The American dream is alive and well for the wealthiest 1% of Americans, but unfortunately, if you are in the other 99% the jury is still out.
"America is obviously a country where you can go from being middle class to upper class, but right now class mobility has sort of collapsed in the United States," says Zaid Jilani, senior reporter for the progressive think tank ThinkProgress.org. (See: America's Middle Class Crisis: The Sobering Facts)
This grim reality is in part the impetus for the Occupy Wall Street movement, which, now in its fourth week, will take to the streets of Manhattan's Upper East Side Tuesday in what it is calling the "Millionaire's March." Demonstrators will rally outside the homes of some of the city's wealthiest, including News Corp. (NWS) head Rupert Murdoch and JPMorgan Chase (JPM) CEO Jamie Dimon, to protest New York state's 2% millionaire tax set to expire at the end of the year.
As the Occupy Wall Street movementRead More »from The Top 5 Facts About America’s Richest 1%