One of the more common lies that Echo Boomers hear which pertains to them is that they have little to no chance of ever becoming part of the top 20% like former American generations have. Of course, this is a media lie spouted by the New York Times over and over again, and finally, a new study shows that Generation Y can reach the top 20% just like former American generations could:
Instead, the study found that 9% of children born in 1986 to the poorest 20% of households were likely to climb into the top 20% — little-changed from 8.4% for such children born in 1971.
Now, for people who can do mathematics (sorry Americans), we can see that it's risen 8.4% to 9%! So why do Americans complain about "rising income inequality?" Well, remember, this involves understanding basic mathematics (new minus old divided by old multiplied by one hundred), so it will be completely lost on them. Back to Krugman's blog to complain about teh income inequalitiez, my dear Americans.