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I am pretty sure that currently taxes paid by baby boomers (51+ age) outweigh taxes paid by millennials. And taxes are contributing to a majority (all?) of pub

by cunac 11y ago

I am pretty sure that currently taxes paid by baby boomers (51+ age) outweigh taxes paid by millennials. And taxes are contributing to a majority (all?) of public services. Things look even worse for a millennials if you add my generation (gen X). That would include population 40+ which arguably is at a peek of earnings. I am not sure which contribution you are measure so I used a simple money based one. I would "love" to have vote proportional to taxes I pay (kidding ..)

tomp 11y ago
> I am pretty sure that currently taxes paid by baby boomers (51+ age) outweigh taxes paid by millennials. How about in 10 years, when they stop working and retire?
- cunac 11y ago
  then you will have same conversation with my generation (X) and after another 10 some other generation will have same conversation with millennials :-)
hiram112 11y ago
Don't fall for the same tricks that the establishment uses. Yes of course the wealthy pay more in absolute taxes than the rest of us plebs. That's because they HAVE so much more. My parents lived at a time where their savings earned 10% at the local bank. The stock market did better. Houses were 3x one earner's median wage. University could be paid for via a summer job. So of course they're paying a lot more in taxes as most younger people have negative wealth. But the older are paying 15%-25% on capital gains and dividends, while the young are paying 30% on income. The old are living off of huge pensions and medical insurance being paid for RIGHT NOW by income from the young. They did not save it. That is why most localities are pretty much kicking the debt can down the road: increasing things like property taxes, fines (e.g. speeding tickets), toll roads, etc. all the while providing less services. The vast majority of the federal budget is not Planned Parenthood, the EPA, or road costs. It is the military, Social Security, Medicare and Medicaid, the vast majority of which benefit the old. Even the military is more about keeping the US system propped up instead of ensuring our 'safety'. Two large oceans have always been more than enough.
- JoeAltmaier 11y ago
  This narrative doesn't ring true for me. The young are unemployed and poor. They are simultaneously paying for the old. With what? Our economy is becoming more automated and efficient with every invention. Its that economy that supports us all. Not on the backs of the (unemployable) young. We used to dream about a future where robots did all the work. The closer we get to that, the more folks lash out in confusion. Surely things are not equitable. That needs to be addressed. But old solutions of tax and make-work are all misdirected. This is a different world.
- cunac 11y ago
  for a start world is a bigger than old USofA so there are countries which use a tax dollars for a different purpose. 30% of young people income is still way less than 15-25% on capital gains and for sure you don't think that majority of people 40+ are living of dividends. Majority still works and is paying more taxes than that young person. The way you explaining just does not add up

by cunac 11y ago

tomp 11y ago

> I am pretty sure that currently taxes paid by baby boomers (51+ age) outweigh taxes paid by millennials. How about in 10 years, when they stop working and retire?

cunac 11y ago
then you will have same conversation with my generation (X) and after another 10 some other generation will have same conversation with millennials :-)

hiram112 11y ago

Don't fall for the same tricks that the establishment uses. Yes of course the wealthy pay more in absolute taxes than the rest of us plebs. That's because they HAVE so much more. My parents lived at a time where their savings earned 10% at the local bank. The stock market did better. Houses were 3x one earner's median wage. University could be paid for via a summer job. So of course they're paying a lot more in taxes as most younger people have negative wealth. But the older are paying 15%-25% on capital gains and dividends, while the young are paying 30% on income. The old are living off of huge pensions and medical insurance being paid for RIGHT NOW by income from the young. They did not save it. That is why most localities are pretty much kicking the debt can down the road: increasing things like property taxes, fines (e.g. speeding tickets), toll roads, etc. all the while providing less services. The vast majority of the federal budget is not Planned Parenthood, the EPA, or road costs. It is the military, Social Security, Medicare and Medicaid, the vast majority of which benefit the old. Even the military is more about keeping the US system propped up instead of ensuring our 'safety'. Two large oceans have always been more than enough.

JoeAltmaier 11y ago
This narrative doesn't ring true for me. The young are unemployed and poor. They are simultaneously paying for the old. With what? Our economy is becoming more automated and efficient with every invention. Its that economy that supports us all. Not on the backs of the (unemployable) young. We used to dream about a future where robots did all the work. The closer we get to that, the more folks lash out in confusion. Surely things are not equitable. That needs to be addressed. But old solutions of tax and make-work are all misdirected. This is a different world.
cunac 11y ago
for a start world is a bigger than old USofA so there are countries which use a tax dollars for a different purpose. 30% of young people income is still way less than 15-25% on capital gains and for sure you don't think that majority of people 40+ are living of dividends. Majority still works and is paying more taxes than that young person. The way you explaining just does not add up