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WP: Baby boomers are what’s wrong with America’s economy


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https://www.washingtonpost.com/posteverything/wp/2015/11/05/baby-boomers-are-whats-wrong-with-americas-economy/?hpid=hp_rhp-more-top-stories_no-name%3Ahomepage%2Fstory

 

If anyone deserves to pay more to shore up the federal safety net, either through higher taxes or lower benefits, it’s boomers — the generation that was born into some of the strongest job growth in the history of America, gobbled up the best parts, and left its children and grandchildren with some bones to pick through and a big bill to pay. Politicians shouldn’t be talking about holding that generation harmless. They should be asking how future workers can claw back some of the spoils that the “Me Generation” hoarded for itself.

 

 

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So what exactly were the boomers supposed to do? Not get jobs or only take crappy ones?

 

The article goes into what they did do, as opposed to what they could have done to secure a better future for the next few generations.

 

Now the boomers can pay up. Either with cuts to the benefits they get (obvious solution), or paying a bit more in taxes.

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So what exactly were the boomers supposed to do? Not get jobs or only take crappy ones?

No, they were not supposed to rig the system to benefit themselves at the expense of future generations. Of course, they learned it from "the greatest generation" who returned from WWII and pilfered the system for their benefit.

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I refuse to place the blame squarely at the feet of an entire generation of people when it's really a matter of the system being increasingly rigged in favor of business.

-In the past 40 years, we've moved away from the nice progressive tax code that we had and toward one that consistently favors wealthy and investors (at the expense of our budget deficit, because these tax cuts are never paid for)

-big business has been brutally efficient in killing off labor unions. Is it any surprise that wages have stagnated while efficiencies (and profits) have skyrocketed?

-We let banks and big business get involved in, and control, higher education. Is it any surprise that college education is increasingly difficult to pay for, and the student loan debt problem has become a massive burden on the middle class?

-We let businesses directly fund elections. Is it any surprise that we have some of the weakest worker protections, social programs, etc, in the developed world? We don't even have paid ****ing maternity leave for ****s sake.

Welcome to the American Oligarchy. Most of us haven't figured it out yet, but we're all totally ****ed. It will take generations to undo the economic damage of the past 40 years.

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Blame the old people and cut their benefits! That is the perfect mantra for the younger generations that believe old people are barely worth calling a few times a year.

No ones gotten it right. When someone figures out how to shrink the wage gap and stop incentivizing the shipping of jobs over seas maybe we an start pointing fingers.

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Now the boomers can pay up. Either with cuts to the benefits they get (obvious solution), or paying a bit more in taxes.

 

We are the ones working and paying taxes , we need these youngsters to get a job. (a good paying one, I got needs)

 

This Pyramid scheme is in need of slaves.

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Expanding on my earlier post, if you want to know whose fault it is, look to white southerners. That voter block has allowed themselves to be so manipulated by racial divisions and social distractions over the past few decades that they have sold themselves out and actively vote against their economic interests. Look very specifically at West Virginia as a case study. That used to be the strongest union state in the country...

Nixon's southern strategy has been brutally effective and still is...

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 if you want to know whose fault it is, look to white southerners.

It amazes me how generalizations like this can be made.  If one were to instead say problem X is "the fault of inner city blacks" they would end up in the Klan thread.  Statements like this just make me discount other things you say. 

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It amazes me how generalizations like this can be made. If one were to instead say problem X is "the fault of inner city blacks" they would end up in the Klan thread. Statements like this just make me discount other things you say.

Well the article claimed "the baby boom generation" so I figure "white southerners" actually narrowed it down a lot.

So how about "white southerners who vote against their economic interests because of distraction issues like race, religion, guns, etc.." Does that work better? Geez.

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Blame the old people and cut their benefits! That is the perfect mantra for the younger generations that believe old people are barely worth calling a few times a year.

 

 

We (the younger generation) certainly didn't vote in majority for war hungry politicians whose priority was to expand the military industrial complex. Or vote for politicians who rigged the tax system to benefit a very small few. Or for politicians who promised to dismantle labor unions and allowed wages or worker benefits to stagnate. Did we also knowingly elect politicians who promised to deregulate the financial sector? Did we also then go balls deep into loans we couldn't afford to take out, which eventually crashed the economy?

 

It's not a perfect mantra. It's reality. Us millennials have had the system stacked against the moment we left high school, starting with massive inflation in higher education costs. My undergrad institution used to cost 8K a year in the early 90s. During my time there in the late 2000s, it had ballooned to 50K (thank god for the rich kids whose parents ponied up full tuition costs and subsidized it for us not so rich kids).

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Not really. But I've also learned that trying to change most people's mind is a waste of my finger muscles. And your statement isn't really what the thread is about so I won't derail it anymore.

It's actually EXACTLY what this thread is about. The fact that a generation of Americans allowed themselves to be sold out to big business, anti-labor interests, and now the country is totally screwed.

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shoring up social security isn't all that difficult. raise the income cap that is taxed for SS from $118,000 to something like $300,000 and the system is solvent in the short term (for boomers) and extremely stable for future generations. none of this "work until you're 70" crap for the middle and lower class gen x'ers and millennials. sorry, rich guys, but your retirement nut (age of retirement and/or quality of life during retirement) ain't going to be affected significantly anyway.

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