Are you a Boomer? Congratulations, You Won the Economy!

[WorldWatcher]

You didnt do shit for me except live in a safe world that the Greatest Generation bled for you to have and then fleeced the younger generations by saddling us with $30T in debt while granting yourselves free healthcare and retirement income at our expense and lobbying against every effort to make those things more affordable to us. Your generation is the Worst. Generation. Ever. A bunch of takers that want to blame the poor and immigrants for the soul sucking grifting YOU actually did.

Just wondering.

Did I pay for your Mom and Dads SS and Medicare?

Older Aunts? Older Uncles? Grandparents?

WW

 

[1srelluc]

Just wondering.

Did I pay for your Mom and Dads SS and Medicare?

Older Aunts? Older Uncles? Grandparents?

WW

To Foghorn that was different.

 

[WorldWatcher]

To Foghorn that was different.

He doesn't get it.

The concept isn't the problem.

It's the boomer passing through the process creating a bubble. It's the bubble that is the problem, not the concept of the system.

SS was created in the 1930's. The boomer generation starts post WWII.

After all of us boomers are gone then the ratio's of those paying into the system compared to those retiring form the system begins to look better. But that's 30-40-50 years down the road before that is complete.

(Although personally I'd prefer individual accounts so you are funding your own retirement, that's a whole different issue with the major problem with that being how to transition. But that is a topic for another thread.)

(Also, SS was sold as part of a three part plan. Retirement Pensions, Retirement Savings, and Social Security. However in the 1970's the "pension" leg was cut out of the stool because businesses moved to 401K's type of plans because the money managers on Wall Street could make tons of cash by skimming the investments. But again that is a topic for another thread.)

WW

 

[1srelluc]

(Also, SS was sold as part of a three part plan. Retirement Pensions, Retirement Savings, and Social Security. However in the 1970's the "pension" leg was cut out of the stool because businesses moved to 401K's type of plans because the money managers on Wall Street could make tons of cash by skimming the investments. But again that is a topic for another thread.)

WW

Yep, I'm glad I made it through the death of pensions.....Stole a march on them I did......That and it was the best of both worlds, Hell, I have a 401K from DuPont that I've never touched.

Sadly In a year of so I'll have to take RMDs from it.

 

[Woodznutz]

Congrats Boomers! You win. You have accumulated more stuff than anyone AND you have set up more government perks than anyone according to a new Wall Street Journal article.

Today’s Boomers have tilted the economy towards themselves and saddled younger generations with their debt and payouts and the cost is swallowing the budget.

spending habits of boomers - Bing

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[Seymour Flops]

You left a $30T bill on my table and are running to the gates of St Peter without a care in the world. You got yours. The rest of us have to pay for your sins. Start calling us Jesus please.

Stop whining!

If later generations worked as hard as mine did, we would have a much more balanced budget and a negligible national debt.

When your generation spends 17 years getting a 4 year degree in gender studies, or the like, all on pell grants and student loans, which you now are shocked at being asked to repay, and when the percent of people drawing government wellfare benefits skyrockets, of course that is all going to add to the deficit and to the national debt.

 

[toobfreak]

Congrats Boomers! You win. You have accumulated more stuff than anyone AND you have set up more government perks than

And you are welcome.

 

[candycorn]

Congrats Boomers! You win. You have accumulated more stuff than anyone AND you have set up more government perks than anyone according to a new Wall Street Journal article.

Today’s Boomers have tilted the economy towards themselves and saddled younger generations with their debt and payouts and the cost is swallowing the budget.

https://www.wsj.com/economy/over-65-congratulations-you-own-the-economy-5acea4c4?mod=hp_lead_pos8

View attachment 1220613
As of the third quarter of last year, people 70 and over controlled roughly 39% of all equities and mutual funds owned by households, compared with 22% in 2007, according to Federal Reserve data. Their share of net worth—assets minus debts—was 32%, up from 20% two decades earlier.

This is good news: there has never been a better time in America to be old. Yet it also exposes our disjointed national priorities. We keep pouring resources into making the elderly comfortable and happy when the economy’s pressure points lie elsewhere.

The elderly are mostly out of the job market and thus need not worry about being replaced by artificial intelligence. The majority own their homes, often debt-free. Everyone worries about health costs, but the elderly have publicly funded Medicare. None of this is true for the younger generations.

The cost is swallowing the budget. Federal spending on elderly programs has risen from 6.9% of gross domestic product in 2007 to 9.4% last year and will reach 11.3% in a decade, the Congressional Budget Office projects.

