Social mobility exists but is low in the US and has been on the decline. There's no hard and fast rules on class in the US but for all practical purposes most people are going to be the same class as their parents
Or maybe worse, if they are from middle class or lower.
I worked for a couple of NY financial services firms and saw first hand how easy it was to get internships, interviews and jobs for kids with connected parents while the rest of them struggled.
I think the worst result of this is, people might (maybe they already have?) just stop trying. Very few people are gonna put up with years and years of crap just to get ahead a little bit, most people aren't just built that way.
