That's the real answer, as to why Millennials are poor. Taxes are too high. Too many taxes. And we ain't seen anything yet. Because of overspending by all government, whether fed, state or local, there is a lot of servicing of debt load. Those trillions of dollars of debt must have the loan interest paid from general funds before what's left is wasted on anything else. So the bulk of tax collections goes toward servicing debt, and government is always seeking new taxes because what is left is not enough for their wish lists. Millennials are poor because of liberal over-taxing, will get poorer, but keep electing the liberal politicians who make it worse for them. Glad I'm old and will not have to worry much more, unlike Millennials who have a lot more worrying to do.
I had a job grossing around 5K every two weeks. The fed gov took 1500 right off the top. That didn’t include state taxes. Then you’ve got property taxes (you think you own your home, LOLOLOLOL). Then you’ve got personal property taxes on your car. Then you’ve got sales tax. Then I have to purchase insurance that I don’t need. Then there’s the gas tax. Then there’s the tolls to pay to drive on the roads that have been privatized by foreign corporations (I thought we already paid taxes to build those roads)? Don’t forget the cops that lay in wait to write you a dozen tickets for not following one of the voluminous laws on the books.
Is this really America?