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Fox & Friends Weekend was right to flag this as a national story: new data shows baby boomers still hold an enormous share of America’s wealth, and that reality matters for every hardworking family. The numbers aren’t symbolic — they’re decisive — and they show who actually owns the country’s financial foundation after decades of free enterprise and risk-taking.
Make no mistake: this is not some leftwing myth about “concentrated wealth” in the abstract — boomers legitimately built this fortune through entrepreneurship, homeownership, and decades in the workforce while younger generations were saddled with rising costs and broken policy. Recent estimates put boomer household net worth in the tens of trillions, representing roughly half of the nation’s household wealth and underscoring that this is generational capital, not just paper headlines.
Contrast that with the reality for millennials and Gen Z — a sliver of total wealth and far less equity in stocks and homes despite being a larger share of the population. That gap didn’t appear by accident; it’s the consequence of policy failures, exploding government debt, higher education inflation, and a housing market that shut out first-time buyers. The facts should shame the politicians who promise equality while making opportunity rarer.
Why does this matter politically? Because the control of capital shapes policy, markets, and the next generation’s chances. Much of boomer wealth sits in real estate and long-held equities — assets that benefited from decades of stable, growth-oriented policies and the rule of law. Those assets didn’t come from government giveaways; they came from saving, investing, and building businesses that employed millions.
We are also staring down the so-called Great Wealth Transfer, a historic handoff that could shift trillions to younger Americans over the coming decades — a process Cerulli and other analysts put in the tens of trillions by mid-century. Conservatives should welcome responsible intergenerational transfers, but we must be vigilant: Washington will see this as an invitation to raise taxes and redistribute what hardworking families leave to their children. Preserve the family home and preserve incentives to save; that should be our rallying cry.
The right response is simple and patriotic: defend property rights, resist punitive wealth taxes, and push pro-growth policies that make saving and homeownership attainable again. Instead of envy-driven rhetoric, Republican leaders should champion tax relief, reduce regulatory burdens, and unleash private-sector opportunity so every generation can build wealth the way boomers did. Hard work, not handouts, is what built America and it’s what will rebuild the American dream.
To younger Americans watching this unfold: study the market, invest prudently, buy real property when you can, and demand policies that expand opportunity rather than punish success. The data are a wake-up call — not to surrender, but to fight for the principles that produce enduring prosperity for families across every generation.
