“The American Dream”

New Statistics On Economic Mobility And Income Distribution In America Shows “The American Dream” Is A Myth! :(

New statistics demonstrate that the concept of “The American Dream”, that anyone can come from poverty to wealth is a myth, now more than ever!

According to the Organization For Economic Cooperation And Development, the average earnings for the top ten percent of Americans are 16 times that of the lowest ten percent of Americans. In Great Britain, the multiple is 8, and in Sweden it is 5.

42 percent of those in the bottom twenty percent of the economic system will never escape it, while in Great Britain, the percentage is 30, and in Sweden it is 25.

Finally, the top one percent of the population, according to this study, has 36 percent of the income, up from 22 percent in 1980. Meanwhile, the average worker has seen income only go up three percent after inflation after these thirty years!

So the idea that somehow the average American can become rich is not facing reality, particularly with the long lasting effects of the Great Recession, which is supposedly over, but is really NOT over by any means! 🙁