One of the lead stories in the Christian Science Monitor chronicles the fall in income for younger working Americans.  In the past four years, median income for Americans under the age of 35 has fallen 8% after inflation!  For those under the age of 44, their wages have only fallen by 9%.  The problems range from fewer jobs and lower salaries to rising debt levels and the ever increasing need for families to have both partners working just to keep even.  Effects are especially apparent for lower skilled workers who have been hard hit by globalizaion.

Another issue raised by young Americans is the issue of generaltional fairness in taxation.  Capital gains taxes and taxes on un-earned income have dropped faster than income taxes paid on wages for the average American.  With this some people worry that they will never catch up.  If inflation is taken into account a majority of Americans are earning less than they did in 1970! 

Click here to read the story.  Thanks W (worst ever).

Posted on Sunday, February 26th, 2006 at 5:45 pm in National News.