Chart notes | Income

Tables

Table 2.1. Average family income, by income group, 1947–2010. Underlying data are from Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table F-2, “Share of Aggregate Income Received by Each Fifth and Top 5 Percent of All Families, All Races: 1947– 2010,” Table F-3, “Mean Income Received by Each Fifth and Top 5 Percent of Families, All Races: 1947 to 2010,” and Table F-5, “Race and Hispanic Origin of Householder—Families by Median and Mean Income: 1947 to 2010.” The years 1947, 1979, 1989, 2000, and 2007 are highlighted throughout the chapter because they are employment cycle peaks and are similar in nature to business cycle peaks. 1995 represents a midway point between cycles to show the growth or stagnation of the period. 2010 is highlighted because it is the most recent year for which data are available. Data are inflated to 2011 dollars using the CPI-U-RS (Consumer Price Index Research Series Using Current Methods).

Table 2.2. Average household income, by income group, 1967–2010. Underlying data are from Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table H-3, “Mean Income Received by Each Fifth and Top 5 Percent, All Races: 1967 to 2010.” Data are inflated to 2011 dollars using the CPI-U-RS.

Table 2.3. Minimum income thresholds for family and household income, by income group, 1947–2010. Underlying data are from Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table F-1, “Income Limits for Each Fifth and Top 5 Percent of Families (All Races): 1947 to 2010,” and Table H-1, “Income Limits for Each Fifth and Top 5 Percent of All Households: 1967 to 2010.” Data are inflated to 2011 dollars using the CPI-U-RS.

Table 2.4. Sources of pretax comprehensive income, by income group, 2007. Underlying data are from the Congressional Budget Office, Average Federal Taxes by Income Group, “Sources of Income for All Households, by Household Income Category, 1979 to 2007” [Excel spreadsheet]. Shares of pretax income, by income source, are given by CBO for the bottom, second, middle, fourth, and top fifth, and the top 10, 5, and 1 percent. Average pretax income is defined as the sum of each income groups’ wages, proprietors’ income, other business income, interest and dividends, capital gains pensions, cash transfers, in-kind income, imputed taxes, and other income. For the purposes of this chapter, capital income is defined as the sum of capital gains, interest and dividends, and other business income categories. Sources of income for the groups are calculated by multiplying the shares of each income source by average pretax income. To calculate average pretax income by source for the 95th–< 99th percentile, the aggregate incomes of the top 5 percent were subtracted from the aggregate incomes of the top 10 percent and divided by the total number of households in the 95th–<99th percentile. Aggregate income is calculated by multiplying the number of households in each income group by average pretax income source. The number of households is calculated by subtracting the number of households in the top 5 percent from the number of households in the top 10 percent. The same calculation is done for the 95th–<99th percentile using the top 5 percent and the top 1 percent. The share of total income categories claimed by each group is calculated by dividing the aggregate income for each income source in each income group by the total aggregate income for all households, minus negative income. Data are inflated to 2011 dollars using the CPI-U-RS.

Table 2.5. Median family income by race and ethnicity, 1947–2010. Underlying data are from Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table F-5, “Race and Hispanic Origin of Householder—Families by Median and Mean Income: 1947–2010.” Unlike with CPS microdata analyses presented in the book, race and ethnicity categories are not mutually exclusive (i.e., persons of Hispanic origin may be of any race, and white and black Hispanics are counted in the white and black columns as well as the Hispanic column). Data are inflated to 2011 dollars using the CPI-U-RS.

Table 2.6. Share of average income growth accounted for by the bottom 95 percent, top 5 percent, and top 1 percent, by dataset and income concept, 1979–2007

Underlying data are from Piketty and Saez (2012, Table A-6); Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table H-3, “Mean Household Income Received by Each Fifth and Top 5 percent;” Congressional Budget Office Average Federal Taxes by Income Group, “Sources of Income for All Households, by Household Income Category, 1979 to 2007” [Excel spreadsheet]; and Burkhauser, Larrimore, and Simon (2011), Table 4, “Quintile Income Growth by Business Cycle Using Each Income Series.” Each income concept’s contribution to overall income growth is calculated by multiplying the change in its average income from 1979 to 2007 by its share of the distribution (where, for example, the share of the distribution for the top 1 percent is .01), and dividing the result by the change in overall average income growth over the same time period.

