This might be major thread drift (or maybe not, some vinyl is now a collectible, so 'desirable'), but I'm not familiar with the claim that a CD leaves out some high % of sound. Maybe you are thinking of compressed audio, like mp3?
Compression algorithms, like mp3, objectively do remove some of the sound. That's a fact. Whether one can hear it, or be aware of it, is another matter (some definitely will hear a difference, some won't - but there is a difference, that is my point).
If someone is claiming that the sample quantization used for a CD is "leaving out" some high % of the sound, I suspect they don't really understand sampling theory. It took me a while to understand this, but sampling introduces audible noise, which is greatly reduced by creative dithering techniques ( which, counter-intuitively, introduce some high frequency noise into the mix). A well recorded CD with proper dithering applied, has a low noise floor, and can and does reproduce sounds below the 16 bit threshold (the noise raises them up, to be captured).
I know that dithering seems like it would cause all sorts of problems, but I've done a deep dive into this, and it works amazingly well.
As far as Neil Young, well, anyone (not just a Southern Man) can claim to hear anything they say the hear. I've pretty much given up arguing those points with people like that, they want to believe it (or have an agenda), so nothing will change their mind. Now, I can accept that some people may hear things I can't (especially now with mild tinnitus), but for me, there at least needs to be some physics related basis for it (and there can be many very subtle things - the ear-mind connection is very sensitive and complex). But if we are in an area that we have a good understanding of, and the laws of physics say there can be no difference between A and B, then I am highly skeptical that anyone can detect a difference. Most of this can be tested in well designed experiments. But those people will just ignore the science.
-ERD50