Sunday, May 6, 2018

Withering Fact: Poor Are Born Poor, Rich Are Born Rich

For your entertainment, enjoy this graph showing the percent of inherited wealth in Europe's big three:

Translation: In France, UK, and Germany, among the wealthy, over half are born that way. Share of inherited wealth in the U.S. is as much as 45%.

Upward mobility? Meritocracy? Not so much. This also explains a more recent phenomenon: The rich go to college, and the not-so-rich go into debt.

When I went to college, I emerged with less than 4 grand in debt. Same school, same percentages today? I'd have finished college owing 80 grand. I shudder...

No comments:

Post a Comment