The richest 5 percent of taxpayers receive 85 percent of preferential capital gains income.

Evidence

In 2019, roughly 85 percent of income subject to the low preferential rate went to the richest 5 percent of taxpayers, according to the Tax Policy Center, and almost 75 percent went to the top 1 percenters; this is how white wealth increases across a century. — Dorothy A. Brown, The Whiteness of Wealth, 444

Categorization

Category: Factual Claims

• XREF: Direct, citable data point the reader needs to quantify the capital gains provision’s racial impact.

Related

• In 2019 over four-fifths of preferential-rate income went to the richest 5 percent. (similarity 0.94)
• Capital gains rates reward income from wealth over labor (similarity 0.83)
• Ninety-two percent of capital gains tax benefits go to white families (similarity 0.83)
• A 1916 lawsuit by a wealthy man created the capital gains preference (similarity 0.78)
• Capital gains income can be taxed at lower rates than wage income. (similarity 0.78)