May 1, 2006 – A report from the Center for American Progress shows that children from low and middle-income families have little economic mobility in the United States. Key findings in the report include:
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Children from low-income families have a 1 percent chance of reaching the top 5 percent of the income distribution, versus children of the rich who have about a 22 percent chance.
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Children born to middle income families had about the same chance of ending up in a lower quintile than their parents (39.5 percent) as they did of moving to a higher quintile (36.5 percent). Their chances of attaining the top five percentiles of the income distribution were just 1.8 percent.
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Education, race, health and state of residence are four key channels by which economic status is transmitted from parent to child.
Read the entire report.
