3 ms·
>fewer than 10 percent of people in the bottom fifth of the wealth distribution will make it into the top fifth. Things weren't much better for the middle class
by rileymat2 10y ago
>fewer than 10 percent of people in the bottom fifth of the wealth distribution will make it into the top fifth. Things weren't much better for the middle class: Only about 20 percent of people in the middle fifth would rise into the top fifth over the course of their lives.
Maybe I am a bit confused,
but isn't 20% the exact right amount to move into the top fifth?
- rileymat2 10y agoMaybe this is not the right amount due to the effect age has on wealth accumulation
- refurb 10y agoThis also seems a little biased. Sure only 20% might make it from the bottom to the top, but what about the other 80%? Do they just stay there or move up? That would be important to know.
- vacri 10y agoThis is the problem with using a relative measure rather than an absolute. There can only ever be 20% of people in each relative quintile, but the percentage of the population above and below a given wealth line can change dramatically. If through some social magic, everyone was elevated above the poverty line, you'd still have a lowest quintile.
- deleted 10y ago[deleted]