The American Dream

[xoxoxoBruce]

The American Dream, appears to be a wet dream for most.

America was founded on the notion that hard work and perseverance will bring success and elevate an individual in society; that's the essence of the American Dream. Yet that notion is increasingly unrealistic for Americans who start out on the lower rungs of the socioeconomic ladder.

Population data on social class mobility in the United States collected between the years of 1996 and 2007 show that less than one percent of people from the bottom 20% of income (less than $18,500 for a household) moved to the top 20% of income (more than $92,000), and roughly one in ten individuals move out of the bottom 20% by working 1,000 extra hours.
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Participants' estimates were way off. They guessed that sixteen percent would rise from the bottom 20% to the top 20%, and 35% of people would make it out of the bottom 20% by working 1,000 extra hours. Once again, the actual numbers are less than one percent and roughly one in ten. The subjects also greatly overestimated the proportion of people able to move out of the bottom 20% by attaining some sort of degree (estimate = 60%, actual = 30%).
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When Kraus and Tan further dived into the data, they found that participants who were younger, more conservative, or who perceived themselves to be from a higher social class were more likely to overestimate mobility.

Because those people believe the right wing pundits, and haven't been bitch slapped by life... yet.