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View Full Version : Interesting data on capital gains as percentage of federal income taxes collected



c1ue
12-17-10, 11:26 AM
Unsurprisingly, the ratio has been going up.

For 2001 and 2002, it went down - no doubt due to tech bubble bursting losses offsetting.

The question is - where is it now?

It would not surprise me if we were in the 15%+ range now.

Which, if true, would make the ongoing capital gains reductions an ever bigger farce.

Note: other data shows the peak in 2000 was 12.8%

http://www.cbo.gov/doc.cfm?index=3856&type=0


<table border="0" cellpadding="3" cellspacing="0" width="100%"><tbody><tr valign="BOTTOM"><td colspan="15">Table 1.<hr width="100%" size="1"></td> </tr> <tr valign="BOTTOM"> <td colspan="15" class="tablehead">Capital Gains and Capital Gains Taxes, 1976 Through 2000</td> </tr> <tr valign="BOTTOM"> <td colspan="15"><hr width="100%" size="1"></td> </tr> <tr valign="BOTTOM"> <td> </td> <td colspan="4" align="CENTER">Realizations
(Calendar Year) <hr width="100%" size="1"></td> <td colspan="4" align="CENTER">Tax Liabilities
(Calendar Year) <hr width="100%" size="1"></td> <td colspan="6" align="CENTER">Receipts
(Fiscal Year) <hr width="100%" size="1"></td> </tr> <tr valign="BOTTOM"> <td>Year</td> <td colspan="2" align="CENTER">Billions of
Dollars</td> <td colspan="2" align="CENTER">Percentage
Change</td> <td colspan="2" align="CENTER">Billions of
Dollars</td> <td colspan="2" align="CENTER">Percentage
Change</td> <td colspan="2" align="CENTER">Billions of
Dollars</td> <td colspan="2" align="CENTER">Percentage
Change</td> <td colspan="2" align="CENTER">Percentage
of Income
Taxes</td> </tr> <tr valign="BOTTOM"> <td colspan="15"><hr width="100%" size="1"></td> </tr> <tr valign="BOTTOM"> <td>1976</td> <td align="RIGHT">39</td> <td align="RIGHT"> </td> <td align="RIGHT">28</td> <td align="RIGHT"> </td> <td align="RIGHT">7</td> <td align="RIGHT"> </td> <td align="RIGHT">46</td> <td align="RIGHT"> </td> <td align="RIGHT">5</td> <td align="RIGHT"> </td> <td align="RIGHT">25</td> <td align="RIGHT"> </td> <td align="RIGHT">4</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1977</td> <td align="RIGHT">45</td> <td align="RIGHT"> </td> <td align="RIGHT">15</td> <td align="RIGHT"> </td> <td align="RIGHT">8</td> <td align="RIGHT"> </td> <td align="RIGHT">24</td> <td align="RIGHT"> </td> <td align="RIGHT">7</td> <td align="RIGHT"> </td> <td align="RIGHT">34</td> <td align="RIGHT"> </td> <td align="RIGHT">5</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1978</td> <td align="RIGHT">51</td> <td align="RIGHT"> </td> <td align="RIGHT">11</td> <td align="RIGHT"> </td> <td align="RIGHT">9</td> <td align="RIGHT"> </td> <td align="RIGHT">11</td> <td align="RIGHT"> </td> <td align="RIGHT">9</td> <td align="RIGHT"> </td> <td align="RIGHT">17</td> <td align="RIGHT"> </td> <td align="RIGHT">5</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1979</td> <td align="RIGHT">73</td> <td align="RIGHT"> </td> <td align="RIGHT">45</td> <td align="RIGHT"> </td> <td align="RIGHT">12</td> <td align="RIGHT"> </td> <td align="RIGHT">29</td> <td align="RIGHT"> </td> <td align="RIGHT">10</td> <td align="RIGHT"> </td> <td align="RIGHT">19</td> <td align="RIGHT"> </td> <td align="RIGHT">5</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1980</td> <td align="RIGHT">74</td> <td align="RIGHT"> </td> <td align="RIGHT">1</td> <td align="RIGHT"> </td> <td align="RIGHT">12</td> <td align="RIGHT"> </td> <td align="RIGHT">6</td> <td align="RIGHT"> </td> <td align="RIGHT">12</td> <td align="RIGHT"> </td> <td align="RIGHT">17</td> <td align="RIGHT"> </td> <td align="RIGHT">5</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1981</td> <td align="RIGHT">81</td> <td align="RIGHT"> </td> <td align="RIGHT">9</td> <td align="RIGHT"> </td> <td align="RIGHT">13</td> <td align="RIGHT"> </td> <td align="RIGHT">3</td> <td align="RIGHT"> </td> <td