Trillions of dollars of unrealized capital gains permanently escape taxation, disproportionately benefitting the richest Americans. Congress could close this loophole.
This year’s New York art auctions disappointed. The $1.4 billion in spring sales were 22 percent lower than 2023, and off 36 percent from 2022,...
In a recent New York Times column (paywall), Berkeley economist Gabriel Zucman calculated that the highest-income Americans pay only about 23 percentof their income in...
Median income of families annually by selected family characteristics including type of residence, region, age of householder, family size, race or ethnicity.
https://www.taxpolicycenter.org/statistics/median-income-family-characteristics
There is substantial evidence that income inequality in America rose throughout the late 20 th and early 21 st centuries. Influential research by Thomas Piketty,...
https://www.taxpolicycenter.org/taxvox/measuring-income-inequality-primer-debate
The ratio of total debt payments to total income of all families across the US was 9.9% in 2022, the lowest it has been in 30+ years.
https://www.taxpolicycenter.org/fiscal-fact/debt-payments-over-time-1989-2022
Among families who owned their primary residences in 2022, the median value of their primary residences was $330,000 for White families, $275,000 for Hispanic or Latino families, and $250,000 for...
https://www.taxpolicycenter.org/fiscal-fact/median-value-primary-residence-assets-2022
Between 1989 and 2022, in inflation-adjusted terms, the median net wealth of those with college degrees has increased 58%, whereas it has decreased 32% for those without high school diplomas. One...
https://www.taxpolicycenter.org/fiscal-fact/wealth-educational-attainment
Virtually all families hold some amount of financial assets, broadly defined. While 99% of families held checking or savings accounts in 2022, only 54% of families held retirement accounts and 21...
https://www.taxpolicycenter.org/fiscal-fact/family-holdings-financial-assets
Ratio of debt payments to family income (aggregate and median), by selected characteristics of families, for survey years.