000			01730nam a22001577a 4500
999			_c517523 _d517523
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100			_aSaez, Emmanuel and Zucman, Gabriel _926747
245			_aHow much income and wealth inequality: The rise of income and wealth inequality in america: Evidence from distributional macroeconomic accounts
260			_aThe Journal of Economic Perspectives
300			_a34(4), Fall, 2020: p.3-26
520			_aThis paper studies inequality in America through the lens of distributional macroeconomic accounts—comprehensive distributions of the aggregate amount of income and wealth recorded in the official macroeconomic accounts of the United States. We use these distributional macroeconomic accounts to quantify the rise of income and wealth concentration since the late 1970s, the change in tax progressivity, and the direct redistributive effects of government intervention in the economy. Between 1978 and 2018, the share of pre-tax income earned by the top 1 percent rose from 10 percent to about 19 percent, and the share of wealth owned by the top 0.1 percent rose from 7 percent to about 18 percent. In 2018, the tax system was regressive at the top-end; the top 400 wealthiest Americans paid a lower average tax rate than the macroeconomic tax rate of 29 percent. We confront our methods and findings with those of other studies, pinpoint the areas where more research is needed, and describe how additional data collection could improve inequality measurement.
650			_aIncome, Wealth inequality, Wealth inequality - America, Distributional macroeconomic accounts _926748
773			_aThe Journal of Economic Perspectives
906			_aINCOME DISTRIBUTION
942			_cAR