TL;DR- The American dream is not over, because it is a myth that never existed in the first place.

The American dream is the notion that in America, even those coming from the humblest of origins can build themselves up to 'greatness'. It is a concept that politicians and citizens alike have referenced for years.

However, the American dream never really existed in the first place, as it was a completely made-up idea to try and bring people to America and encourage them to 'better themselves' economically. The concept was also only really built for straight white men, completely marginalising women and BIPOC for example.

[It is evident from contemporary issues like the Black Lives Matter movement, the vast achievement gap, the intensely unequal distribution of wealth, etc., that Americans still do not all have equal opportunity for success] (https://dailyillini.com/opinions/2015/08/26/the-american-dream-is-not-dead-it-never-existed/).

Discrimination and prejudice regarding religion, gender, race, sexuality, etc. has always existed in America, and still does to this day, so it can easily be argued that without actual equality, the American dream cannot exist (and therefore never has).

Even if we go back to when the American dream was constantly being referenced, only a very small percentage of the population fitted the definition of the American dream. People like [Rockefeller and Carnegie were the 1% of the 1% of the 1% who lived in gilded opulence] (https://www.mythandmystery.com/wp/the-american-dream-never-existed/).

Throughout USA history, it's true that some people have achieved a life that fits the American dream narrative. But these cases are uncommon, and so many people are marginalised, that the whole concept of the American dream does not really make sense. It is largely a myth that never really existed, and was only a reality for a small portion of the population.

TL;DR - The American Dream is definitely a construct, and now more than ever people understand that it is over as a dream and a fantasy that drove people forward, because a person's situation is dependent on much more than hard work, choice and luck.

I would say that the American Dream failed because of the lack of proper education and vocational and community support, which did not receive proper attention and was replaced by a too great reliance on notions of individual initiative and potential. As Caroll Graham argues, '[t]here are high costs to being poor in America, where winners win big but losers fall hard'.

There's deep social, economic and racial inequality that prevents the optimistic reliance on meritocracy that the American Dream stands for. Graham goes on to say that 'the dream, with its focus on individual initiative in a meritocracy, has resulted in far less public support than there is in other countries for safety nets, vocational training, and community support for those with disadvantage or bad luck' ( The Guardian ).

Indeed, the lack of education and infrastructure combines with poverty among many Americans to make social inequality even more vivid, and the American Dream even more unattainable. As Deaqon James says, '[w]ould you believe that 3/4 of Americans between the ages 17 and 24 would not be eligible to join the military even if they wanted to? Either because of low physical health or a lack of education' ( Luxury Standard ). This is one of the many reasons why the American Dream is over.

The American Dream is a collection of values in which freedom entails the chance of wealth and achievement and upward social mobility for the family and children, all of which can be accomplished through hard work in a society with few barriers.

The American Dream is dead. Even as higher education becomes a requirement for a growing number of white-collar workers, the cost of attending college is rising. As manufacturing and other types of well-paid blue-collar labour fade away, these occupations have become increasingly important to the American middle class. The debt incurred as a result of completing this ostensibly compulsory college education

They put off having children because they are financially insecure, and when they do have children, they are worried about paying for child care and education. These economic trends have disproportionately impacted less-educated male wage earners, who are now dealing with unemployment, obesity, disability, suicide, and substance addiction. This can result in "deaths of misery" and a decrease in life expectancy.

TL;DR: The 'American Dream' is the idea that any American, with hard work and imagination, should be able to out-earn their parents. The data stopped bearing that out in c.1980.

Social Mobility is the great standard by which the American Dream is measured.

The WEF data shows stagnation hits around 1980 for the early Millennials. More data and background here which shows social mobility was indeed a key fact of post-war life in the US, but massively rising inequality since the 1980s has reversed that trend.

The American Dream was always set in counterpoint to the entrenched, class-based hierarchies of Europe, where who you were counted more than what you did. No longer. The US now ranks below almost every European country in terms of social mobility.

TL;DR: Numbers don’t lie, and they suggest the demise of the American Dream.

American dream means robust social mobility. The concept was never perfect. At the peak of its time, it still excluded many vulnerable groups and racial minorities. Despite its aspirational nature, American Dreams represented a live possibility once upon a time. No more. Statistical trends have reflected growing wealth concentrations and barriers out of poverty.

Wealth is becoming increasingly concentrated. Back in 1965, a CEO received 29 times the salary of an average worker. In 2020, that ratio has ballooned to 320 to 1. In 1984, upper-income households controlled 60% of the total aggregated wealth in the country. Today, they control 73%. Ever since the Great Recession, only the richest people in this country have seen their wealth grow.

On the other end of the spectrum, barriers to economic security have only grown taller. Despite the growing inequality, the U.S. federal minimum wage has not increased since 2009 and remains significantly lower than other developed countries. Even though skilled labor has seen growing employment opportunities, they largely remain untenable for many due to the skyrocketing cost of education. Over the past 20 years, private and public universities in the United States have increased their tuition by 165% and 144% respectively.

As the two sides pull further ahead, numbers do not tell an optimistic story of the once-promising American Dream.

I disagree on the understanding that the American Dream is the idea that you can come from nothing and become a success.

I have a friend in Chicago who grew up in a poor area, his parents struggled to provide for the family of four. He couldn't afford to go to college and he wasn't good enough at sport to get his tuition paid for, so he decided to start his own business with his friend. After 9 years their company is now worth $80 million. That proves that the American Dream is still possible. I also happen to believe that the USA has the highest class mobility in the world, so this is not an isolated incident.

I don't believe there is anywhere else in the world right now where you would have the same chance to be a success, and based on that I believe that the American Dream is still alive.

Lots of Love,
A Brit

The American Dream cannot die as long as America exists.

Like any dream, it exists as an ideal to aspire to.

The dream is that of having a society based purely on a meritocracy, where one can achieve happiness, wealth and overcome adversity through effort.

It may seem impossible to achieve (and as contributors have pointed out, has more and more obstacles for someone to achieve it in their lifestyle) but as long as America exist people will strive for it to become a reality.

An aspirational dream can fade and become more unrealistic, but it cannot die, only become more unlikely to achieve. (Short term it may seem near impossible but so many voters think it is worth while, it will be revived again and again and never pass away)