TABLE 3.-Comparison of amounts and effective rates of individual income tax under present law and under the $40 per capita tax credit

1

TABLE 1.-Comparison of amounts and effective rates of individual income tax under present law and under the House bill (H. R. 4790)

1 Internal Revenue Code, as amended by the Revenue Act of 1945.

2 Single persons obtain no benefit under the income-splitting provision of H. R. 4790.
'Assumes taxpayer is not entitled to the special exemption for either the aged or the blind.

TABLE 2.-Comparison of amounts and effective rates of individual income tax under present law and under the House bill (H. R. 4790)

Assumes taxpayer is not entitled to the special exemption for either the aged or the blind.

TABLE 3.-Comparison of amounts and effective rates of individual income tax under present law1 and under the House bill (H. R. 4790)

3 Assumes taxpayer is not entitled to the special exemption for either the aged or the blind.

EXHIBIT 10

Estimated number of taxable income recipients and their total individual income tax under present law1 and under $40 per capita tax credit, distributed by net income classes, in calendar year 1948 (assuming personal income of $200,000,000,000)

[Number of income recipients in thousands; money amounts in millions]

1 Internal Revenue Code, as amended by the Revenue Act of 1945.

? Includes normal tax, surtax and alternative tax on net long-term capital gains.

3 Less than $50 thousand.

4 Less than .05 percent.

NOTE.-Figures are rounded and will not necessarily add to totals.

EXHIBIT 11.-Estimated number of taxable income recipients and their total individual income tax under present law1 and under the House bill (H. R. 4790), distributed by net income classes, in calendar year 1948 (assuming personal income of $200,000,000,000)

[Number of income recipients in thousands; money amounts in millions]

EXHIBIT 11.-Estimated number of taxable income recipients and their total individual income tax under present law and under the House bill (H. R. 4790), distributed by net income classes,in calendar year 1948 (assuming personal income of $200,000,000,000)-Continued

[Number of income recipients in thousands; money amounts in millions]

Internal Revenue Code, as amended by the Revenue Act of 1945,
'Includes normal tax, surtax and alternative tax on net long-term capital gains.
NOTE.-Figures are rounded and will not necessarily add to totals.

EXHIBIT 12

[In millions of dollars]

Tax decrease from each individual income tax provision of House bill (H. R. 4790) 1

1 The provisions are estimated consecutively, each individual loss depending on the cumulative effect of the preceding provisions.

2 Less than $50,000.

NOTE.-Figures are rounded and will not necessarily add to totals.