The elderly are physically and financially healthier than ever. So why do their needs keep taking priority over younger generations?
The average net worth of a person aged 65 to 74 was $1.8 million in 2022, up 178% from the same age group in 1989, adjusted for inflation.
in 2019 the federal government spent more than $29,000 on everyone 65 and over through Social Security, Medicare, civil service and military and retirement benefits, five times what it spent on every child under 18
The ageism in this economy is kinda wild. If all shares are owned and all landlords are over 55, the old people call all the shots. They make decisions on everything. They are the recipients of all the money in the economy. And if that wasn't enough, they get all the government handouts in addition. This makes it so wild that some people are calling for tax break on retiree property tax - why would they make the generational divide even wider?
As soon as they're outnumbered, they'll be fucked politically.
I know. This unfair/artificial rent-seeker grab is partly why we gotta fuck the boomer. Scalp them, steal everything they've got.
Step one of the revolution - leave your parents' basement.
Been done, browski.
Also:
maybe about the time you opt out of social security?
The power move here is to opt out of paying into social security.
Why do you care? Aren't you hiking in Iceland?
morality, intellectual consistency, honesty, truth. You know, all those virtues your generation abandoned
You forgot larping.
The article uses an average to come up with 1.8 million? How about the median? Come on. Also "adjusted for inflation." What, using government numbers?
Yes yes, the cope is real
And.... The $29,000 figure lumps the poor cat food eating seniors in with the entire civil service leviathan and military industrial complex leeches.
It’s definitely frustrating for younger people. Older generations have had decades to build wealth, while younger people are dealing with much higher costs just to get started.