The “rich” in America are not a monolithic, unchanging class. A study by Thomas A. Garrett, economist at the Federal Reserve Bank of St. Louis, found that less than half of people in the top 1 percent in 1996 were still there in 2005. Such mobility is hardly surprising: A business school student, for instance, may have little money and high debts, but nine years later he or she could be earning a big Wall Street salary and bonus.
“Angry about inequality? Don’t blame the rich” by James Q. Wilson in The Washington Post
I'm Alex. I work in advertising in Sydney, Australia.
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