The Distribution of Household Income, 2016

Congressional Budget Office

No 55413, Reports from 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.

JEL-codes: H20 H24 H50 J30 (search for similar items in EconPapers)
Date: 2019-07-09
References: Add references at CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
https://www.cbo.gov/system/files/2019-07/55413-CBO ... hold-income-2016.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cbo:report:55413

Access Statistics for this paper

More papers in Reports from Congressional Budget Office Contact information at EDIRC.
Bibliographic data for series maintained by ().