Thirty-year-old millennials’ fortunes, sex lives, and income are all pitiful compared to what their fathers enjoyed at age 30, according to Axios.
Millennial men pay 2.5 times as much for college, have triple the debt, have half the chance of being married, fewer kids, and are much less likely to own a home, according to the data presented by Axios.
Over the last 4 decades, young Americans have paid more for education even as their incomes have stayed flat. The result? WAY more debt, and fewer "adult" rites of passage like marriage and homeownership.
Explore the numbers: axios.com/one-big-thing-…
via @axiosvisuals @axios
Axios reported that compared to 30 years ago:
Men are more likely to earn less. In 1975, only a quarter of 25 to 34-year-old men made less than $30K per year, but that number rose to 41% in 2016.Going deeper: As a measure of upward mobility, 92% of 30-year-olds in 1970 earned more than their parents at that age, according to a 2016 study led by Raj Chetty, a Stanford economist (h/t Roger Lowenstein). But of those who were 30 in 2014, just half earned more.[Economist Raj] Chetty attributed most of this erosion to slower GDP growth and a change in the distribution of GDP favoring higher earners: GDP would have to rise by 6% a year to get the same impact, he said, and wealth would have to be distributed much more evenly.
Millennial women are individually better off than their mothers — but the women’s husbands are the millennial men.
Missing from Axios, however, is any mention of the causes, such as the federal government’s immigration policy of importing one new worker for every four Americans who graduate school or college each year.
This massive 25 percent inflation of the labor supply is widely ignored by economists who struggle to understand why young men earn so much less than their parents. The new-labor inflation is made worse by the government’s policy of importing temporary workers for good jobs in the expanding professional sectors. Roughly 1.5 million foreign guest-workers now hold jobs in healthcare, technology, academia and other sectors, even as young American college graduates struggle to pay off debts.
President Donald Trump’s “Hire American” campaign would modestly curb the inflow of immigrants and foreign workers, but it is strongly opposed by progressives, Democrats and business-first Republicans.
Four million Americans turn 18 each year and begin looking for good jobs in the free market — but the government provides green cards to roughly 1 million legal immigrants and temporary work-permits to roughly 3 million foreign workers.
The Washington-imposed economic policy of economic growth via mass-immigration shifts wealth from young people towards older people by flooding the market with foreign labor. That process spikes profits and Wall Street values by cutting salaries for manual and skilled labor offered by blue-collar and white-collar employees. The policy also drives up real estate prices, widens wealth-gaps, reduces high-tech investment, increases state and local tax burdens, hurts kids’ schools and college education, pushes Americans away from high-tech careers, and sidelines at least 5 million marginalized Americans and their families, including many who are now struggling with opioid addictions.
"Democrats are throwing blacks under the bus by appealing for the Hispanic vote by calling for open borders. The lives of blacks in cities like Detroit, with uninterrupted Democratic rule for decades, have not improved significantly. These policies have been devastating to blacks."
Illegal Immigration and Poor Americans
The Democrats and the left have a rallying cry regarding the Trump administration's policy toward those crossing the border illegally. They point to the separation of children from their parents and deplorable conditions. They claim that it is a humanitarian effort, but how humanitarian is it to drop off numerous unaccompanied children or release them into an unknown territory where they can become the victims of predators? They never address the negative impact on the poor American citizen.
They are calling attention to pictures of children in cells, yet, in 2014, when Obama was president, American Thinker interviewed then-governor of Arizona Jan Brewer, who stated, "Each child has a designation of cells, such as 'cell 7 or cell 8.' There is a chain link fence surrounding them and they are sleeping on bed mats with just a blanket. It breaks my heart to see babies being born in these facilities. I spoke with a fifteen-year-old who is pregnant. I was told by a lot of these children that they had to pay between $5,000 and $7,000 and that they still owe money to those who brought them here. You know what these cartels will do – use extortion. We need to question if there were any children that never arrived, and what happened to them? What about the potential for these children to be part of a human-trafficking ring? Do we know anything about the people they are being released to? As a mother, I can never conceive that these children would be sent with a stranger to a strange land on a fifteen-day hazardous journey. I understand the humanitarian argument and feel the situation is pathetic and pitiful. But what about the children who are American citizens living in ghettos and are fearful for their lives because of gang violence? The bottom line is, America is not big enough or rich enough to accept all these people."
