Examines how effective federal tax rates will change over the coming decade under current law -- that is, if the provisions of tax laws enacted in 2001, 2002, a 2003 phase in, phase out, a AisunsetAi as scheduled. Under current law a the assumption that incomes grow at a constant rate, the overall effective federal tax rate drops from 21.5% in 2001 to 19.6% in 2004. It then rises irregularly over the subsequent decade as tax provisions phase in a out. The increases in the effective tax rate between 2005 a 2010 a between 2011 a 2014 occur primarily because rising real incomes move taxpayers into higher tax brackets a the alternative minimum tax affects more taxpayers over time. Charts a tables.To ease marriage penalties, the law widened the 1 5 percent tax bracket for joint filers from 167 percent of the bracket for single filers to twice ... percent of the adjusted basis for certain property for the tax year in which it was placed in service.
|Title||:||Effective Federal Tax Rates Under Current Law, 2001 To 2004|
|Publisher||:||DIANE Publishing - 2008-01-01|