Earlier quoted context omitted.
Vertical social mobility is pretty bad in the US. This is for 2012: https://www.epi.org/publication/usa-lags-peer-countries-mobi... This OECD chart shows how your financial outcome is practically inherited in the US and Germany: https://www.weforum.org/agenda/2018/08/moving-up-the-income-... This isn't very surprising. For decades, the strongest predictor for a country having high social mobility is a strong welfare…
> The strongest predictor for a county having high social mobility is a strong welfare program.. Citation needed. > financed by progressive taxation of income and wealth. Only 4 OECD countries still have a wealth tax. “Taxing wealth” hasn’t worked out very well.
I already posted a bunch? Nevertheless, here, straight from the horse's mouth: https://www.oecd.org/social/soc/Social-mobility-2018-Overvie...
Scientifically this is pretty much consensus for decades now BTW.
> Only 4 OECD countries still have a wealth tax.
True, but I meant not only the tax literally called wealth tax, but all taxes targeting wealth. Almost all OECD countries have inheritance taxes, capital gains taxes, real estate transfer taxes and so on.