Americans should know that people in the UK have a greater chance than we do of improving their financial circumstances – 42% of Americans never escape the lowest income bracket, compared to 30% of Brits.
If you really want to achieve the American Dream, move to Denmark. A child born into the bottom fifth on the income scale in Denmark will almost certainly better his economic situation: only one quarter of those at the economic thin end stay there. The same is true of other Scandinavian countries.
American income inequality is becoming positively third world, with some of the richest US states having the largest populations of poor people. In California, 22% live in poverty. In Florida, it’s 20%.