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> it's ethically wrong to financially hurt our elderly. Why would it be more wrong to hurt the elderly than the young? The elderly are far wealthier
by namdnay 5y ago
> it's ethically wrong to financially hurt our elderly.
Why would it be more wrong to hurt the elderly than the young? The elderly are far wealthier
- cableshaft 5y agoYouth don't have as much (or any) savings to lose and can switch jobs / demand a raise to make a higher wage. Anything they do have saved is probably invested and increasing in value along with inflation. Elderly just have less money to eke a living on, and can no longer get a job (most likely). Everyone gets hurt by inflation (well, maybe not if you have a ton of debt), but the elderly are stuck and can't do anything about it.
- uticus 5y ago> The elderly are far wealthier Ignoring the stats, please think long term about your implications. Let's imagine you are a young person. Your wage increase means you have $20 to save for retirement, vs $10. However, if inflation remains average overall, by the time you get to retirement, your $10 buys $5 worth of stuff. On top of that, you are now old. A young person decides you are able to pay more because you've saved more (having had more time to save). Your $10 in retirement is reduced to $8, to buy $5 worth of stuff.