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Detailed Single Year Tables
Taxation of Benefits

Description of Proposed Provision:
H3: Starting in 2018, modify personal income tax by: (a) establishing two-brackets with marginal rates of 15 and 27 percent separated at $51,000 (CPI indexed); (b) creating a non-refundable credit for low-income tax filers age 65 and older; and (c) treating capital gains as regular income. Tax all Social Security benefits at the applicable marginal rate (15 or 27 percent) less 7.5 percent, with 60 percent of this revenue going to OASDI and 40 percent going to HI.

 

Financial Estimates for the OASDI Trust Fund Program
 
  Proposal
   Change from Present Law
  Expressed as a percentage of
present-law taxable payroll

 Trust fund
ratio as of
January 1		 Expressed as a percentage of
present-law taxable payroll
Calendar
year		 Cost
rate		 Income
rate		 Annual
balance
Cost
rate		 Income
rate		 Annual
balance
201614.0512.94-1.10
303
0.000.000.00
201713.7212.92-0.80
293
0.000.000.00
201813.8613.07-0.78
277
0.000.120.12
201913.9913.07-0.92
262
0.000.100.10
202014.1313.07-1.06
248
0.000.090.09
202114.2713.08-1.19
234
0.000.080.08
202214.4913.10-1.39
218
0.000.070.07
202314.7613.12-1.64
203
0.000.060.06
202415.0213.14-1.89
186
0.000.040.04
202515.2913.14-2.14
169
0.000.030.03
202615.4713.15-2.32
152
0.000.020.02
202715.6513.16-2.49
136
0.000.020.02
202815.8113.17-2.64
119
0.000.010.01
202915.9713.18-2.79
102
0.000.010.01
203016.1013.18-2.92
85
0.000.000.00
203116.2213.19-3.03
68
0.000.000.00
203216.3313.20-3.13
50
0.000.000.00
203316.4113.20-3.21
31
0.00-0.01-0.01
203416.4613.20-3.26
13
0.00-0.01-0.01
203516.5013.20-3.29
----
0.00-0.01-0.01
203616.5613.21-3.35
----
0.00-0.02-0.02
203716.6013.21-3.39
----
0.00-0.02-0.02
203816.6113.21-3.40
----
0.00-0.02-0.02
203916.6113.21-3.40
----
0.00-0.02-0.02
204016.5913.21-3.38
----
0.00-0.02-0.02
204116.5613.21-3.36
----
0.00-0.03-0.03
204216.5313.20-3.33
----
0.00-0.03-0.03
204316.5013.20-3.30
----
0.00-0.03-0.03
204416.4713.20-3.27
----
0.00-0.03-0.03
204516.4513.20-3.25
----
0.00-0.03-0.03
204616.4313.20-3.23
----
0.00-0.03-0.03
204716.4013.20-3.20
----
0.00-0.03-0.03
204816.3913.20-3.19
----
0.00-0.03-0.03
204916.3713.20-3.17
----
0.00-0.04-0.04
205016.3613.20-3.16
----
0.00-0.04-0.04
205116.3613.20-3.16
----
0.00-0.04-0.04
205216.3713.20-3.17
----
0.00-0.04-0.04
205316.3913.20-3.20
----
0.00-0.04-0.04
205416.4213.20-3.22
----
0.00-0.04-0.04
205516.4613.20-3.26
----
0.00-0.04-0.04
205616.5113.20-3.30
----
0.00-0.04-0.04
205716.5613.21-3.35
----
0.00-0.04-0.04
205816.6113.21-3.40
----
0.00-0.04-0.04
205916.6613.21-3.44
----
0.00-0.05-0.05
206016.7113.21-3.49
----
0.00-0.05-0.05
206116.7613.22-3.54
----
0.00-0.05-0.05
206216.8113.22-3.59
----
0.00-0.05-0.05
206316.8613.22-3.63
----
0.00-0.05-0.05
206416.9113.23-3.68
----
0.00-0.05-0.05
206516.9613.23-3.73
----
0.00-0.05-0.05
206617.0113.23-3.78
----
0.00-0.05-0.05
206717.0613.23-3.83
----
0.00-0.05-0.05
206817.1113.24-3.88
----
0.00-0.05-0.05
206917.1713.24-3.93
----
0.00-0.05-0.05
207017.2213.24-3.98
----
0.00-0.06-0.06
207117.2613.24-4.02
----
0.00-0.06-0.06
207217.3013.25-4.06
----
0.00-0.06-0.06
207317.3413.25-4.09
----
0.00-0.06-0.06
207417.3713.25-4.12
----
0.00-0.06-0.06
207517.3913.25-4.14
----
0.00-0.06-0.06
207617.4013.25-4.15
----
0.00-0.06-0.06
207717.4113.25-4.16
----
0.00-0.06-0.06
207817.4113.25-4.16
----
0.00-0.06-0.06
207917.4113.25-4.15
----
0.00-0.06-0.06
208017.4013.25-4.15
----
0.00-0.06-0.06
208117.4013.25-4.15
----
0.00-0.06-0.06
208217.4113.25-4.15
----
0.00-0.06-0.06
208317.4213.25-4.17
----
0.00-0.06-0.06
208417.4413.25-4.19
----
0.00-0.06-0.06
208517.4713.25-4.21
----
0.00-0.06-0.06
208617.5013.26-4.25
----
0.00-0.06-0.06
208717.5413.26-4.28
----
0.00-0.06-0.06
208817.5913.26-4.32
----
0.00-0.06-0.06
208917.6313.26-4.37
----
0.00-0.06-0.06
209017.6813.27-4.41
----
0.00-0.06-0.06
209117.7213.27-4.45
----
0.00-0.06-0.06



 

Summarized Estimates
 
  Proposal
   Change from Present Law
Years Cost
rate		 Income
rate		 Actuarial
balance
Year of reserve
depletion1
Cost
rate		 Income
rate		 Actuarial
balance
 
Based on Intermediate Assumptions of the 2016 Trustees Report.
2016-2090 16.50% 13.83% -2.68%
2034
0.00% -0.02% -0.02%
 
1 Under present law, the year of Trust Fund reserve depletion is 2034.

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Last reviewed or modified August 30, 2016