Setbacks on America’s Youth from Growing Inequality by, Caitlyn Reynolds | November 22, 2014
Conditions of today’s economy and growing division between the rich and the poor leave many younger generations cynical, pessimistic, and feeling insignificant. inventor Steve Gibbs once said “Perhaps the cruelest joke played on our generation is the general belief that if you went to college, you’ll get a job and be upwardly mobile”. Today’s youth is pressured into the idea that becoming a professional student directly after high school will guarantee a successful career. Financial aid for such education is derived from the total household income, before taxes. Which is not reasonable for most families because of the unbelievably high tax rate for lowermiddle class Americans trying to achieve higher education for better income. Leaving the lowermiddle class with barely enough money to sustain their families throughout the week. Underlying pessimism in younger generations is due to the growth of inequality and the widening gap of income between the 1% and the 99%.
With the inequality of income plummeting over the last 60 years, it has directly affected the rate of obesity, poverty, mental illness, and the abandonment of education to support oneself/family. The abandonment of education then causes the working class to find lowincome jobs typically without benefits since most decent paying jobs require some form of higher education. But as the 99%, we pay a majority of the taxes the 1%ers should be paying, considering the poorest 20% of households pay 25% income tax while the rich pay less than 20%. as the gap of income tax rate between the rich and the poor increases annually, many people today will spend almost their entire lives working just to pay off the amount of debt they are already in. Often this debt is caused by failure to provide for one’s self while trying to earn a ...
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