Posted by Pistol Pete
Democrats want you to believe that the rich and the poor are static classes. Maybe in other countries this is true. Here, it’s not even close.
The statistics the Dems use are taken from static data sets that only show how many Americans are in each bracket at a given time. The CBO report I used for the graphic is based on IRS data that tracks income for specific individuals and households over time.
Yes, there are individual Americans who are born, live and die either very rich or very poor. But they are the exception. Most Americans follow a predictable curve over their lives.
We start out as students with little or no income. But once we start working, our incomes go up. Over time, as we acquire more skills and experience, we move from entry-level to high paid jobs. Our incomes generally peak just before retirement, after which they drop again.
More people make it to the top 20% than stay stuck in the bottom 20%. And most people (like Barack Obama) who make it into the top 1% are only there for a year or so.
H/t Pistol Pete