How to Restore Blacks' Upward Mobility?
In his jobs speech earlier this month, President Barack Obama spoke eloquently of a time when Americans felt that hard work invariably paid off. We "believed in a country where everyone gets a fair shake and does their fair share."
I'm not convinced that most black Americans ever really felt that way. Many of us instead were convinced that the deck was stacked against us, that no matter how hard we worked, we would never get a fair shake. But even in the midst of our deepest despair, we were hopeful for our children. We believed that, whatever we had to go through, life would be better for those who followed.
A major new study has dashed a bucket of cold water on that dream. The report, by the Economic Mobility Project of the Pew Charitable Trusts, points out that a third of Americans who are born in the middle class (defined by Pew as those between the 30th and 70th percentiles of the income distribution) lose their middle-class status as adults.
Read the full article at theroot.com.
- Economic Mobility Project