Ten Cities Where the Poor Can’t Get Rich

Really eye-opening report. Poor people in these cities really don’t have much of a chance. Wonder what D.C. will do for them? Anything? Don’t hold your breath…………

24/7 Wall St.

Is the American Dream dead? The vast majority of Americans born into poverty are unable to make much more than their parents. According to data released earlier this week from a study spanning three decades, Americans living below the poverty line had less than a 10% chance of making it into the top tier of earners.

In some metropolitan areas, the chances for upward economic mobility were even worse. A child born in Memphis between 1980 and 1985 had just a 2.6% chance of making it into the top 20% of earners by the time he or she had reached adulthood. Based on the difference in the expected economic outcomes between children from high-income and low-income families, these are the cities where the poor cannot get rich.

Click here to see the cities with low economic mobility

The underlying forces preventing upward mobility are a matter of debate, but there…

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