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The Distribution of Household Income, 2014

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  • Congressional Budget Office

Abstract

In 2014, average household income before accounting for means-tested transfers and federal taxes was $19,000 for the lowest income quintile (fifth) and $281,000 for the highest quintile. Those transfers and taxes increased average household incomes toward the bottom of the income distribution and reduced incomes toward the top of the distribution. After accounting for the effects of transfers and taxes, average household income for the lowest and highest quintiles was $31,000 and $207,000, respectively, CBO estimates.

Suggested Citation

  • Congressional Budget Office, 2018. "The Distribution of Household Income, 2014," Reports 53597, Congressional Budget Office.
    • Handle: RePEc:cbo:report:53597
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    File URL: https://www.cbo.gov/system/files/115th-congress-2017-2018/reports/53597-distribution-household-income-2014.pdf
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    Citations

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    Cited by:

    1. David Splinter, 2019. "Who Pays No Tax? The Declining Fraction Paying Income Taxes And Increasing Tax Progressivity," Contemporary Economic Policy, Western Economic Association International, vol. 37(3), pages 413-426, July.
    2. Scott R. Baker & Stephen Teng Sun & Constantine Yannelis, 2020. "Corporate Taxes and Retail Prices," NBER Working Papers 27058, National Bureau of Economic Research, Inc.
    3. Jeff Larrimore & Jake Mortenson & David Splinter, 2020. "Presence and Persistence of Poverty in US Tax Data," NBER Chapters, in: Measuring Distribution and Mobility of Income and Wealth, pages 383-409, National Bureau of Economic Research, Inc.
    4. Thomas Piketty & Emmanuel Saez & Gabriel Zucman, 2019. "Simplified Distributional National Accounts," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 289-295, May.
    5. Komlos John, 2018. "On the Accuracy of Estimating the Inflation Rate: Marty Feldstein as Dr. Pangloss," The Economists' Voice, De Gruyter, vol. 15(1), pages 1-3, December.
    6. Dana Rotz & Brian Goesling & Hande Inanc & Gregory Chojnacki, "undated". "Economic Benefits of Delayed Sexual Activity," Mathematica Policy Research Reports 248b878cd4254142ac8c13102, Mathematica Policy Research.
    7. Christopher Wimer & Zachary Parolin & Anny Fenton & Liana Fox & Christopher Jencks, 2020. "The Direct Effect of Taxes and Transfers on Changes in the U.S. Income Distribution, 1967–2015," Demography, Springer;Population Association of America (PAA), vol. 57(5), pages 1833-1851, October.
    8. Nikolaos Papanikolaou, 2021. "Tax Progressivity of Personal Wages and Income Inequality," JRFM, MDPI, vol. 14(2), pages 1-11, February.
    9. Jonathan Rothwell, 2019. "The Political Economy of Inequality in Rich Democracies," LIS Working papers 772, LIS Cross-National Data Center in Luxembourg.
    10. Jolliffe, Dean & Tetteh-Baah, Samuel Kofi, 2022. "Identifying the Poor – Accounting for Household Economies of Scale in Global Poverty Estimates," IZA Discussion Papers 15615, Institute of Labor Economics (IZA).
    11. Bruce D. Meyer & Derek Wu & Grace Finley & Patrick Langetieg & Carla Medalia & Mark Payne & Alan Plumley, 2020. "The Accuracy of Tax Imputations: Estimating Tax Liabilities and Credits Using Linked Survey and Administrative Data," NBER Chapters, in: Measuring Distribution and Mobility of Income and Wealth, pages 459-498, National Bureau of Economic Research, Inc.
    12. Gerald Auten & David Splinter, 2019. "Top 1 Percent Income Shares: Comparing Estimates Using Tax Data," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 307-311, May.
    13. Nikolaos Papanikolaou, 2020. "Markov-Switching Model of Family Income Quintile Shares," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 48(2), pages 207-222, June.

    More about this item

    JEL classification:

    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General

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