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

[BrokeLoser]

You love saying stupid shit.

I’m right…aren’t I?

 

[Marener]

I’m right…aren’t I?

Why ask a question when you don't give a shit about the answer.

 

[Delldude]

Typical boomer. Never able to see your own fault. Always blaming someone else.

I didn't create the law .... your party did.

It's so great, I'm very close to the maximum monthly benefit payment from social security.

I got paid weekly...... bought a $500 dollar savings bond every week.... for $250. The greatest government on the Earth.

Not to mention what I did with my other monies.

Looks like your a whiner worried about not getting your promise that your party guaranteed.

I feel your pain.....

Thanks to you, I'm not working.....

 

[Nostra]

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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People over 70 own more stuff than people over 70 20 years ago?

Maybe cuz there are a shit-ton more people over 70? I think the Boomer thing shoulda been a clue, Short Bus.

 

[BrokeLoser]

You love saying stupid shit.

Anytime a purple hair says I say stupid shit I can be sure my shit is right on point. Thanks for the affirmation.
Delldude

 

[fncceo]

Congrats Boomers! You win.

Thanks! I already know.

 

[citygator]

We grew up with a work ethic. No hand-me-downs.

Bullshit. We work way harder today than you ever did AND we are several time more productive. When you left work at 5... it was over. Today we are at work 24/7 with email, texts, and phone calls in a 24/7 transaction world. You worked in an era where employee tenure and loyalty meant something, we work in a world of transactional employment and gigs. You didnt work hard. You were given everything and then took it away once your investments needed fewer workers. Your healthcare was cheap and then when it became paid for by us you let it go up... your education was cheap if you got one then you let it go up.

What exactly have boomers done besides make the world a worse place for following generations? You will be the first one to leave it worse off.

"Baby Boomers are widely considered the first American generation to leave their children worse off financially, holding over 50% of U.S. wealth while Millennials and Gen Z face significantly higher housing costs, debt, and lower relative asset accumulation. "

 

[citygator]

I am not convinced that this comparison is meaningful.

First, it compares share of wealth in a relative sense, as opposed to absolute wealth.

2. Its premise is that income inequality is a meaningful metric. It is not. If we all get richer, that's great. Some get richer than others.

3. As people age, they generally accumulate more wealth (or in some cases, debt ). It makes perfect sense as the population gets older, fractional wealth shifts accordingly. The population of over 70s increased 50% (8% -- 12%), and their share of wealth increased about the same (~20% to about 30%). This would be expected.

4. Old folks do not get rich at the expense of younger folk. Everyone has equal opportunity, and if they work hard every day to get wealthy, chances are that they will end up quite wealthy. I think the comparison is another example of young people expecting everything for free. It's an unreasonable expectation to be both young and wealthy.

Youre missing the rule changes that occurred to steal from other generations. Boomers borrowed debt of $30T and left it to other generations to pay while lavishly setting up a social security system that wont work past their own generation. They vote against any healthcare solution that addresses a problem they dont have with Medicare assured for them paid for by other generations. The workplace rules shifted from Pensions and lifetime employment for Boomers to no pension and transactional employment for subsequent generations as they relaxed labor laws for profits once they didnt need the protections themselves.

The list is long on how they allowed themselves to grab more of the pie once they got into office and power in the 90's. You see it in the charts of wealth distribution.

I am 100% convinced that Boomers are the most selfish generation we have every had. They made no sacrifices, stacked the deck toward themselves, and purposefully unwound an economy that was working for all to spool up an economy that works for the top.

 

[citygator]

I have a very strong gut feeling that citygator and Marener are both boomers but they’re purple hair nose ringing basement dwellers who never worked and never contributed to the SS fund…Now, they’re looking at cashing in on $600 per month at age 70 and they’re pissed at all of us who max’d out our benefit….GUARANFUCKINTEE you that’s the case.
Remember, purple hair nose ringing homos HATE those who made/make good life decisions.

Gen Xer latchkey kid here. I've maxed out my SS every year for 25 years.

Max you can earn is on your first $176,100 this year. I did that again... for the 25th straight year or so. Goes to your first $184,500 next year.

Im due $60k a year in SS at 70. I'll never see that.