align="RIGHT">13</td> <td align="RIGHT"> </td> <td align="RIGHT">5</td> <td align="RIGHT"> </td> <td align="RIGHT">4</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1982</td> <td align="RIGHT">90</td> <td align="RIGHT"> </td> <td align="RIGHT">11</td> <td align="RIGHT"> </td> <td align="RIGHT">13</td> <td align="RIGHT"> </td> <td align="RIGHT">0</td> <td align="RIGHT"> </td> <td align="RIGHT">13</td> <td align="RIGHT"> </td> <td align="RIGHT">2</td> <td align="RIGHT"> </td> <td align="RIGHT">4</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1983</td> <td align="RIGHT">123</td> <td align="RIGHT"> </td> <td align="RIGHT">36</td> <td align="RIGHT"> </td> <td align="RIGHT">19</td> <td align="RIGHT"> </td> <td align="RIGHT">45</td> <td align="RIGHT"> </td> <td align="RIGHT">16</td> <td align="RIGHT"> </td> <td align="RIGHT">20</td> <td align="RIGHT"> </td> <td align="RIGHT">5</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1984</td> <td align="RIGHT">141</td> <td align="RIGHT"> </td> <td align="RIGHT">14</td> <td align="RIGHT"> </td> <td align="RIGHT">21</td> <td align="RIGHT"> </td> <td align="RIGHT">15</td> <td align="RIGHT"> </td> <td align="RIGHT">20</td> <td align="RIGHT"> </td> <td align="RIGHT">29</td> <td align="RIGHT"> </td> <td align="RIGHT">7</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1985</td> <td align="RIGHT">172</td> <td align="RIGHT"> </td> <td align="RIGHT">22</td> <td align="RIGHT"> </td> <td align="RIGHT">26</td> <td align="RIGHT"> </td> <td align="RIGHT">23</td> <td align="RIGHT"> </td> <td align="RIGHT">24</td> <td align="RIGHT"> </td> <td align="RIGHT">19</td> <td align="RIGHT"> </td> <td align="RIGHT">7</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1986</td> <td align="RIGHT">328</td> <td align="RIGHT"> </td> <td align="RIGHT">91</td> <td align="RIGHT"> </td> <td align="RIGHT">53</td> <td align="RIGHT"> </td> <td align="RIGHT">100</td> <td align="RIGHT"> </td> <td align="RIGHT">38</td> <td align="RIGHT"> </td> <td align="RIGHT">62</td> <td align="RIGHT"> </td> <td align="RIGHT">11</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1987</td> <td align="RIGHT">148</td> <td align="RIGHT"> </td> <td align="RIGHT">-55</td> <td align="RIGHT"> </td> <td align="RIGHT">34</td> <td align="RIGHT"> </td> <td align="RIGHT">-36</td> <td align="RIGHT"> </td> <td align="RIGHT">44</td> <td align="RIGHT"> </td> <td align="RIGHT">15</td> <td align="RIGHT"> </td> <td align="RIGHT">11</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1988</td> <td align="RIGHT">163</td> <td align="RIGHT"> </td> <td align="RIGHT">10</td> <td align="RIGHT"> </td> <td align="RIGHT">39</td> <td align="RIGHT"> </td> <td align="RIGHT">15</td> <td align="RIGHT"> </td> <td align="RIGHT">36</td> <td align="RIGHT"> </td> <td align="RIGHT">-19</td> <td align="RIGHT"> </td> <td align="RIGHT">9</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1989</td> <td align="RIGHT">154</td> <td align="RIGHT"> </td> <td align="RIGHT">-5</td> <td align="RIGHT"> </td> <td align="RIGHT">35</td> <td align="RIGHT"> </td> <td align="RIGHT">-9</td> <td align="RIGHT"> </td> <td align="RIGHT">37</td> <td align="RIGHT"> </td> <td align="RIGHT">3</td> <td align="RIGHT"> </td> <td align="RIGHT">8</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1990</td> <td align="RIGHT">124</td> <td align="RIGHT"> </td> <td align="RIGHT">-20</td> <td align="RIGHT"> </td> <td align="RIGHT">28</td> <td align="RIGHT"> </td> <td align="RIGHT">-21</td> <td align="RIGHT"> </td> <td align="RIGHT">32</td> <td align="RIGHT"> </td> <td align="RIGHT">-14</td> <td align="RIGHT"> </td> <td align="RIGHT">7</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1991</td> <td align="RIGHT">112</td> <td align="RIGHT"> </td> <td align="RIGHT">-10</td> <td align="RIGHT"> </td> <td align="RIGHT">25</td> <td align="RIGHT"> </td> <td align="RIGHT">-11</td> <td align="RIGHT"> </td> <td align="RIGHT">27</td> <td align="RIGHT"> </td> <td