In 2011, the Top 20% of US Families Had More

question 40

Short Answer

In 2011, the top 20% of US families had more than times as much income as the bottom 20%.

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Definitions:

Excess Burden

The cost to society created by market inefficiency, typically due to taxes or government policies that distort resource allocation.

Progressive

Relating to progressive policies or movements that advocate for change, reform, and innovation, often in the social, political, or economic sphere.

Elastic Demand

refers to a situation where the quantity demanded of a good or service is highly responsive to changes in its price.

Excess Burden

The economic loss to society due to market inefficiencies, often associated with taxes or other government policies that distort market behavior beyond the revenue raised or spending undertaken.