Alter.net has an article basically saying the American Dream these days is a complete myth to the majority of people living in the United States and especially to those born in poverty.
As a whole the US residents are doing better, but the accumulation of wealth is concentrating more and more to the few that are already wealthy, so the stats are getting skewed by the well-to-dos doing even better while the average Joe is doing worse.
Upward mobility (moving up in the socio-economic ladder) is just as likely as downward mobility (getting poorer), and the number of people who are earning more than their parents but still moving down is increasing. I don’t know about you, but that doesn’t look ok to me.
Living costs (education, healthcare, housing) are skyrocketing while earnings are staying flat or declining depending on how you factor in things like inflation. Things are not looking good for the middle class in America, and it’s downright scary for poor people.
Meanwhile European countries, especially in Scandinavia are doing extremely well. The mobility (one’s ability to climb up on the socio-economic ladder) is up to three times as likely in countries like Denmark and Finland than in the United States. Scandinavian countries are high tax, free education/healthcare type of countries, pretty much complete opposites of the United States.
While it’s easy to dismiss the article by merely claiming it’s done by those liberal rabblerousers, you can’t argue with the facts. The research is solid and it’s showing undeniably that the “trickle-down” economy bullshit is bad for America. It’s making rich people even richer, and poor people even poorer. That’s why I personally call it the trickle-up economy.
The data is showing the Big Government approach is actually better for your citizens than the Small Government approach. Imagine that. Let’s see if they learn that in the US before it’s too late. I’m not too optimistic myself.