It's not just government redistribution giving Millennials a boost. By the time they hit their mid 30s, their market income was well ahead of Gen X or the Boomers (and yes, this is adjusted for the cost of living). They had caught up in wealth, too.
As wealth concentrates, billionaire political spending rises higher, securing policy outcomes that further concentrate wealth. The chaser is inflation, which transfers still more wealth from earners, whose purchasing power erodes, to owners, who are insulated.
6mo ago
Underscored — save the words that stop you in your tracks.
