• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Baby boomers are what's wrong with America's economy

Page 11 - Seeking answers? Join the AnandTech community: where nearly half-a-million members share solutions and discuss the latest tech.
How much do you want to bet that after the boomers are completely out of the workforce they will raise SS taxes?
 
J.Wilkins said:
That's awesome, I didn't say that but still... you're so used to droning on against other American imbeciles that you cannot even read anymore.

I'm not saying they are both just as bad, I'm saying that they are being driven by the same thing and in the end there is a multitude of evidence for that.

What good is a raised tax if i get to pay less taxes in the end?

The repeal of the ACA or Obamacare is obvious to me, Trump is a kent and wants to eradicate it for no other reason than that Obama pushed it through. He wants to get rid of his legacy because of how Obama ridiculed him after his continuously failed birtherism bullshit which ended with Trump holding his cock after declaring that his agents had found something extraordinary.

Trump is not ... he just isn't a person that can be compared to the likes of Obama. Obama was a statesman, and while he had high hopes going in, it always ends the same way, he can have a little bit, but in the end the actual people with the money get to have their say and not even with full support in the Senate, Congress and the presidency can you get shit done that goes against their interests.

You do remember that Obama had that originally and for two years, right?

I think you may be a bit naive, a president and even the congress and senate won't to jack shit unless the people that ensure their re-election will support them monetarily.
Click to expand...

Democrats did raise effective taxes on the wealthy early in Obama's first term. They did the same early in Clinton's first term, as well. As you say, there are plenty of loopholes, depending, particularly if you're a real estate developer.

You need to understand that there's a huge difference in the ideologies of the donors to the two parties & the basic way they do things. Hillary told her donors that she'd raise their taxes & they gave her oodles of money anyway. Repubs said they'd give their donors tax cuts & are currently being flogged to deliver at any cost. Dems' funding comes from diverse sources while Repubs' funding comes more & more from a select group of ultra right & ultra rich donors who have them right by the short & curlies.

It's the fundamental difference between the idea of good government & trying to drown govt in the bath tub so that Wealth can reign supreme.
 
You continually show why the younger generation is in the state their in, and why they harbor resentment for the boomer generation.

I hope boomers get exactly what they voted for.
 
J.Wilkins said:
It did? Can you show me numbers on that? I'm honestly curious because I have been led to believe that in reality they made more and paid less even though the rate was raised.

I'm not going to dispute actual numbers, I'm an empiricist and go wherever the evidence takes me.
Click to expand...

Under Obama total federal tax rates on the top 1% went from 28.9% in 2008 to 34% in 2013. I believe this accounts for Obama’s largest tax increases on the rich but I would have to check to make sure that doesn’t miss any other tax hikes.

http://www.taxpolicycenter.org/statistics/historical-average-federal-tax-rates-all-households
 
To make the 1% you only need to be making $400k a year. So, in America there are many people who fit that profile. It's only when you start to break it down even further that is when it gets a bit crazy. The 0.01% The Rothchilds, Carnegies, and Vanderbilts, they control the wealth in America.

Anyway, it's a waste of time to blame a group for what is wrong in our country. If you don't like where you are financially, change it.

The rich pay less because much of their wealth is tied into assets, like real estate. They get amazing tax breaks. Many own businesses that get great tax breaks. They have accountants that they pay a lot of money too. So, they can get leverage.

We on the other hand work for a paycheck. The more you make, the more you're going to get taxed. That is not going to change. Then, we buy shit like cars and boats that don't hold their value. Today, many Americans ask why is the middle class in such a sad state.

No one is going to come save you. The government could give a f*K about your feelings. IMO, we need to be just as smart. Read. Ask people who have money how they invest. Research real estate deals if that is your thing. It's a better alternative than complaining because at the end of the day, the rich will get richer while many of us will continue to get poorer.
 
Mai72 said:
To make the 1% you only need to be making $400k a year. So, in America there are many people who fit that profile. It's only when you start to break it down even further that is when it gets a bit crazy. The 0.01% The Rothchilds, Carnegies, and Vanderbilts, they control the wealth in America.

Anyway, it's a waste of time to blame a group for what is wrong in our country. If you don't like where you are financially, change it.

The rich pay less because much of their wealth is tied into assets, like real estate. They get amazing tax breaks. Many own businesses that get great tax breaks. They have accountants that they pay a lot of money too. So, they can get leverage.

We on the other hand work for a paycheck. The more you make, the more you're going to get taxed. That is not going to change. Then, we buy shit like cars and boats that don't hold their value. Today, many Americans ask why is the middle class in such a sad state.

No one is going to come save you. The government could give a f*K about your feelings. IMO, we need to be just as smart. Read. Ask people who have money how they invest. Research real estate deals if that is your thing. It's a better alternative than complaining because at the end of the day, the rich will get richer while many of us will continue to get poorer.
Click to expand...

Good, then we can start cutting benefits for the boomers then right? Or was your little spiel only for younger generations?
 
Mai72 said:
To make the 1% you only need to be making $400k a year. So, in America there are many people who fit that profile. It's only when you start to break it down even further that is when it gets a bit crazy. The 0.01% The Rothchilds, Carnegies, and Vanderbilts, they control the wealth in America.

Anyway, it's a waste of time to blame a group for what is wrong in our country. If you don't like where you are financially, change it.

The rich pay less because much of their wealth is tied into assets, like real estate. They get amazing tax breaks. Many own businesses that get great tax breaks. They have accountants that they pay a lot of money too. So, they can get leverage.

We on the other hand work for a paycheck. The more you make, the more you're going to get taxed. That is not going to change. Then, we buy shit like cars and boats that don't hold their value. Today, many Americans ask why is the middle class in such a sad state.