align="RIGHT">-17</td> <td align="RIGHT"> </td> <td align="RIGHT">6</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1992</td> <td align="RIGHT">127</td> <td align="RIGHT"> </td> <td align="RIGHT">14</td> <td align="RIGHT"> </td> <td align="RIGHT">29</td> <td align="RIGHT"> </td> <td align="RIGHT">16</td> <td align="RIGHT"> </td> <td align="RIGHT">27</td> <td align="RIGHT"> </td> <td align="RIGHT">1</td> <td align="RIGHT"> </td> <td align="RIGHT">6</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1993</td> <td align="RIGHT">152</td> <td align="RIGHT"> </td> <td align="RIGHT">20</td> <td align="RIGHT"> </td> <td align="RIGHT">36</td> <td align="RIGHT"> </td> <td align="RIGHT">25</td> <td align="RIGHT"> </td> <td align="RIGHT">32</td> <td align="RIGHT"> </td> <td align="RIGHT">20</td> <td align="RIGHT"> </td> <td align="RIGHT">6</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1994</td> <td align="RIGHT">153</td> <td align="RIGHT"> </td> <td align="RIGHT">0</td> <td align="RIGHT"> </td> <td align="RIGHT">36</td> <td align="RIGHT"> </td> <td align="RIGHT">0</td> <td align="RIGHT"> </td> <td align="RIGHT">36</td> <td align="RIGHT"> </td> <td align="RIGHT">12</td> <td align="RIGHT"> </td> <td align="RIGHT">7</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1995</td> <td align="RIGHT">180</td> <td align="RIGHT"> </td> <td align="RIGHT">18</td> <td align="RIGHT"> </td> <td align="RIGHT">44</td> <td align="RIGHT"> </td> <td align="RIGHT">22</td> <td align="RIGHT"> </td> <td align="RIGHT">40</td> <td align="RIGHT"> </td> <td align="RIGHT">10</td> <td align="RIGHT"> </td> <td align="RIGHT">7</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1996</td> <td align="RIGHT">261</td> <td align="RIGHT"> </td> <td align="RIGHT">45</td> <td align="RIGHT"> </td> <td align="RIGHT">66</td> <td align="RIGHT"> </td> <td align="RIGHT">50</td> <td align="RIGHT"> </td> <td align="RIGHT">54</td> <td align="RIGHT"> </td> <td align="RIGHT">36</td> <td align="RIGHT"> </td> <td align="RIGHT">8</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1997</td> <td align="RIGHT">365</td> <td align="RIGHT"> </td> <td align="RIGHT">40</td> <td align="RIGHT"> </td> <td align="RIGHT">79</td> <td align="RIGHT"> </td> <td align="RIGHT">19</td> <td align="RIGHT"> </td> <td align="RIGHT">72</td> <td align="RIGHT"> </td> <td align="RIGHT">33</td> <td align="RIGHT"> </td> <td align="RIGHT">10</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1998</td> <td align="RIGHT">455</td> <td align="RIGHT"> </td> <td align="RIGHT">25</td> <td align="RIGHT"> </td> <td align="RIGHT">89</td> <td align="RIGHT"> </td> <td align="RIGHT">12</td> <td align="RIGHT"> </td> <td align="RIGHT">84</td> <td align="RIGHT"> </td> <td align="RIGHT">16</td> <td align="RIGHT"> </td> <td align="RIGHT">10</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>1999</td> <td align="RIGHT">553</td> <td align="RIGHT"> </td> <td align="RIGHT">21</td> <td align="RIGHT"> </td> <td align="RIGHT">112</td> <td align="RIGHT"> </td> <td align="RIGHT">26</td> <td align="RIGHT"> </td> <td align="RIGHT">99</td> <td align="RIGHT"> </td> <td align="RIGHT">19</td> <td align="RIGHT"> </td> <td align="RIGHT">11</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td>2000</td> <td align="RIGHT">644</td> <td align="RIGHT"> </td> <td align="RIGHT">17</td> <td align="RIGHT"> </td> <td align="RIGHT">131</td> <td align="RIGHT"> </td> <td align="RIGHT">17</td> <td align="RIGHT"> </td> <td align="RIGHT">121</td> <td align="RIGHT"> </td> <td align="RIGHT">21</td> <td align="RIGHT"> </td> <td align="RIGHT">12</td> <td align="RIGHT"> </td> </tr> <tr valign="BOTTOM"> <td colspan="15"><hr width="100%" size="1"></td> </tr> <tr valign="BOTTOM"> <td colspan="15" class="tablefootnote">Sources: Congressional Budget Office; Department of the Treasury.</td> </tr> <tr valign="BOTTOM"> <td colspan="15" class="tablefootnote">Note: Data for 2000 are preliminary.</td></tr></tbody></table>