Another instance was told to American Thinker by a member of the Civil Rights Commission, Peter Kirsanow, who also happens to be a great thriller-writer, his latest being Second Strike. A few years ago, he and his colleagues went to a Texas detention center and found the conditions to be the opposite of Arizona's. "We found very nice facilities where the people there were given three meals a day, dental/medical care, clothing, and a nice recreational area. Yet the majority report included two photos showing horrific conditions. My assistant discovered that these were not of the detention center, but of prisons," which also separate families when either a mother or father is incarcerated.
Kirsanow is frustrated with what is happening in America today. He is a black American and believes that illegal immigration has a devastating effect on low-income American citizens. It seems that the Democrats and left are just using the illegal immigration issue as a talking point, supporting aliens at others' expense. "We need to understand illegal immigrants have some negative competitive effects on American workers. They drag down wage rates, drag down employment, and compete directly with blacks in industries such as service, hospitality, and construction. Welfare and college spots have been taken from Americans and given to illegal immigrants. They are a net drain on the economy."
Steven A. Camarota, director of research for the Center for Immigration Studies, agrees. "Because the overwhelming share of illegal immigrants residing in the country have not completed high school or have only a high school education, it would require highly implausible assumptions to avoid a substantial net fiscal drain from this population. In short, illegal immigrants are a large net fiscal drain because of their education levels, and this fact drives the results."
He compared the amount in annual expenditures on children in detention centers to those of American children: "the March 2017 Current Population Survey has 24 percent of American children living in a household making $35,000 or less. And it is my understanding that is what we spend on kids in detention."
Senator Robert Kennedy was in the Mississippi Delta 50 years ago for a Senate subcommittee examination of War on Poverty programs. Ellen B. Meacham wrote in an op-ed, "What he saw on his widely publicized trip shocked a nation, but Americans would be even more shocked to know that 50 years later, the Delta remains desperately poor," with one in three people running out of food each month. Perhaps this is because the attention has shifted to the illegal alien.
Concerning the separation of families, the Heritage Foundation found that single parents make up the overwhelming majority of all poor families with children in the United States. Welfare programs create disincentives to marriage because benefits are reduced as a family's income rises, such as food stamps, public housing, Medicaid, day care, and Temporary Assistance for Needy Families.
It is striking that the conditions of a poor American child do not draw the same attention and sympathy as children of illegal aliens. Kirsanow wants people to understand that 73% of black children are born to a single mother, up from 20% in the 1960s. "Liberal policies have been responsible for this. The Democratic policies facilitate single parenthood, separating children from their families."
Kirsanow cites the statistic that competition from illegal aliens has caused 40% of the nineteen-point decline of black employment levels over a couple of decades. "We are talking over a million jobs. Black wage rates were suppressed by $1,000 annually. Democrats are throwing blacks under the bus by appealing for the Hispanic vote by calling for open borders. The lives of blacks in cities like Detroit, with uninterrupted Democratic rule for decades, have not improved significantly. These policies have been devastating to blacks."
All Americans should strive to protect our fellow citizens and their interests first. As Kirsanow summarized, "it is really disappointing to see an entire party more invested in the plight of foreigners than in the welfare of Americans. The Democrats understand that even though they have policies devastating to blacks they still get 90% of their votes. They have disjointed appeals to different identity groups, with electoral politics trumping all."
The author writes for American Thinker. She has done book reviews and author interviews and has written a number of national security, political, and foreign policy articles.