No one is going to come save you. The government could give a f*K about your feelings. IMO, we need to be just as smart. Read. Ask people who have money how they invest. Research real estate deals if that is your thing. It's a better alternative than complaining because at the end of the day, the rich will get richer while many of us will continue to get poorer.
Click to expand...

Well then why do we need a social safety net at all when the only thing holding America back from being a nation of 100% millionaires and billionaires is gumption?
 
I'd say we cant blame 20 yrs of people for the sins and stupidity of the government. SS contributions have always been too low. Couple that with our leaders selling out our workers and we have what we have. Raise SS contributions, tax imports, increase sin tax and put it all into SS. That being said bootstraps are real. Anyone who generally wants, and is willing to work to succeed can. This starts with good parenting. Maybe not to a 1% condition, but a comfortable life.The Wall St facade is much of the problem.
 
Last edited:
Boomers handing the keys over to Millenials:

ball_in_face-432x314.gif
 
I think in actuality it was more a slow death. The economy system was bound to die by really big early mistakes.

The first mortal blow: 1838-1860.
The second mortal blow: 1873-1900.
Then the final blow by: 1963-1971
The coffin is being placed in the mud: 2014-2030.
 
NostaSeronx said:
I think in actuality it was more a slow death. The economy system was bound to die by really big early mistakes.

The first mortal blow: 1838-1860.
The second mortal blow: 1873-1900.
Then the final blow by: 1963-1971
The coffin is being placed in the mud: 2014-2030.
Click to expand...

How do you square two of your four ‘mortal blows’ preceding an era where the United States economy went from being a mid tier economy to a towering colossus of unprecedented wealth?
 
fskimospy said:
How do you square two of your four ‘mortal blows’ preceding an era where the United States economy went from being a mid tier economy to a towering colossus of unprecedented wealth?
Click to expand...
The best analogy is that those were opium(morphine/LSD) injections. Sure, it made USA better, but it is trying to cure an incurable terminal cancer. It made something that would last 200 years, but less than 300 years.

United States is delusional, arrogant and cocky and it is dying.
 
tommo123 said:
why should the young work to support you? why should you get to retire at 65 when the young wont until they're 70 or maybe even later? especially as they won't get the same pension deals you will. even if the population grows the jobs market will be decimated in the next 30 years by automation. even mcdonalds jobs will mostly be gone in 5-10 years as they're already looking at automating burger flipping ffs
Click to expand...

which is pretty much how it is, no? IF those jobs won't exist for the younger kid, if the younger laborer is smart, they have been training for a more comfortable desk job, anyway. As you say, that labor force will no longer exist due to automation, so why should we worry about that position being filled with a younger person, and likewise, why should we treat the standards of retirement (chiefly: age), as the same? The US workforce has been angling for higher-educated jobs, less intense labor for decades.
 
jmagg said:
I'd say we cant blame 20 yrs of people for the sins and stupidity of the government. SS contributions have always been too low. Couple that with our leaders selling out our workers and we have what we have. Raise SS contributions, tax imports, increase sin tax and put it all into SS. That being said bootstraps are real. Anyone who generally wants, and is willing to work to succeed can. This starts with good parenting. Maybe not to a 1% condition, but a comfortable life.The Wall St facade is much of the problem.
Click to expand...

You can't blame the people who voted for incompetent politicians? That's odd because they seem likely exactly the people you'd blame.
 
I guess you can blame the entire group to make yourself feel better, *but better to look forward and bolster the fund. A 1c import tax on every imported item would close the gap.
 
I propose the following tax system.

Divide the population into twenty income tiers. Pair up 1-20, 2-19,3-18 etc.

Each group is responsible for 1/10th of the tax burden.
Distribution within the group is based on the ratio of their income compared to the group income.

Simple, fair.
 
Last edited:
BoomerD said:
I haven't read through all the posts...so I hope this isn't a repost...even though it's repost worthy...
Click to expand...

This is a cousin to the 'millennials can't buy a house because they eat too much avocado toast' argument. Both are ridiculous. The average student debt payment for millennials is around $350. The median rent payment has climbed about 15% since 2000 with no corresponding increase in income for the average person, especially those just starting out or at the lower end.

Research shows millennial spending is very similar to basically every other generation's spending at the same point in their lives. It just turns out they have a bunch of other burdens on top of that which previous generations did not. As a great example, when the boomers went to college lots of public universities were either free or very low cost to attend. That required significant tax outlays though, taxes the boomers didn't want to pay. So what did they do? Cut aid to universities while cutting their own taxes. What do you get from that? A lot more in student loans for the following generations.

Again, none of these outcomes were preordained, they were policy choices and the people who made those policy choices should be held to account.
 
sdifox said:
I propose the following tax system.

Divide the population into twenty income tiers. Pair up 1-20, 2-19,3-18 etc.

Each group is responsible for 1/20th of the tax burden.
Distribution within the group is based on the ratio of their income compared to the group income.

Simple, fair.
Click to expand...
I think you mean 20 income tiers, 1/10th of tax burden per pair.
Sounds solid, I'm in. Where do I sign up?
 
Jhhnn said:
How to cut taxes at the top, right? The top 5% currently pays 58% of federal income taxes. Table 6-

https://taxfoundation.org/summary-latest-federal-income-tax-data-2015-update
Click to expand...


I want fair distribution of tax. I am taking away all exemptions. Basic income is on the table of course but that is on the expenditure side.

When you look at the numbers, it is ridiculous that your effective tax collection rate is only 13%.

I currently pay 1/3 in income tax...

Do you understand what I am proposing?
 
Last edited:
You must log in or register to reply here.

TRENDING THREADS

Back
Top