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
In this 45-minute interview, Jeff Schechtman of Who What Why? and Laurie Calhoun discuss many aspects and implications of the COVID-19 pandemic, including prospects for the future, drawing on observations and arguments made in Questioning the COVID Company Line:...