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> Sure, but if people were moving up on aggregate, we would see the middle class growing as children of the poor made their way up. Eh, what you really want to
by fennecfoxen 11y ago
> Sure, but if people were moving up on aggregate, we would see the middle class growing as children of the poor made their way up.
Eh, what you really want to look at is a series of cohorts moving on up as people grow older: a lot of US population growth is from immigration (legal and otherwise) who tend to have less income (which is why they immigrate), and from children born to recent immigrants (who have substantially more children than rich people in this country).
- roymurdock 11y agoOk, do you have the statistics at hand? What do they tell us?
- toomuchtodo 11y agoLook at employment figures by age group and labor participation rate. You'll find that older people are working longer because they can't afford to retire. Also, Google "calculated risk blog" and read the last 2 months or so of posts. Pay careful attention to the posts about reduced GDP due to demographics, as well as new household formations lagging due to structural economic issues. TLDR Ain't nobody moving up in any cohorts. 70% of people make less than they did 12 years ago.