President Donald Trump has announced that he is “seriously considering” cutting the capital gains tax. President Trump should use his executive authority to index capital gains taxes to inflation, a tax cut that would benefit millions of middle income households. ATR looked at Internal Revenue Service data from 2017 (the most recent available data) to determine what percentage of middle class households had a capital gains filing: In Pennsylvania, more than one million households had a capital gains filing in 2017. 58 percent of those households made less than $100,000, and 83 percent made less than $200,000. These results are just from one year. Imagine how many middle income households would be helped over the course of a decade by ending the inflation tax. The breakdown for all 50 states is below. Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming from https://taxi.nearme.host/biden-and-harris-slam-uber-and-lyft-but-have-used-them-over-1400-times/
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