The American Dream is fading, with little hope of revival for Millennials. A recent analysis of 30-year-olds’ current income shows that barely half are earning more than their parents did at a similar age—a stark contrast from 1970 when 92% could say they were already outpacing their parents. With current income distribution leaning towards the wealthy, reversing the trend “will be very difficult,” and may take a sustained growth of more than 6% yearly, adjusted for inflation. (The Wall Street Journal)
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