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View Diary: This week in the War on Workers: If you're not born rich, how do you rise? (58 comments)

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  •  Top Quintile Not the Rich (0+ / 0-)

    Your analysis is skewed by viewing the top 20% as the rich when if fact it represents people making income of 100k and up. In fact only the top 2.5% make more then 250k. In other words there is relatively little income difference between most of the people in the top quintile and those in the middle (at roughly 55k income) of the distribution - perhaps 50k a year. And while that amount of money can buy a very different standard of living it is not the difference between being one step away from the street (when all of that money comes from a paycheck) and economic security.

    I would suggest that the 10% of people born into the top quintile who stayed there despite not pursuing a college degree are made up of mostly people who succeed at occupations that don't require a degree such as sales or owning a business and the rest were at the very top and inherited money from their very wealthy parents. In other words, I think that there is even less income mobility than this fairly broad categories suggest. For the truly wealthy - the top 1% - they are guaranteed wealth no matter what they do.

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