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To expand upon this statement, social mobility has been on the decline[1] at a time when income inequality in the US is reaching unparalleled levels[2]. Childho
by TheAdamAndChe 9y ago
To expand upon this statement, social mobility has been on the decline[1] at a time when income inequality in the US is reaching unparalleled levels[2]. Childhood poverty is on the rise[3], and regional inequality is incredible[4]. All this is occurring at a time when the best and brightest young people are ending up with tens of thousands of dollars of debt just to be able to enter the workforce.
All this is why small business creation is on the decline here.[5] It takes money to make money, and the lower and middle classes just don't have money to spare.
edit: To those downvoting me, can you please explain? I don't understand the flaw(s) in my statement.
[1] https://en.wikipedia.org/wiki/Socioeconomic_mobility_in_the_United_States https://en.wikipedia.org/wiki/Socioeconomic_mobility_in_the_...
[2] https://en.wikipedia.org/wiki/Income_inequality_in_the_United_States https://en.wikipedia.org/wiki/Income_inequality_in_the_Unite...
[3] https://en.wikipedia.org/wiki/Poverty_in_the_United_States#Child_poverty https://en.wikipedia.org/wiki/Poverty_in_the_United_States#C...
[4] https://www.brookings.edu/blog/the-avenue/2012/08/07/regional-inequality-and-the-new-geography-of-jobs/ https://www.brookings.edu/blog/the-avenue/2012/08/07/regiona...
[5] http://money.cnn.com/2016/09/08/news/economy/us-startups-near-40-year-low/index.html http://money.cnn.com/2016/09/08/news/economy/us-startups-nea...