 The short-term and long-term capital gains tax rates for the bottom two tax rates, 15% and 28%, respectively, were equal to those tax payers' marginal income tax rates from 1988 until 1997.In 1997, the capital gains tax rates for the bottom two income tax brackets were reduced to 10% and 20% for the 15% and 28% income tax brackets, respectively.These rates remained until 2001.