Individual Taxes: Alternative Minimum Tax

T06-0081 - Possible Elements of 2006 Tax Reconciliation Bill: Increase AMT Exemption and Allow Credits Against AMT, Distribution of Federal Tax Change by Cash Income Class, 2006

A likely element of the tax reconciliation bill being negotiated between the House and Senate is AMT relief. This table shows effects of increasing the AMT exemption to $62,550 for married couples filing a joint return, $42,500 for singles and heads of household, and $31,275 for married individuals
May 8, 2006
Individual Taxes: Alternative Minimum Tax

T06-0082 - Possible Elements of 2006 Tax Reconciliation Bill: Increase AMT Exemption and Allow Credits Against AMT, Distribution of Federal Tax Change by Cash Income Percentile, 2006

A likely element of the tax reconciliation bill being negotiated between the House and Senate is AMT relief. This table shows effects of increasing the AMT exemption to $62,550 for married couples filing a joint return, $42,500 for singles and heads of household, and $31,275 for married individuals
May 8, 2006
Individual Taxes

T06-0084 - Possible Elements of 2006 Tax Reconciliation Bill, Illustrative Change in Income Taxes from Roth Conversion Provision in Reported Tax Reconciliation Agreement, 2011 to 2049

The tax reconciliation bill being negotiated between the House and Senate is reported to include the elimination of income limitations on Roth IRA contributions and the elimination of income limitations on Roth IRA conversions. This table shows the annual revenue change resulting from the Roth
May 8, 2006
Federal Budget and Economy: Research report

The U.S. Tax Burden Is Low Relative to Other OECD Countries

The United States raises less tax revenue as a percentage of gross domestic product (GDP) than most other countries in the Organization for Economic Co-operation and Development (OECD). In 2003, taxes in the United States, including all levels of government, amounted to 25.6 percent of GDP,
May 8, 2006Sonya HooEric Toder
Individual Taxes: Alternative Minimum Tax

T06-0079 - Effective Marginal Tax Rates on Long Term Capital Gains and Dividends, For Taxpayers with Alternative Minimum Tax Liability, 2006

This table shows the distribution of effective marginal rates on capital gains and dividends for tax units with AMT liability in 2006, including what percentage of tax units are not at the 15 percent rate because of interaction with the AMT exemption phase-out.
May 4, 2006
Individual Taxes: Alternative Minimum Tax

T06-0080 - Effective Marginal Tax Rates on Long Term Capital Gains and Dividends, For Taxpayers with Alternative Minimum Tax Liability, 2010

This table shows the distribution of effective marginal rates on capital gains and dividends for tax units with AMT liability in 2010, including what percentage of tax units are not at the 15 percent rate because of interaction with the AMT exemption phase-out.
May 4, 2006
Federal Budget and Economy: Testimony

The Widespread Prevalence of Marriage Penalties

Testimony Before the Subcommittee on the District of Columbia, Committee on Appropriations, United States Senate
Citizens pay an overall marriage penalty when their combined social welfare benefits less taxes are lower when they are a married couple than when they are two single individuals. Because marriage is optional, marriage penalties or subsidies are assessed primarily for taking wedding vows, not for
May 3, 2006C. Eugene Steuerle
Individual Taxes

T06-0075 - Possible Elements of 2006 Tax Reconciliation Bill, Eliminate Income Limitation on Roth IRA Contributions, Distribution of Federal Tax Change by Cash Income Class, 2006

A reported component of the tax reconciliation bill being negotiated between the House and Senate is the elimination of income limitations on Roth IRA contributions, effective January 1, 2006. Under current law, the income limits are $4,000 for an individual and $8,000 for a couple in 2006, and $5,
May 2, 2006
Individual Taxes

T06-0076 - Possible Elements of 2006 Tax Reconciliation Bill, Eliminate Income Limitation on Roth IRA Contributions, Distribution of Federal Tax Change by Cash Income Percentile, 2006

A reported component of the tax reconciliation bill being negotiated between the House and Senate is the elimination of income limitations on Roth IRA contributions, effective January 1, 2006. Under current law, the income limits are $4,000 for an individual and $8,000 for a couple in 2006, and $5,
May 2, 2006
Individual Taxes

T06-0077 - Possible Elements of 2006 Tax Reconciliation Bill, Eliminate Income Limitation on Roth IRA Contributions and Allow Conversions Regardless of Income, Distribution of Federal Tax Change by Cash Income Class, 2006

The tax reconciliation bill being negotiated between the House and Senate is reported to include the elimination of income limitations on Roth IRA contributions and the elimination of income limitations on Roth IRA conversions. Under current law, the income limits to Roth IRA contributions are $4,
May 2, 2006
Individual Taxes

T06-0078 - Possible Elements of 2006 Tax Reconciliation Bill, Eliminate Income Limitation on Roth IRA Contributions and Allow Conversions Regardless of Income, Distribution of Federal Tax Change by Cash Income Percentile, 2006

The tax reconciliation bill being negotiated between the House and Senate is reported to include the elimination of income limitations on Roth IRA contributions and the elimination of income limitations on Roth IRA conversions. Under current law, the income limits to Roth IRA contributions are $4,
May 2, 2006
Individual Taxes

