The use of total consumption (including government consumption) rather than that of private households only may bias downwards the VRR. However, in most OECD countries various savings schemes grant preferential tax treatment, which lowers progressivity. For the United States it has been estimated that more than 90% of the savings from preferential tax rates on long-term capital gains and qualified dividends go to taxpayers in the top quintile of the income distribution, and nearly half of the benefits go to people in the top 0.1%.19 Moreover, even outside preferential schemes, capital income is frequently taxed at lower rates than labour income, benefiting mainly wealthier households as they tend to own a larger share of capital income and wealth.