Wage Increases, Transfers, and the Socially Determined Income Distribution in the USA

Lance Taylor, Armon Rezai, Rishabh Kumar, Nelson Barbosa-Filho and Laura Barbosa de Carvalho

No 11, Working Papers Series from Institute for New Economic Thinking

Abstract: This paper is based on a social accounting matrix (SAM) which incorporates the size distribution distribution study, and BLS consumer surveys. Sources and uses of incomes are disaggregated by household groups including the top 1%. Their importance (including saving rates) differs fiscal (broadly progressive) and financial (regressive) channels. A third major flow over time has been a ten percentage point increase in the GDP share of the top 1%. A simulation model is used to illustrate how reasonable modifications to tax/transfer programs and increasing low wages cannot offset the historical redistribution toward the well-to-do.

Pages: 21 pages
Date: 2014-04
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Journal Article: Wage increases, transfers, and the socially determined income distribution in the USA (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:thk:wpaper:11

DOI: 10.2139/ssrn.2638042

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