Many people don’t know how or why Americans can have such a massive wealthy inequality, I get question often about this. I’ve been discussing this for quite some time and the solutions I believe can reverse our current course of Inequality because if we don’t, we are in for a brutal future, but let’s not ignore the truth, it’s been happening for quite a while. We are in the sweet spot of a tipping point right now.

Societies across the globe have paid less and less attention on real strategic solutions to fix these issues. Implementing long term strategy takes a back seat to rather meaningless or undiplomatic ideologies too that often don’t make sense but do when you add short term focused greed. The bad thing about this lack of vision is that we end up in a hole and it can take a long time to get out, or a country’s society falls into either more poverty or chaos or both.

Such is the case with wealthy countries that are already prosperous and have robust business and corporate infrastructures. I’ve spent many years looking at the similarities and many are dealing with the two issues I advocate on, Ageism and Wage/Income Inequality. These two combined create an ever decreasing mass society in those countries, for example, in America we are seeing an erosion of the “non-multi-millionaire” upper, middle and lower income earning groups that make up between 80-90% of the American society – but again, this is  happening in other places too. The impacts are long term and impact full generations for decades starting at childhood, consider this statement that I can’t say in a better way from Kim Jae-heum from the Korea Times:

“Childhood poverty leads to lower chances of receiving a good education and finding a good job, resulting eventually in another round of poverty in adulthood. Contrary to this, children from affluent families have better chances of gaining a quality education with private tutoring, followed by decent jobs with high salaries and wealth in adulthood.

If you’ve been following my writing, you have read my articles on the Gig Economy. A Gig worker basically is a consultant that works the hours they want or are allotted to them and our culture is to praise this new style of economy.  I happen to be very against it because it doesn’t give people promotions, or benefits or a security of being a full time employee. Also, since Gig workers are not part of the company from a full time employee perspective they can often be left out of meetings, insight and information on where a company is headed – I know, I’ve been a gig worker and not by choice. Many companies also won’t let a gig worker work overtime or even the full 40 hours a week. Below is a real account for a person in Korea, and when you read it, put it into context within our country – because highly educated in America is above a bachelor’s degree.

“It was his dream to open a Japanese-style bar in a metropolis and he strived to achieve it by working day and night at several restaurants as a part-timer. However, the reality was far more challenging than he had expected. “Making a living as a part-timer in cities like Anyang is almost impossible, especially if you are not a highly educated person.” 

The article also states this interesting America-Korea correlation: “But Park did not expect to find such a large wage gap between university graduates and high school graduates and now he is confused about his future. Marriage isn’t even an idea he can entertain right now.”  

American Millennials! Does that sound similar to you? It’s statistically true that the Millennials are either holding off on buying a house to settle down and also considering putting off having children because they can’t afford it financially in some of the wealthiest parts of the country like San Francisco and Manhattan, even though these couples are highly educated and can be working in top technology companies.

The point of this article is this: Park’s case is one showing the reality of childhood poverty being an enormous obstacle to social mobility later in life. The point I’m trying to make for Americans is that while the wealth inequality grows in our country, you can see similarities of what happens in other countries that are not as wealthy.

There is no doubt that the wealthy in America can do as they please while the majority of Americans struggle – even when, for example, a couple is both making six figures but cost of living in many of our cities prevents folks from doing what they would normally have done for generations.

This is what Ageism does – ensures you’ll not have a good living in your final 1 to 2 decades before retirement – a very critical time to save money! This is what Income Equality does – ensures you have to put off having children of afford a home. Where does this leave your children and your future?

This is the American Dream, and if you haven’t been hit by Ageism or Wage Inequality, someone you know has or will be hit by it – guaranteed. Chances are excellent it’s in your future too.

There are ways to fix these issues though and it’s not too late – but mark my words, we are in a sweet spot of a tipping point.

The time to start caring about negative forces reversing the American Dream is NOW:



The article I cited: