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recipe00_res.html
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recipe00_res.html
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<title>recipe00.res</title><pre>
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
Baseline Growth-Difference Assumption Values by Year:
none: using default baseline growth assumptions
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($B)= 1447.348
2020_REF_itax_rev($B)= 1443.743
CLP diagnostic table:
2020
Returns (#m) 167.510
AGI ($b) 12109.411
Itemizers (#m) 32.050
Itemized Deduction ($b) 902.537
Standard Deduction Filers (#m) 135.470
Standard Deduction ($b) 2420.211
Personal Exemption ($b) 0.000
Taxable Income ($b) 9272.044
Regular Tax ($b) 1606.637
AMT Income ($b) 11474.939
AMT Liability ($b) 1.405
AMT Filers (#m) 0.280
Tax before Credits ($b) 1608.042
Refundable Credits ($b) 77.664
Nonrefundable Credits ($b) 94.005
Reform Surtaxes ($b) 0.000
Other Taxes ($b) 10.974
Ind Income Tax ($b) 1447.348
Payroll Taxes ($b) 1323.691
Combined Liability ($b) 2771.039
With Income Tax <= 0 (#m) 59.970
With Combined Tax <= 0 (#m) 38.980
REF diagnostic table:
2020
Returns (#m) 167.510
AGI ($b) 12109.411
Itemizers (#m) 31.970
Itemized Deduction ($b) 900.224
Standard Deduction Filers (#m) 135.540
Standard Deduction ($b) 2421.571
Personal Exemption ($b) 333.334
Taxable Income ($b) 9019.038
Regular Tax ($b) 1600.587
AMT Income ($b) 11476.890
AMT Liability ($b) 1.397
AMT Filers (#m) 0.290
Tax before Credits ($b) 1601.985
Refundable Credits ($b) 80.415
Nonrefundable Credits ($b) 88.801
Reform Surtaxes ($b) 0.000
Other Taxes ($b) 10.974
Ind Income Tax ($b) 1443.743
Payroll Taxes ($b) 1323.691
Combined Liability ($b) 2767.434
With Income Tax <= 0 (#m) 62.220
With Combined Tax <= 0 (#m) 39.300
Extract of 2020 distribution table by baseline expanded-income decile:
funits(#m) itax1($b) itax2($b) aftertax_inc1($b) aftertax_inc2($b)
0-10n 0.05 0.007 0.007 -14.435 -14.435
0-10z 0.93 0.000 0.000 -0.000 -0.000
0-10p 15.77 -4.224 -4.588 176.333 176.697
10-20 16.75 -1.588 -2.657 415.040 416.109
20-30 16.75 3.706 2.464 553.009 554.251
30-40 16.75 10.033 8.338 681.747 683.442
40-50 16.75 19.472 17.108 839.630 841.993
50-60 16.75 33.183 30.100 1032.450 1035.533
60-70 16.75 62.473 58.499 1270.002 1273.976
70-80 16.75 108.590 103.219 1594.096 1599.467
80-90 16.75 218.186 209.884 2126.428 2134.730
90-100 16.75 997.510 1021.368 4384.605 4360.747
ALL 167.51 1447.348 1443.743 13058.905 13062.510
90-95 8.38 218.019 213.730 1454.483 1458.772
95-99 6.70 333.136 331.816 1692.273 1693.593
Top 1% 1.68 446.355 475.822 1237.848 1208.382
Extract of 2020 income-tax difference table by expanded-income decile:
funits(#m) agg_diff($b) mean_diff($) aftertaxinc_diff(%)
0-10n 0.05 0.000 4.5 0.0
0-10z 0.93 0.000 0.0 0.0
0-10p 15.77 -0.364 -23.1 0.2
10-20 16.75 -1.069 -63.8 0.3
20-30 16.75 -1.242 -74.2 0.2
30-40 16.75 -1.694 -101.2 0.2
40-50 16.75 -2.363 -141.1 0.3
50-60 16.75 -3.083 -184.1 0.3
60-70 16.75 -3.974 -237.2 0.3
70-80 16.75 -5.371 -320.6 0.3
80-90 16.75 -8.302 -495.6 0.4
90-100 16.75 23.858 1424.2 -0.5
ALL 167.51 -3.604 -21.5 0.0
90-95 8.38 -4.289 -512.1 0.3
95-99 6.70 -1.320 -197.0 0.1
Top 1% 1.68 29.466 17578.2 -2.4
</pre>