According to Table 2.4, (a) What is the average income in the United States? (b) What percentage
Question:
(a) What is the average income in the United States?
(b) What percentage of the average income of people in the highest fifth would have to be taxed away o bring them down to that average?
TABLE 2.4 Unequal Incomes
Transcribed Image Text:
Share of Total Income (Percent) 51.2% 23.2 14.3 8.2 3.1 2014 Income Income Group Highest fifth Second fifth Third fifth Fourth fifth Lowest fifth Average Income (Dollars) Above $112,000 $194,053 87,834 54,041 31,087 11,676 68,000–112,000 41,000–68,000 21,000–41,000 0-21,000
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