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Transfer Payments and Investment Income in the Nonmetro United States

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  • Bentley, Susan E.

Abstract

Transfer payments and investment income—termed unearned income—accounted for almost 40 percent, $3,580, of total personal income in the nonmetro United States in 1983, up from just over 20 percent in 1969. Retirees received most transfer payments from public retirement programs like Social Security and Medicare. Most investment income came from interest rather than dividends or rent. Unearned income represented a greater share of total personal income in nonmetro counties than metro counties, reflecting the lower incomes of rural residents. High inflation during the late seventies and early eighties was a major factor in the growth in transfer payments, many of which are indexed to the cost of living. Record high interest rates led to the dramatic growth in investment income. This report examines the various forms of unearned income and relates them to personal income.

Suggested Citation

Handle: RePEc:ags:ersrdr:334323
DOI: 10.22004/ag.econ.334323
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