According to the Economist, becoming a millionaire in America (solely based on median household pre-taxed income ) requires only a few decades. In some other countries (inclusive to Europe) the timescale of enrichment is a whole order of magnitude longer. That is to say, in America one has a better chance of accumulating wealth in their given lifetime in comparison with other economies that would require more than lifetime to realize those same gains. As an American, I receive such figures with enthusiasm.
However, the dinosaur from Vermont has a slightly different opinion:
“These days, the American dream is more apt to be realized in South America, in places such as Ecuador, Venezuela and Argentina, where incomes are actually more equal today than they are in the land of Horatio Alger. Who’s the banana republic now?” – Bernie Sanders
Sanders of course is referring to the same Venezuela which was once the wealthiest country in Latin America, the same “oil rich” nation which now, literally, cannot afford to export its own oil, whose currency has eroded 99.9 percent of its value in less than a decade. Of course such a country can boast of its income equality- a pretty easy achievement when everyone is equally miserable. That is the economic miracle of uniform poverty. And if this is the price to be paid for the “equality of outcomes” than no bloody thanks.
Certainly Doubtful 