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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (687712)12/10/2012 5:41:16 PM
From: i-node1 Recommendation  Read Replies (1) | Respond to of 1579121
 
From your link:

An absolute majority of the people who were in the bottom 20 percent [of income] in 1975 have also been in the top 20 percent at some time since then. Most Americans don't stay put in any income bracket. At different times, they are both "rich" and "poor" -- as these terms are recklessly thrown around in the media. [...] There are of course some people who remain permanently in the bottom 20 percent. But such people constitute less than one percent of the American population, according to data published by the Federal Reserve Bank of Dallas in its 1995 annual report. Perhaps the intelligentsia and the politicians have been too busy waxing indignant to be bothered by anything so mundane as facts. [24]



To: combjelly who wrote (687712)12/10/2012 6:29:33 PM
From: Tenchusatsu  Respond to of 1579121
 
CJ,
But the single biggest factor is one you didn't mention, picking the right parents.
The right parents usually teach their kids how to work hard, study hard, and achieve the American dream.

The ones that depend on the Nanny State more often than not turn out to be the wrong parents.
There is a direct correlation between income inequality and social rigidity.
The studies that measure movement among quintiles are easily debunked by the fact that more rich and upper-middle-class people live in America than in any other industrialized nations. That skews the quintile boundaries.

Tenchusatsu



To: combjelly who wrote (687712)12/10/2012 6:55:01 PM
From: tejek  Read Replies (1) | Respond to of 1579121
 
* And Joe Strupp has an interesting report on what happened to the San Diego Union-Tribune, a once-respected daily, after it was bought a year ago by far-right financier Douglas Manchester. "People are so embarrassed by the [newspaper] that they are dropping their subscriptions," said Don Bauder, who spent 30 years at the paper from 1973 to 2003, which included stints as financial editor and columnist. "Around town it is an embarrassment."


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