07/10/2012 - Most Americans make more than their parents did, but that doesn't mean they're all moving up the economic ladder.
Some 84% of Americans have higher family incomes than their parents had at the same age, according to a new report from the Pew Economic Mobility Project. And 93% of those who grew up in the poorest fifth of the income ladder exceed their parents' family income as adults.
But out-earning their parents hasn't helped many of them climb out of poverty, as many poor American families remain stuck at the bottom of the income barrel. Some 43% remain in the lowest quintile.
"It calls into question the quality of the opportunity Americans believe exists in the United States," said Erin Currier, project manager of the Pew Economic Mobility Project.
Read the full article, Economic Mobility: Who Gets Left Behind, on CNN Money's website.