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The Distribution of Household Income, 2015

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  • Congressional Budget Office

Abstract

In 2015, average household income before accounting for means-tested transfers and federal taxes was $20,000 for the lowest income quintile (fifth) and $292,000 for the highest quintile. Those transfers and taxes increased average household income toward the bottom of the income distribution and reduced income 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 $33,000 and $215,000, respectively, CBO estimates.

Suggested Citation

  • Congressional Budget Office, 2018. "The Distribution of Household Income, 2015," Reports 54646, Congressional Budget Office.
    • Handle: RePEc:cbo:report:54646
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    File URL: https://www.cbo.gov/system/files/2018-11/54646-Distribution_of_Household_Income_2015_0.pdf
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    Citations

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    Cited by:

    1. Thomas Piketty & Emmanuel Saez & Gabriel Zucman, 2019. "Simplified Distributional National Accounts," AEA Papers and Proceedings, American Economic Association, vol. 109, pages 289-295, May.
    2. 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.
    3. Mark C. Long, 2022. "Seattle's local minimum wage and earnings inequality," Economic Inquiry, Western Economic Association International, vol. 60(2), pages 528-542, April.
    4. Jonathan Rothwell, 2019. "The Political Economy of Inequality in Rich Democracies," LIS Working papers 772, LIS Cross-National Data Center in Luxembourg.
    5. 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.
    6. 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.
    7. Dimitri B. Papadimitriou & Michalis Nikiforos & Gennaro Zezza, 2019. "Can Redistribution Help Build a More Stable Economy?," Economics Strategic Analysis Archive sa_4_19, Levy Economics Institute.
    8. 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.

    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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