Federal Capital Gains Tax Collections, 1954-2009

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%

2009 $263,460 $36,686 13.9% 1.89% 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

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