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  1. #1
    deplorable basketcase Tellenbach's Avatar
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    Default From Rags to Riches to Rags

    From Rags to Riches to Rags

    How upwardly mobile are Americans? Let's look at the data:

    It turns out that 12 percent of the population will find themselves in the top 1 percent of the income distribution for at least one year. What’s more, 39 percent of Americans will spend a year in the top 5 percent of the income distribution, 56 percent will find themselves in the top 10 percent, and a whopping 73 percent will spend a year in the top 20 percent of the income distribution.


    Graph is from the American Enterprise Institute

    The data shows significant upward and downward mobility in the US. People make fortunes and then lose them. Furthermore, this data shatters the myth that the rich stay rich and the poor stay poor. The top 1% and the bottom 20% are the same people, just at different stages of life. You could be a waiter and be in the bottom quintile of income when you're 22, but be a doctor and in a top quintile of income when you're 42.
    Senator Rand Paul is alive because of modern medicine and because his attacker punches like a girl.

  2. #2
    Senior Member statuesquechica's Avatar
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    ^Your source, American Enterprise Institute, sucks, therefore I would take this data with a huge grain of salt. AEI is a neoconservative think tank in D.C. that has some very questionable donations (Tiawanese government amongst others))and promotes military invasion and the myths of the free market. It also had strong connections to Project for the New American Century(PNAC) which is now defunct and makes it repugnant in my eyes.

    Other studies have indicated the exact opposite in regard to upward mobility in the U.S. The American dream of "making it" is on life support...not to be too negative, but that is my opinion and I'm sticking to it.

    Talk amongst yourselves!!
    I've looked at life from both sides now
    From up and down and still somehow
    It's life's illusions I recall
    I really don't know life at all

    Joni Mitchell

  3. #3
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    Quote Originally Posted by statuesquechica View Post
    ^Your source, American Enterprise Institute, sucks, therefore I would take this data with a huge grain of salt. AEI is a neoconservative think tank in D.C. that has some very questionable donations (Tiawanese government amongst others))and promotes military invasion and the myths of the free market. It also had strong connections to Project for the New American Century(PNAC) which is now defunct and makes it repugnant in my eyes.

    Other studies have indicated the exact opposite in regard to upward mobility in the U.S. The American dream of "making it" is on life support...not to be too negative, but that is my opinion and I'm sticking to it.

    Talk amongst yourselves!!
    AEI is the best think tank going.

    James Pethokoukis and the crew up there doing policy research are offering some of the most provocative policy proposals on the market today.

    You have absolutely no idea what you are talking about. Especially considering the amount of Talking Points Memo and sources of that ilk that you use.

    Your posts are like nails on a chalk board. Most others just don't know enough to call you on your garbage.

  4. #4
    Senior Member statuesquechica's Avatar
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    Quote Originally Posted by DiscoBiscuit View Post
    AEI is the best think tank going.

    James Pethokoukis and the crew up there doing policy research are offering some of the most provocative policy proposals on the market today.

    You have absolutely no idea what you are talking about. Especially considering the amount of Talking Points Memo and sources of that ilk that you use.

    Your posts are like nails on a chalk board. Most others just don't know enough to call you on your garbage.
    "Provocative" is one way to put it...

    Clearly, we well never agree but at least I don't call your garbage what it really is...a difference of opinion and values.

    Have a nice day!
    I've looked at life from both sides now
    From up and down and still somehow
    It's life's illusions I recall
    I really don't know life at all

    Joni Mitchell

  5. #5
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    Quote Originally Posted by statuesquechica View Post
    "Provocative" is one way to put it...

    Clearly, we well never agree but at least I don't call your garbage what it really is...a difference of opinion and values.

    Have a nice day!
    Slow down there sparky. You didn't address the substance of the OP at all.

    It was just a matter of, this policy center offers points of view that I don't share, so I will automatically assume all data and conclusions coming therefrom to be bunk.

    Not quite the rigorous analysis one hope to see.

  6. #6
    deplorable basketcase Tellenbach's Avatar
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    Quote Originally Posted by statuesquechica
    ^Your source, American Enterprise Institute, sucks, therefore I would take this data with a huge grain of salt.
    The graph itself came from the AEI, but the data comes from the Mark Rank and Thomas Hirschl article in the New York Times. They followed a group of people around for 44 years and looked at changes in income over that time frame.
    Senator Rand Paul is alive because of modern medicine and because his attacker punches like a girl.

  7. #7
    Senior Member statuesquechica's Avatar
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    Quote Originally Posted by Tellenbach View Post
    The graph itself came from the AEI, but the data comes from the Mark Rank and Thomas Hirschl article in the New York Times. They followed a group of people around for 44 years and looked at changes in income over that time frame.
    yes, I did read your link...I have seen other studies that came to different conclusions so I am just drawing my own conclusion after considering these other studies and the data in this study. Thanks for sharing.
    I've looked at life from both sides now
    From up and down and still somehow
    It's life's illusions I recall
    I really don't know life at all

    Joni Mitchell

  8. #8
    reborn PeaceBaby's Avatar
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    What is the dollar amount threshold assigned to the top 1%?
    "Remember always that you not only have the right to be an individual, you have an obligation to be one."
    Eleanor Roosevelt


    "When people see some things as beautiful,
    other things become ugly.
    When people see some things as good,
    other things become bad."
    Lao Tzu, Tao Te Ching

  9. #9
    deplorable basketcase Tellenbach's Avatar
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    Quote Originally Posted by PeaceBaby
    What is the dollar amount threshold assigned to the top 1%?
    "An entry ticket to the 1% starts with an annual income of about $394,000 (says Berkeley’s Emmanuel Saez) or about $1.5 million in liquid assets (my zestimate). Post-tax and retirement savings, that’s about $220,000 a year while they are working. These are national norms. If they happen to live on the coasts or near a major urban center, as is more than likely, they might need twice as much money to crash into the 1% by local standards."

    Are You Rich Enough? The Terrible Tragedy Of Income Inequality Among The 1%
    Senator Rand Paul is alive because of modern medicine and because his attacker punches like a girl.

  10. #10
    Senior Member statuesquechica's Avatar
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    ^LOL! I had to laugh at the tongue-in-cheek tone of the link you posted.

    edit: DiscoBiscuit: you are kind of a condescending douche bag at this point in this thread ...so please take
    and fully read my posts before attacking me.

    Last edited by statuesquechica; 04-28-2014 at 01:31 AM.
    I've looked at life from both sides now
    From up and down and still somehow
    It's life's illusions I recall
    I really don't know life at all

    Joni Mitchell

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