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The haves—and the have yachts: only 8 per cent of American men born into poverty make it into the top 20 per cent income bracket

In America, agonising over race is a national pastime. Gender gets a good airing as well. Class, however, is a touchy subject. We cling to the cherished myth of the meritocracy which insists that class does not matter, that anyone can go from a log cabin to the White House. Talk of class sounds unpatriotic, Marxist, European. During a presidential debate earlier this year, Mitt Romney tried to make a point about the middle class,…

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