"Total Boomer Luxury Communism"

[Greenbeard]

I've been seeing this phrase more often lately. I suspect it presages a new fault line that will become increasingly prominent in American politics over the next half decade. In the next year or so, the largest cuts ever to food assistance and health care for low-income people will take effect; in a few weeks young people behind on their student loans will start to see their wages garnished; the housing shortage will continue to keep a key slice of the American dream out of reach for many young families, child care will continue to be exorbitant and fertility rates will continue their downward creep, who knows if the moribund job market will resurrect. All of this will disproportionately fall on working age individuals and families.

Meanwhile, in 4-5 years we're likely to see the Boomers step forward hat-in-hand to ask--or perhaps more likely demand--that those families intervene to head off the coming automatic ~24% cut to Social Security checks (and the potential pare backs to Medicare benefits coming not too long after). When that moment and that debate come, do the increasingly combustible intergenerational tensions ignite?

What Is Total Boomer Luxury Communism?

The essence of TBLC is that it redistributes wealth from younger families and workers to seniors, who are on average much richer. America has achieved the Marxist paradise of hunting in the morning, fishing in the afternoon, rearing cattle in the evening, and criticizing after dinner. Only it looks more like golf in the morning, horseback riding in the afternoon, drinks at the social club in the evening, and a restful night’s sleep in a million-dollar home—all thanks to the largesse of the U.S. government.

Today, most Americans have no idea how their tax dollars are spent. For example, 91% do not know that Social Security benefits can reach over $60,000 per person. They have no idea that a senior household can collect nearly $117,000 a year just from Social Security. And if you tell people that Medicare programs cover golf balls, greens fees, social clubs, ski trips, and horseback riding, they stare in disbelief.

Zoomers and Millennials may overlook America’s massive social spending because they largely don’t benefit from it. They just pay for it. As Chris Pope explains, “The U.S.’s increasingly costly entitlements for middle-class retirees result in substantial redistribution away from young workers.”

Total Boomer Luxury Communism helps these seniors stay in spacious homes far longer than they otherwise would. Like almost everywhere else in the nation, D.C. offers special tax breaks for senior homeowners. This encourages them to stay in their homes, despite their spare bedrooms, instead of downsizing and selling to younger families. Nearly every state has special subsidies for senior homeowners, from exemptions to freezes to deferrals, to help them stay in place.

It gets worse. Medicaid long-term care exempts home equity of up to $1,097,000 from means testing. And the Federal Housing Authority provides Americans aged 62 or older a special “Home Equity Conversion Mortgage,” allowing them to turn home equity into cash without additional monthly payments. Often, this transfers the burden to their heirs.

If we don’t radically overhaul America’s entitlement regime, our entire nation will become a naturally occurring retirement community.

 

[CrusaderFrank]

I thought Obamacare was going to lower premiums?

 

[HikerGuy83]

When that moment and that debate come, do the increasingly combustible intergenerational tensions ignite?

Let's hope so.

 

[HikerGuy83]

I thought Obamacare was going to lower premiums?

And you believed them?????

 

[Greenbeard]

I thought Obamacare was going to lower premiums?

Hope you didn't squander those savings, they'll be coming in handy soon.

 

[HikerGuy83]

Hope you didn't squander those savings, they'll be coming in handy soon.

When do the premiums come down? So we can start saving those dollars.

 

[CrusaderFrank]

Hope you didn't squander those savings, they'll be coming in handy soon.

Best way to handle ObamaCare

And replace with Health Savings Accounts

 

[Greenbeard]

Best way to handle ObamaCare

And replace with Health Savings Accounts

If Boomers are willing to trade their Medicare coverage for HSAs, could be a solution.

 

[HikerGuy83]

If Boomers are willing to trade their Medicare coverage for HSAs, could be a solution.

Yep.....too bad, Bush, Obama, Trump, Biden didn't fix this crap when they had the chance.

Oh well, that's what you get from government........nothing useful.

 

[HikerGuy83]

If Boomers are willing to trade their Medicare coverage for HSAs, could be a solution.

Lot of boomers and soon to be's that don't have much put away for retirement.

They'll love this idea.

Sooner or later the bill comes due.

Obamacare sucks.

 

[Oddball]

Hope you didn't squander those savings, they'll be coming in handy soon.

Where the **** is my $2,500 savings, buttpipe?

 

[Oddball]

If Boomers are willing to trade their Medicare coverage for HSAs, could be a solution.

You gave no choice as to whether we'd have our money stolen from us to pay for it, so FU.

 

[BluesLegend]

I thought Obamacare was going to lower premiums?

AND everyone would get a check for $2,500 a year. Obamacare was one of the greatest lies Democrats have ever told.

 

[Greenbeard]

You gave no choice as to whether we'd have our money stolen from us to pay for it, so FU.

And you’ll get what you paid for. The automatic 24% reduction in Social Security checks that hits in a few years will ensure it.

 

[Oddball]

And you’ll get what you paid for. The automatic 24% reduction in Social Security checks that hits in a few years will ensure it.

Just like you ******* commie stiffs to steal over 15% of my life's earnings, to chump me with that pittance.

I repeat: FU.

 

[Greenbeard]

Just like you ******* commie stiffs to steal over 15% of my life's earnings, to chump me with that pittance.

I repeat: FU.

You Boomer Commies had your chance to fix it, keep your hands out of the pockets of the next generation.

 

[1srelluc]

You Boomer Commies had your chance to fix it, keep your hands out of the pockets of the next generation.

The average age of congress is 59.6 years......That's Gen X OP.....So what are you gonna do?

 

[Oddball]

You Boomer Commies had your chance to fix it, keep your hands out of the pockets of the next generation.

And your team has had numerous opportunities to fix it, and only made it even worse.

Again: FU.

 

[Greenbeard]

The average age of congress is 59.6 years......That's Gen X OP.....So what are you gonna do?

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I do think this trend should be a wake up call to any Boomer who thinks they’re going to simply vote themselves more money from subsequent generations to avert the coming ~24% cut to their checks.

 

[Lisa558]

Hope you didn't squander those savings, they'll be coming in handy soon.

Obamacare savings? My medical costs DOUBLED once Obama graced me with “affordable” insurance.

But thankfully, I contributed to Medicare for 35 years, and now I’m reaping the rewards of my contribution. I earned it.