Wealth In The United States

Wealth…. When you think of Wealth what do you envision? Many assume wealth is owning a sports car, wearing designer clothes, living in a huge house, and taking scenic vacations. However, many also assume that it’s impossible to move up in America nowadays. With crippling student loans, exploitive companies hiring unpaid interns for “work experience”, and the rising cost of living, it can seem hard to break even, much less get rich. Unfortunately, this is becoming increasingly true. My firm, the Lewand Advisors Corporation, has conducted a massive study and come to the same conclusion. While we are fond of citing the myth of rags to riches, the truth is that the majority of wealthy people come from money. Our statistics overwhelmingly support this claim. As Miles Corak states in A Great Nation if you are Born Rich, “a child born into the top 10 percent has a one-in-four chance of staying there. Conversely, children from regular households have only a one-in-seven chance of becoming wealthy themselves, and almost …show more content…
This test has in fact, been nicknamed the “Student Affluency Test” As you can see from the slide, it is evident that these critics are not at all wrong. However, the reasoning for the higher scores was in fact not due to tutoring, which only raises a kids score an average of “8-15 points”, but according to the Wall Street Journal “it’s that Family wealth allows parents to locate in neighborhoods with better schools (or spring for private schools). Parents who are themselves college educated tend to make more money, and since today’s high school seniors were born in the mid-1990s, many of the wealthiest and best-educated parents themselves came of age when the tests were of crucial importance. When the SAT is crucial to college, college is crucial to income, and income is crucial to SAT scores, a mutually reinforcing cycle