Lots of taxpayers have capital gains, but most taxpayers have very little, and most capital gains occur among those at the top. Using 2005 data, the wealthiest 10 percent got 90 percent of long-term capital gains, with the top 1 percent getting almost 70 percent. As for Americans at the 60th percentile and below — they got 2 percent. So you’ll hear that middle-income taxpayers have capital gains, and would benefit from a capital gains tax cut. And that’s theoretically true; in 2005, taxpayers in the middle 20 percent of the income distribution averaged $176 in long-term capital gains. Therefore, a 10 percent cut in the capital gain rate would save that median taxpayer $17.60. Shadegg plan most helpful for those who don’t need it ☀
Tuesday 13 May 2008
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