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Author: United States Congressional Budget Office
Publisher: Cosimo Reports
ISBN: 9781616406653
Category : Business & Economics
Languages : en
Pages : 68
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Book Description
In October 2011, the United States Congressional Budget Office released a report evaluating the trends in household income from 1979 to 2007. Based on extensive data from the Internal Revenue Service and Census Bureau, it was written in response to the economic crisis and rising concerns about unemployment, tax inequality, and large income gaps between the rich and poor. The report found that there is a large contrast in the after-tax income of the lowest and highest earners in the U.S.; the after-tax income of the most prosperous fifth of the population exceeded the total after-tax income of the other four-fifths. This report is valuable to anyone interested in economic trends over time and the current world economic crisis. The U.S. CONGRESSIONAL BUDGET OFFICE is a federal nonpartisan government agency that evaluates the federal budget in preparation for its renewal each year, providing Congress with the information and estimates they need to do so. In addition, they provide objective analyses to aid economic and budget-related decisions of the programs covered by the federal budget.
Author: United States Congressional Budget Office
Publisher: Cosimo Reports
ISBN: 9781616406653
Category : Business & Economics
Languages : en
Pages : 68
Get Book Here
Book Description
In October 2011, the United States Congressional Budget Office released a report evaluating the trends in household income from 1979 to 2007. Based on extensive data from the Internal Revenue Service and Census Bureau, it was written in response to the economic crisis and rising concerns about unemployment, tax inequality, and large income gaps between the rich and poor. The report found that there is a large contrast in the after-tax income of the lowest and highest earners in the U.S.; the after-tax income of the most prosperous fifth of the population exceeded the total after-tax income of the other four-fifths. This report is valuable to anyone interested in economic trends over time and the current world economic crisis. The U.S. CONGRESSIONAL BUDGET OFFICE is a federal nonpartisan government agency that evaluates the federal budget in preparation for its renewal each year, providing Congress with the information and estimates they need to do so. In addition, they provide objective analyses to aid economic and budget-related decisions of the programs covered by the federal budget.
Author:
Publisher: Government Printing Office
ISBN:
Category :
Languages : en
Pages : 70
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Book Description
Author: Congressional Budget Office
Publisher: Createspace Independent Pub
ISBN: 9781475256659
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
This Congressional Budget Office (CBO) study—prepared at the request of the Chairman and former Ranking Member of the Senate Committee on Finance—documents changes in the distribution of household income between 1979 and 2007. CBO's analysis examines the distribution of household income before and after government transfers and federal taxes, and it reports the contribution of various income components (such as wages and salaries,capital income, and business income) to the distribution of market income. The study presents information on trends in the distribution of income for all households combined and for households separated on the basis of age and the presence of children. In keeping with CBO's mandate to provide objective, impartial analysis, this study makes no recommendations.
Author: Edward Harris
Publisher:
ISBN:
Category : Households
Languages : en
Pages : 47
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Book Description
Author: National Academies of Sciences, Engineering, and Medicine
Publisher: National Academies Press
ISBN: 030931710X
Category : Social Science
Languages : en
Pages : 243
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Book Description
The U.S. population is aging. Social Security projections suggest that between 2013 and 2050, the population aged 65 and over will almost double, from 45 million to 86 million. One key driver of population aging is ongoing increases in life expectancy. Average U.S. life expectancy was 67 years for males and 73 years for females five decades ago; the averages are now 76 and 81, respectively. It has long been the case that better-educated, higher-income people enjoy longer life expectancies than less-educated, lower-income people. The causes include early life conditions, behavioral factors (such as nutrition, exercise, and smoking behaviors), stress, and access to health care services, all of which can vary across education and income. Our major entitlement programs - Medicare, Medicaid, Social Security, and Supplemental Security Income - have come to deliver disproportionately larger lifetime benefits to higher-income people because, on average, they are increasingly collecting those benefits over more years than others. This report studies the impact the growing gap in life expectancy has on the present value of lifetime benefits that people with higher or lower earnings will receive from major entitlement programs. The analysis presented in The Growing Gap in Life Expectancy by Income goes beyond an examination of the existing literature by providing the first comprehensive estimates of how lifetime benefits are affected by the changing distribution of life expectancy. The report also explores, from a lifetime benefit perspective, how the growing gap in longevity affects traditional policy analyses of reforms to the nation's leading entitlement programs. This in-depth analysis of the economic impacts of the longevity gap will inform debate and assist decision makers, economists, and researchers.
Author: Ruth D. Alford
Publisher:
ISBN: 9781619425149
Category : Income distribution
Languages : en
Pages : 136
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Book Description
This book examines real (inflation-adjusted) average household income, from 1979 to 2007 (because those endpoints allow comparisons between periods of similar overall economic activity as they were both years before recessions). During that period, the evolution of the nation's economy and the tax and spending policies of the federal government and state and local governments had varying effects on households at different points in the income distribution. The share in income accruing to higher-income households increased, whereas the share accruing to other households declined. As a result of that uneven income growth, the distribution of after-tax household income in the U.S. was substantially more unequal in 2007 than in 1979.
Author: Jonathan Heathcote
Publisher: DIANE Publishing
ISBN: 1437934919
Category : Business & Economics
Languages : en
Pages : 61
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Book Description
The authors conducted a systematic empirical study of cross-sectional inequality in the U.S., integrating data from various surveys. The authors follow the mapping suggested by the household budget constraint from individual wages to individual earnings, to household earnings, to disposable income, and, ultimately, to consumption and wealth. They document a continuous and sizable increase in wage inequality over the sample period. Changes in the distribution of hours worked sharpen the rise in earnings inequality before 1982, but mitigate its increase thereafter. Taxes and transfers compress the level of income inequality, especially at the bottom of the distribution, but have little effect on the overall trend. Charts and tables. This is a print-on-demand publication; it is not an original.
Author: A. B. Atkinson
Publisher: Oxford University Press
ISBN: 0199286892
Category : Business & Economics
Languages : en
Pages : 799
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Book Description
This volume brings together an exciting range of new studies of top incomes in a wide range of countries from around the world. The studies use data from income tax records to cast light on the dramatic changes that have taken place at the top of the income distribution. The results cover 22 countries and have a long time span, going back to 1875.
Author: Mr.Olivier Coibion
Publisher: International Monetary Fund
ISBN: 1475505493
Category : Business & Economics
Languages : en
Pages : 57
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Book Description
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures. Furthermore, monetary shocks can account for a significant component of the historical cyclical variation in income and consumption inequality. Using detailed micro-level data on income and consumption, we document the different channels via which monetary policy shocks affect inequality, as well as how these channels depend on the nature of the change in monetary policy.
Author: Ms.Era Dabla-Norris
Publisher: International Monetary Fund
ISBN: 1513547437
Category : Business & Economics
Languages : en
Pages : 39
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Book Description
This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
