Tax Policy Center

Fiscal Facts

E.g., 11/21/2019
E.g., 11/21/2019
The estate tax exemption's real value has grown markedly over time (to nearly $5.5M in 2016). Most of the increase has occurred since 2000.

November 6, 2017

November 6, 2017
The personal exemption for married couples was $8.1k in 2016, twice the 1913 nominal value of $4k but just a twelfth of its $97k real value.

October 30, 2017

October 30, 2017
WWII turned the individual income tax into a major revenue source – it made up 15% of Federal revenues in 1935 and made up 47% in 2015.

October 23, 2017

October 23, 2017
Over 27 million families claimed the EITC in 2015; those with AGI between $15K and $20K received the largest average credit--about $4200.

October 16, 2017

October 16, 2017
Business income dropped 17% between 2006 and 2009, recovered that loss by 2011, and was 36% higher in 2015, totaling $961 billion that year.

October 9, 2017

October 9, 2017
3,000 individual income tax filers with AGI over $200k owed no tax in 2004, this number rose to 20,000 by 2012, and fell to 11,000 in 2014.

October 2, 2017

October 2, 2017
U.S federal, state, and local taxes totaled 26.4 percent of GDP in 2015, nearly 8 percentage points below the 34.3 percent OECD average.

September 25, 2017

September 25, 2017
The number of childless households headed by a person over 65 increased 77 percent between 1979 and 2013, from 16.5 million to 29.2 million.

September 18, 2017

September 18, 2017
In 2017, 10 states set top unemployment taxes at 5.4% (the max federal credit rate). All other states set higher rates with seven over 10%.

September 11, 2017

September 11, 2017
Between 1979 and 2013, the average tax burden ranged between 17.3% (2009) and 22.8% (2000). The 2013 value was right in the middle: 20.1%.

September 4, 2017

September 4, 2017
In constant 2014 dollars, the average EITC recipient received $2,400 in 2014, four times the amount received in 1983.

August 28, 2017

August 28, 2017
The 10% of households with the highest incomes bore over 50% of federal tax liabilities each year from 2004-2013.

August 21, 2017

August 21, 2017
In constant 2014 dollars, state and local tobacco tax revenue peaked at $19 billion in 2012.

August 14, 2017

August 14, 2017
Since World War II ended, the top individual income tax rate has ranged from 28 percent to 92 percent. The top rate is now 39.6 percent.

August 7, 2017

August 7, 2017
Unlike all other OECD countries, which levy VATs at rates ranging from 5 to 27 percent (ignoring subnational rates), the US has no VAT.

July 31, 2017

July 31, 2017