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No, we just think you are an idiot.
More at http://www.economist.com/node/21563725More worrying is that this generation seems to be able to leverage its size into favourable policy. Governments slashed tax rates in the 1980s to revitalise lagging economies, just as boomers approached their prime earning years. The average federal tax rate for a median American household, including income and payroll taxes, dropped from more than 18% in 1981 to just over 11% in 2011. Yet sensible tax reforms left less revenue for the generous benefits boomers have continued to vote themselves, such as a prescription-drug benefit paired with inadequate premiums. Deficits exploded. Erick Eschker, an economist at Humboldt State University, reckons that each American born in 1945 can expect nearly $2.2m in lifetime net transfers from the state—more than any previous cohort.
I know many of you --mostly Boomers-- think I malign the Boomers too much. As time goes by I think you will see I am simply ahead of the curve.
No, we just think you are an idiot.
#Patting Yourself on the Back for Predicting a Long Predicted Demographic Trend
Don't sprain your wrist!
We sure are lucky that our politicians put all that money we paid into SS and Medicare in the lockbox so it will be there when we need it!
lockbox was a good idea. completely untenable politically, but rationally sound.
Call people spongers because they live a bit longer? GFY
and this is VRWC/conservative policy strategy, resulting in the large, totally unavoidable deficits:
"The average federal tax rate for a median American household, including income and payroll taxes, dropped from more than 18% in 1981 to just over 11% in 2011"
LOL "a bit longer"
Yeah, too bad they never did it.
Sure they did, unfortunately they gave everyone a copy of the key.
Forced redistribution of weath.
Sucks, huh?
's only getting worse when the boomers stop working and start living on pensions.
The Boomers will live just long enough to see the collapse. They won't live much longer than that, since survival for most will be tough when the transfer payments stop and they're too old and feeble to fend off the hordes.
There was something in the news about a 70-year-old farmer in Oregon whose dentures and a few body parts were found in his hog pen after the hogs had their fill of him. It will be kind of like that.
yes, and poor people are living 4 years shorter, says report of the last few days.
life expectancy is up 10% since 1960, 70 to 77. When SS was enacted 1935, expectancy was about 60.
The problem is not SS being insufficient but the unjustified, exorbitant, costs of healthcare, outstripping inflation by 10s of % for decades, paid for by medicare/medicaid worsened by a huge percentage of bad-living, bad-eating, no-exercising seniors living on multilple, over-priced prescription BigPharma drugs.
My guess is that while the govt won't default on bonds held the 1% and foreigners, it will find a way to sorta default on the bonds held by SS for the 99%.
Last edited by boutons_deux; 10-02-2012 at 12:26 PM.
Poor Hispanics live longer than affluent Anglos. This is because mestizos are less likely to get Anglo genetic diseases caused by recessive genes.
Anglos on average live longer than affluent blacks. This is because blacks have higher infant mortality for reasons not well understood.
Whites lacking high-school diplomas have unusually short lifespans. In Louisiana, genetic disorders caused by inbreeding were found to a significant factor in the reduced lifespan; it's a common cause with the lack of education because the inbreeding leads to low IQ's. In Kentucky and West Virginia, I doubt it's different.
Too bad it's not like that.
Building up debt for generations that were not even alive for the most part and certainly not having wealth to be redistributed is not redistribution of wealth. That's just leaving a legacy of .
What's sad is irresponsible pukes like CC just pulling the "golly gee, seargent" Gomer Pyle routine.
This is why I laugh whenever Boomers have the absolute nerve to rant about how "selfish, lazy, and en led" anyone younger than them supposedly is..... gee, Grandpa, we're gonna be paying down all the debt you ran up due to your generation's selfish en lement mentality, shouldn't you be thanking us?
I was meaning ahead of the curve around here and perhaps to popular culture. When I first started talking about it here years ago I was chastised as being a petulant, unappreciative child. Now I just get weak excuses and deflections of accountability as the writing on the wall is too significant to ignore. The generational hit pieces from Boomers about how Gen X/Yers were irresponsible and lacking merit were a steady stream and now do not get a whiff of publication.
And the only reason why it is 'politically untenable' is because of the Boomers. The Silent/Greatest generations ran up humongous debts in the 1940s and managed to act responsibly with vision. In contrast, when looking at the Boomers rise to dominance in the 1980s you see systematic fiat of en lements to an individual class of people, Boomers, and cuts to taxes and en lements to every other class.
Unfunded wars and the Contract with America have been travesties of hypocrisy from the champions of the Tea Party.
Not really, since that's pretty much what every civilized society has. I guess if you didn't want forced redistribution of wealth, you could go to a country that only has a barter system.
that you can suck your own is really cool, but doing so in public shows poor judgment.
prove it
Is this supposed to be that charm that you have been talking about? Backtracking off your statement of being behind the curve to this petulance is most certainly charming.
Really though, it's not typical of me to glorify myself about past statements that have been proven correct. You should understand that by now. It's just after all the deriding I took a couple of years ago I do feel a measure of vindication.
If that offends you then so be it. Everything offends you it seems so there is only so much one can do.
Really?
Click the link and get reading.
You having a bad day? You seem PMS-y.
the OP does not sustain your claim that "all other classes" had their en lements cut
that part you just made up
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