Capital gains taxes likely depressing personal savings rate: Tax rate on personal income (including nonwithheld taxes), 1988–2022
| Total federal | Non-withheld | |
|---|---|---|
| 1988Q1 | 9.7% | 1.4% |
| 1988Q2 | 9.5% | 1.3% |
| 1988Q3 | 9.3% | 1.3% |
| 1988Q4 | 9.3% | 1.3% |
| 1989Q1 | 9.7% | 1.7% |
| 1989Q2 | 9.8% | 1.8% |
| 1989Q3 | 9.8% | 1.8% |
| 1989Q4 | 9.9% | 1.8% |
| 1990Q1 | 9.6% | 1.5% |
| 1990Q2 | 9.6% | 1.5% |
| 1990Q3 | 9.6% | 1.5% |
| 1990Q4 | 9.6% | 1.5% |
| 1991Q1 | 9.2% | 1.2% |
| 1991Q2 | 9.1% | 1.2% |
| 1991Q3 | 9.1% | 1.2% |
| 1991Q4 | 9.0% | 1.2% |
| 1992Q1 | 8.7% | 1.2% |
| 1992Q2 | 8.7% | 1.3% |
| 1992Q3 | 8.8% | 1.3% |
| 1992Q4 | 9.0% | 1.3% |
| 1993Q1 | 8.6% | 1.3% |
| 1993Q2 | 9.0% | 1.3% |
| 1993Q3 | 9.1% | 1.3% |
| 1993Q4 | 9.2% | 1.3% |
| 1994Q1 | 9.1% | 1.3% |
| 1994Q2 | 9.4% | 1.6% |
| 1994Q3 | 9.1% | 1.2% |
| 1994Q4 | 9.1% | 1.2% |
| 1995Q1 | 9.2% | 1.3% |
| 1995Q2 | 9.5% | 1.6% |
| 1995Q3 | 9.3% | 1.3% |
| 1995Q4 | 9.5% | 1.4% |
| 1996Q1 | 9.8% | 1.7% |
| 1996Q2 | 10.1% | 2.0% |
| 1996Q3 | 10.0% | 1.8% |
| 1996Q4 | 10.1% | 1.8% |
| 1997Q1 | 10.4% | 2.1% |
| 1997Q2 | 10.5% | 2.1% |
| 1997Q3 | 10.6% | 2.2% |
| 1997Q4 | 10.7% | 2.3% |
| 1998Q1 | 10.8% | 2.4% |
| 1998Q2 | 10.9% | 2.4% |
| 1998Q3 | 11.0% | 2.4% |
| 1998Q4 | 11.1% | 2.4% |
| 1999Q1 | 11.1% | 2.2% |
| 1999Q2 | 11.2% | 2.2% |
| 1999Q3 | 11.2% | 2.2% |
| 1999Q4 | 11.3% | 2.3% |
| 2000Q1 | 11.6% | 2.5% |
| 2000Q2 | 11.5% | 2.5% |
| 2000Q3 | 11.6% | 2.6% |
| 2000Q4 | 11.6% | 2.6% |
| 2001Q1 | 11.7% | 2.6% |
| 2001Q2 | 11.6% | 2.6% |
| 2001Q3 | 9.8% | 1.0% |
| 2001Q4 | 11.1% | 2.4% |
| 2002Q1 | 9.4% | 1.2% |
| 2002Q2 | 9.2% | 1.1% |
| 2002Q3 | 9.0% | 1.0% |
| 2002Q4 | 8.8% | 0.9% |
| 2003Q1 | 8.6% | 0.8% |
| 2003Q2 | 8.6% | 0.7% |
| 2003Q3 | 7.5% | 0.1% |
| 2003Q4 | 8.1% | 0.6% |
| 2004Q1 | 7.9% | 0.5% |
| 2004Q2 | 8.0% | 0.5% |
| 2004Q3 | 8.1% | 0.5% |