That is where the real threat to intergenerational harmony lies. Elderly programs, plus interest, are the primary driver of the gaping budget deficit. By 2032, Social Security will no longer be able to pay full benefits. Fixing the deficit and Social Security requires some combination of higher taxes or lower future benefits, both of which will largely spare today’s elderly. If you think the young are anxious now, just wait.

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Did you see the Simpsons episode about the middle class? It was the season finale a couple of years ago.

Poorhouse Rock - Wikipedia

en.wikipedia.org

Bart sees Homer’s paycheck for the first time. He says,

“You get paid this much every week?"

Homer says, proudly, “Every TWO Weeks!!!!!!!!”

 

[Leo123]

While your cold dead body will have long exhausted SS before I get there I will have comfort in the knowledge that you borrowed it for me to pay back while you to sat on your ass and shitposted about immigrants.

At least I won’t have to live in your dystopian, Marxist shit hole you and your illegal alien murderers and rapists create..

At the same time, you will be able to live on the street and shit on the sidewalks with reckless abandon.

 

[DonGlock26]

Was it an issue for you during Reagans term when the debt first started under the whole trickledown economics scam?

How about George Bush's term when he quadrupled it, and put two wars on the country's credit card. Was it an issue for you then?

How about Trumps first term when his first tax cuts bill that added another $7 trillion to the debt, at a time the economy was recovering from Bush?

Was it an issue for you then?

Obvious troll comment because no human being can possibly be that ******* stupid.

The national debt is because of one, and only one reason only. Tax cuts for morbidly rich parasites and the corporations they run.

Just as soon as the nations youngsters figure that out, and take that away from them

Wall St. Journal article? The paper owned by the billionaire that pays less taxes than his workers? That Wall St. Journal?

The national debt exists for one, and only one reason. Supply side economics. AKA trickle down economics. This scam started in 1983, and has been perpetuated ever since by Republican Presidents in cooperation with Republican led Congress'.

None of this is new. It was around before any New Deal policies were enacted by FDR after the Great Republican Depression, and it was tariff policies of the late 1800's-early 1900's that led to the adoption of the 16th Amendment by popular support of the American people.

The nations debts and problems have always been the same. Rich people not paying enough taxes, and working poor not having livible standards, especially as they age and retire.

The New Deal policies were put into place by the Greatest Generation. Not the Boomer Generation. What Boomers are guilty of is stealing from those policies that were set up to benefit every future generation that came afterwards.

This can just as easily be resolved by todays generations by simply voting for and demanding of those you choose to represent you. So the decision will have to be made are we truly a representative democracy that benefits us all, or are we a private country club for members only?

Make those Boomers and the corporations they run start paying for the future that was promised the younger generations by FDR in the first place.

That’s a lot of effort, but can you answer the question?

 

[WEATHER53]

Just wondering.

Did I pay for your Mom and Dads SS and Medicare?

Older Aunts? Older Uncles? Grandparents?

WW

No perpetual victim you pay into in order to fund yourself. We understand that’s too much responsibility for a simp feeler like you

 

[WorldWatcher]

No perpetual victim you pay into in order to fund yourself. We understand that’s too much responsibility for a simp feeler like you

What the **** you you talking about?

I haven't spent a single day since I was 14 years old unemployed, my wife retired last year and I retired this year.

We have enough revenue coming in from other sources that a 25% cut in SS benefits equates to only a 7% reduction on overall income. We worked hard for what we have. And that DOESN'T include touching our 401K's which can ride until we reach RMD age.

So you can take you "simp" write in a piece of paper, fold it into a triangle and shove it where the sun don't shine.

WW

 

[WEATHER53]

What the **** you you talking about?

I haven't spent a single day since I was 14 years old unemployed, my wife retired last year and I retired this year.

We have enough revenue coming in from other sources that a 25% cut in SS benefits equates to only a 7% reduction on overall income. We worked hard for what we have. And that DOESN'T include touching our 401K's which can ride until we reach RMD age.

So you can take you "simp" write in a piece of paper, fold it into a triangle and shove it where the sun don't shine.

WW

No you don’t talk like a resourceful person who has done well in the real world since age 14. Stop lying.

 

[WorldWatcher]

No you don’t talk like a resourceful person who has done well in the real world since age 14. Stop lying.

Looks at 20-yearw military pension, other revenue streams, 401K balance, investments and just...



Thanks though, my wife and I are doing just fine.

WW

 

[my2¢]

Congrats Boomers! You win. You have accumulated more stuff than anyone AND you have set up more government perks than anyone according to a new Wall Street Journal article.

