According to the central bank, those born between 1981 and 1996, better known as Millennials, control only 4.6% of the wealth in the country even though they make up the majority of the workforce, with around 72 million people.
While it is not unusual for younger people to accumulate
Copy pasted from another discussion on the same subject:
Good news, that’s the real trickle down economics, inheritances!
But on a more serious note, it’s not that good a comparison, what we need to check is what % of the wealth the previous generations controlled at this point in their history (when the generation was in its mid twenties to early forties) because they too were the biggest workforce without owning most of the wealth, that’s just how things go, you accumulate wealth over time, they have decades ahead of us. They surely owned more than we do now, but it’s certainly not as big a difference.
In the end what I’m seeing is just another piece to divide those at the bottom so they don’t pay attention to the people that truly own a disproportionate amount, like Zuckerberg that owns 2% of the millennial’s wealth. This guy is 0.000000003% of US’s population and owns close to 0.1% of its population’s wealth.
You shouldn’t be down-voted. You’re not contradicting the argument that there’s serious income inequality and that there’s a general component. You’re just adding nuance.
I wasn’t in the other discussion, kind of weird that I am here, but whatever 🤷 maybe we’ve got a billionaire with us in the room 🤔