The amount of economic advantage passed down from one generation to the next is much higher in the US. Approximately 50% of a father’s income position is inherited by his son. In contrast, the amount in Norway or Canada is less than 20%.
In the US, 8% of children raised in the bottom 20% of the income distribution are able to climb to the top 20% as adults, while the figure in Denmark is nearly double at 15%.
American life expectancy varies by up to 20 years depending on the zip code of residence.
Quality of education also differs widely depending on the wealth of the neighborhood that families reside in.
And the chances of being victimized by a crime, exposed to environmental toxins or having unmet healthcare needs is far greater for America’s poor than those impoverished in all other OECD countries.
Currently, those in the top 20% of the income distribution earn nearly nine times more than those in the bottom 20%. This difference is far greater than in the European Union or the United Kingdom.
Wealth inequality is even more skewed. In the United States, the top 5% of the population own three-quarters of the entire financial wealth of the country, while the bottom 60% possess less than 1%.