Posted by strikeout26 on 3/3/2019 5:34:00 PM (view original):
Tang, I get the feeling that you think being prosperous is a club that is not open to new members.
Did know that 70% of the people in our country will spend time in the top 20% of earners before the age of 60?
Did you know that if you are in the bottom 20% of wage earners now, that there is an 88% chance that you will not be in the bottom 20% within 10 years?
Did you know that wealth is fluid and dynamic?
Did you know that Ford paid there employees more per hour prior to the minimum wage than they do today?
I'm going to guess that you didn't know any of these things because you have been fed a bunch of lies.
This is why I advocate for capitalism. B_L calls it extreme. I'm guessing he hasn't seen what the democrats are campaigning on. They want less capitalism and more socialism.
Did know that 70% of the people in our country will spend time in the top 20% of earners before the age of 60?
That makes sense considering the poverty rate is 12%. The top 20% make ~ 100k, not bad. The study that you cited, at least from the 2 min skim that I looked at, doesn't really talk about being in poverty to being out of poverty. It's way easier to go from well off to really well off than it is to go from not well off to well off.
If you are talking about the studies that say that you can go in and out of poverty, that makes sense. It still proves my point that it is hard to permanently break out of poverty.
Here's some info that you may or may not know.
- Adult achievement is related to childhood poverty and the length of time they live in poverty. Children who
are poor are less likely to achieve important adult milestones, such as graduating from high school and
enrolling in and completing college, than children who are never poor. For example, although more than
9 in 10 never-poor children (92.7 percent) complete high school, only 3 in 4 ever-poor children (77.9
percent) do so (table 1).
- Persistently poor children are also less likely (by 37 percent) to be consistently employed as young
adults than their ever-poor, nonpersistently poor counterparts. This finding is consistent with the lower
educational achievement of the persistently poor and the fact that unemployment rates have
historically been higher among lower-educated groups (Federal Reserve Bank of St. Louis 2014)
https://www.urban.org/sites/default/files/publication/65766/2000369-Child-Poverty-and-Adult-Success.pdf