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cain999tables

cain999tables

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Published by The Washington Post
These tables represent the Herman Cain campaign's analysis of the revenue impact of the "999" plan.
These tables represent the Herman Cain campaign's analysis of the revenue impact of the "999" plan.

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Published by: The Washington Post on Oct 13, 2011
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Table 1a

Gross Domestic Product, by Use Gross domestic product Personal consumption expenditures Gross private domestic investment Net exports of goods and services Government consumption expenditures and gross investment Government consumption expenditures Government gross investment 2008 $ billions 14,369.1 10,104.5 2,096.7 -710.4 2,878.3 2,382.8 495.5 % of GDP 70.3% 14.6% -4.9% 20.0% 16.6% 3.4%

Table 1b
Imputed Gross Domestic Product Gross domestic product Less: Imputed output Nonbusiness capital income Consumption of general government fixed capital Margins on owner-built housing Farm products consumed on farms Gross domestic product without imputed output Addendum: Rearranged income and spending Employment-related payments Services furnished persons without payment by financial intermediaries 2008 $ billions % of 14,369.1 GDP 1,141.6 260.7 0.6 0.2 12,966.0 580.5 653.8 8.8% 2.0% 0.0% 0.0%

4.5% 5.0%

Table 1c
Gross Domestic Product Less Imputed Output Gross domestic product Personal consumption expenditures Gross private domestic investment Net exports of goods and services Government consumption expenditures and gross investment Government consumption expenditures Government gross investment 2008 $ billions 12,966.0 9,482.6 1,576.2 -710.4 2,617.6 2,122.1 495.5 % of GDP 73.1% 12.2% -5.5% 20.2% 16.4% 3.8%

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Table 2
Gross Domestic Product, by Legal Form of Producer Gross domestic product Private business Households and institutions Government enterprises General government Without imputations Gross domestic product Private business Households and institutions Government enterprises General government 2008 $ billions 14,369.1 10,691.0 1,808.0 172.5 1,697.6 12,966.0 10,690.2 666.4 172.5 1,436.9 % of GDP 74.4% 12.6% 1.2% 11.8%

82.4% 5.1% 1.3% 11.1%

Table 3
Gross Domestic Product, by Factor Income Gross Domestic Product Less: Taxes on production and imports x property taxes Plus: Subsidies Equals Factor Income Compensation of employees Private business Households and institutions Government enterprises General government Gross capital income plus property taxes Private business Households and institutions Government enterprises General government Without imputations Gross Domestic Product Less: Taxes on production and imports x property taxes Plus: Subsidies Equals: Factor Income Compensation of employees Gross capital income plus property taxes 2008 $ billions 14,369.1 633.4 52.8 13,788.4 8,060.8 5,848.0 670.0 105.9 1,436.9 5,727.6 4,258.7 1,141.6 66.6 260.7 12,966.0 633.4 52.8 12,385.3 8,060.6 4,324.7 % of GDP 4.4% 0.4% 96.0% 56.1% 40.7% 4.7% 0.7% 10.0% 39.9% 29.6% 7.9% 0.5% 1.8%

4.9% 0.4% 95.5% 62.2% 33.4%

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Table 4
Personal Income and Its Disposition Personal income Compensation of employees, received Proprietors' income Rental income of persons Personal income receipts on assets Personal interest income Personal dividend income Personal current transfer receipts Government social benefits to persons Other current transfer receipts, from business(net) Less: Contributions for government social insurance Less: Personal current taxes Equals: Disposable personal income Less: Personal outlays Personal consumption expenditures Personal interest payments Personal current transfer payments To government To the rest of the world (net) Equals: Personal saving 2008 $ billions 12,391.1 8,065.8 1,102.0 222.0 2,109.3 1,314.7 794.6 1,879.2 1,842.6 36.7 987.2 1,438.2 10,952.9 10,505.0 10,104.5 246.2 154.3 89.7 64.6 447.9 % of PI 65.1% 8.9% 1.8% 17.0% 10.6% 6.4% 15.2% 14.9% 0.3% 8.0% 11.6% 88.4% 84.8% 81.5% 2.0% 1.2% 0.7% 0.5% 3.6%

Table 5
Federal Taxes Gross domestic product Current receipts Less: Corporate tax paid by Fed Plus: Estate and gift taxes paid by persons Current receipts, adjusted Personal income taxes Taxes on production and imports Corporate income taxes Contributions for government social insurance Estate and gift taxes paid by persons Taxes to be replaced Personal income taxes Corporate income taxes Payroll Taxes 2008 $ billions 14,369.1 2,503.1 31.7 28.2 2,499.6 1,102.8 96.0 200.5 972.4 28.2 2,303.8 1,102.8 200.5 972.4 % of GDP 17.4% 0.2% 0.2% 17.4% 7.7% 0.7% 1.4% 6.8% 0.2% 16.0% 7.7% 1.4% 6.8%

