Only half of 30-year-old Americans make more than their parents. In 1970 92% of 30-year-old Americans made more than their parents.
This has become the new-normal that millennial have been taught to accept.
Barely half of 30-year-olds earn more than their parents did at a similar age, a research team found, an enormous decline from the early 1970s when the incomes of nearly all offspring outpaced their parents. Even rapid economic growth won’t do much to reverse the trend.
Economists and sociologists from Stanford, Harvard and the University of California set out to measure the strength of what they define as the American Dream, and found the dream was fading.