Sunday, October 20, 2013


How older generations rip off the younger.  Several schemes:

1.  Social Security.  People get more money than they put in.  Why do we even have this system?
2.  Low capital gains taxes.  People in their 60s have five times as much wealth as those in their 30s.  All those capital gains are taxed at a lower rate than the folks who are working for income.  The guy has a good proposal to tax capital gains as income and lower the corporate tax rate to zero.
3.  Mortgage interest deduction and any policies designed to help homeowners.  He doesn't mention this one, but every cent you give to a homeowner is a cent out of the pocket of a potential homeowner.  There is no way around this logic and it obviously this benefits those who own homes (ie older generations) against younger one's.

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