Chapter 18: Saving the American Dream for Zoomers and the rest of us
Your weekly excerpt from one of my books. This week: "The Hidden History of the American Dream"
Saving the American Dream for Zoomers and the rest of us
As I mentioned in the opening chapter of this book, when my Boomer generation was the same average age as the Millennial generation is today, back in 1990, our generation held 21.3% of the nation’s wealth. Louise and I shared in that wealth; although we were still in our 30s, in 1990 we owned a profitable small business (our fourth) and a nice home in suburban Atlanta.[ccxxxix]
Millennials today, in contrast, are about the same number of people as Boomers were in 1990 but hold only 4.6% of the nation’s wealth and, if they’re the same age I was in 1990, they’re most likely struggling to own a home, are deeply in debt, and find it nearly impossible to start a small business. [ccxl]
And the story for Zoomers is pretty much the same. As a Bank of America research report noted:
“Like the financial crisis in 2008 and 2009 for millennials, Covid will challenge and impede Gen Z’s career and earning potential.”
Nonetheless, Republicans are still at it because the project of taking back 80 years of wealth from the middle class on behalf of America’s billionaires has taken on a life of its own.
It’s not that they’re evil (although some clearly are): it’s that Reaganism and then Trump’s subsequent embrace of naked fascism unleashed forces that they couldn’t control.
Since five corrupt Republicans on the Supreme Court legalized political bribery in Bellotti and Citizens United — and thus legalized the handouts they themselves have been receiving from billionaires for decades — it’s going to take major and radical action to stop and then reverse the Reagan Revolution.
Rightwing billionaires are now pouring billions of often untraceable dollars into every election cycle to keep the gravy train on track, and that dark money goes to the GOP at a 9:1 ratio.
Much of it is coming from the fossil fuel industry and petro-billionaires, dedicated to supporting Republicans who will block any efforts to stop climate change. The momentum is still theirs and, in many ways, growing.
Biden has tried and done a lot: united Republican opposition, however, along with sellouts like Democratic senators Kyrsten Sinema and Joe Manchin, have defeated many of his efforts.
Still, I have a lot of hope.
So, what do we do?
An entire generation is coming up now — the Zoomers — who see clearly what’s going on, even though they haven’t lived through it. And those of us Boomers who saw every moment of it and understood what was going on (I was born the year Kirk published The Conservative Mind) are increasingly waking up and returning to their political activist 1960s roots.
They may be the Raging Grannies, but they’re getting more and more involved in electoral politics and get-out-the-vote efforts.
The climate crisis is opening the eyes of people who’ve been believing GOP lies about fossil fuels and carbon pollution for decades.
The criminalization of abortion has energized women in a way I don’t think we’ve seen since the 1960s.
Healthcare and Big Pharma ripoffs are pissing Americans off in ways guaranteed to produce a blowback.
Electoral dynamics are changing all across the nation.
The Fourth Turning is upon us, says Neil Howe, and we’re on the edge of a new progressive renaissance much like the 1930s. [ccxli]
If we can just get out enough votes to retake the House, hold the Senate and the White House, and get a few more states to flip like Michigan and Wisconsin have done, there’s considerable hope for the future of this nation.
The Zoomers may be able to lead a rebirth of the American Dream — if enough of us from all generations get involved.
Tag, you’re it.
Crazy. Rich. Fascists.
Occupy Wall Street did it for me. From there, my group of Boomers started working on voter registration. Now we are also waiting and watching for the demographic changes that will come to our red area. Some Zoomers and Millennials are taking over.
In between we fought (and won) a huge foreign fossil fuel scheme. This type of story is happening everywhere. The big projects come to smaller communities and promise them the moon and stars and then deliver pollution, housing crises, and a big boom during construction with the inevitable bust to follow. Worst of all, the jobs they promise turn into smoke and mirrors. They do not hire "local" people, because they need experts. And then here come the robots.......
In essence crazy, rich f-ers have united. They are giving us Project 2025, while they plan to control us during what they want to believe is the end time. Our military is being used and abused in this experiment. Time to point out how EXPENSIVE that is. Put it on a sign, write about it, and TEACH. Fight like Thom and Company. See you in the streets.
It’s sad. So sad! We are the world’s wealthiest country. We just increased taxes on and stripped benefits from the poor—all to feed the WEALTHY. Uncaringly ruthless Republicans, bought off by the WEALTHY, have an agenda of pain and suffering for the poor, the needy, the sinking middle class. For heaven’s sake, give heathcare, childcare, food assistance, and LIVING wages to everyone. Charge the total cost to the WEALTHY billionaires. They cannot be satisfied, and need their greedy asses kicked for this carnage. They are funding the ruthlessness; they are gouging and gorging. To what purpose is their $ billions? Hoarding alone. Outlaw this hoarding! They cannot spend it all, yet they fund tax cuts only for themselves. Sound about right to you? I made protest signs for your upcoming protests. Protesting is now critical for Occupied D.C. We must fill the streets! There is just enough time to get signs printed for your protest group. Fill the hands of the signless with signs…or hoagies. Where are your signs? It is time to post them so that others can use them. FreeDC!
https://hotbuttons.substack.com/p/sign-off-i-call-for-a-sign-off?r=3m1bs