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Did you look at the graph that article linked? Do you think that moving from the first income quintile into the second one is genuine class mobility? People in
by sudosteph 8y ago
Did you look at the graph that article linked? Do you think that moving from the first income quintile into the second one is genuine class mobility? People in the second quintile income range may not be relying on food stamps, but for most of America that's still a less than a comfortable situation, one that's still in the territory of living nearly paycheck-to-paycheck (23% of americans have no savings, and another 22% have less than 3 months worth), and it's not going to buy you many advantages in living situations or education opportunity for kids either. Of the ones without college degrees, 26% of that 53% you're calling out still ended up in that bracket.
So again, without a college degree, there's a 73% of people born poor, will remain lower or low-middle class. Only 3% will make it into the top quintile (vs 9% with degrees) and 8% into the 4th (vs 17% with degrees). So if we define only as 3rd quintile up as middle and up (which is questionable in itself given the shrinking middle class) a degree lands a lower-class person 52% chance of genuine upwards mobility, compared to 27% without. And it nearly guarantees that they at least won't remain in the very worst stratum of poverty. 52% for real mobility may not be great odds, but neither is 27% and if it was my future on the line, I definitely would not want to be staking it on 27%.