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Tweeter Goes Viral With 200K Likes For Pointing Out How Millennials Ended Up Being The Poorest Generation

Robertas Lisickis
BoredPanda staff Not too long ago, Bored Panda talked about one of the major difficulties millennials have been going through in recent times-how it's hard for them to understand their own age. Sure, it's still quite a unique generation, but one whose problems don't end at their confusion with age. Dan Price, the CEO who slashed his million-dollar paycheck to divide it up among all of his employees so that they could earn a $70,000 annual minimum, has recently tweeted another issue that's a sad reality when it comes to millennials. More Info: Twitter

Millennials are often a point of conversation among many and this time around it s nothing good

Image credits: Pedro Ribeiro Simõesu Meet Dan Price, the founder and CEO of Gravity Payments (a credit card processing and financial services company), or better known as the guy who cut his million-dollar annual salary and divided it up among his numerous employees, so that they could make at least $70,000 a year. He's in the news again-albeit for much less drastic things, but things that are still quite important. Some days ago, he tweeted about how millennials are, unfortunately, the poorest generation at this moment.

Gravity Payments CEO Dan Price pointed out that Millennials are the poorest generation in the US

Image credits: DanPriceSeattle According to Price, millennials, who today can be as old as 41, hold just 4.8% of all wealth. In contrast, Gen X were estimated to control 9% of wealth at that same age, with baby boomers taking the cake at 21% when they were 40. He concluded that today's largest and most educated generation in history ended up in a position where it's one of the poorest in history. Oh, and he cited his his sources.

Price s tweet sparked a debate among many with some attempting to explain why and how

Image credits: MrCellophane121 Image credits: tandymonium Image credits: TantumVero This in turn has sparked a huge discussion on multiple levels among tweeters regarding the issue. So much, in fact, that Price's tweet alone garnered nearly 44,000 retweets with over 211,000 likes. A group of people have attempted to explain this. Some said that education, or even hard work, doesn't necessarily correlate with wealth and success. Others blamed it on the massively inflated assets that the baby boomers have managed to accumulate. Image credits: PetraLockhart8 Image credits: mybironas2 Which is another issue people were pointing at. They were blaming baby boomers on being the Locust Generation: i.e., like locusts, they consume and destroy all of the resources, leaving nothing for future generations. And Gen X can survive on scraps, but that just means there's even less for those further down the line. Image credits: DanPriceSeattle Image credits: DanPriceSeattle Image credits: DanPriceSeattle Others were arguing the other side-millennials want things too fast and aren't willing to work in the long run, and turned to that classic boomer tactic of saying how they never complained. There were also people saying that this will change in the next few years, or just blatantly saying that millennials are just doing it wrong. Whatever it is.

There was more than one side to this debate with some supporting and others arguing against it

Image credits: theanimatorchic

One tweeter even shared some stats regarding education

Image credits: thestarkiller1 Image credits: colinrwarner Image credits: Darth_Wooper According to Truth Or Fiction?, what he says is, sadly, true. This is based on Federal Reserve and other data from 1989 through 2020. It also specified that 2020 Q3 data translated 4.6% to $5.19 trillion, compared to the 4 times greater amounts the boomers had.

The tweet got over 211k likes with over 44k retweets and a bunch of people talking

