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Distributional Effects of the TCJA: An Intragenerational Accounting - - PowerPoint PPT Presentation
Distributional Effects of the TCJA: An Intragenerational Accounting - - PowerPoint PPT Presentation
Distributional Effects of the TCJA: An Intragenerational Accounting Framework Alan Auerbach May 14, 2020 Application: Tax Reform How progressive/regressive was the Tax Cuts and Jobs Act? Application: Tax Reform How
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Application: Tax Reform
- How progressive/regressive was the Tax Cuts
and Jobs Act?
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Application: Tax Reform
- How progressive/regressive was the Tax Cuts
and Jobs Act?
- Differences across cohorts in degree of
progressivity
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Tax Rate Reductions
20-79 Years Olds 40-49 Year Olds Current Year Lifetime Current Year Lifetime Q1 1.4 0.8 1.6 1.1 Q2 1.6 1.3 1.4 1.5 Q3 1.7 1.5 1.4 1.7 Q4 1.7 1.6 1.4 1.6 Q5 1.2 1.2 1.3 1.3 P5 1.0 1.1 1.2 1.2 P1 0.6 0.8 0.6 0.8
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Application: Tax Reform
- How progressive/regressive was the Tax Cuts
and Jobs Act?
- Differences across cohorts in degree of
progressivity
- Within cohorts lifetime measure somewhat
more regressive
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Tax Rate Reductions
20-79 Years Olds 40-49 Year Olds Current Year Lifetime Current Year Lifetime Q1 1.4 0.8 1.6 1.1 Q2 1.6 1.3 1.4 1.5 Q3 1.7 1.5 1.4 1.7 Q4 1.7 1.6 1.4 1.6 Q5 1.2 1.2 1.3 1.3 P5 1.0 1.1 1.2 1.2 P1 0.6 0.8 0.6 0.8