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Because factory workers get laid off by the same corporations that give out massive bonuses to upper management. A Bachelor's degree has become the new method for achieving social stratification. Not having one is essentially a salary cap for most people. You want to keep the riff raff out? Put up an educational gate. I even see this in technical industries where experience and certifications should have greater weight.

You're right, though. The working class has become the new poor. Such is capitalism in a political and legal environment designed around protecting those at the top.