 

[citygator]

People over 70 own more stuff than people over 70 20 years ago?

Maybe cuz there are a shit-ton more people over 70? I think the Boomer thing shoulda been a clue, Short Bus.

Another Boomer grifter weighs in. How about you pay your $30T debt before your body cools?

 

[Delldude]

Bullshit. We work way harder today than you ever did AND we are several time more productive. When you left work at 5... it was over. Today we are at work 24/7 with email, texts, and phone calls in a 24/7 transaction world. You worked in an era where employee tenure and loyalty meant something, we work in a world of transactional employment and gigs. You didnt work hard. You were given everything and then took it away once your investments needed fewer workers. Your healthcare was cheap and then when it became paid for by us you let it go up... your education was cheap if you got one then you let it go up.

What exactly have boomers done besides make the world a worse place for following generations? You will be the first one to leave it worse off.

"Baby Boomers are widely considered the first American generation to leave their children worse off financially, holding over 50% of U.S. wealth while Millennials and Gen Z face significantly higher housing costs, debt, and lower relative asset accumulation. "

I detect penis envy.

'Mines bigger than yours'

 

[Independent thinker]

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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LOL. What happened to only the one percenters were getting richer? Now a shitload of people got richer. By the way, the government (both Democrats and Republicans) have saddled the younger generation with massive debt, not the baby boomers. But, then again, many of you lefties claim the debt never has to be paid back, so, no worries. Everything's good.

 

[Jim H - VA USA]

Youre missing the rule changes that occurred to steal from other generations. Boomers borrowed debt of $30T and left it to other generations to pay while lavishly setting up a social security system that wont work past their own generation. They vote against any healthcare solution that addresses a problem they dont have with Medicare assured for them paid for by other generations.

Oh, good. A "taxation is theft" argument from you.

A bit of a stretch to say that it is Boomers stealing. The problems with federal social security and medicare are just more examples that Big Government and Socialism don't work.

Net worth generally increases with age as individuals accumulate assets and pay down debts. However, it often declines in retirement as people draw from their savings.

(source)

We'd all be much more wealthy if the government would have not mandated poorly-designed retirement plans (social security) and health care (Medicare), except for the truly disabled.

Boomers don't deserve the blame for this, Big Government does. Socialism always ends up collapsing, Boomers just happen to be lucky enough to be the last ones to get full benefits befroe the collapse.

 

[citygator]

Oh, good. A "taxation is theft" argument from you.

A bit of a stretch to say that it is Boomers stealing. The problems with federal social security and medicare are just more examples that Big Government and Socialism don't work.

Net worth generally increases with age as individuals accumulate assets and pay down debts. However, it often declines in retirement as people draw from their savings.

View attachment 1221239
(source)

We'd all be much more wealthy if the government would have not mandated poorly-designed retirement plans (social security) and health care (Medicare), except for the truly disabled.

Boomers don't deserve the blame for this, Big Government does. Socialism always ends up collapsing, Boomers just happen to be lucky enough to be the last ones to get full benefits befroe the collapse.

I think it's fair to say the tax cuts and over spending occurred with Boomer Presidents and Boomer Congresses and they basically ensured that the funding for SS would dry up after most of their generation has passed. They set up an unsustainable path that they dont have to worry about.

ALL of the wealth gain you are showing above should be NETTED out of the debt those jokers are leaving behind. Who says there are no free meals? Boomers are eating meals for free.

I'd at least suggest outrageous inheritance taxes to get it back.

 

[mudwhistle]

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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Weird.....we paid more into the treasury than you.....and now you want to blame us for congressional over-spending and fraud.

 

[d0gbreath]

Power in numbers is pretty common.

 

[dudmuck]

You revel in the fact that you're living off other people's hard work.

 

[BrokeLoser]

Are you saying black folks can’t feed themselves without free shit / other peoples money?

 

[dudmuck]

Are you saying black folks can’t feed themselves without free shit / other peoples money?
View attachment 1221503

and shocked to find out the drivers license is useless for voting after Trump's SAVE act.

 

[Delldude]

and shocked to find out the drivers license is useless for voting after Trump's SAVE act.

Oh this has got to be a good one.

Do tell.