Rich Boomer, Poor Boomer

If there is one thing worse than a Baby Boomer, it's a rich Baby Boomer.  Since the Boomers have become adults and took over the business world, the middle class has shrunk considerably.  According to Bruce Judson, a Senior Faculty Fellow at the Yale School of Management, “In 2007, the percent of total income received by the top 10% of families was 49.74%, or effectively one-half of the nation’s total. This compares to 1980, when the top 10% received 34.63%, or about one-third of all income.”

Another even more disturbing statistic compiled by Judson states that "the top 5% of households grew from $134,800 in 1980 to $220,100 in 2007; an increase of 63%. In contrast, over this 27 year period, the average real household income of the bottom 90% of families increased from $29,800 to $32,400; less than 9%.  The real income among the top 5% grew at seven times the rate of income of the bottom 90% (63% as compared to less than 9%), an extraordinary difference of 600%."

These numbers should surprise no one who studies the Baby Boom generation.  Self absorption and high self worth lead to selfish behavior.  For the same reasons the rich Boomers used their connections and college deferments to get out of serving in Vietnam, they, in their middle life, continued to look out for number one. 

In an April, 2010 poll, the New York Times discovered that the recent Tea Party movement was made up of mostly wealthy and educated Baby Boomers.  While it appears that Tea Party members reside in rural areas, the reality is that the movement is more about rich Boomers being afraid of a President who may increase their taxes and take some of their precious money away. 

As the rich Boomers in the Tea Party movement scream that President Obama is a socialist, what they are really saying is that they are not going to spend one dime of their money to benefit the greater good of the country. 

Didn't the Boomers' civic oriented parents teach their kids anything about duty and service?