Kevin De Léon is the LA RAZA
“The Race” FASCIST SUPREMACIST for U.S. Senate.
http://mexicanoccupation.blogspot.com/2018/07/the-la-raza-mexican-welfare-state-of.html
De Léon holds far-left views on
immigration, gun control, and other issues. Last year, he admitted that half of his
family was in the country illegally. Earlier this year, he appointed an
illegal alien to a statewide office. He is also the author of SB 54, one of the
three surviving “sanctuary state” laws that the Trump administration challenged
earlier this year.
“Free my anchor baby breeding unregistered
Democrats!” La Raza Hillaria Clinton
ENDORSED BY MEXICO, HISPANDERING HILLARIA CLINTON
VOWS THAT MEXICO WILL ELECT ALL FUTURE U.S. PRESIDENTS!
http://mexicanoccupation.blogspot.com/2018/07/la-raza-hillary-clinton-backs-mexican.html
VIVA LA RAZA SUPREMACY?
(DO A SEARCH FOR THE CLINTON’S LONG HISTORY WITH THE
MEXICAN FASCIST PARTY of LA RAZA “The Race” NOW CALLING ITSELF UNIDOSus.)
Who ultimately really
pays for all the true cost of all that "cheap" labor?
THE DEVASTATING COST
OF MEXICO’S WELFARE STATE IN AMERICA’S OPEN BORDERS
“The Democrats had abandoned their working-class base to
chase what they pretended was a racial group when what they were actually
chasing was the momentum of unlimited migration”. DANIEL GREENFIELD /
FRONT PAGE MAGAZINE
THE DEMOCRAT
PARTY’S WAR ON AMERICA’S LEGAL WORKERS, BORDERS AND LAWS as they build the LA
RAZA welfare state on our backs.
*
One in every eleven persons born in Mexico has gone to the U.S. The National Review reported that in 2014 $1.87 billion was spent on incarcerating illegal immigrant criminals….Now add hundreds of billions for welfare and remittances! MICHAEL BARGO, Jr…… for the AMERICAN THINKER.COM
One in every eleven persons born in Mexico has gone to the U.S. The National Review reported that in 2014 $1.87 billion was spent on incarcerating illegal immigrant criminals….Now add hundreds of billions for welfare and remittances! MICHAEL BARGO, Jr…… for the AMERICAN THINKER.COM
"Chairman of the DNC Keith Ellison was even
spotted wearing a shirt stating, "I
don't believe in borders" written in Spanish.
According to a new CBS news poll, 63 percent of Americans in competitive
congressional districts think those crossing illegally should be immediately
deported or arrested. This is undoubtedly contrary to the views
expressed by the Democratic Party.
Their endgame is open borders, which has become evident over
the last eight years. Don't for one second let them convince you
otherwise." Evan Berryhill Twitter
@EvBerryhill.
College-Grad Salaries Eroded
by Hidden Army of 1.5 Million Visa-Workers
Every
CEO in every company sees the business opportunity: Will I earn higher profits
by replacing my American staff with cheaper H-1B workers? The answer is an
obvious yes.
The
Washington-imposed economic policy of economic growth via mass-immigration
shifts wealth from young people towards older people by flooding the market with foreign labor. That process spikes profits and Wall Street values by cutting salaries for manual and skilled labor offered by
blue-collar and white-collar employees. The policy also drives up real estate prices, widens wealth-gaps, reduces high-tech investment, increases state and local tax burdens, hurts kids’ schools and college education, pushes Americans away from high-tech careers, and sidelines at least 5 million
marginalized Americans and their families, including many who are now struggling
with opioid addictions.
STARING IN THE FACE of
AMERICA’S UNRAVELING and the ROAD TO REVOLUTION
“It will more likely come on the heels of
economic dislocation and dwindling wealth to redistribute.”
"The
kind of people needed for violent change these days are living in
off-the-grid rural compounds,
or the “gangster paradise” where the businesses of drugs, guns, and
prostitution are much more lucrative than “transforming” America along Cuban
lines." BRUCE THORNTON
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