Some 94 percent of Americans who reach “top 1 percent” income status will enjoy it for only a single year. Approximately 99 percent will lose their “top 1 percent” status within a decade.
Now consider the top 400 U.S. income-earners—a far more exclusive club than the top 1 percent. Between 1992 and 2013, 72 percent of the top 400 retained that title for no more than a year. Over 97 percent retained it for no more than a decade.
– Chelsea Follett, High Turnover Among America’s Rich
The Kyle Anzalone Show with Dave Smith on the Midterm Elections and the Iran War
Trump’s second term was supposed to be the reset: less chaos, fewer neocons, and a renewed focus on problems at home. Instead, we’re watching an Iran conflict spiral while the administration sells the public a fantasy of easy wins and controlled escalation. I’m joined...
