This is only true for native stock Americans. Immigrants do very well here, and it's far far easier to become rich in America than it is anywhere else. The American dream is as real as ever. Income mobility could be a bit easier in Australia, I guess, but I'd be hard pressed to think of many places where it was as possible to climb the social and income ladder. Of course, in America we don't have much of a safety net, so if you have ambitions to climb you gotta be careful not to fall.