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> People that are born rich and wealthy in the US generally do not fall to a lower socioeconomic class This is inaccurate. Only 40% of people in the top quint
by smallgovt 8y ago
> People that are born rich and wealthy in the US generally do not fall to a lower socioeconomic class
This is inaccurate. Only 40% of people in the top quintile of wealth stay there as adults; 60% fall into a lower bracket.
> People in the lower classes tend to not rise
This is also inaccurate. 57% of people born into the bottom quintile escape this quintile as adults.
The reality of the situation in the US is that from an absolute mobility standpoint, it's easier for the poorest quintile of americans to escape their economic class, but the income disparity between classes continues to grow so quickly that relative mobility is severely lower for the poor.
For more info, see: https://www.pewtrusts.org/~/media/legacy/uploadedfiles/wwwpewtrustsorg/reports/economic_mobility/pursuingamericandreampdf.pdf https://www.pewtrusts.org/~/media/legacy/uploadedfiles/wwwpe...