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more than half of 30 year olds are worse off than their parents at same age
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Date: December 9th, 2016 12:28 AM Author: contagious balding abode http://www.nytimes.com/2016/12/08/opinion/the-american-dream-quantified-at-last.html?_r=0
in 1940, a child born in to an average American household had a 92% of making more money than their parents. in 1950, 79%. now it's under 50%. |
Date: December 9th, 2016 12:30 AM Author: Cream theater stage juggernaut NYT: The American Dream, Quantified at Last (aka We're Fucked)
http://www.xoxohth.com/thread.php?thread_id=3453207&forum_id=2 |
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Date: December 9th, 2016 12:30 AM Author: Cream theater stage juggernaut Those born in 1980s: 50% chance of being better off than parents. 1950s? 80%
http://www.xoxohth.com/thread.php?thread_id=3453237&forum_id=2 |
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Date: December 9th, 2016 12:31 AM Author: contagious balding abode can you begrudge me one extra anti-boomer thread? or a dozen, maybe. (http://www.autoadmit.com/thread.php?thread_id=3453923&forum_id=2#32092917) |
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Date: December 9th, 2016 12:32 AM Author: Cream theater stage juggernaut I'm making a We're Fucked web ring. (http://www.autoadmit.com/thread.php?thread_id=3453923&forum_id=2#32092931) |
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Date: December 9th, 2016 12:33 AM Author: contagious balding abode (http://www.autoadmit.com/thread.php?thread_id=3453923&forum_id=2#32092934) |
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Date: December 9th, 2016 12:30 AM Author: contagious balding abode Rico Johnson says that when he was growing up, he never had to worry about having clothes or getting three meals a day.
His single mother, a human resources director at a San Diego nursing home, made enough to give him that peace of mind.
But Johnson, 33, now makes $12.50 an hour working at a Taco Bell in Richmond, Calif., and he struggles to make his paycheck cover the basics for his 10-year-old twins.
“Things I am dealing with now, [my mother] didn’t have to deal with. … It’s heartbreaking,” Johnson said. “I feel I am unable to provide my kids with the same opportunity.”
His experience is the norm in America, a new study reveals.
Since the 1940s, it has become less and less likely that children will grow up to earn more than their parents, according to a working paper authored by researchers from Stanford and Harvard universities and UC Berkeley, which was released online Thursday.
Children born in 1940 had a 92% chance of taking home more income than their parents, the research shows. By contrast, someone born in 1984 — who is 32 years old today — has just a 50% likelihood of making more than his or her parents.
Put another way: Only about half of 30-something Americans earn more than their parents.
http://www.latimes.com/business/la-fi-american-dream-study-20161208-story.html |
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Date: December 9th, 2016 12:34 AM Author: contagious balding abode this is the fucking quote right here:
The rise of inequality has damaged the American dream more than the growth slowdown. One way to think about inequality’s role is to remember that the American economy is far larger and more productive than in 1980, even if it isn’t growing as rapidly. Per-capita G.D.P. is almost twice as high now. By itself, that increase should allow most children to live better than their parents. They don’t, however, because the fruits of growth have gone disproportionately to the affluent. The researchers ran a clever simulation recreating the last several decades with the same G.D.P. growth but without the post-1970 rise in inequality. When they did, the share of 1980 babies who grew up to out-earn their parents jumped to 80 percent, from 50 percent. The rise was considerably smaller (to 62 percent) in the simulation that kept inequality constant but imagined that growth returned to its old, faster path. |
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Date: December 9th, 2016 12:35 AM Author: Cream theater stage juggernaut But we're growing the pie! (http://www.autoadmit.com/thread.php?thread_id=3453923&forum_id=2#32092945) |
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Date: December 9th, 2016 12:38 AM Author: contagious balding abode http://www.nytimes.com/2016/12/06/business/economy/a-bigger-economic-pie-but-a-smaller-slice-for-half-of-the-us.html (http://www.autoadmit.com/thread.php?thread_id=3453923&forum_id=2#32092958) |
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Date: December 9th, 2016 12:46 AM Author: Cream theater stage juggernaut “only all-out thermonuclear war might fundamentally reset the existing distribution of resources.”
Or a fortuitous meteor. |
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Date: December 9th, 2016 12:51 AM Author: bonkers stirring fat ankles kitchen Nah, have hope. Red Dawn will come. Believe in ARE Putin. (http://www.autoadmit.com/thread.php?thread_id=3453923&forum_id=2#32093044) |
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Date: December 9th, 2016 2:56 AM Author: Wine Mad-dog Skullcap Dilemma hehe (http://www.autoadmit.com/thread.php?thread_id=3453923&forum_id=2#32093556) |
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Date: December 9th, 2016 12:44 AM Author: Cream theater stage juggernaut ITT: the destruction of the middle class in 7 charts
http://www.xoxohth.com/thread.php?thread_id=3451599&forum_id=2 |
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Date: December 9th, 2016 12:50 AM Author: bonkers stirring fat ankles kitchen We havent built any entry level housing stock but we have added 100 million people to the population. All the housing built during the bubble was McMansion style second home shit for boomers that 30 year olds cant afford as starter homes. The result is an actual housing shortage and housing eating 45-48% of people's budgets so even if you make more than your parents you are spending most of that money on housing and it's the exact same housing only 30 years older and in shittier shape. What entry level housing we did add is TTT condos. ARE parents would have NEVER lived in condos. Condos were for second world Soviet block countries but now they are the definition of the starter home. (http://www.autoadmit.com/thread.php?thread_id=3453923&forum_id=2#32093036) |
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Date: December 9th, 2016 12:52 AM Author: Chocolate sex offender very sad (http://www.autoadmit.com/thread.php?thread_id=3453923&forum_id=2#32093048) |
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Date: December 9th, 2016 2:17 AM Author: useless marvelous pistol (http://www.autoadmit.com/thread.php?thread_id=3453923&forum_id=2#32093458) |