U.S. Defense Spending Relative to the G7
The U.S. has historically devoted a larger share of its economy to defense than other members of the G-7.
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The U.S. has historically devoted a larger share of its economy to defense than other members of the G-7.
Prior to 2020, the median real income for families in the United States had been increasing for 5 consecutive years.
https://www.pgpf.org/chart-archive/0213_stagnant_median_income
Over 11 percent of the population lives in poverty, and nearly half of those in poverty live in deep poverty.
Poverty levels among children remain much higher than poverty levels for those 65 and older.
Corporate tax revenues are substantially lower than they were before the tax rate was reduced by the TCJA.
https://www.pgpf.org/chart-archive/0304_corporate_tax_reduced_tcja
Income growth since 1979 is larger for high-income earners, even when including transfers and taxes.
https://www.pgpf.org/chart-archive/0059_income-growth-disparity
Between 1979 and 2016, income increased more quickly for high-income earners.
https://www.pgpf.org/chart-archive/0060_income-disparity-before-transfers-taxes
The population of the United States is aging rapidly. Soon we will be a nation of Floridas.
PGPF President & CEO Michael Peterson on the importance of the long-term national debt and fiscal issues in the 2016 elections.