Second fifth Richest fifth of population Third fifth Fourth fifth Poorest fifth The U.S. Distribution of Income Share of Income Average Total Quintile 2015 Income Income Income Highest fifth Above $117,000 $202,000 52% Second fifth $72,000- $117,000 $92,000 23% Third fifth $44,000- $72,000 $57,000 14% Fourth fifth $23,000- $44,000 $33,000 8% Lowest fifth $0-$23,000 $12,500 3%b. If all incomes were equalized by government taxes and transfer payments, how much would the average household in each income quintile gain (via transfers) or lose (via taxes)? i. Highest $ fifth: ii. Second fifth: Third iii. fifth: Fourth iv.. fifth: Lowest V. fifth: c. What is the implied tax (i.e., tax : average income) on the highest quintile