Only 22% of under-30s believe in American dream
Only 22% of Americans under 30 believe the American dream still holds for them, reflecting a large generational shift toward disillusionment.
Snapshot · The Rest Is Politics: US
200. Trump’s Immigration Crackdown Will Backfire
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Jun 29, 2026
Where this was said
Wealth Tax, Monopolies and the Right Way to Fix Inequality
At 33:33 · chapter starts 29:20
Gavin Newsom's national wealth tax enters the discussion as a live fault-line in the Democratic Party. Scaramucci acknowledges the social-engineering impulse behind it — the system is wildly unfair and something must signal that — but argues the politics are suicidal. Americans already pay 50% income tax, sales tax, and property tax, keeping only about 34 cents of every dollar earned [1] — Katty Kay "Only 22% of under-30s believe in American dream: Only 22% of Americans under 30 believe the American dream still holds for them, reflecting…" 33:33 . Telling savers the government is in the 'confiscation business' will cost Democrats the election. The right model, he argues, is Teddy Roosevelt: break up trusts, defeat monopolies, splinter special-interest groups, and unplug Citizens United money from the system. Katty Kay, however, notes a generational shift: only 22% of under-30 Americans believe the American dream holds for them. They are not getting the returns the system promised, and their frustration is creating an opening — for the first time in 250 years — for something that looks like socialism in American politics. Scaramucci warns this 'wreck it' tendency never ends well.
AT&T broken up in mid-1980s
AT&T, the largest monopoly in US history, was broken up in the mid-1980s by Judge Harold Greene, which unlocked the technology that later enabled companies like Netflix and Facebook.
Breaking Up AT&T Unlocked the Internet
AT&T, the largest monopoly in American history, was sitting on the technology that created Netflix, Facebook, and the entire internet. It had no incentive to release it while charging $4 a minute for long-distance calls. Judge Harold Greene's 1984 breakup freed it all. The lesson: monopolies kill innovation, and today's tech giants are doing the same thing.
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