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Top Incomes Update.pdf

saez-UStopincomes-2013.pdf
Preview of Top Incomes Update
🔗 Source: eml.berkeley.edu
📊 Size: 290 KB
👤 Author: emmanuel saez
⬇️ Downloads: 100

Summary

Top income shares in the US fell in 2013 due to higher tax rates, with the top 10% income share decreasing from 50.6% to 48.9% and the top 1% income share falling from 22.8% to 20.1%. Top 1% real incomes dropped 14.9% from 2012 to 2013, while bottom 99% average real incomes increased only 0.2%. The decline in top incomes is attributed to the increase in top tax rates, which created incentives to retime income to 2012. Despite the decline, top income shares are likely to rebound in 2014. The Great Recession led to a significant decline in average real income per family, with top 1% incomes falling 36.3% and bottom 99% incomes falling 11.6%. The recovery from 2009 to 2012 was uneven, with top 1% incomes growing 34.7% and bottom 99% incomes growing only 0.8%.

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Description

Top income shares in the US fell in 2013 due to higher tax rates, with the top 10% income share decreasing from 50.6% to 48.9% and the top 1% income share...

Technical Information

  • File Format: PDF
  • File Size: 290 KB
  • Pages: 10
  • Language: EN
  • Author: emmanuel saez
  • Total Downloads: 100
  • Last Updated: 1 day ago

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