T06-0071 - IRA Conversion Provision Fully-Phased In Impact at 2006 Income Levels, Distribution of Federal Tax Change by Cash Income Class

A reported element of the 2006 tax reconciliation bill would allow taxpayers to roll over traditional IRAs into Roth IRAs in 2010 regardless of their incomes and pay the tax in two installments in 2011 and 2012. Under current law, taxpayers can only elect to convert their IRAs if their incomes are
May 1, 2006
Individual Taxes

T06-0072 - IRA Conversion Provision Fully-Phased In Impact at 2006 Income Levels, Distribution of Federal Tax Change by Cash Income Percentile

A reported element of the 2006 tax reconciliation bill would allow taxpayers to roll over traditional IRAs into Roth IRAs in 2010 regardless of their incomes and pay the tax in two installments in 2011 and 2012. Under current law, taxpayers can only elect to convert their IRAs if their incomes are
May 1, 2006
Individual Taxes: Alternative Minimum Tax

T06-0073 - Possible Major Individual Income Tax Provisions in 2006 Tax Reconciliation Bill Fully-Phased In Impact at 2006 Income Levels, Distribution of Federal Tax Change by Cash Income Class

The House and Senate are negotiating a tax cut package for 2006. This table shows the distribution of benefits by income percentile for the following reported components of the package: increasing the exemption levels for the Alternative Minimum Tax, extending the dividends and capital gains tax
May 1, 2006
Individual Taxes: Alternative Minimum Tax

T06-0074 - Possible Major Individual Income Tax Provisions in 2006 Tax Reconciliation Bill Fully-Phased In Impact at 2006 Income Levels, Distribution of Federal Tax Change by Cash Income Percentile

The House and Senate are negotiating a tax cut package for 2006. This table shows the distribution of benefits by income percentile for the following reported components of the package: increasing the exemption levels for the Alternative Minimum Tax, extending the dividends and capital gains tax
May 1, 2006
Federal Budget and Economy: Brief

Dynamic Scoring: Not so Fast!

Using dynamic scoring to weigh the effects of tax and spending proposals poses a high risk that ideological biases will pollute the analysis, senior fellow Rudolph Penner warns in a Ripon Forum commentary. The former director of the Congressional Budget Office also points out that consistent
April 21, 2006Rudolph G. Penner
Individual Taxes: Brackets

Individual Income Tax Entry Thresholds 1980-2011

income tax entry thresholds after credits for married and single filers, with and without children
April 17, 2006
Federal Budget and Economy: Research report

New Estimates of the Budget Outlook

Plus Ça Change, Plus C'est la Même Chose
Despite substantial attention given to fiscal policy concerns in recent years, the federal government's fiscal status has continued to deteriorate, with the enactment of tax cuts, a massive new Medicare entitlement, increased spending on defense and homeland security, and related economic
April 17, 2006Alan J. AuerbachWilliam G. GalePeter Orszag
Federal Budget and Economy: Research report

Reform and Equal Justice

Anyone familiar with tax and expenditure legislation knows full well that interest groups constantly win special favors from federal and state legislators. For a long time I have struggled with how to make better use of the principle of equal justice to restrain or eliminate bad policy. Here are a
April 17, 2006C. Eugene Steuerle
Federal Budget and Economy: Commentary

Working to Fix our Fiscal Woes

Work may be a four-letter word to some citizens in slow-growing Western European economies, but Americans know better. Senior fellow Eugene Steuerle explains why our work habits are suddenly so important.
April 14, 2006C. Eugene Steuerle
Federal Budget and Economy: Research report

Education Spending and Changing Revenue Sources

School districts in 37 states are "independent" and able to generate their own revenues, usually by setting property tax rates. Some school districts in other states are dependent on cities, towns or counties for funding authority. In addition, school districts have increasingly been dependent on
April 10, 2006Sonya HooSheila Murray
Federal Budget and Economy: Research report

Do Incentives Affect Behavior? Would an Economist Know?

In recent decades, economists have acquired great weight in debates over incentives. When it comes to examining the effect of policy incentives on behavior, the theory is relatively straightforward. However, many factors, especially non-financial, have been ignored for sometimes very legitimate
April 3, 2006C. Eugene Steuerle
Individual Taxes: Current Law

T06-0070 - Earned Income Tax Credit Projections, 2005-2006

2005-06, Earned Income Tax Credit Projections, Returns and Amounts
March 27, 2006
Federal Budget and Economy: Revenue Raising Options

T06-0058 - Imposition of $10,000 Limit on Individual Income Tax Cuts, Distribution of Federal Tax Change by Cash Income Class, 2007

2007, Impose $10,000 Limit on Individual Income Tax Cuts in EGTRRA, JGTRRA, and WFTRA With Extension of 2005 AMT Relief, Indexed for Inflation, Distribution of Federal Tax Change by Cash Income Class
March 22, 2006
Federal Budget and Economy: Revenue Raising Options

T06-0059 - Imposition of $10,000 Limit on Individual Income Tax Cuts, Distribution of Federal Tax Change by Cash Income Percentile, 2007

2007, Impose $10,000 Limit on Individual Income Tax Cuts in EGTRRA, JGTRRA, and WFTRA With Extension of 2005 AMT Relief, Indexed for Inflation, Distribution of Federal Tax Change by Cash Income Percentile
March 22, 2006