recipe02_res.html

<title>recipe02.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.
You loaded data for 2014.
Tax-Calculator startup automatically extrapolated your data to 2014.
2020_CURRENT_LAW_P__itax_rev($B)= 1447.348
2020_REFORM_STATIC__itax_rev($B)= 1443.743
2020_REFORM_DYNAMIC_itax_rev($B)= 1433.640

DIAGNOSTIC TABLE FOR BASELINE
                                     2020       2021       2022
Returns (#m)                      167.510    169.750    171.930
AGI ($b)                        12109.411  12655.046  13180.408
Itemizers (#m)                     32.050     33.210     34.320
Itemized Deduction ($b)           902.537    961.372   1020.720
Standard Deduction Filers (#m)    135.470    136.530    137.610
Standard Deduction ($b)          2420.211   2494.978   2571.343
Personal Exemption ($b)             0.000      0.000      0.000
Taxable Income ($b)              9272.044   9706.177  10119.075
Regular Tax ($b)                 1606.637   1693.978   1775.247
AMT Income ($b)                 11474.939  11978.534  12461.377
AMT Liability ($b)                  1.405      1.403      1.399
AMT Filers (#m)                     0.280      0.270      0.280
Tax before Credits ($b)          1608.042   1695.381   1776.646
Refundable Credits ($b)            77.664     78.142     79.485
Nonrefundable Credits ($b)         94.005     95.409     96.668
Reform Surtaxes ($b)                0.000      0.000      0.000
Other Taxes ($b)                   10.974     11.480     11.975
Ind Income Tax ($b)              1447.348   1533.310   1612.467
Payroll Taxes ($b)               1323.691   1381.123   1436.210
Combined Liability ($b)          2771.039   2914.433   3048.677
With Income Tax <= 0 (#m)          59.970     60.550     61.130
With Combined Tax <= 0 (#m)        38.980     39.670     40.430
DIAGNOSTIC TABLE FOR REFORM EXCLUDING BEHAVIORAL RESPONSES
                                     2020       2021       2022
Returns (#m)                      167.510    169.750    171.930
AGI ($b)                        12109.411  12655.046  13180.408
Itemizers (#m)                     31.970     33.140     34.240
Itemized Deduction ($b)           900.224    958.657   1017.703
Standard Deduction Filers (#m)    135.540    136.610    137.690
Standard Deduction ($b)          2421.571   2496.466   2573.093
Personal Exemption ($b)           333.334    345.010    356.808
Taxable Income ($b)              9019.038   9444.178   9848.150
Regular Tax ($b)                 1600.587   1689.791   1772.489
AMT Income ($b)                 11476.890  11980.845  12463.925
AMT Liability ($b)                  1.397      1.393      1.387
AMT Filers (#m)                     0.290      0.290      0.280
Tax before Credits ($b)          1601.985   1691.184   1773.877
Refundable Credits ($b)            80.415     80.945     82.575
Nonrefundable Credits ($b)         88.801     90.142     91.342
Reform Surtaxes ($b)                0.000      0.000      0.000
Other Taxes ($b)                   10.974     11.480     11.975
Ind Income Tax ($b)              1443.743   1531.576   1611.935
Payroll Taxes ($b)               1323.691   1381.123   1436.210
Combined Liability ($b)          2767.434   2912.699   3048.145
With Income Tax <= 0 (#m)          62.220     62.730     63.340
With Combined Tax <= 0 (#m)        39.300     40.030     40.860
DIAGNOSTIC TABLE FOR REFORM INCLUDING BEHAVIORAL RESPONSES
                                     2020       2021       2022
Returns (#m)                      167.510    169.750    171.930
AGI ($b)                        12087.626  12630.858  13153.899
Itemizers (#m)                     31.940     33.090     34.210
Itemized Deduction ($b)           899.061    957.247   1016.390
Standard Deduction Filers (#m)    135.570    136.650    137.720
Standard Deduction ($b)          2422.137   2497.238   2573.693
Personal Exemption ($b)           333.334    345.010    356.808
Taxable Income ($b)              8997.708   9420.504   9822.180
Regular Tax ($b)                 1590.635   1678.936   1760.735
AMT Income ($b)                 11456.043  11957.779  12438.509
AMT Liability ($b)                  1.425      1.414      1.446
AMT Filers (#m)                     0.300      0.300      0.290
Tax before Credits ($b)          1592.060   1680.350   1762.182
Refundable Credits ($b)            80.129     80.661     82.311
Nonrefundable Credits ($b)         89.042     90.383     91.577
Reform Surtaxes ($b)                0.000      0.000      0.000
Other Taxes ($b)                   10.751     11.241     11.711
Ind Income Tax ($b)              1433.640   1520.547   1600.004
Payroll Taxes ($b)               1323.424   1380.761   1435.772
Combined Liability ($b)          2757.064   2901.308   3035.776
With Income Tax <= 0 (#m)          62.060     62.540     63.160
With Combined Tax <= 0 (#m)        39.190     39.890     40.760
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