Young Americans face a bleak tax future as a result of a wealth shift

Alainta Alcin has heard about the huge transfer of wealth from baby boomers to their millennial children that is underway — a move that has been called the largest shift of assets in history. But Alcin, an analyst for hospital systems, says it bears little resemblance to her own family’s experience. “Unfortunately, my mom is one paycheck away from being unable to pay for anything,” said Alcin, 34, of West Palm Beach, Florida. “There’s nothing to transfer.” Sign up for The Morning newsletter from

Millennials and younger generations may end up facing a higher tax burden than their elders, experts have warned.