I don't have any children so my opinion is not influenced by emotion.
I entered the job market in 1973 and endured recession after recession as well as the first effects of automation. Things were not easy. Things are the same today really it is just that the Millennials are facing the same crisis albeit more inequitable.
A lot of the wealth in China is from limited capitalism in the communist state. The products made in China with cheap labor (where possible) will be made by robotics (robot workers) in the nations that are technically able to do it. The workers in the Chinese factories will return to the fields as substance farmers unless they can develop a locally supported market that is not reliant on massive exports.
Workers in the USA will not be that greatly affected. Those with good skills have good jobs. The McJobs and Wally World Workers will still be needed but less and less as automation and robotic jobs displace some.
The Romans had the Colosseum and handed out bread to the hungry -- that is minimal support for people that give minimal work -- for whatever reasons.
As for the education system:
The school district here (K-12) spent $50 million on one new elementary school and remodeling the high school (originally built in the 1970s) -- I am paying $150 a year for 20 years assessed on my property taxes to pay off that school district bond debt. A large part of the remodel expense was in building computer labs and other technically oriented learning centers towards training of the basic skills for the kind of work that will be available.
If there was a county wide assessment of $200 a year on my property for vocational community college school facilities, fixtures and equipment that was making a serious effort to deal with this coming issue I would probably vote for it.
I have no children in school. I can deal with it. The only benefit is that the small suburban school district adds some value to my property. Commercial property pays a millage rate that is twice mine as residential property -- they pay for the schools too without direct benefit, their only benefit being schooled workers of the future (perhaps -- it the kids stay in the area). An educated labor pool.
A basic annual income tax would be maybe cost 15% in an across the boards tax increase. No, I don't want to donate 15% of my taxable income to people that cannot or wont work if they are physically able but mentally deficient for retraining -- you are out of your fucking mind?
Maybe 50 million workers are going to be displaced -- 50% of them can find new work and 20% can learn new skills. The other 30% are going to have a shitty existence. But that is not my fault ...
^ that said I got work to finish by the end of the month.