Publications by Topic
Topic:
Individual Alternative Minimum Tax
Top Individual Income Tax Rates: How Does the U.S. Compare? (Article/Tax Facts)
Jim Nunns
Discussions of the effect of taxes on international competitiveness usually focus on corporate income tax rates, but individual income tax rates may also affect a country’s (or state’s) ability to compete for workers.
Published: 04/03/13
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Taxing the Wealthiest Could Go a Long Way (Commentary)
William G. Gale
In a contribution to The New York Times' Room for Debate, Bill Gale responds to the question: can policy makers make a dent in the deficit without affecting the majority of taxpayers?
Published: 12/05/12
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Why We May Have to go Over the Fiscal Cliff (Commentary)
William G. Gale
In a contribution to USA Today, Bill Gale asserts that going over the cliff might be the only way to stimulate the economy and implement gradual, balanced fiscal consolidation over the next decade.
Published: 11/30/12
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Who Itemizes Deductions? (Article/Tax Facts)
Daniel Baneman ,
Benjamin H. Harris
Many taxpayers can lower their taxable income by itemizing deductions, which in turn lowers tax liability. Itemized deductions reduce tax burdens for taxpayers with decreased ability to pay taxes, such as those experiencing a catastrophic loss, or for taxpayers who spent funds on activities the tax code deems worthwhile, such as contributing to charity. In recent years, the largest itemized deductions were those for mortgage interest paid, state and local taxes paid, and charitable contributions.
Published: 01/20/11
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Held Harmless by Higher Income Tax Rates? (Article/Tax Facts)
Rachel M. Johnson ,
Eric Toder
In 2010, 45 percent of tax returns will either remit no federal income tax or receive a net tax refund. But this figure overstates the share of taxpayers who would be unaffected by higher income tax rates. Raising all rates by 1 percent would hold only 34 percent of tax returns harmless; others would either pay higher taxes or receive smaller net rebates.
Published: 03/04/10
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The Opacity of Marginal Tax Rates (Article/Tax Facts)
Rosanne Altshuler ,
Jacob Goldin
Suppose that a taxpayer earns an additional dollar of
income. How much tax would she owe on that dollar? A
natural way to answer this question would be to look up
the taxpayer’s statutory tax rate - the tax rate corresponding
to her tax bracket and filing status.
Published: 10/21/09
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The Individual Alternative Minimum Tax: Historical Data and Projections, Updated October 2009 (Research Report)
Katherine Lim ,
Jeff Rohaly
The alternative minimum tax (AMT), which originally targeted high-income taxpayers, requires annual legislation to prevent it from affecting millions of middle-income individuals each year. There are two primary reasons for the AMT’s broadening impact; its parameters are not indexed for inflation and the 2001-2006 tax cuts reduced regular tax liability without changing AMT liability. In 2009, four million taxpayers will pay $33.5 billion in AMT, but without congressional action that number will rise to 27 million owing $102 billion in 2010. This paper describes the AMT and provides TPC’s latest estimates of AMT coverage, revenue, and distribution.
Published: 10/05/09
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