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The total dependency ratio is the total numbers of the children (ages 0–14) and elderly (ages 65+) populations per 100 people of adults (ages 15–64). A high total dependency ratio indicates that the adult population and the overall economy face a greater burden to support and provide social services for youth and elderly persons, who are often economically dependent.
Poverty threshold. Graph of global population living on under 1, 1.25 and 2 equivalent of 2005 US dollars daily (red) and as a proportion of world population (blue) based on 1981–2008 World Bank data [needs update] Poverty thresholds for 2013. The poverty threshold, poverty limit, poverty line, or breadline[ 1] is the minimum level of income ...
Real GDP per household has typically increased since the year 2000, while real median income per household was below 1999 levels until 2016, indicating a trend of greater income inequality (i.e., the average is more influenced by high income outliers than the median). The income considered in the two lines is different as well; the GDP figure ...
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
The United States federal government and most state governments impose an income tax. They are determined by applying a tax rate, which may increase as income increases, to taxable income, which is the total income less allowable deductions. Income is broadly defined. Individuals and corporations are directly taxable, and estates and trusts may ...
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For single filers, the standard deduction will increase from $6,350 to $12,000. About 70% of families choose the standard deduction rather than itemized deductions; this could rise to over 84% if doubled. The personal exemption is eliminated—this was a deduction of $4,050 per taxpayer and dependent, unless it is in an estate or trust. [30 ...
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