The Valentine’s Day Gift That ‘Star Wars’ Fans Will ACTUALLY Use!ĭISCLOSURE: This post may contain affiliate links, which means when you click a link and make a purchase, we receive a commission.
Across the board, the money flows not to helping the young grow up, but helping the old die comfortably.”Īuthor Bruce Gibney calls it ‘ generational plunder’.Īnand Giridharadas makes the case that the super wealthy (tech billionaires et al) cling to their narrative of challenging incumbent power, and that this denial of power-denial that they have ‘won’-is also a denial of responsibility. The federal government spends $480 billion on Medicare and $68 billion on education. “There is a young America and an old America, and they don’t form a community of interest. Perhaps it’s no coincidence that the average age of US Representatives is 57 years, up from 49 years in 1981. The US National Debt, currently at $21.5 trillion ($176,000 per tax payer) is an epic wealth transfer from future generations to the past. In 1984, that ratio was 10X in other words, there’s been a significant net flow of wealth to the Boomer generation. The average for those over 65 years old was $198,000 - or nearly 26X younger households. In the most recent census, the average net worth of a household under 35 years old was $7,670. Some Boomers championed civil rights, but some (particularly white, male, in business) also became architects and beneficiaries of massive wealth transfers. The sense of interconnectedness has not been very evident in Boomers. Those moments of national trauma were the worst of times, but they also led to a sense of social cohesion for the Boomers’ parents.
Generations have always existed in reaction to what’s come before the Boomers at one time pushed against their more conservative, war-and-depression-scarred parents’ generation. Younger Americans are much more likely to support Eminem, Jennifer Lawrence, Katy Perry, Miley Cyrus, Emma Watson (notice the gender skew here the patriarchy in effect). In leaders: older Americans are much more likely to support Donald Trump, Sean Hannity, Joel Osteen, George W. Young Americans are much more likely to support socially progressive brands like Starbucks and Honest Company, and technology brands like Uber, Etsy and Hulu. In brands: unsurprisingly, older Americans are much more likely to support AARP, but also the Chamber of Commerce, Proctor & Gamble, Pfizer, Major League Baseball, The Catholic Church and General Electric. In movements: older people are much less likely to support Women’s March, The #MeToo Movement and Black Lives Matter. In values: older people are more likely to think America is heading in the right direction they feel safer and more comfortable expressing their political and social opinions, they are less likely to believe that race and class are factors of success in America, and less likely to believe that brands and celebrities should take a stand on social issues. Where do we see this generational division?
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