Americans Can No Longer Expect Their Children To Do Better


Millennials will be the first generation of Americans since the 1940s to have less than a 50 percent chance of out-earning their parents. According to a new study based on decades of U.S. census and tax data, there has been a precipitous decline in generational earning ability since the Boomers were born with a 90 percent shot of climbing the economic ladder. This data, culled and parsed by Harvard and Stanford University researchers, suggests not only that the American reality has left behind the American Dream , but that the idea of generational progress may become damaging.

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