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

http://www.usatoday.com/story/money/2017/01/13/millennials-falling-behind-boomer-parents/96530338/

"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 economic atmosphere is changing. More and more people will need to get a college education, and this has meant a massive amount of profit for colleges. At the same time the value of those degrees is shrinking. Trump wasn't to create more minimum wage manufacturing jobs. That's right. Manufacturing labor now has an average entry point of $12.00. The whole concept is completely short sighted as well because manufacturing jobs ultimately achieve no progress or innovation.

The consequences of not taking care of the millennial generation is going to huge. For one, if you are planning on retiring and sustaining yourself with social security, don't count on that forever. Likewise if you have a pension. At some point those vehicles may be viewed as stealing.

 

Better educated? LOL they are a bunch of losers.

 

Millennials are not objectively "better-educated" in spite of the claims made by the "Young Invincibles"

But, of course! The US is no longer able to oppress 3/5ths of global population and export their Wealth & Capital back to America.

Millennials and Generation Y-Work are just going to have to learn how to do less with less.

http://www.becomingminimalist.com/what-is-minimalism/

http://www.theatlantic.com/business/archive/2014/07/living-with-less/374544/

Then I guess Millennials will have to get on board and push for a 27% increase in the FICA Payroll tax to 8.5% each for employer and employee to ensure Social Security will be there for them.

Note that the Silent Generation suffered a 520% increase in FICA taxes and the Boomers endured a 72% increase in FICA taxes so that Social Security would be there for them.

 

We Boomers made up a large population "bubble" back when we were 20-somethings, and so competition was pretty intense for good jobs. To get a good job, a Boomer had to be pretty well educated and/or have a considerable amount of experience and talent. Did everybody get a good job? Not at all. There were "crap jobs" then, just like now. But today there's fewer Millennials who have gotten QUALITY educations, have had QUALITY work experience, or have exhibited much in the way of real talent, beyond farting around on mobile devices and social media. When there are jobs for that kind of thing, they don't usually pay a lot....

But it's also true that now that everything is so "internationalized", domestic workforce employees have been in increasing competition with cheap labor work forces in other countries. This necessarily drives down expectations of higher incomes in this country as a whole.

Then there's automation, robots, and major U. S. corporations bringing in foreigners to work here -- mainly because the foreigners will work cheap, and, the foreigners typically are better educated, and will work harder, longer, without having nearly so many "issues" as young American workers....

Bottom line: no matter what President Trump does to try to support the idea of "Made in America", it probably won't help today's Millennials much, honestly. After all, an automated robot in America doesn't know that it's "American", and probably won't work much different from a similar robot anywhere else in the world.... Neither of these robots does anything to increase salary expectations for millions of today's Millennial workers, anywhere.

 

Not the Millennials I know. Or at least, only the SJW millennials I know are earning little to nothing. Their non SJW peers are earning a (*)(*)(*)(*) ton

 

the baby boomers were a harder working generation, they were drafted to wars, and faced greater economic problems than millennials.

President Trump is a noble baby boomer and will give the younger generations a better life than he had, because he did not suffer like the other ones who don't have any mercy left in their hearts.

 

You don't get paid for being educated.



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The Corporate State hides countless billions overseas, instead of reinvesting in America. Universities are now corporatized diploma mills that care a lot more about football TV contracts than anything else. Wages are stagnant, while the rich now have so much money, they have to hide it overseas, as well. Only a king with a magic wand can turn all that around.

 

"My children are losers"
-Larry John

 

It's not hidden it's invested over there working for them, you want it invested over here then make it more attractive to do so. Wages are stagnant because we have have no pr0-growth policies for 8 out of the last 10 years and they are starting to recoup now because the last two we have gradually turn more that way.

 

And the baby boomer generation will take it from you with the same zeal, using the same principles you champion.

- - - Updated - - -

Did you learn that from experience?

 

it is cheaper for the rich to create busy work than build robots and get taxed more to pay for the welfare of the unemployed, who would have more time to plot about socialism and bernie sanders.

that is where the tariffs and a huge wall come in, the rich are planning to create a lot of high paying labor work in construction to build infrastructure, manufacturing, energy, and service sector.

it will be put on the chinese credit card, and if there is world war 3 for unpaid debts the peasants will be drafted to make sure the drones don't become self aware.

 

Christopher Walken goes, "Wow!"

Baby boomers, "Oh whoa is us! We had to deal with inflation! Our college education cost $2,000 a year! You had to work the whole summer to make that!"

 

I find that the people who respond to a macro economic opinion with, "the people I know" are typically the type of people who don't accomplish much in life.

 

my grandson who is in his junior year of high school just moved to my rural area from san francisco area..he went to enroll in high scholl here with a 3.5 gpa..it was found out that the classes he was taking in his junior year down there are taught up here in the 9th grade..so to graduate here on time he must go to summer school and also take independent studies at night for the next two years to complete high school on time..some of the classes he is taking now are with all 9th graders except for him...inner city schools failed him...

 

I love when people do this! It's like their minds regresses when they try to insult others. Let's begin the grammar lesson!

First, you should not have started this sentence with "But". The word "but" is a conjunction. Remember that school house rock song?

Second, use the word "are" when referring to many of the subject. The contraction "there's" means "there is". So you basically said, "there is fewer Millennials".

Third, "have" and "gotten" are redundant.

Fourth, you should have used "less" instead of "fewer".

Fifth, if the word "Millennials" is plural, then "educations" should not be.

On another note, you're right. Automation is a much bigger problem than foreign jobs.

 

Who did I insult? You? What did I say that you feel was incorrectly stated?

'Grammar Nazis' have a very difficult challenge in confronting the literary shortcomings of others on public forums. You'll drive yourself nuts, but, go ahead and have a ball! Honestly, I do dispute some of your findings, while a couple are accurate and due to my acquired sloppy writing habits. I no longer have to work, so I probably don't hone and polish my composition skills as much as I used to. Alas....

 

I completely agree. I'm not expecting any social security. That was actually my point. Thank you. All others should prepare for this as well because my generation is going to retaliate when we get in charge.

 

All pervious generations are better educated than the ones that followed simply because the nature of public school education is such that it has been systematically watered down over the decades and Cultural Marxism has replaced so very much. Nose to the grindstone learning and memorizing has been superseded by The Cult of Self Esteem and Participation Trophies.

 

Riiiight. These manipulative children are holding teachers and parents powerless.

 

Well lets see my parents went to a technical high school and left ready to work in respectively my father in a business setting doing white collar work in entry level accounting and in an office, my mother worked in a store and was well prepared for promotion to a supervisory role in time. And even if a student was not particularly skilled (not skilled work in a blue or white collar) they can go work in a factory. If that factory worker was reliable, worked hard, joined the union, maybe took some college classes could promote to line management and so forth say five courses in management or public speaking. And earn a fixed pension and good benefits with a wage that could support a family. Now if that person retired they would have a paid off home very likely, a pension, social security, savings perhaps invested and would be well off.

Can students expect anything like that now when they leave High School at eighteen?

 

Considering the fact most Millennials are over educated and are afraid to get their hands dirty, I'm surprised they make 80%.

 

No . . . just the radical leftists and their ACLU lawyers are holding teachers and parents powerless. Think not? Try BEING a real teacher in a public school or a real parent for that matter. Oh and then hope and pray that a leftist doesn't go after you.

 

Buying potential is a quick way to go broke. People pay for results.



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It's the obama economy...

Trump is going to try and fix it,

but obama has left one hell of a mess to clean up.

It may be much worse than any of us know

I am having the time of my life.....

All is well in Deno's world..........