Publications by authors named "Maximilian Hell"
Millions of eligible families did not claim their 2021 expanded child tax credit (CTC), collectively forgoing billions of dollars. To address this problem, many policymakers focused on increasing awareness of the CTC by highlighting that families could receive up to $3,600 a year per child. However, people rarely budget on a yearly basis.
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- - The study analyzed "absolute income mobility," which measures the percentage of children earning more than their parents, using various U.S. economic data sources.
- - Findings showed a significant decline in mobility rates, dropping from around 90% for those born in 1940 to about 50% for those born in the 1980s.
- - To improve these mobility rates, simply increasing GDP growth isn't enough; a more equitable distribution of that growth, similar to the 1940 cohort, could reverse over 70% of the decline in mobility rates.