Economic Mobility Facts
Economic Mobility Facts Share Trending Few people realize just how much movement from one income bracket to another actually happens annually for many Americans. “There was considerable income mobility of individuals in the U.S. economy during the 1996 through 2005 period as over half of the taxpayers moved to a different income quintile over this period.”[1] The Department of Treasury report continues summarizing key points: Roughly half of taxpayers who began in the bottom income quintile in 1996 moved up to a higher income group by 2005.[2] The real incomes of two-thirds of all tax...
Source: townhall.com