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Introduction it is easy to sing the praises of china s economic performance.
Distribution of us income by households 2010. In 2015 the us median household income spiked 5 2 per cent reaching 56 000 making it the first annual hike in median household income since the start of the great recession. The net worth of lower income families increased from 12 3oo in 1983 to 20 600 in 2001 up 67. In 2010 the median household income in the united states was 49 445 which was down from the 49 777 that had been recorded in 2009. The median household income increased for the fifth consecutive year.
In 2010 the federal tax rate for the bottom quintile of the income distribution was 1 5 percent and that for the top quintile was 24 0 percent see the figure below. The top 1 percent of all households in the united states had an average federal tax rate of 29 4 percent in 2010 1 higher income households pay much more in federal. As a result 25 of households have incomes above 100 000 14 even though only 9 2 of americans had incomes exceeding 100 000 in 2010. In 2010 the federal tax rate for the bottom quintile of the income distribution was 1 5 per cent and that for the top quintile was 24 0 percent see figure 1.
Even so the gains for both lower and middle income families were outdistanced by upper income families whose median wealth increased by 85 over the same period from 344 100 in 1983 to 636 000 in 2001. A study on us census income data claims that when using the national accounting methodology u s. Figures are expressed in 2018 dollars. 3 december 25 2010 revision the size and distribution of hidden household income in china xiaolu wang and wing thye woo 1.
The share of lower income households remained constant from 1980 to 2010 at 32 percent. In 2019 a little more than 53 percent of americans had an annual household income that was less than 75 000 u s. The least populous of the compared places has a population of 383 899. Gross median household income was 57 739 in 2010 table 3.
Household income by place in the united states there are 29 322 places in the united states. The distribution of income among individuals differs substantially from household incomes as 39 of all households had two or more income earners. By 2010 the share of households in the upper income bracket had increased to 20 percent.
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