This
headline
from CBS News
was attention grabbing this morning: “Millennials are Falling
Out of the US Middle Class.”
The article by Aimee Picchi was based in part on a new
report from the Organization for Economic Cooperation and Development that
showed, “The share of middle-class citizens is falling across developed
nations, slipping from 64 percent of global households in the mid-1980s to 61
percent in the mid-2010’s … Younger generations are bearing the brunt of the
middle-class decline, with each subsequent generation less likely to achieve
financial stability compared with the (baby) boomers.”
The reasons given for this in the report are: Automation
that has cut into job availability, rising lifestyle costs that hasn’t kept up
with income growth, and spending more than earning that isn’t necessarily tied
to disposable income.
What “wasn’t” mentioned in the report is perhaps this
reason: There is a finite amount of wealth in the world, just as there is a
finite amount of water and other resources. One just can’t keep on demanding
higher wages without seeing those higher labor costs by employers being passed
on to consumers in one way or another, or for employers seeing more efficient
ways to do business. This cycle just continues to spiral upward and out of control.
Picchi added comments from Stefano Scarpetta, director for
employment, labor and social affairs at the OECD, in her article. When asked
what can be done to help strengthen the middle class, Scarpetta said that tax
policies “that ensure the richest citizens pay their fair share of taxes” could
help.
Yep, that sure doesn’t come as a surprise, does it? That
statement makes this OECD report appear as just another excuse for a more
Socialistic society, and we’ve seen how well Socialism has worked, haven’t we?
No, creating a stronger middle class can’t be done through
taxation, for enforcing this will eventually lead to government totalitarianism, and that
doesn’t work. You can’t expect workers to not continue to demand for more, or
for employers to continue to find ways to keep more of what they get – that’s
just human nature in this fallen world.
The solution comes through seeking contentment not from this
world, but from the Creator through putting faith in the Lord Jesus Christ and
what He stands for. That’s not a popular solution, but it’s the only one.
Thanks!
