Axios: Millennials Are Much Poorer Than Their Parents
Thirty-year-old millennials’ fortunes, sex lives, and income are all pitiful compared to what their fathers enjoyed at age 30, according to Axios.
Millennial men pay 2.5 times as much for college, have triple the debt, have half the chance of being married, fewer kids, and are much less likely to own a home, according to the data presented by Axios.
Over the last 4 decades, young Americans have paid more for education even as their incomes have stayed flat. The result? WAY more debt, and fewer "adult" rites of passage like marriage and homeownership.
Explore the numbers: axios.com/one-big-thing-…
via @axiosvisuals @axios
Axios reported that compared to 30 years ago:
Men are more likely to earn less. In 1975, only a quarter of 25 to 34-year-old men made less than $30K per year, but that number rose to 41% in 2016.Going deeper: As a measure of upward mobility, 92% of 30-year-olds in 1970 earned more than their parents at that age, according to a 2016 study led by Raj Chetty, a Stanford economist (h/t Roger Lowenstein). But of those who were 30 in 2014, just half earned more.[Economist Raj] Chetty attributed most of this erosion to slower GDP growth and a change in the distribution of GDP favoring higher earners: GDP would have to rise by 6% a year to get the same impact, he said, and wealth would have to be distributed much more evenly.
Millennial women are individually better off than their mothers — but the women’s husbands are the millennial men.
Missing from Axios, however, is any mention of the causes, such as the federal government’s immigration policy of importing one new worker for every four Americans who graduate school or college each year.
This massive 25 percent inflation of the labor supply is widely ignored by economists who struggle to understand why young men earn so much less than their parents. The new-labor inflation is made worse by the government’s policy of importing temporary workers for good jobs in the expanding professional sectors. Roughly 1.5 million foreign guest-workers now hold jobs in healthcare, technology, academia and other sectors, even as young American college graduates struggle to pay off debts.
President Donald Trump’s “Hire American” campaign would modestly curb the inflow of immigrants and foreign workers, but it is strongly opposed by progressives, Democrats and business-first Republicans.
Four million Americans turn 18 each year and begin looking for good jobs in the free market — but the government provides green cards to roughly 1 million legal immigrants and temporary work-permits to roughly 3 million foreign workers.
The Washington-imposed economic policy of economic growth via mass-immigration shifts wealth from young people towards older people by flooding the market with foreign labor. That process spikes profits and Wall Street values by cutting salaries for manual and skilled labor offered by blue-collar and white-collar employees. The policy also drives up real estate prices, widens wealth-gaps, reduces high-tech investment, increases state and local tax burdens, hurts kids’ schools and college education, pushes Americans away from high-tech careers, and sidelines at least 5 million marginalized Americans and their families, including many who are now struggling with opioid addictions.
Kevin De Léon is the LA RAZA “The Race” FASCIST SUPREMACIST for U.S. Senate.
http://mexicanoccupation.blogspot.com/2018/07/the-la-raza-mexican-welfare-state-of.html
De Léon holds far-left views on immigration, gun control, and other issues. Last year, he admitted that half of his family was in the country illegally. Earlier this year, he appointed an illegal alien to a statewide office. He is also the author of SB 54, one of the three surviving “sanctuary state” laws that the Trump administration challenged earlier this year.
“Free my anchor baby breeding unregistered Democrats!” La Raza Hillaria Clinton
ENDORSED BY MEXICO, HISPANDERING HILLARIA CLINTON VOWS THAT MEXICO WILL ELECT ALL FUTURE U.S. PRESIDENTS!
http://mexicanoccupation.blogspot.com/2018/07/la-raza-hillary-clinton-backs-mexican.html
VIVA LA RAZA SUPREMACY?
(DO A SEARCH FOR THE CLINTON’S LONG HISTORY WITH THE MEXICAN FASCIST PARTY of LA RAZA “The Race” NOW CALLING ITSELF UNIDOSus.)
Who ultimately really pays for all the true cost of all that "cheap" labor?
THE DEVASTATING COST OF MEXICO’S WELFARE STATE IN AMERICA’S OPEN BORDERS
“The Democrats had abandoned their working-class base to chase what they pretended was a racial group when what they were actually chasing was the momentum of unlimited migration”. DANIEL GREENFIELD / FRONT PAGE MAGAZINE
THE DEMOCRAT PARTY’S WAR ON AMERICA’S LEGAL WORKERS, BORDERS AND LAWS as they build the LA RAZA welfare state on our backs.
*One in every eleven persons born in Mexico has gone to the U.S. The National Review reported that in 2014 $1.87 billion was spent on incarcerating illegal immigrant criminals….Now add hundreds of billions for welfare and remittances! MICHAEL BARGO, Jr…… for the AMERICAN THINKER.COM
"Chairman of the DNC Keith Ellison was even spotted wearing a shirt stating, "I don't believe in borders" written in Spanish.
According to a new CBS news poll, 63 percent of Americans in competitive congressional districts think those crossing illegally should be immediately deported or arrested. This is undoubtedly contrary to the views expressed by the Democratic Party.
Their endgame is open borders, which has become evident over the last eight years. Don't for one second let them convince you otherwise." Evan Berryhill Twitter @EvBerryhill.
College-Grad Salaries Eroded by Hidden Army of 1.5 Million Visa-Workers
Every CEO in every company sees the business opportunity: Will I earn higher profits by replacing my American staff with cheaper H-1B workers? The answer is an obvious yes.
The Washington-imposed economic policy of economic growth via mass-immigration shifts wealth from young people towards older people by flooding the market with foreign labor. That process spikes profits and Wall Street values by cutting salaries for manual and skilled labor offered by blue-collar and white-collar employees. The policy also drives up real estate prices, widens wealth-gaps, reduces high-tech investment, increases state and local tax burdens, hurts kids’ schools and college education, pushes Americans away from high-tech careers, and sidelines at least 5 million marginalized Americans and their families, including many who are now struggling with opioid addictions.
STARING IN THE FACE of AMERICA’S UNRAVELING and the ROAD TO REVOLUTION
“It will more likely come on the heels of economic dislocation and dwindling wealth to redistribute.”
"The kind of people needed for violent change these days are living in off-the-grid rural compounds, or the “gangster paradise” where the businesses of drugs, guns, and prostitution are much more lucrative than “transforming” America along Cuban lines." BRUCE THORNTON
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