and no, you can't blame spending on lattes at Starbucks or smartphones to explain away the above. The country has adopted policies which have definitely made things tougher for all but the wealthiest.
For example:
What would happen if we radically slashed H1bs or imposed a hefty annual fee for each one such that it was MORE EXPENSIVE to hire a foreigner than it would be to train and hire an American? Corporate profits would decline slightly but lots of young Americans would get jobs and would get their feet on the career ladder who are not getting that now.
What would happen if we closed the border, deported tens of millions of illegal aliens and cut legal immigration? (Congress doubled it in 1990 from half a million to a million a year.....why?) That would greatly reduce demand for housing. Pushing the likes of Blackrock and Vanguard out of being able to buy residential real estate would lower the cost of houses further.
What would happen if we radically slashed administration at universities by about 75% back to where it was 40 or so years ago? College would get significantly cheaper.
What would happen if we slashed expensive and unnecessary regulation on businesses and imposed hefty tariffs on cheats like China? More companies would re-shore manufacturing creating good middle class jobs. Yes, the cost of some goods would go up but the benefits to social stability/cohesion and national security would far outweigh the costs IMO.
These are all choices the politicians have made. We could reverse course if we wanted to.
Why is your gauge college? You know that boomers for the most part boomers were not able to afford college. They went into trades, or the military (Vietnam). College for civilians did not become really popular until Gen X/Y.
You mention that working and middle class compensation has been stagnant since the early 70’s. Who do you think starting working those years, suffered through gas queues and 20% mortgage/interest rates? You think it was so easy for boomers, but mention some of the very hardships we suffered through.
Funny how it is that Gen Ys and the Gen Zs support the very policies you mention caused their downfall. Boomers don’t want illegals here. They want China to pay and give our own citizens a chance.
College is not the cure all you seem to think it is. Today’s industry moves at a much faster pace than colleges or universities can manage to keep up with. Many students are insufficiently prepared to handle the work in industries required of them. That this fact has not yet reached the masses is probably their biggest downfall. These Generation XYZers shouldn’t have to pay hundreds of thousands of dollars for an education that won’t help them obtain work.
There needs to be a system that combines the latest in education with practical work in industry. I know people used to talk about such a system — a combination practical education and apprenticeship/trade program. One where people could work, especially in technology, and acquire hands on experience. But instead, they decided to go with hiring H1bs and the Millenials (gen ys) and gen Zs go right along with it because they think it’s “fair.”
I’m certain boomers would support your push for slashing the number of foreigners and reducing regulations, but the ones most helped by those policies would have problems voting for them.