From Reuters:

- Chances a child born into a poor family has of making it into the richest five percent: 1%
- Chances a child born into a rich family has of being rich as an adult: 22%
- Percentage of Americans who believe it is possible to start poor and become rich through hard work: 80%
- Percentage of white families who start poor and remain poor: 32%
- Percentage of black families who start poor and remain poor: 63%

The study also "found the United States had one of the lowest levels of inter-generational mobility in the wealthy world, on a par with Britain but way behind most of Europe."

As Steven Colbert recently said: I believe in pulling yourself up by your own bootstraps. I believe it is possible -- I saw this guy do it once in Cirque du Soleil. It was magical.

Hat tip: Donklephant