Home

Income

Academic

According to Ian Townsend ("Income, Wealth & Inequality": Research Paper, 2004), for example:

"‘Income’ represents a flow of resources over a period, received either in cash or in kind.

Earnings account for the majority of most people’s income, with 93% of the total income received by those paying income tax being earned income...There are also many ways of defining ‘income’: it can be gross or net, that is after taxes and benefits/credits have been taken into account".

Townsend also notes "...incomes data can be represented at "five different stages of redistribution" and that some definitions "...also allow both income measures before and after housing costs have been deducted".