Millennials earn 20% less than Boomers did at same stage of life

&

Baby Boomers: your millennial children are worse off than you.

With a median household income of $40,581, millennials earn 20 percent less than boomers did at the same stage of life, despite being better educated, according to a new analysis of Federal Reserve data by the advocacy group Young Invincibles.

The analysis being released Friday gives concrete details about a troubling generational divide that helps to explain much of the anxiety that defined the 2016 election. Millennials have half the net worth of boomers. Their home ownership rate is lower, while their student debt is drastically higher.

Continued: Millennials earn 20% less than Boomers did at same stage of life

()
#
%

4 Comments Posted

  1. Hate to break it to you but this is not a generational thing but a tax treatment of capital versus the tax treatment of labor thing. The trend of piling more money into the accounts of the Already Have’s thereby leaving less for the actual workers is not new.

    Stagflation was raging in the late 70’s and Reagan lowered tax rates on the Rich and expanded capital gains rates in order to quell it. And it was not Boomers who enacted most of the policy that enables the bad distribution of income. Boomers didn’t double FICA rates – effectively wiping out personal savings. Boomers didn’t crush the savings and loan industry. Boomers didn’t even really push NAFTA through. It was conservative, free market BS…not any generational split that is causing this problem.

    Blaming Boomers rather than just American greed is not an effective argument.

  2. It is unfortunate that the young lady spent four years in college learning to make pizza. One wonders why she did not follow a course of study involving a more highly marketable skill.

Leave a Reply

Your email address will not be published.


*