IRS Data: American Dream Evaporates, Amid Mass Immigration, Automation

The probability of American children earning as much as their parents has plunged from 92 percent down to 50 percent during the last seven decades, according to a new study of tax data and the shrinking American Dream of upward mobility. Compared to people born in 1940, the “babies born in 1980 — today’s 36-year-olds — the index of the American dream has fallen to 50 percent: Only half of them make as much money as their parents did,” says a report in the New York Times. -- More...