Young people have it tougher these days

My father worked at tI he shipyard during WWII.  He earned a little more than $400.00 per month.  My mother never worked.  His income was enough to raise 3 kids, buy a house and a car (Chevy Suburban), buy war bonds and put away money each month in savings.  We took vacations to Southern Oregon and Southern California and each year my father and his family went on a two week deer hunting trip.  He did not finish high school.  My son today and his wife both must work to pay on a small house, they have two kids and must budget all the time.  They take may a one week vacation every few years.  They both graduated from college and had student loans to pay back over the years.  No way will they ever be able to afford more than the house they have now.  I worry about the future for my grandchildren even with college educations. 

Outsourcing of jobs overseas, the cuts in income to people who DO still have a job here in America and the continuing pressure to cut everyone's wages and benefits are starting to show.  This is being played out in Wisconsin as we speak. 

 

This is what we are coming to in America.  A nation in a race to the bottom of the wage scale for many people in the middle class. 

 

But, everyone wants their Walmart prices for things that are NOT made here in America.

 

I too, fear for future generations if we continue to not invest in jobs here in America and continue to not produce anything here and buy it all from oversea suppliers.

 

 

and the sad part is that --- the rich are getting richer, and poor are getting poorer, ---- go figure

say what?  outline how much better it was in 1970 then finish with basically a "don't fret about it" remark? 

 

the backslide simply indicates how much we're slid and likely indicates how much MORE we'll slide in another 40 years. 

 

This isn't meant as an excuse for people of my generation not to live up to their potential. Instead, it's an encouragement for people not to obsess over comparing the success of young people today with the things young people had in the past. It isn't really a valid comparison.

 

Rather than focusing on results, look for signs of progress and for the status of the journey as a whole.

Good to see the reality expressed in concrete financial terms for once.

 

All I know is I went to a major State-supported University in the early 1980's as an in-state student.  Under the current tuition & fee schedule, it now costs more to go to the same school for one semester than for the 4 years I was there (not including room & board).

 

And they are going to increase everything this fall because the legislature is going to cut the funding the State provides, again.

It is nice to read an article that simply articulates as much of an apples to apples comparison as possible when trying to analyze life's options.

 

I have more simple comforts such as centralized heat and appliances than my grandparents, their life expectancy was quite good, 96 years for the ones that lived through the 1970's.  They had more free time, but they didn't have the entertainment options or computers to "simplify" choices.  But housing costs and outsourcing has stymied retirement indefinitely.  My grandparents left property to my parents and they sold it to retire and there won't be anything left.  I'm not whining just trying to work out my options.  Pensions are very few & far between, I have a small business and supporting payroll just about wiped us out.  Everyone wants a guarantee and that's not realistic.  I'm not bored.

So if I earn $40K today and in 1970 they earned 18% more, that means I would have a spare $600/mo to play with in today's money.  Imagine that.  No wonder they did so many drugs back then, they could afford it.

Things are different now, but not more difficult.  I grew up in the 70s/80s.  My mom worked like a dog as a waitress at the holiday inn to buy a tiny house and keep food on the table -but she did it and it was a matter of priorities.  We had basics and that's it.  Vacation?  Whats that?  new clothes?  Maybe for Christmas.  Go out to eat?  My mom would have died laughing if we kids had asked.  Child support?  Are you kidding me?

 

Then I borrowed tons and tons of money for school--state school, not private.  After grad school, my multiple loan payments were for 15 and 20 years but I paid them off in 10 because after my basics were paid (mortgage, utilities and food basically) every dollar, I mean EVERY dollar went toward those loans.   Yeah 10 years was a long time, but it was half of the time I might have paid and in the end I saved on the interest  which was a whopping 9-10% for student loans back then.  I learned from how my mom managed in hard times. 

 

Then after finding I didn't die without a new car every couple years, a bigger house, the newest cell phone and the biggest cable package and with all student loans paid off, I was able to actually live AND save.     Now I can live comfortably but modestly-I don't have the newest, but I do have some stuff like a cell phone and internet.  Yes people, these things are luxuries not necessities.  If you view them that way you will see you aren't really as bad off as you think.  I still use everything to the last scrap, drop and fiber just like in the lean days.  I couldn't wait to stop "acting poor"  but now when that time is here, I can't help it because being wasteful is just dumb no matter what you have.

 

BTW, I was a high school drop out, had 2 kids by 19, and just scraped and scrapped little by little up the ladder.  Got some lucky breaks, also had to manage a few bad breaks.   There are probably more of both to come.  As for mom...she now has several totally paid for income producing properties , a nice nest egg , and can still be overjoyed at a dinner at a nice restaurant. 

 

 

What part of being screwed don't you understand?  Tax the "producers" I'm kidding.  Tax the corporations to the max.  You won't have to tax the mega rich and there won't be as many when they pay the taxes that corporations don't pay and put them in their pockets a profit bonus.  Incent business to create more jobs by not allowing them the profit margins if they are not serving the country (they are not).  More jobs is more taxes and the bonus is the rich will be pared down (they'll still be fabulously rich) and they will not be the threat to our economy and basic rights that they are at present.  I'll pay 50% if the wealthy will.  Of course, my 50% wont amount to anything since I'm the problem.  Yes, I'm taking responsibility for the woes of our country.  It was me, the working poor and the union protected.  We did it.  It didn't have anything to do with obscene profits and speculators feasting on the blood of the innocents.  No it was me and my ilk, the struggling low income people. 

Listen to the super-old song 'the window washer man' sung by the Mills Brothers.  That would be great to be able to make a living washing windows.