Affluence is Rising

My links were not 9 years old either, but I suggest you are reading the study incorrectly: if the Capitalist system was so bad and was making the poor poorer, and the rich richer, then how do you explain that even in America, nearly 8% of those born poor end up rich?

67% of Americans born into the lower quintile (bottom 20%) earnings level rose to higher quintiles: it doesn’t give the percentages who moved from the bottom to the 2nd, 3rd and 4th quintile, only the 7.8% who made it to the top. In spite of your pessimistic view, this is actually a far better result than you give it credit for: nearly 60% of the poor move to the three middle-class quintiles, and nearly 8% go from the bottom to the top. That sounds like the exact opposite of “rising inequality” to me. Inequality is still a problem for those at the bottom, but discussion of how best to help those people is not improved by framing the discussion in unfounded socialist slogans such as “Inequality is still rising.”

Fake news and absolutist slagans are rising. The worst thing anyone could do to help the poor is to embrace Socialism.

I work in IT, Community volunteer interested in Politics, support Capitalism as the best economic system for lifting people out of poverty, Skeptical scientist.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store