EconPapers    
Economics at your fingertips  
 

The Rise of Income and Wealth Inequality in America: Evidence from Distributional Macroeconomic Accounts

Emmanuel Saez () and Gabriel Zucman ()
Additional contact information
Gabriel Zucman: University of California [Berkeley] - University of California

Working Papers from HAL

Abstract: This paper studies inequality in America through the lens of distributional macroeconomic accounts-comprehensive distributions of the aggregate amount of income and wealth recorded in the o cial macroeconomic accounts of the United States. We use these distributional macroeconomic accounts to quantify the rise of income and wealth concentration since the late 1970s, the change in tax progressivity, and the direct redistributive e↵ects of government intervention in the economy. Between 1978 and 2018, the share of pre-tax income earned by the top 1% rose from 10% to about 19% and the share of wealth owned by the top 0.1% rose from 7% to about 18%. In 2018, the tax system was regressive at the top-end; the top 400 wealthiest Americans paid a lower average tax rate than the macroeconomic tax rate of 29%. We confront our methods and findings with those of other studies, pinpoint the areas where more research is needed, and describe how additional data collection could improve inequality measurement.

Date: 2020-09
New Economics Papers: this item is included in nep-his
Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-03022110
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
https://halshs.archives-ouvertes.fr/halshs-03022110/document (application/pdf)

Related works:
Journal Article: The Rise of Income and Wealth Inequality in America: Evidence from Distributional Macroeconomic Accounts (2020) Downloads
Working Paper: The Rise of Income and Wealth Inequality in America: Evidence from Distributional Macroeconomic Accounts (2020) Downloads
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:hal:wpaper:halshs-03022110

Access Statistics for this paper

More papers in Working Papers from HAL
Bibliographic data for series maintained by CCSD ().

 
Page updated 2021-04-06
Handle: RePEc:hal:wpaper:halshs-03022110