The tables below analyze several options to increase taxes on high-income households. The options include
(1) a "Buffett rule" imposing a 30 percent minimum effective tax rate on those earning more than $1 million;
(2) a new tax bracket for millionaires;
(3) limiting the tax savings from itemized deductions to 28 percent;
(4) an effective minimum tax of 27 percent against current law and 21 percent against current policy; and
(5) limiting the tax savings from selected tax expenditures to 2 percent of AGI.
The tables include distributional estimates for 2013 and 2015, as well as ten-year microdynamic revenue estimates, against both current law and current policy baselines.
| Buffett Rule
S. 2059: Paying a Fair Share Act of 2012 |
Distribution of Federal Tax Change |
| 2015 versus Current Law | | 2015 versus Current Policy |
| | | | | |
Distribution of Effective Tax Rates as Defined by the Paying a Fair Share Act |
| | | |
Distribution of Effective Marginal Tax Rates |
| |
Revenue Estimate of Replacing the AMT with the Buffett Rule |
| |
Senate Version of American Jobs Act of 2011 |
Distribution of 5.6% Surtax on Millionaires |
| 2013 versus Current Law |
| | | |
| |
Distribution of Limiting the Tax Savings from Itemized Deductions to 28% |
| 2013 versus Current Law | | 2013 versus Current Policy |
| | | | | |
Distribution of a 27% Effective Minimum Tax |
| 2013 versus Current Law |
| | | |
Distribution of a 21% Effective Minimum Tax |
| 2013 versus Current Policy |
| | | |
Distribution of Capping Tax Savings from Selected Tax Expenditures at 2% of AGI |
| 2013 versus Current Law | | 2013 versus Current Policy |
| | | | | |
Revenue Estimates of Limiting Itemized Deductions to 28%, Effective Minimum Tax, and 2%-of-AGI Tax Expenditure Cap |
| |
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