Table 2.7. Effective tax rates for selected federal taxes, by income group, 1979–2007. Underlying data are from the Congressional Budget Office, Average Federal Taxes by Income Group, “Average Federal Tax Rates for All Households, by Comprehensive Household Income Quintile, 1979–2007” [Excel spreadsheet]. CBO defines individual income taxes as taxes attributed directly to households paying those taxes; social insurance (payroll) taxes are taxes attributed to households paying those taxes directly or paying them indirectly through their employers. Corporate income taxes are attributed to households according to a household’s share of capital income, and federal excise taxes are attributed to households according to their consumption of the taxed good or service.

Table 2.8. Tax rate, transfer rate, and tax rate net of transfers, by income group, 1979–2007. Underlying data are from the Congressional Budget Office Average Federal Taxes by Income Group, “Average Federal Tax Rates for All Households, by Comprehensive Household Income Quintile, 1979–2007,” “Sources of Income for All Households, by Household Income Category 1979 to 2007” [Excel spreadsheets] and unpublished data related to the same report on the composition of in-kind income, with a breakout for health spending (both government transfers and employer-sponsored insurance benefits). The tax rate is taken directly from the first Excel spreadsheet cited here, while the transfer rate is calculated as the share of cash transfers and Medicare and Medicaid spending in comprehensive income.

Table 2.9. Educational attainment, by income group, selected years, 1979–2007. Underlying data are from Current Population Survey Annual Social and Economic Supplement microdata; see Appendix A for details. The data are sorted by household income and placed into the income groupings. Then, an hours-weighted measure of the share of all hours worked by workers with the given educational attainment is constructed for each of the income groupings.

Table 2.10. Share of market-based personal income, by income type, selected years, 1959–2010. Underlying data for total capital income, rent, dividends, interest, total labor income, wages and salaries, fringe benefits, and proprietors’ income are from Bureau of Economic Analysis National Income and Product Accounts, Table 2.1, “Personal Income and Its Disposition.” Underlying data for realized capital gains come from the Internal Revenue Service, SOI Tax Stat–Individual Time Series Statistical Tables, Historical Table 1, “All Individual Income Tax Returns: Sources of Income and Tax Items, Tax Years 1913–2005,” and Table 1, “Individual Income Tax Returns: Selected Income and Tax Items for Specified Tax Years, 1999–2009.” Rent, dividends, interest, total labor income, wages and salaries, fringe benefits, proprietors’ income, and net capital gains are divided by the total market income (the sum of total capital income, total labor income, and proprietors’ income) for select years.

Table 2.11. Effect of the shift from labor to capital income on the top 1 percent of households, selected years, 1979–2007. Underlying data are from the Congressional Budget Office, Average Federal Taxes by Income Group, “Sources of Income for All Households, by Household Income Category, 1979 to 2007” [Excel spreadsheet]. The counterfactual holds the share of all income accounted for by capital income constant at its 1979 level. By implication, this means that all non-capital income sources rise over that time period (since overall income growth is assumed to remain the same). This extra non-capital income is distributed across income groupings in proportion to their actual income shares over time. Then the counterfactual income level of the top 1 percent is calculated and compared with actual trends. Data are inflated to 2011 dollars using the CPI-U-RS.

Table 2.12. Corporate sector income shares, profit rates, and capital-to-output ratio, selected years, 1959–2010. Underlying data are from the Bureau of Economic Analysis National Income and Product Accounts, Table 1.14, “Gross Value Added of Domestic Corporate Businesses in Current Dollars and Gross Value added of Nonfinancial Domestic Corporate Business in Current and Chained Dollars” and BEA Fixed Assets Accounts, Table 6.1, “Current-Cost Net Stock of Private Fixed Assets by Industry Group and Legal Form of Organization.” Total income shares are the sum of labor and capital income, specifically the sum of line items Compensation and Net Operating Surplus to get net value added in NIPA Table 1.14. Labor share is the share of compensation in net value added and capital is net operating surplus over net value added. Pretax profit rate is the net operating surplus divided by private fixed corporate assets, line item 2 from Table 6.1. Post-tax profit rate is the net operating surplus, without taxes, divided by private fixed corporate assets. The capital-to-output ratio is private fixed corporate assets divided by the constructed net value added.

