Baby Boomers Officially The Worst Generation In American History

Millennials are composing a thank you (for breaking everything) note to mom and dad.
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By Michael Vadon [CC BY-SA 2.0], via Wikimedia Commons

By Michael Vadon [CC BY-SA 2.0], via Wikimedia Commons

Thanks, “Me” Generation: You not only gave us Bill Clinton, George W. Bush and Donald Trump. You also managed to kill the American Dream in the process.

In 1970, 92% of American 30-year-olds earned more than their parents did at a similar age, they found. In 2014, that number fell to 51%....

Reversing the trend will be very difficult, the economists found. If income distribution remains as tilted toward the wealthy as it is now, they calculate, it would take sustained growth of more than 6% a year, adjusted for inflation, to return to an era where nearly all children outearned their parents. Since World War II, the U.S. hasn’t experienced anything near that level of growth for a lengthy period of time.

Barely Half of 30-Year-Olds Earn More Than Their Parents [WSJ]

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