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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 24 January 2014 [View all]xchrom
(108,903 posts)9. STUDY: CLIMBING INCOME LADDER HASN'T GROWN HARDER
http://hosted.ap.org/dynamic/stories/U/US_ECONOMIC_MOBILITY_STUDY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-01-23-13-34-06
WASHINGTON (AP) -- Young Americans from low-income families are as likely to move into the ranks of the affluent today as those born in the 1970s, according to a report by several top academic experts on inequality.
The study, published this week by the National Bureau of Economic Research, runs counter to the widespread belief that a widening gap between rich and poor has made it harder to climb the economic ladder.
Democratic and Republican lawmakers alike have expressed alarm over what had been seen as diminishing opportunities for economic advancement through hard work and ingenuity.
Instead, the study found that 9 percent of children born in 1986 to the poorest 20 percent of households were likely to climb into the top 20 percent - little-changed from 8.4 percent for such children born in 1971.
WASHINGTON (AP) -- Young Americans from low-income families are as likely to move into the ranks of the affluent today as those born in the 1970s, according to a report by several top academic experts on inequality.
The study, published this week by the National Bureau of Economic Research, runs counter to the widespread belief that a widening gap between rich and poor has made it harder to climb the economic ladder.
Democratic and Republican lawmakers alike have expressed alarm over what had been seen as diminishing opportunities for economic advancement through hard work and ingenuity.
Instead, the study found that 9 percent of children born in 1986 to the poorest 20 percent of households were likely to climb into the top 20 percent - little-changed from 8.4 percent for such children born in 1971.
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Surveillance and Scandal Time-Tested Weapons for U.S. Global Power By Alfred McCoy
Demeter
Jan 2014
#6
It hasn't gottten any easier, either. And DEFINITELY not any fairer or equitable.
Demeter
Jan 2014
#22