Quote:
Originally Posted by donb9006
Think about it...how much easier is it to lets say...double your income when you're making $10,000 (the bottom 20%) as opposed to when you make $5,000,000? It's much easier to statistically significantly increase your income when it's a very low number.
Be careful of "studies", they're good ways to spread misinformation. A person previously making $10,000 suddenly makes $15,000, a 50% increase in income! It sounds wonderful! The only problem is...they're still poor and still need assistance. Whereas someone making $100,000 gets a $5000 increase...it's only 1/2 of a percent.
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And perhaps we should be aware of people skewing the original study information to fit their own scenario. This is the statement, Don:
"Most working Americans who were initially in the bottom 20 percent of income-earners, rise out of that bottom 20 percent. More of them end up in the top 20 percent than remain in the bottom 20 percent.
People who were initially in the bottom 20 percent in income have had the highest rate of increase in their incomes, while those who were initially in the top 20 percent have had the lowest. This is the direct opposite of the pattern found when following income brackets over time, rather than following individual people".
It didn't state that the people studied ended up with an additional $10,000. income. It did state that more of the people studied ended up in the TOP 20 percent than remained in the bottom 20 percent.