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Estate and gift taxes paid by persons

28.2

0.2%

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Table 6 Poverty Grant under Tax Reform Proposals
Poverty Thresholds for 2001-2010 by Size of Family One person (unrelated individual) 2000 2008 2010 Under 65 years 8,959 11,201 11,344 65 years and over 8,259 10,326 10,458 Two persons Householder under 65 years 11,590 14,489 14,676 Householder 65 years and over 10,419 13,030 13,195 Three persons 13,738 17,163 17,378 Four persons 17,603 17,163 17,378 Five persons 20,819 22,025 22,314 Six persons 23,528 26,049 26,417 Seven persons 26,754 29,456 29,887 Eight persons 29,701 33,529 33,919 Nine persons or more 35,060 37,220 37,863 Number of Families for 2001-2010 by Size of Family One person (unrelated individual) 2000 2008 2010 Under 65 years 34,458 38,602 38,878 65 years and over 10,658 12,025 12,111 Two persons Householder under 65 years 22,377 25,106 25,410 Householder 65 years and over 9,580 10,551 10,679 Three persons 16,079 17,504 17,555 Four persons 14,638 15,092 15,006 Five persons 6,259 7,015 7,095 Six persons 2,193 2,410 2,406 Seven persons 718 815 844 Eight persons 298 317 328 Nine persons or more 246 213 221 Total Number of Families 115,461 129,504 129,231 Base for Poverty Grant ($billions) 1,388.60 1,912.05 1,985.15 Weighted Average Size of Grant ($) 12,027 14,764 15,361 Source: U.S. Census Bureau, Current Population Survey, March Supplement 2010. Average 10,076 9,289 13,036 11,720 15,447 15,447 19,803 23,419 26,463 30,064 33,398 Average 37,097 11,641 24,212 10,096 17,169 15,239 6,767 2,350 742.125 287.625 197.625 124,278 1,678.28 13,481

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Table 7
Business Transactions Tax Base and Rate 2008 $ billions % of 14,369.1 GDP -710.4 4.9% 15,079.5 104.9% -1,141.6 519.9 -0.2 -519.9 -0.6 -260.7 13,676.4 -1,576.2 -66.6 -31.7 12,001.9 2,303.8 19.2% 7.9% 3.6% 0.0% 3.6% 0.0% 1.8% 95.2% 11.0% 0.5% 0.2% 83.5% 16.0%

Gross domestic product Less: Net Exports Equals Gross domestic purchases Imputation Adjustments Less: Nonbusiness capital income Plus: Nonbusiness capital investment Less: Farm products consumed on farms Less: Nonbusiness capital investment Less: Margins on owner-built housing Less: Consumption of general government fixed capital Equals Gross domestic purchases, adjusted Less: Gross private domestic investment, adjusted Less: Current surplus of government enterprises, adjusted Less: Corporate tax paid by Fed Gross BTT tax base Taxes to be raised Tax Rate on Business Transactions Tax Base

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Table 8
Comprehensive Factor Income Tax Base and Rate Gross domestic product Less: Taxes on production and imports Imputation Adjustments Less: Nonbusiness capital income Plus: Nonbusiness capital investment Less: Farm products consumed on farms Less: Nonbusiness capital investment Less: Margins on owner-built housing Less: Consumption of general government fixed capital Other deductions Less: Wage and salary disbursements Less: Gross private domestic investment, adjusted Less: Current surplus of government enterprises, adjusted Less: Corporate tax paid by Fed Equals Business Tax Base Wages and Salaries Equals Personal Tax Base Adjusted Comprehensive Tax Base Before Exemption Taxes to be raised Tax Rate on Comprehensive Factor Income Tax Base 2008 $ billions % of 14,369.1 GDP -1,045.1 7.3% -1,141.6 519.9 -0.2 -519.9 -0.6 -260.7 -6,559.0 -1,576.2 -66.6 -31.7 3,687.3 6,559.0 6,559.0 10,246.3 2,303.8 22.5% 7.9% 3.6% 0.0% 3.6% 0.0% 1.8% 45.6% 11.0% 0.5% 0.2% 25.7% 45.6% 45.6% 71.3% 16.0%

