"Three Ways the Rich and Powerful Have Cheated Young Americans" PAUL BUCCHEIT FOR BUZZFLASH

[applegrove]

Three Ways the Rich and Powerful Have Cheated Young Americans

PAUL BUCCHEIT FOR BUZZFLASH AT TRUTHOUT

http://blog.buzzflash.com/node/13593

"SNIP.................................

1. The Great WEALTH Transfer

-- 18- to 35-year-olds: Your median net worth has dropped 68% since 1984. It's now less than $4,000.

-- The Richest 1%: They tripled their share of income between 1980 and 2006, then took 93% of all the new income in the first year after the 2008 recession. Their median net worth is now over $5,000,000.


2. The Lack of JOBS: No one's hiring, so you have to "create your own job."

This from Michael Barone of the Washington Examiner: "The good news is that information technology provides the iPod/Facebook generation with the means to find work and create careers that build on their own personal talents and interests...creating your own career will produce a stronger sense of satisfaction and fulfillment."

Sounds easy, doesn't it? Just grab your iPhone, open up Facebook, and create your own job. Become an entrepreneur, just like the richest Americans. Except that the richest Americans aren't entrepreneurs. Based on U.S. tax return data, only 3% of the wealthiest 130,000 Americans are entrepreneurs. Most are in management or finance.

......................................SNIP"