Today’s Boomers have tilted the economy towards themselves and saddled younger generations with their debt and payouts and the cost is swallowing the budget.

My wife and I are Boomers. Each of us has been retired over the past 9 years and fortunately our combined Social Security and pensions provide us more than enough to live on. The paid medical coverage we got from the company I retired from also helps.

I feel no blame for winning. I've always been a fiscal conservative. I didn't favor Voodoo economics, the cost of the wars to make the Islams great again, the government stimulus checks, nor all the various tax cuts. We're also generous with our gifts and charitable donations. Plus, over the last 5 years of this retirement life, in which we haven't earned as much as a dime in wages, our income taxes have average over $24,000 annually.

 

[BrokeLoser]

Congrats Boomers! You win. You have accumulated more stuff than anyone AND you have set up more government perks than anyone according to a new Wall Street Journal article.

Today’s Boomers have tilted the economy towards themselves and saddled younger generations with their debt and payouts and the cost is swallowing the budget.

https://www.wsj.com/economy/over-65-congratulations-you-own-the-economy-5acea4c4?mod=hp_lead_pos8

View attachment 1220613
As of the third quarter of last year, people 70 and over controlled roughly 39% of all equities and mutual funds owned by households, compared with 22% in 2007, according to Federal Reserve data. Their share of net worth—assets minus debts—was 32%, up from 20% two decades earlier.

This is good news: there has never been a better time in America to be old. Yet it also exposes our disjointed national priorities. We keep pouring resources into making the elderly comfortable and happy when the economy’s pressure points lie elsewhere.

The elderly are mostly out of the job market and thus need not worry about being replaced by artificial intelligence. The majority own their homes, often debt-free. Everyone worries about health costs, but the elderly have publicly funded Medicare. None of this is true for the younger generations.

The cost is swallowing the budget. Federal spending on elderly programs has risen from 6.9% of gross domestic product in 2007 to 9.4% last year and will reach 11.3% in a decade, the Congressional Budget Office projects.

That is where the real threat to intergenerational harmony lies. Elderly programs, plus interest, are the primary driver of the gaping budget deficit. By 2032, Social Security will no longer be able to pay full benefits. Fixing the deficit and Social Security requires some combination of higher taxes or lower future benefits, both of which will largely spare today’s elderly. If you think the young are anxious now, just wait.

View attachment 1220612View attachment 1220614

Boomers paid their dues. They built and handed your sorry ass the wealthiest, most advanced, most powerful nation on the planet…A debt free nation, a united, productive, clean, safe, moral, Christian, all white nation free of that destructive diversity and multiculturalism you wackos have fucked it all up with. You owe Boomers your left nut you ungrateful puke.

 

[Greenbeard]

Boomers paid their dues. They built and handed your sorry ass the wealthiest, most advanced, most powerful nation on the planet…A debt free nation, a united, productive, clean, safe, moral, Christian, all white nation free of that destructive diversity and multiculturalism you wackos have fucked it all up with. You owe Boomers your left nut you ungrateful puke.

Delusional. Boomers didn’t pay for shit (we’ve been running a deficit for over half a century), haven’t built shit, inherited the superpower status that they’re worked hard to squander, and certainly aren’t leaving behind a debt-free nation.

 

[BrokeLoser]

Delusional. Boomers didn’t pay for shit (we’ve been running a deficit for over half a century), haven’t built shit, inherited the superpower status that they’re worked hard to squander, and certainly aren’t leaving behind a debt-free nation.

Do you assert that the Silent Generation, the even whiter, even more Christian, even more moral, even more heterosexual and even more racist generation built the once great America you unconventional loons have fucked up? I’d probably agree with that.

 

[citygator]

Just wondering.

Did I pay for your Mom and Dads SS and Medicare?

Older Aunts? Older Uncles? Grandparents?

WW

My dad, a hard working great guy, is bleeding us dry. He was an 05 or O6 in the military for 30 years and gets a fat check monthly, gets free healthcare for life, and utilizes military benefits still. He’s one of you though…. Leaving $30T behind for us to pay for how he lived. Just like y’all.

 

[citygator]

Do you assert that the Silent Generation, the even whiter, even more Christian, even more moral, even more heterosexual and even more racist generation built the once great America you unconventional loons have fucked up? I’d probably agree with that.

Can’t speak for him but that generation didn’t leave us broke and wasn’t living the highlife like the deadbeat Boomers. Did Boomers become entitled from single parenting while Dad was off to war?