How Much Does the Federal Government Spend to Promote Economic Mobility and for Whom?

QUICK SUMMARY

In an economically mobile market economy, individuals and families are able to raise their private incomes, wealth and ability (sometimes referred to as human capital) over time and across generations. In the United States, many associate economic mobility with the pursuit of the American Dream. Education, work experience and saving enhance the opportunity for upward economic mobility. To this end, many federal spending and tax expenditure or tax subsidy programs aim to enhance economic mobility. But exactly how much does the federal government invest in the American Dream and encourage economic mobility? What form does this encouragement take? And who benefits from these efforts?