The U.S. Treasury Dept. has released a study on the income mobility of U.S. taxpayers between 1996 and 2005, and found evidence of upward mobility even as the gap between incomes at the upper and lower ends of the scale has grown.
Nearly 58 percent of households in the lowest income quintile in 1996 had moved to a higher quintile by 2005. While 29 percent moved up to the second quintile, the same percentage moved up at least two quintiles, and about 5 percent moved all the way to the top quintile. The study also found that about 55 percent of taxpayers moved to a different income quintile between 1996 and 2005.
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