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The Distribution of Household Income, 2018

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  • Congressional Budget Office

Abstract

In 2018, average household income before accounting for means-tested transfers and federal taxes was $22,500 among households in the lowest income quintile and $321,700 among those in the highest quintile. CBO estimates that, after accounting for the effects of transfers and taxes, average income among the lowest and highest quintiles was $37,700 and $243,900, respectively. Between 1979 and 2018, average income, both before and after means-tested transfers and federal taxes, grew in all quintiles, but it increased most in the highest quintile.

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  • Congressional Budget Office, 2021. "The Distribution of Household Income, 2018," Reports 57061, Congressional Budget Office.
    • Handle: RePEc:cbo:report:57061
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    File URL: https://www.cbo.gov/system/files/2021-08/57061-Distribution-Household-Income.pdf
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    Cited by:

    1. Athiphat Muthitacharoen & Trongwut Burong & Athiphat Muthitacharoen, 2023. "Climbing the Economic Ladder: Earnings Inequality and Intragenerational Mobility among Thai Formal Workers," CESifo Working Paper Series 10202, CESifo.
    2. Jon Eguia & Dimitrios Xefteris, 2022. "Lognormal (Re)Distribution: A Macrofounded Theory of Inequality," University of Cyprus Working Papers in Economics 04-2022, University of Cyprus Department of Economics.
    3. Marina Gindelsky, 2022. "Do transfers lower inequality between households? Demographic evidence from Distributional National Accounts," Economic Inquiry, Western Economic Association International, vol. 60(3), pages 1233-1257, July.
    4. 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.
    5. Jody W. Lipford, 2022. "The Distribution of Transfers and Taxes: Incentives and Implications for the US Deficit and Debt," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 37(Winter 20), pages 1-20.

    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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