Politicians and reporters often rail about "the rich getting richer and the poor getting poorer."
But John Stossel argues it's not true. Another misleading claim, says Stossel, is the idea that the U.S. "no longer has economic mobility."
A paper in The Quarterly Journal of Economics found that most people born to the richest fifth of Americans fall out of that bracket within 20 years. Likewise, most born to the poorest fifth climb to a higher quintile. Some climb all the way to the top.
Another claim is that inequality itself is a huge problem. New York City mayor Bill DeBlasio warns, "There's inequality in this country right now that is threatening to tear us apart." Stossel says that it might tear us apart -- but only if people come to believe that all inequality is evil.
