Episode 300: Economic Inequality in America
Words & Numbers
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Is America Promised Income Equality?
People want to talk about income inequality as a measure of America's fairness. But people that are none of those things succeed in America every day. 93% of children that grew up in the bottom quintile of income owners ended up living as adults and households that had more income than their parents, 93%. That's of course adjusted for inflation and household size and all of that. To not fall if you're in one of the other quintiles, you've got to have your income rise by some amount or else you fall into a more quintile. If we compared mobility to the definition of the quintiles for the parents instead of the children, income mobility would be astronomical.
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