The American Dream Of Starting At The Bottom And ...

The American Dream of starting at the bottom and working your way up is fading according to new longevity studies (studies that follow individual and families over many years). Business Week reports that the number of families who stayed stuck in the same income bracket—be it the bottom or the top—over the course of a decade actually increased in the ‘90’s. Although the boom lifted pay rates for some, fewer worked their way into better-paying jobs. Today upward mobility is determined increasingly by a college degree that’s attainable mostly by those whose parents already have money or education. Although college enrollment has soared for higher-income students, more children from poor families can only afford to go to community colleges, which typically do not offer bachelor’s degrees. Some 49% of families started the ‘70’s in poverty were still there at the end of that decade versus 53% in ‘90’s. (Business Week 12/1/03)

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