A “poor person” is often a future “rich person” in an earlier stage of their life. In 1975, three-quarters of those in the bottom 20% were in the top 40% at some point in the next 16 years. Almost two decades of experience in any given career will inevitably result in higher income. Over a lifetime, the degree of income inequality is different from that in any given year.

In 2011, a household income of about $100,000 was considered “rich”. A couple both earning slightly above $50k a year achieve this; hardly the elite. On the other side, a “poor” person has often entered at the bottom of a career path. They could also be reliant on another provider, such as their parents.