Why the System Feels Rigged To Young People
by Robert Jennings, Innerself.com
Remember when the American Dream meant something? When one income could
buy you a home, put food on the table, and send your kids to college
without breaking a sweat? Yeah, me neither—it’s been that long. Today,
the dream is less “white picket fence” and more “please don’t overdraft
my account.” And while the wealthy are busy buying second yachts and
escaping to private islands, the rest of us are stuck reinventing what
it means to “succeed.”
Welcome to 2025, where financial wellness is all the rage. It’s not
about getting rich anymore—no, that’s for the top 1%. The rest of us are
focused on simply staying afloat without drowning in debt-induced
despair. Think of financial wellness as the participation trophy of
economics: you’re not winning, but hey, at least you’re not completely
losing.
The 1950s: One Job, One Dream
Let’s take a stroll down memory lane to the 1950s, the golden era of the
American middle class. Back then, a single income could support a
family of four, complete with a house, a car, and a yearly vacation to
the Grand Canyon. Workers didn’t need three side hustles just to afford
eggs. The union movement was strong, and wages rose in tandem with
productivity. There was even this wild concept called pensions, where
employers actually helped you retire instead of quietly replacing you
with an algorithm.
Fast forward to today, and that dream is a relic. The middle class is
shrinking faster than the Arctic ice caps, and wages haven’t kept pace
with inflation since bell-bottoms were in style. What happened? Oh, just
a few minor tweaks, like dismantling unions, deregulating industries,
and letting corporations prioritize shareholders over workers. You know,
the usual.
The Inequality Chasm
Here’s a fun fact to spice up your day: the top 1% of Americans own more
wealth than the bottom 90% combined. Let that sink in. While
billionaires are racing to colonize Mars, the rest of us are stuck here
on Earth wondering how to make rent. It’s not just a gap anymore; it’s a
canyon so wide you’d need Elon Musk’s rocket to get across.
And it didn’t happen by accident. For decades, policymakers rolled out
the red carpet for the wealthy, cutting their taxes, deregulating their
industries, and giving them a free pass to hoard wealth like it’s the
apocalypse. Meanwhile, the rest of us were handed austerity measures and
a pat on the back. Trickle-down economics, they called it—though
“drip-down” would’ve been more accurate.
Wages Stuck in Neutral
Here’s the kicker: while productivity has skyrocketed, wages have barely
budged. Workers are doing more, producing more, and somehow earning
less. How does that math work? Simple: all the profits are being
funneled upward to the wealthiest among us. CEOs are raking in hundreds
of times what their average employee earns, all while claiming they
can’t afford to raise wages. It’s a tale as old as capitalism.
Take the federal minimum wage, for example. It’s been stuck at $7.25 an
hour since 2009. Adjusted for inflation, that’s practically Monopoly
money. Yet somehow, corporations still manage to pay their executives
millions in bonuses. Funny how that works, isn’t it?
Student Debt: The New American Tradition
If there’s one thing Millennials and Gen Z have perfected, it’s the art
of student debt. In the 1950s, college was affordable—even for
working-class families. Today, it’s a financial death sentence.
Graduates are leaving school with tens of thousands of dollars in debt,
only to enter a job market that pays in exposure and coffee shop tips.
Continue Reading:
https://innerself.com/social/economy/inequality/31364-financial-inequality-solutions.html
#Inequality #WealthGap #studentdebt #WageStagnation #SideHustleEconomy #InequalitySolutions #WealthInequalityImpact #EconomicReform
