MILLENNIALS WERE SCREWED OVER PT2: WE ARE FINANCIALLY SCREWED

2016 and 2017 are two years that we have witnessed how the previous generations and the uninspiring political parties have brought our nation and we the people to where we are today. The same issues we are debating about today are the same issues Theodore Roosevelt in 1912 and Henry Wallace in 1940 campaigned on which is what the people wanted. Recap: in two previous articles I discussed how Theodore Roosevelt and Henry Wallace both progressives from the Republican and Democratic party were screwed over because of their message, even though it resonated with the people. We are where we are today because of the backward political system of both parties continue to fail to listen and understand the future. Not understanding the future has caused terrible fiscal policies which have financially screwed over millennials. Fiscal policies which both parties help implemented and fiscal policies that did not keep pace with the changing generations and different financial needs are a few reasons why millennials are screwed over.

The abysmal tax bill that passed in the Senate, is a clear example of the financial issue millennials will have to tackle when we run for office. The tax bill illustrates the stale and failed fiscal policies of not taking into account the future generations adding more debt and making it more difficult to live. Without any real jobs, decent wages, being able to provide the basic necessities to live is why millennials are financially screwed. Additionally, millennials are screwed because the opportunities that once existed for previous generations are no longer available. Our parents and grandparents generations had more opportunities for advancement and to land a real job, now my generation either has to wait until the previous generations retire or create our own opportunities. Sidebar: notice when applying for jobs every application always wants 5 years experience. However, it is difficult for millennials to get that experience because of the dearth of opportunities and the older generations aren’t ready to leave the workforce.

“Recap: in two previous articles I discussed how Theodore Roosevelt and Henry Wallace both progressives from the Republican and Democratic party were screwed over because of their message, even though it resonated with the people.

According to the Daily Beast, “Baby Boomer’s control a dominant portion of the nation’s wealth-50%, and the Baby Boomers will control 45% well into their seventies and eighties; the Gen-Xers, many already in their fifties, have only 14 percent of the nation’s wealth, a relative pittance compared to the boomers and my generation-millennials face the worst economic circumstances of any generation since the Depression, including daunting challenges to home ownership. More than other generations, millennials have less reason to be enamored with capitalism.” The dearth of real jobs-jobs that my generation-millennials want such as getting started in our careers and be able to support ourselves is not available. Too many millennials are highly educated and are severely underemployed or not employed, a key reason why my generation heavily supported Bernie Sanders-he understands the future. My generation is financially screwed because of the failed economic policies from Reagan up until now, laws that kept wages stagnant for thirty years, our government not understanding the future with the changes of each generation.

“Too many millennials are highly educated and are severely underemployed or not employed which is why my generation heavily supported Bernie Sanders-he understands the future.”

Today’s households headed by adults 35 and below have 68% less wealth than those their age a quarter-century ago.” Forbes. A financially secure future is what my generation wants, it is what the Baby Boomers, Gen Xers and the Silent Majority generation were able to achieve. Because of the failure of not keeping pace with the changes time of each generation, millennials will stand to lose more and will receive little or nothing of the nations’ wealth. Millennials make far less than the previous generations, own less than previous generations and are the generation who will have to work longer pass the retirement age to make up for the economic shortfall. Not being financially secure in your thirties is upsetting for many millennials because it will take longer to catch up to previous generations who were better off financially in their thirties.

Today’s households headed by adults 35 and below have 68% less wealth than those their age a quarter-century ago.” Forbes.

Sources:

https://www.thedailybeast.com/the-screwed-generation-turns-socialist

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

https://www.forbes.com/sites/evapereira/2011/11/08/wealth-inequality-between-young-and-old-generations-reaches-record-high/#77566a7932d4

 

 


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