Image credits: greylightcap Image credits: jayus005 Image credits: whambamtoejam Image credits: PhillyJoeD Image credits: dwalz23 Image credits: joekampf Image credits: Winsharp1 Image credits: Industry3D You can check out the tweet and the succeeding debates here. But before you go, do you feel like debating this? Let us know your thoughts about all of this in the comment section below! Anyone can write on Bored Panda. Start writing! Follow Bored Panda on Google News! Follow us on Flipboard.com/@boredpanda! Share on Facebook Robertas Lisickis Follow Unfollow Robertas Lisickis Author, BoredPanda staff Robertas, nicknamed the Comma Inquisitor by friends, is a Bored Panda writer and content creator. After his studies at LCC International University, where he got a BA in English Language and Literature, Robertas went on to do freelance teaching, translation, and copywriting work, primarily specializing in IT. He spent nearly three years writing about all things Wi-Fi, eventually being picked up by Bored Panda. Whenever there’s free time, he spends it playing Gwent, or hosting Dungeons & Dragons sessions for his mostly chaotic neutral team. Read more » Get the latest inspiring stories via our awesome iOS app! Download Bored Panda app! You May Like "Europeans, What Do You Imagine Life In The United States To Be Like?" 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Millennials (and some Gen-X) are going to inherit significant property wealth from their boomer parents, which is only going to ENTRENCH existing social classes. In countries with hard regional inequalities its also going to create huge economic disparities. In the UK property prices have increased at wildly different rates. I stand to inherit a house in outer London that will be worth close to £1million. My wife will inherit one in rural Northern England that will be worth £120,000. I will be a millionaire for no other reason than where my boomer parents chose to buy their home 40years ago. Imagine the differing life chances someone born into those different circumstances will have. Social mobility will stop dead. 22 22points reply Leo Domitrix Leo Domitrix Community Member • points posts comments upvotes FollowUnfollow 1 year ago LOL. my parents are pre-Boomers, and their proeprty is paying for their funerals/old age healthcare b/c we have crap for national health care in the US. What am I inheriting? Photo albums. Welcome to "the land of the free and home of the economic enslaved".... UGH 15 15points reply Load More Replies... Abhinc Abhinc Community Member • points posts comments upvotes FollowUnfollow 1 year ago I know i already posted that comment but people really need to now and realize the sad truth !! The federal minimum wage of $7.25 is worth $2 less today than it was in 1968 when adjusted for inflation. Today, the minimum wage, which hasn’t increased since 2009, falls short of a living wage. A full-time worker would need to earn $11.06 an hour to keep a family of four out of poverty. Over the past 50 years, the minimum wage has seen little to no growth as worker productivity has surged. In fact, if the minimum wage kept pace with increases in worker productivity, it would now stand at $21.72 per hour. There really is something very wrong !!! 22 22points reply FrancesCat FrancesCat Community Member • points posts comments upvotes FollowUnfollow 1 year ago GenX here. No one talks about this, but technology plays a massive part in poverty and wealth inequality. Until the late 90s, I didn't have a home computer or mobile phone and survived perfectly well. (I had the same land-line phone for 20+ years!) Beginning around 98-99, I was expected to suddenly pay a monthly internet bill, monthly cell phone bill (on top of land line), constantly pay to upgrade computer programs, buy a new computer every few years (especially in the early years), and replace my cell phone every two years. These expenses seemingly came out of nowhere, were mandatory to succeed in life, and put me in massive credit card debt for the first time. At the same time, schools had to adapt, and tuition skyrocketed. The media company I worked for had to hire "computer people," causing my salary to flatline for years as they struggled to adapt to a changing world. Technology killed upward mobility. And it's made life really dull. 13 13points reply Load More Replies... CeeJay CeeJay Community Member • points posts comments upvotes FollowUnfollow 1 year ago I studied computer science "that's what it called" in 2000 I thought it was gonna be amazing! But it turned out to be a narcissistic cesspool of s**t! "Money and wealth goes to money" everything else goes to s**t!. I remember listening to music using Pascal thinking I was cool! Never knew it would help lead up to the vile shitwads 20 years later. All the best! 1 1point reply Anthony Jessie Anthony Jessie Community Member • points posts comments upvotes FollowUnfollow 1 year ago I'm right there with you, I went to college for "computer science" around the mid 2000s...I wanted to become a computer repair tech...learn how they work, rebuild/build etc...It was a total joke, I was told a bunch of BS to get into the door, then I needed a job and all they could offer was part time at UPS sorting...how could I, living in California...afford a car, home and go to school on 4hrs a week? I left because I had to support myself and school wasn't paying me...plus I was learning help desk n office n crap? that I had no interests in.. 0 0points reply Chris Hill Chris Hill Community Member • points posts comments upvotes FollowUnfollow 1 year ago I