July 15, 2021, 5:00 a.m.
Summary and analysis of the distribution of tax burdens, the tax analysis agency reported on July 15th. The distribution analyzes show how federal taxes and proposed tax law changes affect the distribution of after-tax income among families. The Treasury Department uses a cash income measure – a pre-tax and post-transfer income measure. The components of cash income are divided into labor, capital and transfer income. For 2022 income levels, cash income is $ 18.5 trillion, of which $ 13.3 trillion (72 percent) is labor income, $ 3.3 trillion (18 percent) of capital returns, and 1.9 trillion US dollars (11 percent) are transfer payments, the Treasury found. …
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