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In economics, income distribution covers how a country's total GDP is distributed amongst its population. [1] Economic theory and economic policy have long seen income and its distribution as a central concern. Unequal distribution of income causes economic inequality which is a concern in almost all countries around the world. [2] [3]
Income ratios include the pre-tax national income share held by top 10% of the population and the ratio of the upper bound value of the ninth decile (i.e. the 10% of people with highest income) to that of the upper bound value of the first decile (the ratio of the average income of the richest 10% to the poorest 10%).
In economics, distribution is the way total output, income, or wealth is distributed among individuals or among the factors of production (such as labour, land, and capital). [1] In general theory and in for example the U.S. National Income and Product Accounts , each unit of output corresponds to a unit of income.
In economics, the consumption distribution or consumption inequality is an alternative to the income distribution or wealth distribution for judging economic inequality, comparing levels of consumption rather than income or wealth. [51] This is an important measure of inequality as the basic utility of the wealth or income is the expenditure. [52]
[27]: 2 CBO found income distribution over a multi-year period "modestly" more equal than annual income, [27]: 4 confirming earlier studies. [263] According to Noah, adjusting for demographic factors such as increasing age and smaller households, indicates that income inequality is less extreme but growing faster than without the adjustment.
The distribution of income among individuals differs substantially from household incomes as 39% of all households had two or more income earners. As a result, 25% of households have incomes above $100,000, [ 16 ] even though only 9.2% of Americans had incomes exceeding $100,000 in 2010.
Considering that the median household income in the U.S. was $80,610 in 2023, that’s a huge chunk of a family’s annual income. Raising a child until the age of 18 averages $413,810, according ...
While pre-tax income is the primary driver of income inequality, the less progressive tax code further increased the share of after-tax income going to the highest income groups. For example, had these tax changes not occurred, the after-tax income share of the top 0.1% would have been approximately 4.5% in 2000 instead of the 7.3% actual figure.