Fully 20 percent of U.S. adults become rich for parts of their lives, wielding extensive influence over America's economy and politics, according to new survey data. These "new rich," made up largely of older professionals, working married couples and more educated singles, are becoming politically influential, and economists say their capacity to spend is key to the U.S. economic recovery.The political implications of this statistic are immense. It negates the notion, beloved on the left, that upward mobility is no longer possible for Americans.
Upward mobility is difficult-to-impossible for high school dropouts, convicted felons and other screw-ups; and it's likely to stay that way. People with a degree in a feasible career field - business, engineering, teaching, computers, medicine - have a much better than 1 in 5 chance of earning a comfortable living and being upwardly mobile.
