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Distribution of the tax benefits of retirement savings incentives measured using a cash flow approach that compares current law with a proposal that would (a) repeal the tax deferral of contributions to retirement accounts, accruals in IRAs, Keogh, and both defined contribution and defined benefit retirement plans; (b) repeal the saver's credit; (c) repeal exemption of income accrued within accounts; and (d) repeal tax on withdrawals from accounts as well as the early withdrawal penalty. Baseline federal tax burden differs from standard TPC tables in that tax incentives for retirement are treated on a cash flow rather than present value basis. Table shows the impact by income level under current law in 2016.
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T16-0141 - Tax Benefit of the Partial Exclusion of Social Security Benefits by Expanded Cash Income Level, 2016
T16-0162 - Tax Benefit for the Deduction and Refund for State and Local Taxes by Expanded Cash Income Percentile, 2016
T16-0157 - Tax Benefit of Education credits and Student Loan Interest Deduction by Expanded Cash Income Level, 2016
T16-0142 - Tax Benefit of the Exclusion of Employer-Sponsored Health Benefits and Deduction for Self-Employed Health Insurance Premiums by Expanded Cash Income Level, 2016
T16-0144 - Tax Benefit of Certain Retirement Savings Incentives (Present-Value Approach) by Expanded Cash Income Level, 2016
T16-0145 - Tax Benefit of the Deduction and Refund for State and Local Taxes by Expanded Cash Income Level, 2016
T16-0146 - Tax Benefit of the Deduction for Property Tax by Expanded Cash Income Level, 2016
T16-0147 - Tax Benefit of the Deduction for Home Mortgage Interest by Expanded Cash Income Level, 2016
T16-0148 - Tax Benefit of the Deductions for Home Mortgage Interest and Property Tax by Expanded Cash Income Level, 2016
T16-0149 - Tax Benefit of the Deduction for Charitable Contributions by Expanded Cash Income Level, 2016
T16-0150 - Tax Benefit of the Preferential Rates on Long-Term Capital Gains and Qualified Dividends by Expanded Cash Income Level, 2016
T16-0151 - Repeal Preferential Rates and Portion of 3.8 Percent Surtax Applying to Long-Term Capital Gains and Qualified Dividends by Expanded Cash Income Level, 2016
T16-0152 - Repeal 3.8 Percent Surtax on Net Investment Income by Expanded Cash Income Level, 2016
T16-0153 - Tax Benefit of the Child Tax Credit by Expanded Cash Income Level, 2016
T16-0154 - Tax Benefit of the Child and Dependent Care Credit by Expanded Cash Income Level, 2016
T16-0155 - Tax Benefit of the Earned Income Tax Credit by Expanded Cash Income Level, 2016
T16-0156 - Tax Benefit of the Child Tax Credit, Child and Dependent Care Tax Credit, Earned Income Tax Credit by Expanded Cash Income Level, 2016
