Movin' On Up

...nearly 58% of filers who were in the poorest income group in 1996 had moved into a higher income category by 2005. Nearly 25% jumped into the middle or upper-middle income groups, and 5.3% made it all the way to the highest quintile.

Well, that seems rather strange for a "stagnant economy" now, doesn't it? More than half of those that filed tax returns that were in the lowest income bracket, were in a higher income bracket within 10 years and this has been steady for the last few decades. Most of those that enter the lowest economic level don't stay there. They work they way up and out. Also, it appears that there is fairly constant churn on the high end as well.

You know how it goes though, we can't let a simple thing like facts get in the way of a perfectly good campaign speech now, can we?