Table 2.13. Change in sources of comprehensive income, middle fifth of households, selected years, 1979–2007 (2011 dollars). Underlying data are from the Congressional Budget Office, Average Federal Taxes by Income Group, “Sources of Income for All Households, by Household Income Category, 1979 to 2007” [Excel spreadsheet], as well as unpublished data related to the same CBO Web resource on the composition of in-kind income, with a breakout for health spending (both government transfers and employer-sponsored insurance benefits). “Imputed taxes” are taxes that are not directly paid by households to government (such as the employer’s share of the payroll tax), but which are “paid” in the form of lower wages and thus are added by the CBO to actual, observed wages to produce the measure of “pretax” income. “Other income” in the pensions category includes withdrawals from 401 (k) plans and traditional pensions and a small category of “other income” that CBO links with pension income in its reports. Note that the unpublished CBO data are unrounded, and produce slightly different income dollar values than the publicly available CBO dataset underlying Figures 2M and 2Z. For deflation of health care benefits (both transfers and employer-provided) we use the Consumer Price Index for medical care (CPI-MC) instead of the Consumer Price Index for Urban Consumers, Research Series (CPI-U-RS) that is used throughout the book.

Table 2.14. Change in sources of comprehensive income for elderly households in the middle fifth, selected years, 1979–2007. Underlying data are unpublished data on income source by family type from the Congressional Budget Office related to its 2010 Web resource, Average Federal Taxes by Income Group. “Imputed taxes” are taxes that are not directly paid by households to government (such as the employer’s share of the payroll tax), but which are “paid” in the form of lower wages and thus are added by the CBO to actual, observed wages to produce the measure of “pretax” income. “Other income” in the pensions category includes withdrawals from 401 (k) plans and traditional pensions, and a small category of “other income” that CBO links with pension income in its reports. The income levels for “Wages and imputed taxes” column and the “Pensions and other income” columns are calculated by the sum of the product of the shares of wages and imputed taxes multiplied by average pre-tax income for each income group and the sum of the product of the share of pensions and other income multiplied by average pretax income. The contribution to shares from income sources is calculated by multiplying the change in the types of income sources by the changes in the total income for elderly households. Data are inflated to 2011 dollars using the CPI-U-RS.

Table 2.15. Change in sources of comprehensive income for non-elderly households in the middle fifth, selected years, 1979–2007. Underlying data are unpublished data on income source by family type from the Congressional Budget Office related to its 2010 Web resource, Average Federal Taxes by Income Group. “Imputed taxes” are taxes that are not directly paid by households to government (such as the employer’s share of the payroll tax), but which are “paid” in the form of lower wages and thus are added by the CBO to actual, observed wages to produce the measure of “pretax” income. “Other income” in the pensions category includes withdrawals from 401 (k) plans and traditional pensions, and a small category of “other income” that CBO links with pension income in its reports. The income levels for “Wages and imputed taxes” column and the “Pensions and other income” columns are calculated by the sum of the product of the shares of wages and imputed taxes multiplied by average pretax income for each income group and the sum of the product of the share of pensions and other income multiplied by average pretax income. The contribution to shares from income sources is calculated by multiplying the change in the types of income sources by the changes in the total income for non-elderly households. Data are inflated to 2011 dollars using the CPI-U-RS. Note that the unpublished CBO data are unrounded, and produce slightly different income dollar values than the publicly available CBO dataset underlying Figures 2M and 2Z.

Table 2.16. Contributions to middle-fifth income growth, by income category and household type, selected years, 1979–2007. Underlying data are unpublished data on income source by family type from the Congressional Budget Office related to its 2010 Web resource, Average Federal Taxes by Income Group. Data are inflated to 2011 dollars using the CPI-U-RS.

Table 2.17. Contribution of hours versus hourly wages to annual wage growth for working-age households, by income group, selected years, 1979–2007. Underlying data are from Current Population Survey Annual Social and Economic Supplement microdata; see Appendix A for details. Households are ranked in the same way as in the Congressional Budget Office data—by household income divided by the square root of household size. Average annual wages and annual hours worked for each income group are then calculated, and a household average for hourly wages is calculated by dividing annual wages by annual hours. Data are inflated to 2011 dollars using the CPI-U-RS.

Table 2.18. Annual hours worked by married men and women age 25–54 with children, by income group, selected years, 1979–2010. Underlying data are from the Current Population Survey Annual Social and Economic Supplement microdata; see Appendix A for details.

Table 2.19. Impact of increasing education and experience on hourly wages of individuals in the middle fifth of the income distribution, selected years, 1979–2007. Underlying data are from Current Population Survey Annual Social and Economic Supplement microdata; see Appendix A for details. Households are ranked in the same way as in the Congressional Budget Office data—by household income divided by the square root of household size. Fifty age/experience “cells” are created (five educational categories by 10 potential experience categories). Average hourly earnings are calculated for each cell. To get the counterfactual wage growth that would have happened without education and experience upgrading, we hold the 1979 cell weights (i.e., the shares of total hours worked in each year by a given cell) constant, but allow the within-cell wage growth to occur. Data are inflated to 2011 dollars using the CPI-U-RS.

