Lifetime Non-Asset Income Profits
At any given moment, those who work and earn income do not necessarily have all of it available for their use. A part of current labor earnings is diverted as contributions to private pension plans and social insurance programs like Social Security and Medicare. Another part is paid as taxes to finance government purchases and welfare payments.
Suggested citation: “Lifetime Non-Asset Income Profits,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-10, pp. 15, 10.01.1996.