24-May-07
http://www.taxpolicycenter.org
PRELIMINARY RESULTS
Table T07-0150
Distribution of Capital Gains and Tax Rates on Gains by Cash Income Percentiles, 2010 1
Tax Units3
Cash Income
Percentile2
Number
(thousands)
Percent of
Total
Returns with
Percent of
Capital Gains Returns with
(thousands)
Gains
Percent of
Returns in
Class
Total Gains
($ millions)
Percent of
Total Gains
Tax on Gains Average Tax Marginal Tax
($ millions) Rate (Percent) Rate (Percent)
Lowest Quintile
Second Quintile
Middle Quintile
Fourth Quintile
Top Quintile
All
30,349
30,951
30,935
30,943
30,945
154,718
19.6
20.0
20.0
20.0
20.0
100.0
1,598
2,709
3,858
7,487
14,934
30,770
5.2
8.8
12.5
24.3
48.5
100.0
5.3
8.8
12.5
24.2
48.3
19.9
2,519
6,177
10,006
28,438
622,386
673,818
0.4
0.9
1.5
4.2
92.4
100.0
4.1
47.3
140.0
1,113.4
74,389.2
75,705.3
0.2
0.8
1.4
3.9
12.0
11.2
0.3
0.9
2.2
8.3
14.8
14.1
Addendum
Top 10 Percent
Top 5 Percent
Top 1 Percent
Top 0.5 Percent
Top 0.1 Percent
15,472
7,734
1,547
774
155
10.0
5.0
1.0
0.5
0.1
9,315
5,537
1,325
686
146
30.3
18.0
4.3
2.2
0.5
60.2
71.6
85.6
88.7
94.2
590,415
556,930
455,160
410,198
313,200
87.6
82.7
67.5
60.9
46.5
72,708.7
69,778.5
57,174.7
51,548.3
39,777.9
12.3
12.5
12.6
12.6
12.7
15.0
15.1
14.5
14.5
14.6
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 1006-2).
(1) Calendar year. Capital gains are net positive long-term gains. Tax on gains is the difference between current-law income tax and tax that would be owed if long-term capital gains were set to
the minimum of the current value and zero. Average tax rate is total tax divided by net positive long-term gains. Marginal tax rate is weighted by net positive long-term capital gains.
(2) Tax units with negative cash income are excluded from the lowest quintile but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.