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It's hard to compare, you have perfect mobility when everyone is dirt poor. In the USA it's possible for people to get really rich, so measuring how many from
by dantheman 7y ago
It's hard to compare, you have perfect mobility when everyone is dirt poor. In the USA it's possible for people to get really rich, so measuring how many from the very bottom make it to the very top is not a good metric; especially when composing to other countries whose top is in the middle. So if you compare mobility between income ranges you will find the US to be more mobile.
- jonathankoren 7y agoNot only is this shifting the goal posts, it’s also whataboutism. This is a distraction from the problem of wealth concentration and lack of mobility in the United States by saying: Yeah, well, you’re richer than the Haitians, so quit whining. Being part of the largest economy in the world, I would certainly hope the poorest in my country, would be better off than the those in the least developed country in the Western Hemisphere.
- monocasa 7y agoEvery country has a rich upper class.
- dantheman 7y agoYou need 10 million to be in the top 1% in the US and 700k to be in the top 1% in the UK. There's a big difference between going from 0 net worth to 700k than to 10 million.