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Table 9
Sales Tax Bases and Rate Gross domestic product Personal consumption expenditures Less: Output of nonprofit institutions serving households Imputation Adjustments Less: Space rent for owner-occupied housing Plus: Intermediate inputs for owner-occupied housing Plus: Investment in owner-occupied housing Less: Services furnished persons without payment by financial intermediaries Less: Food furnished to employees, including military and domestic service Less: Standard clothing issued to military personnel Less: Employees' lodging Equals National Sales Tax Base Expansion to Sales Tax Base for Comprehensive Sales Tax Compensation of general government workers Compensation of institutions Untaxed services from intermediaries Comprehensive Sales Tax Base Taxes to be raised Comprehensive Sales Tax rate on income tax basis on sales tax basis 2008 $ billions 14,369.1 10,104.5 -759.2 -1,197.2 167.4 390.5 -653.8 14.3 -0.4 -0.7 8,065.4 2,741.7 1,436.9 651.0 653.8 10,807.0 2,303.8 21.3% 27.1% % of GDP 70.3% 5.3% 8.3% 1.2% 2.7% 4.5% 0.1% 0.0% 0.0% 56.1% 19.1% 10.0% 4.5% 4.5% 75.2% 16.0%

Table 10a
Recap of Tax Reform Proposals 2008 $ billions Base 12,001.9 10,246.3 10,807.0 2008 $ billions Base 22,248.3 22,808.9 21,053.4 33,055.3 % Rate 19.2% 22.5% 21.3% % Rate 10.4% 10.1% 10.9% 7.0%

Business Transactions Tax Comprehensive Factor Income Tax Comprehensive Sales Tax Combined Reform Proposals Business Transactions Plus Factor Income Tax Business Transactions Plus Sales Tax Factor Income Plus Sales Tax Business Transactions Plus Factor Income Plus Sales Tax

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Table 10b
Underreporting Adjustment for Tax Reform Proposals 2008 $ billions Base 11,472.4 9,694.4 10,263.2 2008 $ billions Base 21,169.1 21,736.6 19,957.9 31,432.4 % Rate 20.1% 23.8% 22.4% % Rate 10.9% 10.6% 11.5% 7.3%

Business Transactions Tax Comprehensive Factor Income Tax Comprehensive Sales Tax Combined Reform Proposals Business Transactions Plus Factor Income Tax Business Transactions Plus Sales Tax Factor Income Plus Sales Tax Business Transactions Plus Factor Income Plus Sales Tax

Table 10c
Adding Poverty Grant to Tax Reform Proposals 2008 $ billions Base 9,479.5 7,701.5 8,270.3 2008 $ billions Base 17,183.2 17,750.8 15,972.1 25,453.7 % Rate 24.3% 29.9% 27.9% % Rate 13.4% 13.0% 14.4% 9.1%

Business Transactions Tax Comprehensive Factor Income Tax Comprehensive Sales Tax Combined Reform Proposals Business Transactions Plus Factor Income Tax Business Transactions Plus Sales Tax Factor Income Plus Sales Tax Business Transactions Plus Factor Income Plus Sales Tax

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Table 11 Result of Full Replacement of Corporate and Personal Income, Payroll and Estate Taxes
(Amounts in $billions)

Gross domestic product Private Business Capital Stocks Total hours worked Total Federal receipts Capital transfer receipts Current receipts Current tax receipts Broad-Base Tax Personal current taxes Taxes on production and imports Excise taxes Customs duties Taxes on corporate income Federal Reserve banks Other (Corporate income tax) Taxes from the rest of the world Contributions for social insurance Income receipts on assets Interest receipts Rents and royalties Current transfer receipts From business From persons Current surplus of government enterprises

Baseline 2008 14,369 27,451 259 2,531 28 2,502 1,448 0 1,103 96 67 29 232 32 200 17 972 31 21 10 55 35 20 -4

Static Results Level Dif %Dif 14,369 0 0.0% 27,451 0 0.0% 259 0 0.0% 2,531 0 0.0% 0 -28 -100.0% 2,531 28 1.1% 2,448 1,001 69.1% 2,304 2,304 0.0% 0 -1,103 -100.0% 96 0 0.0% 67 0 0.0% 29 0 0.0% 32 -200 -86.4% 32 0 0.0% 0 -200 -100.0% 17 0 0.0% 0 -972 -100.0% 31 0 0.0% 21 0 0.0% 10 0 0.0% 55 0 0.0% 35 0 0.0% 20 0 0.0% -4 0 0.0%

Dynamic Results Level Dif %Dif 16,455 2,086 14.5% 37,148 9,698 35.3% 271 11 4.4% 2,906 375 14.8% 0 -28 -100.0% 2,906 403 16.1% 2,818 1,370 94.6% 2,655 2,655 0.0% 0 -1,103 -100.0% 109 13 14.0% 76 9 14.0% 33 4 14.0% 36 -196 -84.4% 36 5 14.5% 0 -200 -100.0% 17 0 0.0% 0 -972 -100.0% 31 0 0.0% 21 0 0.0% 10 0 0.0% 63 8 14.0% 40 5 14.0% 23 3 14.0% -6 -2 50.2%

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