Three-fourths of households with a capital gains filing make less than $200k
As reported Tuesday, President Trump is looking to help middle class households by ending the inflation tax on capital gains.
Inflation is created by the government and then taxed by the government. Americans are currently stuck paying capital gains taxes on inflation. It is time to end this double-dipping.
IRS data shows that 74% of households with a capital gains filing make less than $200,000. That is, three in four households with a capital gains filing make less than $200,000.
As shown by official IRS data from the most recent available dataset, tax year 2022:
30,465,850 households had a capital gains filing
22,647,560 made less than $200k
=74% of households with a capital gains filing made less than $200k
Americans for Tax Reform and 30 other conservative groups recently sent Treasury Secretary Bessent a letter supporting Bessent’s ability to end the inflation tax. Senator Ted Cruz (R-Texas) and Senator Tim Scott (R-S.C.) are also urging an end to the inflation tax. Trump has noted he has the authority to do so: “It can be done directly by me.”
Data for all 50 states is below.
Alabama
287,180 households had a capital gains filing
223,950 made less than $200k
78% made less than $200k
Alaska
62,340 households had a capital gains filing
48,290 made less than $200k
77% made less than $200k
Arizona
615,160 households had a capital gains filing
473,720 made less than $200k
77% made less than $200k
Arkansas
183,700 households had a capital gains filing
146,920 made less than $200k
80% made less than $200k
California
3,852,470 households had a capital gains filing
1,616,510 made less than $200k
42% made less than $200k
Colorado
681,910 households had a capital gains filing
497,580 made less than $200k
73% made less than $200k
Connecticut
425,060 households had a capital gains filing
297,640 made less than $200k
70% made less than $200k
Delaware
96,130 households had a capital gains filing
74,530 made less than $200k
77% made less than $200k
District of Colombia
86,260 households had a capital gains filing
54,740 made less than $200k
63% made less than $200k
Florida
2,136,590 households had a capital gains filing
1,970,520 made less than $200k
92% made less than $200k
Georgia
770,390 households had a capital gains filing
562,110 made less than $200k
73% made less than $200k
Hawaii
140,360 households had a capital gains filing
113,010 made less than $200k
80% made less than $200k
Idaho
168,030 households had a capital gains filing
134,830 made less than $200k
80% made less than $200k
Illinois
1,261,490 households had a capital gains filing
940,230 made less than $200k
74% made less than $200k
Indiana
517,370 households had a capital gains filing
418,680 made less than $200k
80% made less than $200k
Iowa
311,450 households had a capital gains filing
255,820 made less than $200k
82% made less than $200k
Kansas
277,060 households had a capital gains filing
221,680 made less than $200k
80% made less than $200k
Kentucky
278,490 households had a capital gains filing
226,060 made less than $200k
81% made less than $200k
Louisiana
272,670 households had a capital gains filing
257,010 made less than $200k
94% made less than $200k
Maine
131,440 households had a capital gains filing
107,060 made less than $200k
81% made less than $200k
Maryland
596,180 households had a capital gains filing
422,030 made less than $200k
70% made less than $200k
Massachusetts
834,430 households had a capital gains filing
563,270 made less than $200k
67% made less than $200k
Michigan
894,250 households had a capital gains filing
722,750 made less than $200k
80% made less than $200k
Minnesota
638,140 households had a capital gains filing
495,240 made less than $200k
77% made less than $200k
Mississippi
131,790 households had a capital gains filing
106,240 made less than $200k
80% made less than $200k
Missouri
542,020 households had a capital gains filing
440,650 made less than $200k
81% made less than $200k
Montana
123,950 households had a capital gains filing
101,850 made less than $200k
82% made less than $200k
Nebraska
200,570 households had a capital gains filing
163,010 made less than $200k
81% made less than $200k
Nevada
252,110 households had a capital gains filing
193,250 made less than $200k
76% made less than $200k
New Hampshire
164,690 households had a capital gains filing
122,160 made less than $200k
74% made less than $200k
New Jersey
1,077,680 households had a capital gains filing
739,270 made less than $200k
68% made less than $200k
New Mexico
137,860 households had a capital gains filing
112,100 made less than $200k
81% made less than $200k
New York
2,015,460 households had a capital gains filing
1,482,840 made less than $200k
73% made less than $200k
North Carolina
896,280 households had a capital gains filing
673,700 made less than $200k
75% made less than $200k
North Dakota
79,460 households had a capital gains filing
62,510 made less than $200k
78% made less than $200k
Ohio
990,510 households had a capital gains filing
798,760 made less than $200k
80% made less than $200k
Oklahoma
248,820 households had a capital gains filing
198,630 made less than $200k
79% made less than $200k
Oregon
426,370 households had a capital gains filing
333,040 made less than $200k
78% made less than $200k
Pennsylvania
1,253,060 households had a capital gains filing
968,950 made less than $200k
77% made less than $200k
Rhode Island
102,240 households had a capital gains filing
79,020 made less than $200k
77% made less than $200k
South Carolina
409,750 households had a capital gains filing
320,220 made less than $200k
78% made less than $200k
South Dakota
99,690 households had a capital gains filing
82,140 made less than $200k
82% made less than $200k
Tennessee
496,020 households had a capital gains filing
377,430 made less than $200k
76% made less than $200k
Texas
2,152,520 households had a capital gains filing
1,513,910 made less than $200k
70% made less than $200k
Utah
262,870 households had a capital gains filing
199,880 made less than $200k
76% made less than $200k
Vermont
75,280 households had a capital gains filing
61,500 made less than $200k
81% made less than $200k
Virginia
877,490 households had a capital gains filing
620,120 made less than $200k
70% made less than $200k
Washington
894,690 households had a capital gains filing
613,060 made less than $200k
68% made less than $200k
West Virginia
92,040 households had a capital gains filing
77,060 made less than $200k
83% made less than $200k
Wisconsin
633,950 households had a capital gains filing
524,890 made less than $200k
82% made less than $200k
Wyoming
59,910 households had a capital gains filing
48,130 made less than $200k
80% made less than $200k
SEE ALSO:
30 Conservative Groups Urge Trump to Index Capital Gains
Trump on Capital Gains Indexing: “It can be done directly by me.”
