Economic Inequality

Income inequality nearly doubled among Asians in the U.S. from 1970 to 2016. Sizable income gaps persist across racial and ethnic groups, a new study finds.

The gap in the standard of living between Asians near the top and the bottom of the income ladder nearly doubled from 1970 to
2016. Amid rising inequality overall, Asians displaced blacks as the most economically divided major U.S. racial or ethnic group.

Majorities of Americans say the federal government does not provide enough help for older people (65%), poor people (62%) and the middle class (61%). By contrast, nearly two-thirds (64%) say the government provides too much help for wealthy people.

In the U.S., the racial and ethnic wealth gap has evolved differently for families at different income levels since the Great Recession.

Taxpayers with incomes of $200,000 or more paid well over half (58.8%) of federal income taxes, though they accounted for only 4.5% of all returns filed (6.8% of all taxable returns). By contrast, taxpayers with incomes below $30,000 filed nearly 44% of all returns but paid just 1.4% of all federal income tax.

The official poverty rate last year was close to its pre-Great Recession level, but the share of the U.S. poor in severe poverty increased.

As the congressional debate over Trump's tax overhaul begins, more Americans say tax rates on corporations and higher-income households should be raised rather than lowered.

Women's contributions to U.S. household incomes have grown. Yet, men contribute more of the income in most couples, and this reality aligns with public sentiments.

Millennials trail Baby Boomers and Generation Xers in the number of households they head. But Millennial-run households represent the largest group in some key categories, such as the number in poverty or the number headed by a single mother.

The American middle class is smaller than middle classes across Western Europe, but its income is higher.