Column: Rich slackers do as well as poor strivers in U.S.

[DonCoquixote]

http://www.tampabay.com/opinion/columns/column-rich-slackers-do-as-well-as-poor-strivers-in-us/2203094

Specifically, rich high school dropouts remain in the top about as much as poor college grads stay stuck in the bottom — 14 versus 16 percent, respectively. Not only that, but these low-income strivers are just as likely to end up in the bottom as these wealthy ne'er-do-wells. Some meritocracy.

What's going on? Well, it's all about glass floors and glass ceilings. Rich kids who can go work for the family business or inherit the family estate don't need a high school diploma to get ahead. It's an extreme example of what economists call "opportunity hoarding." That includes everything from legacy college admissions to unpaid internships that let affluent parents rig the game a little more in their children's favor.

But even if they didn't, low-income kids would still have a hard time getting ahead. That's, in part, because they're targets for diploma mills that load them up with debt, but not a lot of prospects.

[unblock]

1. and hey, both fare worse than putting it all on red, which wins a whopping 47% of the time!!!