Current estimates on poverty in the U. The official poverty rate is Each September the U. Census Bureau releases an update of the national poverty rate for the prior year.
Income Distribution—a Chart to Contemplate Dave Schuler March 4, The chart above, courtesy of Census Bureau data, illustrates household income distribution in the United States based on the most recent information available.
You can click on the chart for a larger version. I find this chart interesting for any number of reasons. There are any number of observations I could make about this chart.
How has the chart changed over time? The first time I saw a chart like this was a little over 40 years ago. I found it a bit shocking back then. It was actually pretty similar to this chart other than that the income numbers were all smaller. The biggest change I can recall is that those two bars at the far right are both higher than they used to be and, if I remember correctly, the several bars just to the left of them are lower.
It also might be an artifact of reporting.
I also think that the several bars just to the right of that one largely consist of households with more than one wage earner, both earning minimum wage or, possibly, slightly above minimum wage.
That brings us to the real question. Why are those two bars at the far right of the chart so high? Note that the second bar from the right should actually be thought of as ten bars. The explanations I can come up with include inherited wealth and various other forms of rent-seeking.
There are about million households in the United States. Remember that the tail on the right is actually very, very long. There are roughly a half million physicians in the country. Nearly all of them are in those last two bars in the chart.
Lawyers who graduated from the top 15 law schools comprise another chunk of those two bars as do middle and upper level managers of medium-sized and large companies and some top managers at small companies.Household income is a measure of current private income commonly used by the United States government and private institutions.
To measure the income of a household, the pre-tax money receipts of all residents over the age of 18 over a single year are combined. Household income is an economic measure that can be applied to one household, or aggregated across a large group such as a county, city, or the whole country.
It is commonly used by the United States government and private institutions to describe a household's economic status or to track economic trends in the US. As already discussed, lower household income coupled with larger household size means that illegal alien households will pay less in taxes and use more in services than native households because households are the primary basis on which taxes are assessed and benefits distributed in the United States.
times as large as average household income in the bottom fifth of the distribution; in , The distribution of income in the United States continues to hold considerable congressional and The U.S.
Income Distribution: Trends and Issues. We calculate United States household income brackets in with gains from Also have all percentiles including median and one percent (1%).
This tells us a lot since the median household income is at $50, Since the Census data looks at households, this data hones in on individual wage earners. Since the Census data looks at households, this data hones in on individual wage earners.