For generations, the formula for getting ahead in America seemed straightforward: Go to college, work hard, save your money, buy a home and climb the economic ladder.
Today, that formula increasingly depends on something many Americans can’t control: whether their family has the financial means to help along the way. Without that support, many Americans face mounting debt and an increasingly difficult – if not impossible – path to homeownership and wealth accumulation.
13 Comments
Ludicrous0251@piefed.zip · 57 pts · 25d
Oh sweet summer child, inherited wealth has always been the American dream. How do you think 99% of our oligarchs got to where they are today?
BCsven@lemmy.ca · 15 pts · 25d
I think they mean just the general population needs help now, not by inherited money but by parents supporting the kids while they are still alive.
TheFogan@programming.dev · 5 pts · 25d
I think the point is that really hasn't changed. You just take the family slaves and farms and you can make a fortune, kind of goes back to the nations founding. Only real change I guess is the rare exceptions of someone starting with nothing and building up an empire, are getting rarer.
phutatorius@lemmy.zip · 1 pts · 21d
They were always exceptional. The best predictor of someone having wealth is that their family was wealthy. That has remained true for as long as the data has existed.
trackball_fetish@lemmy.wtf · 1 pts · 24d
Hahahahahhahahahahahahahahahhahahahhahahahahahahhaa
Malyca@lemmy.zip · 4 pts · 24d
All those tantrums about the estate taxes weren't for nothing
Fedizen@lemmy.world · 4 pts · 24d
Estate taxes need to be 100% over 10 million dollars
phutatorius@lemmy.zip · 2 pts · 21d
That'd be a good start.
Switorik@sh.itjust.works · 21 pts · 25d
Prices across the board have gone up, wages have not. People keep thinking they'll climb the ladder and in reality, any raises they get are lucky to keep up with inflation.
IAmYouButYouDontKnowYet@reddthat.com · 10 pts · 25d
The Western Vow
By T.J. Fuckmylife
I won't stop living and existing for my wants and excess until the world is run dry. And all the while I'll direct blame on everyone else instead of my culture and lifestyle. Because, by God, existential escapism and the collapse of common human being is exactly what they indoctrinated me for. I will do my best impression of the wealthy class as if they are a prime example of success, all while funding them to bleed authentic human culture. I will fiercely and publicly talk shit and make social media posts about them to vail my sinister participation. I will vote time and time again to exhibit the submission of my soul and essence.
May the overlords prosper at the expense of all.
Amen
FirstCircle@lemmy.ml · 1 pts · 25d
*veil
Blessed are they who employ good grammar and spelling.
JoeBigelow@lemmy.ca · 2 pts · 25d
Vail is another evil entirely
partial_accumen@lemmy.world · 1 pts · 23d
This isn't new. Many young Boomers were helped financially by their Silent Generation parents in going to college and buying their first houses.