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The Distribution of Household Income, 2016

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  • Congressional Budget Office

Abstract

In 2016, average income before accounting for means-tested transfers and federal taxes was $21,000 for the lowest income quintile (fifth) of U.S. households and $291,000 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, CBO estimates that average household income for the lowest and highest quintiles was $35,000 and $214,000, respectively.

Suggested Citation

  • Congressional Budget Office, 2019. "The Distribution of Household Income, 2016," Reports 55413, Congressional Budget Office.
    • Handle: RePEc:cbo:report:55413
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    File URL: https://www.cbo.gov/system/files/2019-07/55413-CBO-distribution-of-household-income-2016.pdf
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    Citations

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    Cited by:

    1. Kevin L. McKinney & John M. Abowd & John Sabelhaus, 2021. "United States Earnings Dynamics: Inequality, Mobility, and Volatility," NBER Chapters, in: Measuring Distribution and Mobility of Income and Wealth, pages 69-104, National Bureau of Economic Research, Inc.
    2. Bagis, Bilal & Yumurtaci, Aynur, 2020. "Welfare Perceptions of the Youth: A Turkish Case Study," GLO Discussion Paper Series 671, Global Labor Organization (GLO).
    3. Wojciech Kopczuk & Eric Zwick, 2020. "Business Incomes at the Top," Journal of Economic Perspectives, American Economic Association, vol. 34(4), pages 27-51, Fall.
    4. Muhammad Hilmi Abdul Majid & Kamarulzaman Ibrahim, 2021. "On Bayesian approach to composite Pareto models," PLOS ONE, Public Library of Science, vol. 16(9), pages 1-22, September.
    5. Brewer, Mike & Joyce, Robert & Waters, Tom & Woods, Joseph, 2020. "A method for decomposing the impact of reforms on the long-run income distribution, with an application to universal credit," Economics Letters, Elsevier, vol. 192(C).

    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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