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Household Income Distribution.pdf

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Preview of Household Income Distribution
🔗 Source: cbo.gov
📊 Size: 2.46 MB
👤 Author: Congressional Budget Office
⬇️ Downloads: 119

Summary

Households at the top of the income distribution received significantly more income than those at the bottom, with average income growing for all quintiles between 1979 and 2019, but increasing most among the highest quintile. Means-tested transfers rose over the 41-year period, primarily driven by Medicaid spending, with households in the lowest quintile receiving more than half of all means-tested transfers. Higher-income households paid a higher average federal tax rate, but average federal tax rates fell across the income distribution, with the sharpest decline in the lowest quintile. Income inequality rose between 1979 and 2019, as measured by the Gini coefficient, but transfers and taxes reduced income inequality over the same period.

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Description

Households at the top of the income distribution received significantly more income than those at the bottom, with average income growing for all quintiles...

Technical Information

  • File Format: PDF
  • File Size: 2.46 MB
  • Pages: 47
  • Language: EN
  • Author: Congressional Budget Office
  • Total Downloads: 119
  • Last Updated: 1 week ago

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