Are baby boomers stealing the country's future : Swingers Discussion 2181551041
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TOPIC: Are baby boomers stealing the country's future
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"Maybe the younger geeneration should go out and get jobs to sustain them in their hour of need. Seems to me the baby boomers have made life for the younger generations pretty easy for them to mmake their own way."

Oxy-moronic much?

1) It is because of the baby boomers that our economy is in the toilet. Who were the ones in power? Who were the ones who fought Korea, Vietnam and then a cold war with the Russians and now have left my generation with the bill?

Answer: Yours.

2) You say pay for what you want? Ok, pay for these things. Pay for it with your own wealth being taxed for it, your own social security benefits used to pay for these useless wars.

In ending:

Thank you baby boomers for keeping this nation financially secure... Thank you for providing us with a government which is based upon sound principles of paying for what you want... And treating men with the dignity they deserve by paying a man a living wage... No matter what job they do.... They worked after all. Thank you for teaching this working man's children that if you work, you will be provided a wage which improves your life and doesn't have you begging for free stuff.

No, I think the baby boomers are the greatest generation of entitlement whiners out there. Consuming everything and leaving nothing behind.

Hazle Township PA
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Maybe after the Socialist and Chief gets out of office they can find a job.

Pittsburgh PA
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Berryville VA
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Stan Druckenmiller, the former chief strategist for billionaire George Soros, is known for having one of the best long-term track records in the hedge fund industry.

Now, the normally publicity-shy investor is hoping to create another legacy: helping to avoid a financial disaster for the country's younger generations. Druckenmiller says the mushrooming costs of providing benefits to aging baby boomers and older generations will bankrupt the country's youth.

"I am not against seniors. What I am against is current seniors stealing from future seniors," Druckenmiller, 59, told Bloomberg News. Forbes estimates that Druckenmiller, a boomer himself, has an estimated net worth of $2.7 billion.

Unsustainable spending will create a financial crisis much worse than the 2008 meltdown, he said, calling it a "much, much bigger storm that's about to hit."

One of the worrying trends he cited is a surge in government spending on programs for the elderly, even as the first baby boomers are just hitting retirement age.

But a tidal wave of retiring boomers is about to hit the U.S. Roughly 10,000 will reach the retirement age of 65 each day through the two decades, according to the Pew Research Center. By 2030, 18% of the country will be senior citizens.

Demand for entitlements is already on the rise: Social Security, Medicaid and Medicare made up 44% of the government's $3.7 trillion in spending in 2011, a jump up from 34% in 1990, Bloomberg said, citing the U.S. Bureau of Economic Analysis.

Seniors "keep getting more and more transfer payments" from younger generations, helped by what Druckenmiller calls a "very, very powerful lobby."

So what can be done? Druckenmiller wants the government to change eligibility ages for Social Security, for one. Capital gains and dividends should also be fully taxed, he said, because retirees usually benefit more than other age groups from that income.

He also supports a federal consumption tax because the elderly buy the same amount of stuff as younger people but end up paying less in income taxes.

Druckenmiller told Bloomberg his next step is to take his message to younger generations.

"With the proper education and with proper voices out there," he said, "we could have 40 million kids marching down to Washington."

Pittsburgh PA
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TOPIC: Are baby boomers stealing the country's future