Wealth Gap Between Generations Widening

Old Americans are 47 times richer than young – Nov. 7, 2011.

Older generations not only have had more time to save but the condition under which they grew up allowed them to be better off than they offspring.

In other words, our children will not be better off than we are – I am one of the older folk.

A lot has to do with the reforms to the tax codes, wage stagnation, the decline of unions and blue collar work, and globalization.