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Raising taxes has little effect on the older generation but dramatically hurt the working class. Retirement benefits are barely affected by employment taxes or
by user5994461 8y ago
Raising taxes has little effect on the older generation but dramatically hurt the working class. Retirement benefits are barely affected by employment taxes or income taxes. Most of the old wealth come from capital and/or renting properties.
That being said, I'm not in the US but I am pretty sure the US is not that different from here.
- bumby 8y agoI'm in agreement. That's essentially the point I was making, although the commenter specifically said it didn't have to come from income taxes. With that said, I would assume other forms of taxation like a value-added or consumption tax would disproportionately affect younger citizens to the same effect