Quote:
Originally Posted by Honus
Congratulations on your success and good luck in the future.
What you say makes sense, but is it reasonable to expect young people whose parents, grandparents, peers, and role models are all a bunch of losers to all of a sudden figure out how to succeed? I'm sure some will break out of that hole, but they will be the exception. Of course, that problem goes back farther than the current bad economy and budget problems. The more immediate issue is why people who would have been middle class a generation or two ago are busting their rear ends and getting nowhere. With those people we are heading backwards.
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The affluent middle class we all knew and loved and grew up with was an anomaly. It was largely made possible by aggressive taxation on wealth (top rate was 90+% back in the 1960s) and lack of international competition. As we all know, those factors have changed permanently. People who expect to get ahead doing what their middle class parents did will be very disappointed.
Still the basic rule of capitalism applies: Find a need and fill it. Folks will just have to be more creative and resourceful in order to find success.