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An obvious point is missed here
by MisterPerson
-1 Reply

This "class warfare" stuff is just tired long-discredited Marxist rhetoric, but stubbornly persists in Democratic party rhetoric, due to most people's economic ignorance.

In fact, the majority of people in the top quintile were at some point in their lives in the lower quintile.

People in the top quintile are typically in their peak earning phase, which is temporary in life's big picture.

Individuals and families in America undergo all kinds of economic mobility in both directions.

See economist Thomas Sowell's "Basic Economics" for more details.

Re: An obvious point is missed here
by cmolt

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"American children are more likely than other children to end up in the same place on the income distribution as their parents. Moreover, there is emerging evidence that mobility is particularly low for Americans born into families at the bottom of the earnings or income distribution."

Just because Ayn Rand discredits something doesn't mean that she's proven it false.

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