This gain closed the 1989 gap between the bottom 20% and the next income group by 47%.The gap closures between the other groups varied as follows: Perhaps as revealing as the shift in consumer expenditure shares over the past 100 years is the wide variety of consumer items that had not been invented during the early decades of the 20th century but are commonplace today.
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Purchasing power parities allow for accurate measures of economic data across countries, because they relate the prices of the same goods and services in different nations.  * In keeping with Just Facts’ Standards of Credibility, all graphs in this research show the full range of available data, and all facts are cited based upon availability and relevance, not to slant results by singling out specific years that are different from others. Capital and business income provided 28%, and employer-paid benefits made up the remaining 11%.
* In 2013, cash wages and salaries accounted for 61% of market income for U. This varied by income group on average as follows: * Gross domestic product (GDP) measures national economic output, or the value of all goods and services that a country produces in a year.
Using 2,000 data points on national debt and economic growth in 20 advanced economies (such as the United States, France, and Japan) from 1800–2009, the authors found that countries with national debts above 90% of GDP averaged 34% less real annual economic growth than when their debts were below 90% of GDP. * In 2013, the Political Economy Research Institute at the University of Massachusetts, Amherst, published a working paper about the economic consequences of government debt.
Using data on national debt and economic growth in 20 advanced economies from 1946–2009, the authors found that countries with national debts over 90% of GDP averaged: * The authors of the above-cited papers have engaged in a heated dispute about the results of their respective papers and the effects of government debt on economic growth.
The advantage of using this measure is that: The most important factor determining living standards is productivity growth, defined as increases in how much can be produced in an hour of work. This is because it excludes sectors that are volatile or don’t produce concretely measurable output.   * If the labor productivity slowdown that took place from 2005–2015 had not occurred, the U. economy in 2015 would have been about $3 trillion larger. population increased 145%. During this same period, the portion of unmarried or non-family households rose from 24% to 52%: * The Gini index based on Census Bureau cash household income does not capture all income and taxes. From 1979 to 2003, the Census Bureau published Gini data based on more comprehensive measures of household income. Comprehensive income data from the Congressional Budget Office show that the income share of the top 10% after federal taxes grew by 7 percentage points during this period: * In 2006, Piketty and Saez claimed that when comparing federal taxes and government benefits from 1980 to 2004, the “decrease in taxes at the top [1%] outweighs the increase in benefits at the bottom.” NOTE: When interpreting the facts in this section, it is important to realize that correlation does not prove causation.