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> Why America's economy is soaring ahead of its rivals Because young people are not taxed to pay for retired people vacations. And because there is less of a c
by arkh 2y ago
> Why America's economy is soaring ahead of its rivals
Because young people are not taxed to pay for retired people vacations. And because there is less of a credential obsession for most jobs.
So you get people starting to work younger: they create value earlier instead of being a pure weight on the system.
They're taxed less so they keep more of their money so they're established (house, business etc.) earlier and can spawn a new generation earlier.
Most of the socialized states have become gerontocracies where most of the GDP is funneled from the young actives to the retirees. Be it from socialized healthcare (old people use the majority of it), cushy retirement benefits or the simple fact they own most property and can rent it and lobby to keep prices high.
In France, median retirees have enjoyed better revenues than median working people for multiple years already. What was created so old people who can't work would not be destitute has become a life goal because it's "when you can start to enjoy things". 50 years ago, we had 3 active people paying for 1 retiree. Now those 3 people? We only got 1.7 active people paying for each of them.
Either the current working generation decides to stop the cycle and sacrifice themselves by continuing to pay for baby boomers and they forego their own "end of life vacation" so their rare grand children can benefit from their own work. Or the country is a third world economy next century.