Figures

Figure 2A. Real median family income, 1947–2010. Underlying data are from Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table F-5, “Race and Hispanic Origin of Householder—Families by Median and Mean Income: 1947 to 2010.” Data are inflated to 2011 dollars using the CPI-U-RS.

Figure 2B. Real median income of working-age families, 1975–2010. Underlying data are from Current Population Survey Annual Social and Economic Supplement microdata; see Appendix A for details. Data are inflated to 2011 dollars using the CPI-U-RS.

Figure 2C. Average family income growth, by income group, 1947–2007. Underlying data are from Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table F-3, “Mean Income Received by Each Fifth and Top 5 Percent of Families, All Races: 1966 to 2010.” Data are inflated to 2011 dollars using the CPI-U-RS.

Figure 2D. Black median family income, as a share of white median family income, 1947–2010. Underlying data are from Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table F-5, “Race and Hispanic Origin of Householder—Families by Median and Mean Income: 1947 to 2010.”

Figure 2E. Median family income growth, by nativity, 1993–2010. Underlying data are from Current Population Survey Annual Social and Economic Supplement microdata; see Appendix A for details. Data is inflated to 2011 dollars using the CPI-U-RS and then indexed to 1993=100.

Figure 2F. Change in average family income, by income group, 2007–2010. Underlying data are from Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table F-3, “Mean Income Received by Each Fifth and Top 5 Percent of Families, All Races: 1966 to 2010.” Data are inflated to 2011 dollars using the CPI-U-RS.

Figure 2G. Change in real family income from the business cycle peak years 1989, 2000, and 2007. Underlying data are from Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table F-3, “Mean Income Received by Each Fifth and Top 5 Percent of Families, All Races: 1966 to 2010.” Data for each recession are indexed to the business cycle peak year preceding the recession=100.

Figure 2H. Average capital gains of the top 5% of the income distribution and the S&P 500 composite price index, 1979–2011. Underlying data are from Piketty and Saez (2012, Tables A-6 and A-8) and Shiller (2012). The inflation-adjusted S&P 500 data are taken directly from Shiller and converted into an index (1989=100). Income derived from realized capital gains is taken from Piketty and Saez (2012) and converted into an index as well. The Shiller data can be found at: http://www.econ.yale.edu/~shiller/data.htm, and the Piketty and Saez data can be found at: http://elsa.berkeley.edu/~saez/TabFig2010.xls.

Figure 2I. Change in real median household income, by race and ethnicity, 2007–2010. Underlying data are from Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table H-5, “Race and Hispanic Origin of Householder—Households by Median and Mean Income: 1967–2010.”

Figure 2J. Change in real family income of the middle fifth, actual and predicted, 2000–2018. Underlying data are from the Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Tables F-2, F-3, and F-5. Data are inflated to 2011 dollars using the CPI-U-RS. The projections are based on a regression analysis, based roughly on Katz and Krueger (1999), that uses the annual change in inflation-adjusted income of families in the middle fifth of the money income distribution as the dependent variable and the level of unemployment as the independent variable. The projections then use the regression parameters to forecast annual changes in middle-fifth family income based on unemployment forecasts through 2018 that are made by the Congressional Budget Office and Moody’s Economy.com, a division of Moody’s Analytics.

Figure 2K. Income growth for families at the 20th, 50th, and 95th percentiles, 1947–2010. Underlying data are from Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table F-1, “Income Limits for Each Fifth and Top 5 Percent of Families (All Races): 1947 to 2010,” and Table F-5, “Race and Hispanic Origin of Householder—Families by Median and Mean Income: 1947 to 2010.” Data are inflated to 2011 dollars using the CPI-U-RS and then indexed to 1979=100.

Figure 2L. Income growth for families at the 20th, 50th, and 95th percentiles, by nativity, 1993–2010. Underlying data are from Current Population Survey Annual Social and Economic Supplement microdata; see Appendix A for details. Data are inflated to 2011 dollars using the CPI-U-RS and then indexed to 1993=100.

