{
  "id": "RL30317",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "RL30317",
  "active": false,
  "source": "EveryCRSReport.com",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 105447,
      "date": "1999-09-24",
      "retrieved": "2016-05-24T20:42:13.651941",
      "title": "Capital Gains Taxes: Distributional Effects",
      "summary": "Many types of data have been presented to illustrate who pays capital gains taxes (and who might\nbenefit from a reduction in these taxes). These different approaches include absolute measures of\ndistribution (such as how the tax is distributed relative to the distribution of the population and the\naverage tax paid), relative measures of distribution (whether after-tax incomes would become more\nor less equal without the tax), measures of the distribution of tax liability, and measures of who pays\nthe tax.\n These measures are presented for 1999 and indicate that capital gains taxes are concentrated\namong high income individuals. Those with earnings over $200,000, who constitute the top 1.8\nPercent of income, account for 78.6 percent of capital gains taxes. While the average capital gains\ntax paid is $476, the average for the highest income class is $20,536 and the average for the bottom\nhalf is less than $10. Capital gains taxes contribute to a progressive tax system: while capital gains\ntaxes average 1.3 percent of disposable income, they account for 5.7 percent in the highest income\nbracket and less than one tenth of one percent for the bottom 70 percent of the population. \n Some of this concentration in higher income classes occurs because of the concentration of\ntaxes at higher income levels. However, capital gains taxes are also concentrated relative to other\ntaxes. The capital gains tax is 4.5 percent of total federal income, payroll and excise taxes; however,\nit is 14 percent of total taxes in the highest income bracket, and less than one half of one percent for\nthe bottom 70 percent of the population. For the income tax alone, capital gains taxes are 8.1 percent\nof total income taxes, but 16.2 percent of income taxes in the top income class. In the bottom 70\npercent of the distribution, the capital gains tax is less than one percent of income taxes.\n About a quarter of taxpayers who pay a capital gains tax are in the bottom 70 percent of the\ndistribution, while 11 percent of capital gains taxpayers are in the top 1.8 percent of the population. \nAbout 12 percent of all taxpayers pay a capital gains tax; in the highest income class, 75 percent pay\na capital gains tax. \n This report will not be updated unless new data become available.",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
      "formats": [
        {
          "format": "PDF",
          "encoding": null,
          "url": "http://www.crs.gov/Reports/pdf/RL30317",
          "sha1": "5ac8542a5009c325a44ba8dfb91d495494401a8f",
          "filename": "files/19990924_RL30317_5ac8542a5009c325a44ba8dfb91d495494401a8f.pdf",
          "images": null
        },
        {
          "format": "HTML",
          "filename": "files/19990924_RL30317_5ac8542a5009c325a44ba8dfb91d495494401a8f.html"
        }
      ],
      "topics": []
    }
  ],
  "topics": [
    "Economic Policy"
  ]
}