ffp_snw_tax_liability: US 2008 Tax liability by household type given income for...

In FanWangEcon/PrjOptiAlloc: The Optimal Allocation of Resources Among Heterogeneous Individuals

Description

We can study the effects of the 2008 Tax Rebate. The Tax rebate is a rebate based on how much tax was paid, so we need to know taxable income and tax liability. These differ by income, household marital status, and the count of children.

Given an array of pre-tax income values, we compute for from 0 to 4 kids and both married and unmarried taxable-income and tax-liability at all points along the income array.

Deductions are from 2008 income https://www.irs.gov/pub/irs-prior/f1040–2008.pdf. Tax brackets from 2008 are here https://www.irs.gov/pub/irs-prior/i1040tt–2008.pdf.

Usage

ffp_snw_tax_liability(
  ar_income = seq(0, 20000, length.out = 5),
  bl_verbose = FALSE
)

Arguments

ar_income

array of income points over which to evaluate taxable income and also tax liability by kids count and marital status.

Value

a list of 3-d arrays

• mn_taxable_income - 2008 taxable income given income 3d array where 1st dimension is income, 2nd dimension is marital status, 3rd dimension is kids count

• mn_tax_liability - 2008 taxable liability given income 3d array

Author(s)

Fan Wang, http://fanwangecon.github.io

References

https://fanwangecon.github.io/PrjOptiAlloc/articles/ffv_snw_stimulus_bush_2008.html

Examples

ar_income <- c(1e4, 2e4, 4e4, 8e4, 1.6e5)
ls_taxable <- ffp_snw_tax_liability(ar_income)
mn_taxable_income <- ls_taxable$mn_taxable_income
mn_tax_liability <- ls_taxable$mn_tax_liability
print('mn_taxable_income')
print(mn_taxable_income)
print('mn_tax_liability')
print(mn_tax_liability)

FanWangEcon/PrjOptiAlloc documentation built on Jan. 25, 2022, 6:55 a.m.