Taxation of Capital Gains

Witnesses testified about U.S. tax policy and the capital gains tax rate in the context of comprehensive tax reform.
The maximum capital… read more

Witnesses testified about U.S. tax policy and the capital gains tax rate in the context of comprehensive tax reform.

The maximum capital gains tax rate was 15 percent, as compared to the maximum individual ordinary income tax rate of 35 percent. Absent Congressional action, the maximum statutory capital gains rate would increase to 20 percent on January 1, 2013, while the maximum individual ordinary income tax rate would increase to 39.6 percent. Beginning in 2013, however, an additional 3.8 percent tax would be imposed on net investment income earned by certain individuals. "Net investment income" includes, among other items, capital gains. Furthermore, the 2013 scheduled restoration of the “Pease limitation” on itemized deductions would impose a roughly 1.2 percent marginal rate on capital gains, bringing the top federal rate on capital gains to 25 percent in 2013. close

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*The transcript for this program was compiled from uncorrected Closed Captioning.

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  • Burma, Leonard Deputy Assistant Secretary (Former) Department of the Treasury->Office of Tax Analysis
  • Baucus, Max U.S. Senator [D] Montana
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Taxation of Capital Gains

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Program ID:
308302-1
Category:
Joint Committee
Format:
Joint Committee
Location:
Washington, District of Columbia, United States
First Aired:
Sep 20, 2012
Last Aired:
Nov 9, 2012

Airing Details

  • Sep 20, 2012 | 8:00pm EDT | C-SPAN 3
  • Sep 21, 2012 | 1:31am EDT | C-SPAN 3
  • Sep 21, 2012 | 3:22pm EDT | C-SPAN 3
  • Sep 25, 2012 | 9:35am EDT | C-SPAN 2
  • Nov 09, 2012 | 12:20pm EST | C-SPAN 3
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