think that is the biggest change is the buying power of the dollar coupled with the nature of todays employment/employer structure. There was a time where one person could work a non-skilled job and support a family and purchase a home, car, etc and live a comfortable middle class life. There were more employers where a worker would stay 30+ years and retire with a nice retirement income and investments from contributing retirement accounts. Just a few decades ago the avg CEO/worker pay ratio was from 10-30:1, it has ballooned to anywhere from 300:1 to almost infinity:1 7 7points reply Wilf Wilf Community Member • points posts comments upvotes FollowUnfollow 1 year ago The great resentment I feel as a millennial is that we played by the rules, but it always feels that the rules change. Get educated, work, save- that was the formula for success. That was your ticket to a house, stability, a family. It worked for the boomers- my father got a degree, trained for a professional qualification, got married, bought his house in outer London aged 25 and started his family at 27. He was never made redundant in 40 years of work. In contrast I also got a degree, also got the (same!) professional qualification, but then spent 12 years renting a flat that at times cost me half my monthly income, had to work 8 jobs in 9 years (being made redundant 3 times), saved £45,000 deposit for a 2-bed house that cost over £500,000 nowhere close to where I wanted to live that I will be paying the mortgage on until I'm 72. I didn't buy until I was 35. I finally felt stable enough to start my family last year... aged 36. 15 15points reply Ozacoter Ozacoter Community Member • points posts comments upvotes 1 year ago Same. I spent all my youth worrying about grades and studying. Then university, trying not only to get good grades but also internships to "gain experience". All to go out to the real world and seeing that they didnt hire me even as a cleaning lady. Most of my friends have minimum 2 masters and are minimum biligual and most took years to find the lowest entry jobs. I am 30 and none of us can buy property, barely can buy a cheap car and none of us can afford having kids. 11 11points reply Load More Replies... Annamagelic Annamagelic Community Member • points posts comments upvotes FollowUnfollow 1 year ago I agree. My husband and I are 39 &41. We are the lucky ones. clinging to a middle class life mostly due to advantages our parents were able to give. Grew up in a good school district, helped us pay for college, ect. Meanwhile our older boomer parents were first generation college graduates, and our grandparents ranged from working class to abject poverty when they were young, It feels like all that social mobility has crested and we will never reach the stability of our parents, much less be able to help our kids. 4 4points reply elStiJneriNO elStiJneriNO Community Member • points posts comments upvotes FollowUnfollow 1 year ago hehe same here. feels like i started that family (also last year) 10 year later than my dad. 3 3points reply Natalie Kudryashova Natalie Kudryashova Community Member • points posts comments upvotes FollowUnfollow 1 year ago That’s life though. Rules have always changed and always will as conditions change and society evolves. 0 0points reply Load More Comments POST Wilf Wilf Community Member • points posts comments upvotes FollowUnfollow 1 year ago The issue isn't wealth, it's the fact that boomers have basically frozen social mobility. Millennials (and some Gen-X) are going to inherit significant property wealth from their boomer parents, which is only going to ENTRENCH existing social classes. In countries with hard regional inequalities its also going to create huge economic disparities. In the UK property prices have increased at wildly different rates. I stand to inherit a house in outer London that will be worth close to £1million. My wife will inherit one in rural Northern England that will be worth £120,000. I will be a millionaire for no other reason than where my boomer parents chose to buy their home 40years ago. Imagine the differing life chances someone born into those different circumstances will have. Social mobility will stop dead. 22 22points reply Leo Domitrix Leo Domitrix Community Member • points posts comments upvotes FollowUnfollow 1 year ago LOL. my parents are pre-Boomers, and their proeprty is paying for their funerals/old age healthcare b/c we have crap for national health care in the US. What am I inheriting? Photo albums. Welcome to "the land of the free and home of the economic enslaved".... UGH 15 15points reply Load More Replies... Abhinc Abhinc Community Member • points posts comments upvotes FollowUnfollow 1 year ago I know i already posted that comment but people really need to now and realize the sad truth !! The federal minimum wage of $7.25 is worth $2 less today than it was in 1968 when adjusted for inflation. Today, the minimum wage, which hasn’t increased since 2009, falls short of a living wage. A full-time worker would need to earn $11.06 an hour to keep a family of four out of poverty. Over the past 50 years, the minimum wage has seen little to no growth as worker productivity has surged. In fact, if the minimum wage kept pace with increases in worker productivity, it would now stand at $21.72 per hour. There really is something very wrong !!! 