Anon21456
12-18-10, 11:37 AM
Quite interesting, thanks for the data !

aaron
12-26-10, 09:25 PM
As I continually discover, I am joe six pack.

I will not be paying capital gains taxes for many years to come. I lost so much in 2008, I'd have to be an investing genius for the next several years in order to get back to even. No more taxes from me. I am sure I am not alone.

FRED
12-27-10, 08:13 PM
We've tracked personal tax receipts on assets over the years to measure the importance of asset inflation to producing tax receipts to keep the government running. The rise and fall correlates to asset bubbles, of course. Here's the update.


http://www.itulip.com/images2/assetinflationtaxrevenue1999-Dec2010wtmk.png

http://www.itulip.com/images2/assetinflationtaxrevenueDollars1999-Dec2010wtmk.png

c1ue
12-28-10, 10:09 AM
We've tracked personal tax receipts on assets over the years to measure the importance of asset inflation to producing tax receipts to keep the government running. The rise and fall correlates to asset bubbles, of course. Here's the update.

Interesting data - presumably this correlates directly to taxes on capital gains?

If so, it implies that capital gains taxes must have exceeded the previous 12.5% peak in 2000 by a significant margin.

GDP in 2007 was something like 30% higher - the 300% greater capital gains thus implies a 25% to 30% share.