Figure 2M. Change in real annual household income, by income group, 1979–2007. Underlying data are from the Congressional Budget Office, Average Federal Taxes by Income Group, “Sources of Income for All Households, by Household Income Category, 1979 to 2007” [Excel spreadsheet]. Cumulative growth is calculated by dividing the average pretax income in the base year (1979) into average pretax income in each subsequent year (1980–2007). The data provide average pretax income for the bottom, second, middle, fourth, and top fifths, and for the top 10, 5, and 1 percents. For the 80th–<90th percentile, average pretax income is calculated by subtracting the aggregate income of the top 10 percent from aggregate income of the top fifth and dividing by the total number of households in the 80th–<90th percentile. Aggregate income is calculated by multiplying the number of households in each income group by average pretax income. The number of households is calculated by subtracting the number of households in the top 10 percent from the number of households in the top fifth. This same procedure is done between the top 10 percent and top 5 percent to calculate average pretax income for the 90th–<95th percentile and between the top 5 percent and top 1 percent to calculate the average pretax income for the 95th–<99th percentile. Note that this publicly available CBO dataset is rounded, and produces slightly different income dollar values than the unpublished, unrounded CBO data underlying tables 2.13 and 2.16. Data are inflated to 2011 dollars using the CPI-U-RS, and then indexed to 1979=0.

Text Box Figure 2AA. Share of income held by high-income groups, 1913–2010. Underlying data are from Piketty and Saez (2012, Table A-3), Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table H-2, “Share of Aggregate Income Received by Each Fifth and Top 5 Percent of Households,” and the Congressional Budget Office Average Federal Taxes by Income Group report, “Average Pre-Tax Income for All Households, by Household Income Category, 1979–2007” [Excel spreadsheet]. The top 5 percent share is shown because the CPS data do not allow examination of the top 1 percent.

Text Box Figure 2AB. Share of income held by top 1 percent in developed countries, 1913–2009. Underlying data are from the World Top Incomes Database.

Figure 2N. Change in the share of market income and post-tax, post-transfer income that households claim, by income group, 1979–2007. Underlying data are from the Congressional Budget Office, Average Federal Taxes by Income Group, “Pre-Tax Income Shares All Households, by Household Income Category, 1979–2007,” “After-Tax Income Shares for All Households, by Household Income Category, 1979–2007,” and “Sources of Income for All Households, by Household Income Category, 1979 to 2007” [Excel spreadsheets] and unpublished health benefit data pertaining to this report. The shares of pre- and post-tax income are taken directly from the first two datasets cited here. The change in market income is then expressed as a share of the overall change in pretax income (transfers are essentially the only nonmarket income type that changes the pretax income shares).

Figure 2O. Effect of tax policies on each household income group’s share of total income, 1979 and 2007, and the difference needed in 2007 to preserve 1979 post-tax shares. Underlying data are from the Congressional Budget Office,
Average Federal Taxes by Income Group, “Average Federal Tax Rates for All Households, by Comprehensive Household Income Quintile, 1979–2007”and “Sources of Income for All Households, by Household Income Category, 1979 to 2007” [Excel Spreadsheets].

Figure 2P. Average effective federal tax rates, by household income group, 1979–2007. Underlying data are from the Congressional Budget Office, Average Federal Taxes by Income Group, “Average Federal Tax Rates for All Households, by Comprehensive Household Income Quintile, 1979–2007” [Excel spreadsheet] and “Effective Federal Tax Rates for All Households, by Comprehensive Household Income Category, 1979 to 2005 (Percent)” [Excel spreadsheet supplement to Historical Effective Federal Tax Rates: 1979 to 2005]. The tax rates for the top .01, top 0.1 and top 1.0 percent are given by CBO. The tax rates for the 20th–<90th percentile, 90th–<95th percentile, and the 95th–<99th percentile are calculated by taking an average of each income groups’ tax rate weighted by their share of total income.

Figure 2Q. Average effective federal tax rates, by income group, 1960–2004. Underlying data are from Piketty and Saez (2007), Table 2, “Federal Rates by Income Groups, 1960 to 2004.” The top .01 percent, the 99.9th–<99.99th percentile, 99.5th–<99.9th percentile, and 99.0–<99.5th percentile data are provided. The 20th–<99th percentile tax rate was calculated as an average of each income groups’ tax rate weighted by their share of total income.

Figure 2R. Change in real cash and medical transfer income, by income group, 1979–2007. Underlying data are from the Congressional Budget Office, Average Federal Taxes by Income Group, “Sources of Income for All Households, by Household Income Category, 1979 to 2007” [Excel spreadsheet] and unpublished data related to the same report on the composition of in-kind income, with a breakout for health spending (both government transfers as well as employer-sponsored insurance benefits).