22 22points reply FrancesCat FrancesCat Community Member • points posts comments upvotes FollowUnfollow 1 year ago GenX here. No one talks about this, but technology plays a massive part in poverty and wealth inequality. Until the late 90s, I didn't have a home computer or mobile phone and survived perfectly well. (I had the same land-line phone for 20+ years!) Beginning around 98-99, I was expected to suddenly pay a monthly internet bill, monthly cell phone bill (on top of land line), constantly pay to upgrade computer programs, buy a new computer every few years (especially in the early years), and replace my cell phone every two years. These expenses seemingly came out of nowhere, were mandatory to succeed in life, and put me in massive credit card debt for the first time. At the same time, schools had to adapt, and tuition skyrocketed. The media company I worked for had to hire "computer people," causing my salary to flatline for years as they struggled to adapt to a changing world. Technology killed upward mobility. And it's made life really dull. 13 13points reply Load More Replies... CeeJay CeeJay Community Member • points posts comments upvotes FollowUnfollow 1 year ago I studied computer science "that's what it called" in 2000 I thought it was gonna be amazing! But it turned out to be a narcissistic cesspool of s**t! "Money and wealth goes to money" everything else goes to s**t!. I remember listening to music using Pascal thinking I was cool! Never knew it would help lead up to the vile shitwads 20 years later. All the best! 1 1point reply Anthony Jessie Anthony Jessie Community Member • points posts comments upvotes FollowUnfollow 1 year ago I'm right there with you, I went to college for "computer science" around the mid 2000s...I wanted to become a computer repair tech...learn how they work, rebuild/build etc...It was a total joke, I was told a bunch of BS to get into the door, then I needed a job and all they could offer was part time at UPS sorting...how could I, living in California...afford a car, home and go to school on 4hrs a week? I left because I had to support myself and school wasn't paying me...plus I was learning help desk n office n crap? that I had no interests in.. 0 0points reply Chris Hill Chris Hill Community Member • points posts comments upvotes FollowUnfollow 1 year ago I think that is the biggest change is the buying power of the dollar coupled with the nature of todays employment/employer structure. There was a time where one person could work a non-skilled job and support a family and purchase a home, car, etc and live a comfortable middle class life. There were more employers where a worker would stay 30+ years and retire with a nice retirement income and investments from contributing retirement accounts. Just a few decades ago the avg CEO/worker pay ratio was from 10-30:1, it has ballooned to anywhere from 300:1 to almost infinity:1 7 7points reply Wilf Wilf Community Member • points posts comments upvotes FollowUnfollow 1 year ago The great resentment I feel as a millennial is that we played by the rules, but it always feels that the rules change. Get educated, work, save- that was the formula for success. That was your ticket to a house, stability, a family. It worked for the boomers- my father got a degree, trained for a professional qualification, got married, bought his house in outer London aged 25 and started his family at 27. He was never made redundant in 40 years of work. In contrast I also got a degree, also got the (same!) professional qualification, but then spent 12 years renting a flat that at times cost me half my monthly income, had to work 8 jobs in 9 years (being made redundant 3 times), saved £45,000 deposit for a 2-bed house that cost over £500,000 nowhere close to where I wanted to live that I will be paying the mortgage on until I'm 72. I didn't buy until I was 35. I finally felt stable enough to start my family last year... aged 36. 15 15points reply Ozacoter Ozacoter Community Member • points posts comments upvotes 1 year ago Same. I spent all my youth worrying about grades and studying. Then university, trying not only to get good grades but also internships to "gain experience". All to go out to the real world and seeing that they didnt hire me even as a cleaning lady. Most of my friends have minimum 2 masters and are minimum biligual and most took years to find the lowest entry jobs. I am 30 and none of us can buy property, barely can buy a cheap car and none of us can afford having kids. 11 11points reply Load More Replies... Annamagelic Annamagelic Community Member • points posts comments upvotes FollowUnfollow 1 year ago I agree. My husband and I are 39 &41. We are the lucky ones. clinging to a middle class life mostly due to advantages our parents were able to give. Grew up in a good school district, helped us pay for college, ect. Meanwhile our older boomer parents were first generation college graduates, and our grandparents ranged from working class to abject poverty when they were young, It feels like all that social mobility has crested and we will never reach the stability of our parents, much less be able to help our kids. 4 4points reply elStiJneriNO elStiJneriNO Community Member • points posts comments upvotes FollowUnfollow 1 year ago hehe same here. feels like i started that family (also last year) 10 year later than my dad. 3 3points reply Natalie Kudryashova Natalie Kudryashova Community Member • points posts comments upvotes FollowUnfollow 1 year ago That’s life though. Rules have always changed and always will as conditions change and society evolves. 0 0points reply Load More Comments Popular on Bored Panda I Used AI To See What These 23 Popular Cartoon Characters Would Look Like In Real Life 30 Y.O. 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