The American Dream Is Dead

The New York Times is finally catching on to the fact that the American Dream is dead. An article running in the paper today points out the disturbing fact that the United States is one of the least socially mobile nations in the developed world. As in – it’s harder for someone born poor to become rich – or even just join the middle class throughout their life. Only 8% of Americans born in the poorest fifth of the population – ever make it to the top fifth, which is an income a bit over $100,000. The Times goes on to cite persistently high poverty rates, which “leave poor children starting especially far behind” as one of the reason for low social mobility. So much for the idea that America is a class-less society. Every day, millions of Americans are living a real life version of The Christmas Story – complete with corporate Scrooges and fully a quarter of American children living in poverty like Tiny Tim.

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