Figure 2S. Change in tax rate, transfer rate, and tax rate net of transfers, by income group, 1979–2007. Data in Figure 2S are a subset of the data in Table 2.8.

Figure 2T. Change in real annual household wages, by income group, 1979–2007. Underlying data are from the Congressional Budget Office Average Federal Taxes by Income Group, “Sources of Income for All Households, by Household Income Category, 1979 to 2007” [Excel spreadsheet]. Cumulative growth is calculated by dividing the average wages in the base year (1979) into average wages in each subsequent year (1980–2007). Average wages by income group are calculated by multiplying the share of wages by the average pretax income in each income group. See Figure 2M notes for calculations of the 80th–<90th percentile, 90th–<95th percentile, and 95th–<99th percentile. Data are inflated to 2011 dollars using the CPI-U-RS, and then indexed to 1979=0.

Figure 2U. Change in real household capital income, by income group, 1979–2007. Underlying data are from the Congressional Budget Office, Average Federal Taxes by Income Group, “Sources of Income for All Households, by Household Income Category, 1979–2007” [Excel spreadsheet]. Cumulative growth is calculated by dividing the average capital income in the base year (1979) into average capital income in each subsequent year (1980–2007). Average capital income by income group is calculated by multiplying the share of capital income by the average pretax income in each income group. See Figure 2M notes for calculations of the 80th–<90th percentile, 90th–<95th percentile, and 95th–<99th percentile; see Table 2.4 notes for explanation of capital income. Data are inflated to 2011 dollars using the CPI-U-RS, and then indexed to 1979=0.

Figure 2V. Share of total household capital income claimed, by income group, 1979–2007. Underlying data are from the Congressional Budget Office, Average Federal Taxes by Income Group, “Sources of Income for All Households, by Household Income Category, 1979 to 2007” [Excel spreadsheet]. The share of capital income is each income group’s capital income share of the total capital income for all income groups. See Table 2.4 notes for the calculations for income group breakdowns and definition of capital income.

Figure 2W. Pretax and post-tax profit rates, 1959–2010. Underlying data are from the Bureau of Economic Analysis National Income and Product Accounts tables, Table 1.14, “Gross Value Added of Domestic Corporate Businesses in Current Dollars and Gross Value added of Nonfinancial Domestic Corporate Business in Current and Chained Dollars” and Fixed Assets Accounts tables, Table 6.1, “Current-Cost Net Stock of Private Fixed Assets by Industry Group and Legal Form of Organization.” For calculations of pre- and post-tax profit rate, see Table 2.12 notes.

Figure 2X. Capital share of total corporate-sector income, actual and counterfactual holding 1979 profit rate constant, 1979–2010. Underlying data are from the Bureau of Economic Analysis, National Income and Product Accounts tables, Table 1.14, “Gross Value Added of Domestic Corporate Businesses in Current Dollars and Gross Value added of Nonfinancial Domestic Corporate Business in Current and Chained Dollars” and Fixed Assets Accounts tables, Table 6.1, “Current-Cost Net Stock of Private Fixed Assets by Industry Group and Legal Form of Organization.” For calculations of pretax and post-tax profit rate, see Table 2.12 notes.

Figure 2Y. Share of total household income growth attributable to various income groups, 1979–2007. Underlying data are from the Congressional Budget Office Average Federal Taxes by Income Group, “Sources of Income for All Households, by Household Income Category, 1979 to 2007” [Excel spreadsheet]. Each group’s contribution to overall income growth is calculated by multiplying the change in its average income from 1979 to 2007 by its share of the distribution (where, for example, the share of the distribution for the top 1 percent is .01), and dividing the result by the change in overall average income growth over the same time period. For pretax income calculations of the 90th–<95th percentile and 95th–99th percentile, see Figure 2M notes.

Figure 2Z. Change in household income, as reported by CBO comprehensive income data and CPS money income data, by income group, 1979–2007. Underlying data are from Congressional Budget Office Average Federal Taxes by Income Group report, “Sources of Income for All Households, by Household Income Category, 1979 to 2007” [Excel spreadsheet], and Current Population Survey Annual Social and Economic Supplement Historical Income Tables, Table F-3, “Mean Income received by each fifth and top 5 percent of all families, 1966–2010.” Percentage change of household income is calculated between the years 1979 and 2007. Note that this publicly available CBO dataset is rounded, and produces slightly different income dollar values than the unpublished, unrounded CBO data underlying tables 2.13 and 2.16. Data are inflated to 2011 dollars using the CPI-U-RS, and then indexed to 1979=0.

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