4 ms·

Folks wanted boomers to get out of the way. Many of us have or will soon. This opens up positions at the top end and starts returning the savings to the general

Folks wanted boomers to get out of the way. Many of us have or will soon. This opens up positions at the top end and starts returning the savings to the general economy.

nradov 3y ago
Savings from what? Boomers will still be consuming a lot of resources for a couple decades yet. But they won't be productive or paying much in the way of taxes anymore, which means that younger generations will have to endure higher taxes and/or inflation to support the Boomers. Someone has to pay those assisted living facility bills. (And to be clear, I am not arguing for abandoning the Boomers or anything like that.)
- patmorgan23 3y ago
  Social Security, pensions, and traditional IRA/401k withdrawals are all taxable.
  - deleted 3y ago
    [deleted]
  - datavirtue 3y ago
    So weird.
  - deprecative 3y ago
    And all of these will be gone when Millennials retire. I'll retire when I die. Social Security? Gone. Pensions? Don't exist. 401k? Pennies. So, there's not going to be much there for us.
- jleyank 3y ago
  Dump on boomers if you’d like but we didn’t create social media. The pipes, yeah, but the kids and grandkids created the environment we live in. Boomer hackers made tools. Their descendants sold ads and collected data.
  - laratied 3y ago
    This is delusional. The boomers voted themselves entitlements that is going to practically break the system. I am GenX and don't have social media but this is such standard Boomer thought. Just no idea how much you are fucking everyone over. Niall Ferguson even mentions how the boomers have basically broken the generational social contract. Previous generations never borrowed everything they possibly could from their grandkids and the unborn. Generation Me.
    - jleyank 3y ago
      Not me mate, sorry. Spent 40+ years working for the man paying my taxes. Didn’t vote for the monied party, so lost a whole lot of elections. Given the view of techbros here we’re both posting in the wrong place. Get involved. Vote. Change things (back).
mensetmanusman 3y ago
Work to live. I hope you have an enjoyable retirement :)
adammarples 3y ago
This is not useful. Boomers transitioning from helping generate supply, ie. Working, to generating demand, ie spending their savings - all that does is increase the money in circulation while decreasing the stuff. Inflation is not going anywhere for some time.

Folks wanted boomers to get out of the way. Many of us have or will soon. This opens up positions at the top end and starts returning the savings to the general economy.

nradov 3y ago

Savings from what? Boomers will still be consuming a lot of resources for a couple decades yet. But they won't be productive or paying much in the way of taxes anymore, which means that younger generations will have to endure higher taxes and/or inflation to support the Boomers. Someone has to pay those assisted living facility bills. (And to be clear, I am not arguing for abandoning the Boomers or anything like that.)

patmorgan23 3y ago
Social Security, pensions, and traditional IRA/401k withdrawals are all taxable.
- deleted 3y ago
  [deleted]
- datavirtue 3y ago
  So weird.
- deprecative 3y ago
  And all of these will be gone when Millennials retire. I'll retire when I die. Social Security? Gone. Pensions? Don't exist. 401k? Pennies. So, there's not going to be much there for us.
jleyank 3y ago
Dump on boomers if you’d like but we didn’t create social media. The pipes, yeah, but the kids and grandkids created the environment we live in. Boomer hackers made tools. Their descendants sold ads and collected data.
- laratied 3y ago
  This is delusional. The boomers voted themselves entitlements that is going to practically break the system. I am GenX and don't have social media but this is such standard Boomer thought. Just no idea how much you are fucking everyone over. Niall Ferguson even mentions how the boomers have basically broken the generational social contract. Previous generations never borrowed everything they possibly could from their grandkids and the unborn. Generation Me.
  - jleyank 3y ago
    Not me mate, sorry. Spent 40+ years working for the man paying my taxes. Didn’t vote for the monied party, so lost a whole lot of elections. Given the view of techbros here we’re both posting in the wrong place. Get involved. Vote. Change things (back).

mensetmanusman 3y ago

Work to live. I hope you have an enjoyable retirement :)

adammarples 3y ago

This is not useful. Boomers transitioning from helping generate supply, ie. Working, to generating demand, ie spending their savings - all that does is increase the money in circulation while decreasing the stuff. Inflation is not going anywhere for some time.