The American Dream remains alive for one particular group of folks.
Hispanic-Americans are doing much better than their parents when it comes to income mobility. They are climbing up the economic ladder just slightly slower than their white peers, but much faster than blacks, according to a study by Stanford, Harvard and Census Bureau researchers.
For instance, among those who grew up lower middle class, 28% of Hispanics made it to the upper middle class or higher, compared to 35% of whites and only 14% of blacks. And 14% of middle class Hispanic kids made it to the top of the income scale, compared to 19% of whites and 7% of blacks.
Hispanics also were more likely to escape poverty. Some 45% of Hispanics who grew up in the lowest income quintile made it to the middle class or even higher, compared to 46% of whites and 25% of blacks.
The report, the latest work from economics professors Raj Chetty of Stanford and Nathaniel Hendren of Harvard, looked at the earnings of those born in the late 1970s and early 1980s. They then compared these 30-somethings’ earnings with their parents’ income from the mid-1990s to 2000. The study excluded children or parents who were undocumented immigrants.
The research comes at a time when Hispanics are facing a backlash in America. President Donald Trump has repeatedly disparaged Latino immigrants — particularly Mexicans — calling them criminals and a drain on society.