b) 1,576.08
Refundable Credits ($b) 78.60
Nonrefundable Credits ($b) 93.69
Reform Surtaxes ($b) 0.00
Other Taxes ($b) 9.63
Ind Income Tax ($b) 1,413.43
Payroll Taxes ($b) 1,316.61
Combined Liability ($b) 2,730.03
With Income Tax <= 0 (#m) 60.37
With Combined Tax <= 0 (#m) 39.23
REF diagnostic table:
2020
Returns (#m) 167.51
AGI ($b) 11,946.47
Itemizers (#m) 30.95
Itemized Deduction ($b) 870.48
Standard Deduction Filers (#m) 136.56
Standard Deduction ($b) 2,439.80
Personal Exemption ($b) 327.45
Taxable Income ($b) 8,879.74
Regular Tax ($b) 1,569.19
AMT Income ($b) 11,334.04
AMT Liability ($b) 1.79
AMT Filers (#m) 0.42
Tax before Credits ($b) 1,570.97
Refundable Credits ($b) 81.35
Nonrefundable Credits ($b) 88.47
Reform Surtaxes ($b) 0.00
Other Taxes ($b) 9.63
Ind Income Tax ($b) 1,410.78
Payroll Taxes ($b) 1,316.61
Combined Liability ($b) 2,727.39
With Income Tax <= 0 (#m) 62.57
With Combined Tax <= 0 (#m) 39.56
Extract of 2020 distribution table by baseline expanded-income decile:
funits(#m) itax1($b) itax2($b) aftertax_inc1($b) aftertax_inc2($b)
0-10n 0.00 0.00 0.00 0.00 0.00
0-10z 0.00 0.00 0.00 0.00 0.00
0-10p 16.75 -4.25 -4.61 162.91 163.27
10-20 16.75 -1.72 -2.80 413.27 414.35
20-30 16.75 3.49 2.26 551.40 552.63
30-40 16.75 9.90 8.22 679.03 680.72
40-50 16.75 18.88 16.55 836.85 839.18
50-60 16.75 32.45 29.39 1,028.48 1,031.54
60-70 16.75 61.43 57.51 1,263.59 1,267.52
70-80 16.75 106.69 101.38 1,583.96 1,589.27
80-90 16.75 213.76 205.51 2,108.73 2,116.98
90-100 16.75 972.80 997.39 4,309.80 4,285.21
ALL 167.51 1,413.43 1,410.78 12,938.02 12,940.66
90-95 8.38 214.47 210.15 1,438.22 1,442.54
95-99 6.70 327.05 326.02 1,668.49 1,669.52
Top 1% 1.68 431.28 461.22 1,203.09 1,173.15
Extract of 2020 income-tax difference table by expanded-income decile:
funits(#m) agg_diff($b) mean_diff($) aftertaxinc_diff(%)
0-10n 0.00 0.00 0.00 nan
0-10z 0.00 0.00 0.00 nan
0-10p 16.75 -0.37 -21.82 0.22
10-20 16.75 -1.08 -64.24 0.26
20-30 16.75 -1.23 -73.54 0.22
30-40 16.75 -1.68 -100.58 0.25
40-50 16.75 -2.33 -139.01 0.28
50-60 16.75 -3.06 -182.61 0.30
60-70 16.75 -3.93 -234.50 0.31
70-80 16.75 -5.31 -316.82 0.34
80-90 16.75 -8.25 -492.52 0.39
90-100 16.75 24.59 1,467.69 -0.57
ALL 167.51 -2.65 -15.79 0.02
90-95 8.38 -4.32 -515.68 0.30
95-99 6.70 -1.03 -153.88 0.06
Top 1% 1.68 29.94 17,871.04 -2.49