September 14, 2010
($Millions)
|
Year |
Realized Capital Gains |
Taxes Paid on Capital Gains |
Effective Capital Gains Tax Rate |
Realized Gains as Percentage of GDP |
Maximum Tax Rate on Long-Term Gains (a) |
|
1954 |
$ 7,157 |
$1,010 |
14.1% |
1.88% |
25% |
|
1955 |
$ 9,881 |
$1,465 |
14.8% |
2.38% |
25% |
|
1956 |
$ 9,683 |
$1,402 |
14.5% |
2.21% |
25% |
|
1957 |
$ 8,110 |
$1,115 |
13.7% |
1.76% |
25% |
|
1958 |
$ 9,440 |
$1,309 |
13.9% |
2.02% |
25% |
|
1959 |
$ 13,137 |
$1,920 |
14.6% |
2.59% |
25% |
|
1960 |
$ 11,747 |
$1,687 |
14.4% |
2.23% |
25% |
|
1961 |
$ 16,001 |
$2,481 |
15.5% |
2.94% |
25% |
|
1962 |
$ 13,451 |
$1,954 |
14.5% |
2.3% |
25% |
|
1963 |
$ 14,579 |
$2,143 |
14.7% |
2.36% |
25% |
|
1964 |
$ 17,431 |
$2,482 |
14.2% |
2.62% |
25% |
|
1965 |
$ 21,484 |
$3,003 |
14.0% |
2.99% |
25% |
|
1966 |
$ 21,348 |
$2,905 |
13.6% |
2.71% |
25% |
|
1967 |
$ 27,535 |
$4,112 |
14.9% |
3.31% |
25% |
|
1968 |
$ 35,607 |
$5,943 |
16.7% |
3.91% |
26.9% |
|
1969 |
$ 31,439 |
$5,275 |
16.8% |
3.19% |
27.5% |
|
1970 |
$ 20,848 |
$3,161 |
15.2% |
2.01% |
32.21% |
|
1971 |
$ 28,341 |
$4,350 |
15.3% |
2.52% |
34.25% |
|
1972 |
$ 35,869 |
$5,708 |
15.9% |
2.9% |
36.5% |
|
1973 |
$ 35,757 |
$5,366 |
15.0% |
2.59% |
36.5% |
|
1974 |
$ 30,217 |
$4,253 |
14.1% |
2.02% |
36.5% |
|
1975 |
$ 30,903 |
$4,534 |
14.7% |
1.89% |
36.5% |
|
1976 |
$ 39,492 |
$6,621 |
16.8% |
2.16% |
39.875% |
|
1977 |
$ 45,338 |
$8,232 |
18.2% |
2.23% |
39.875% |
|
1978 |
$ 50,526 |
$9,104 |
18.0% |
2.2% |
39.875%/33.85% |
|
1979 |
$ 73,443 |
$11,753 |
16.0% |
2.87% |
28% |
|
1980 |
$ 74,132 |
$12,459 |
16.8% |
2.66% |
28% |
|
1981 |
$ 80,938 |
$12,852 |
15.9% |
2.59% |
28%/20% |
|
1982 |
$ 90,153 |
$12,900 |
14.3% |
2.77% |
20% |
|
1983 |
$ 122,773 |
$18,700 |
15.2% |
3.47% |
20% |
|
1984 |
$ 140,500 |
$21,453 |
15.3% |
3.57% |
20% |
|
1985 |
$ 171,985 |
$26,460 |
15.4% |
4.08% |
20% |
|
1986 |
$ 327,725 |
$52,914 |
16.1% |
7.35% |
20% |
|
1987 |
$ 148,449 |
$33,714 |
22.7% |
3.13% |
28% |
|
1988 |
$ 162,592 |
$38,866 |
23.9% |
3.19% |
28% |
|
1989 |
$ 154,040 |
$35,258 |
22.9% |
2.81% |
28% |
|
1990 |
$ 123,783 |
$27,829 |
22.5% |
2.13% |
28% |
|
1991 |
$ 111,592 |
$24,903 |
22.3% |
1.86% |
28.93% |
|
1992 |
$ 126,692 |
$28,983 |
22.9% |
2% |
28.93% |
|
1993 |
$ 152,259 |
$36,112 |
23.7% |
2.28% |
29.19% |
|
1994 |
$ 152,727 |
$36,243 |
23.7% |
2.16% |
29.19% |
|
1995 |
$ 180,130 |
$44,254 |
24.6% |
2.43% |
29.19% |
|
1996 |
$ 260,696 |
$66,396 |
25.5% |
3.33% |
29.19% |
|
1997 |
$ 364,829 |
$79,305 |
21.7% |
4.38% |
29.19%/21.19% |
|
1998 |
$ 455,223 |
$89,069 |
19.6% |
5.18% |
21.19% |
|
1999 |
$ 552,608 |
$111,821 |
20.2% |
5.91% |
21.19% |
|
2000 |
$ 644,285 |
$127,297 |
19.8% |
6.47% |
21.19% |
|
2001 |
$ 349,441 |
$65,668 |
18.8% |
3.4% |
21.17% |
|
2002 |
$ 268,615 |
$49,122 |
18.3% |
2.52% |
21.16% |
|
2003 |
$ 323,306 |
$51,340 |
15.9% |
2.9% |
21.05%/16.05% |
|
2004 |
$ 499,154 |
$73,213 |
14.7% |
4.21% |
16.05% |
|
2005 |
$ 690,152 |
$102,174 |
14.8% |
5.46% |
16.05% |
|
2006 |
$ 798,214 |
$117,793 |
14.8% |
5.96% |
15.7% |
|
2007 |
$ 924,164 |
$137,141 |
14.8% |
6.57% |
15.7% |
|
2008 |
$ 497,841 |
$68,791 |
13.8% |
3.46% |
15.35% |
Note: Includes short and long-term net positive gains. Long-term gains excluded prior to 1987 are included in realized capital gains. Data for each year include some prior year returns.
(a) The maximum tax rate includes effects of exclusions (1954-1986), alternative tax rates (1954-1986; 1991-1996), the minimum tax (1970-1978), alternative minimum tax (1979-1996), income tax surcharges (1968-1970), and the 3% floor under itemized deductions (1991-1998).
Midyear rate changes occurred in 1978, 1981, 1997 and 2003.
Source: Tax Foundation, Treasury Department