| 2004Q4 | 8.0% | 0.6% |
| 2005Q1 | 8.7% | 1.2% |
| 2005Q2 | 8.8% | 1.2% |
| 2005Q3 | 8.9% | 1.3% |
| 2005Q4 | 8.9% | 1.3% |
| 2006Q1 | 9.2% | 1.6% |
| 2006Q2 | 9.2% | 1.6% |
| 2006Q3 | 9.3% | 1.7% |
| 2006Q4 | 9.5% | 1.7% |
| 2007Q1 | 9.7% | 1.8% |
| 2007Q2 | 9.7% | 1.8% |
| 2007Q3 | 9.8% | 1.8% |
| 2007Q4 | 9.8% | 1.9% |
| 2008Q1 | 9.7% | 1.9% |
| 2008Q2 | 9.4% | 1.9% |
| 2008Q3 | 9.4% | 1.8% |
| 2008Q4 | 9.2% | 1.7% |
| 2009Q1 | 7.6% | 0.5% |
| 2009Q2 | 7.1% | 0.3% |
| 2009Q3 | 7.0% | 0.2% |
| 2009Q4 | 7.0% | 0.1% |
| 2010Q1 | 7.3% | 0.4% |
| 2010Q2 | 7.5% | 0.4% |
| 2010Q3 | 7.6% | 0.5% |
| 2010Q4 | 7.6% | 0.5% |
| 2011Q1 | 8.4% | 1.0% |
| 2011Q2 | 8.5% | 1.1% |
| 2011Q3 | 8.5% | 1.1% |
| 2011Q4 | 8.5% | 1.1% |
| 2012Q1 | 8.3% | 0.8% |
| 2012Q2 | 8.3% | 0.8% |
| 2012Q3 | 8.4% | 0.8% |
| 2012Q4 | 8.4% | 0.9% |
| 2013Q1 | 9.1% | 1.4% |
| 2013Q2 | 9.2% | 1.5% |
| 2013Q3 | 9.2% | 1.6% |
| 2013Q4 | 9.3% | 1.6% |
| 2014Q1 | 9.4% | 1.6% |
| 2014Q2 | 9.3% | 1.7% |
| 2014Q3 | 9.4% | 1.7% |
| 2014Q4 | 9.4% | 1.7% |
| 2015Q1 | 9.7% | 2.1% |
| 2015Q2 | 9.8% | 2.1% |
| 2015Q3 | 9.8% | 2.1% |
| 2015Q4 | 9.8% | 2.1% |
| 2016Q1 | 9.6% | 1.9% |
| 2016Q2 | 9.6% | 1.8% |
| 2016Q3 | 9.6% | 1.8% |
| 2016Q4 | 9.7% | 1.7% |
| 2017Q1 | 9.5% | 1.6% |
| 2017Q2 | 9.6% | 1.6% |
| 2017Q3 | 9.6% | 1.6% |
| 2017Q4 | 9.6% | 1.6% |
| 2018Q1 | 9.2% | 2.0% |
| 2018Q2 | 9.2% | 2.0% |
| 2018Q3 | 9.1% | 2.0% |
| 2018Q4 | 9.0% | 2.0% |
| 2019Q1 | 9.2% | 2.1% |
| 2019Q2 | 9.1% | 2.1% |
| 2019Q3 | 9.1% | 2.0% |
| 2019Q4 | 9.2% | 2.0% |
| 2020Q1 | 9.2% | 2.0% |
| 2020Q2 | 7.9% | 1.6% |
| 2020Q3 | 8.6% | 1.8% |
| 2020Q4 | 9.3% | 2.0% |
| 2021Q1 | 8.9% | 2.3% |
| 2021Q2 | 9.9% | 2.6% |
| 2021Q3 | 10.3% | 2.7% |
| 2021Q4 | 10.6% | 2.7% |
| 2022Q1 | 12.0% | 4.1% |
| 2022Q2 | 12.1% | 4.2% |
| 2022Q3 | 12.1% | 4.1% |
Source: Bureau of Economic Analysis (BEA) National Income and Product Accounts (NIPA).