Recent Trends in US Income Distributions in Tax Record Data Using More Comprehensive Measures of Income Including Real Accrued Capital Gains

Dados Bibliográficos

ID10180985
AutoresJeff Larrimore (0000-0001-9715-3983, Federal Reserve Board of Governors), Richard V Burkhauser (0000-0003-4629-0253, Cornell University), Gerald Auten (United States Department of the Treasury), Philip Armour (RAND Corporation)
Ano2020
Volume129
Fascículo5
Páginas1319-1360
Data de publicação2020-12-18
Peer ReviewedSim
Open AccessNão
TipoARTICLE
PeriódicoJournal of Political Economy (JOURNAL)
Identificadores do periódicoISSN: 0022-3808 • E-ISSN: 1537-534X
EditoraUniversity of Chicago Press (PUBLISHER • US)
DOI10.1086/713098
OpenAlexW3113483537
IdiomaEN
Citações recebidas11
Referências citadas33

Use of Internal Revenue Service (IRS) tax records improves researchers' ability to track income trends, although the focus on taxable market income in this research excludes important income sources. Using IRS data in combination with other data sources, we explore the effect of measuring inequality levels and trends with income, including real accrued capital gains based on Haig-Simons principles. While median market income fell 10% from 1989 to 2016, median economic income increased by 26% using our Haig-Simons-based measure. Top 1% income shares were lower and increased by only about one-third of that estimated using previous approaches over this period

Adjusted gross income · Capital income · Comprehensive income · Demographic economics · Economic inequality · Economics · Gross income · Income distribution · Income inequality metrics · Income shares · Income tax · Inequality · International taxation · Labour economics · Net national income · Public economics · State income tax · Tax reform · Taxable income · Write-off · Accounting · Financial Literacy, Pension, Retirement Analysis · Fiscal Policy and Economic Growth · Income, Poverty, and Inequality