Pew Report on Young-Old Wealth Gap is Misleading and Divisive; Could Fuel Intergenerational Class War
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The real story here is that younger families in the middle of the pile have fallen way behind, as those at the top have grabbed an ever-increasing share of the nation's income. As Dean Baker put it, “the ratio of the wealth of the top one percent to the rest of the population has risen by much more than that of people over 65 and those under age 35.”
The way these findings are being interpreted can only stoke young people's sense of resentment and divide the vast majority of Americans who are suffering through the same economic catastrophe. It can only feed the politics of grievance, which is ultimately just what the “granny-bashers” want.
Joshua Holland is an editor and senior writer at AlterNet. He is the author of The 15 Biggest Lies About the Economy: And Everything else the Right Doesn't Want You to Know About Taxes, Jobs and Corporate America . Drop him an email or follow him on Twitter.