Transfer Payments

Monday 7 November 2011 - Filed under Uncategorized

Does this mean we can stop the transfer payments from the young to the old?

The wealth gap between younger and older Americans has stretched to the widest on record, worsened by a prolonged economic downturn that has wiped out job opportunities for young adults and saddled them with housing and college debt.

The typical U.S. household headed by a person age 65 or older has a net worth 47 times greater than a household headed by someone under 35, according to an analysis of census data released Monday.

While people typically accumulate assets as they age, this wealth gap is now more than double what it was in 2005 and nearly five times the 10-to-1 disparity a quarter-century ago, after adjusting for inflation.

Bravo, old people. You’ve successfully fleeced your descendants out of their hard earned money, yet continue with the “but we’ll starve in the streets if we don’t steal tax dollars from young workers and give it to us under threat of extreme force” bullshit.

httpv://www.youtube.com/watch?v=L3yHa8brzNA

No, you’re not a number. You’re a disingenuous thief who steals from your children and grandchildren who’ll be paying off your welfare for decades to come. Fuck off, you old fart. You haven’t earned shit. Your money was spent long ago. All you’re doing now is strong-arming the future of this country to pay for your golf outings and all-you-can-eat lunch buffets. We really appreciate it.

2011-11-07  »  madlibertarianguy