America’s Income Highly Concentrated in Wealthiest Households
America’s Income Highly Concentrated in Wealthiest Households
(Bloomberg) -- About one-third of U.S. disposable personal income is held by the top 10% of households, according to new statistics that measure how the nation’s personal income is distributed from the Bureau of Economic Analysis.
The statistics show that households in the top 10% of incomes accounted for 33.1% of the nation’s disposable personal income (personal income less taxes) in 2019. Households in the lowest 30% received 10.2% of after-tax income.
The report’s findings are yet another addition to a debate about worsening inequality. In particular, that data show the concentration of passive income among the highest earners.
The top 20% of households by income earn more than 80% of dividend income, more than two thirds of interest income and close to half of rental income. The top quintile received close to half of all compensation too. The top half of households by income do pay 92% of taxes, according to the data.
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