Uh oh, this could be a problem for conservatives who depend on an overly optimistic American populace in order to push through tax cuts for the rich. If people assume they could one day be rich, they’re more likely to find tax cuts for the richest Americans acceptible, right? But when if they don’t identify with the vision of America as the land of opportunity for all?
America’s rags-to-riches dream an illusion: study – Yahoo! News
America may still think of itself as the land of opportunity, but the chances of living a rags-to-riches life are a lot lower than elsewhere in the world, according to a new study published on Wednesday.
The likelihood that a child born into a poor family will make it into the top five percent is just one percent, according to “Understanding Mobility in America,” a study by economist Tom Hertz from American University.