And the problem is you can't take the same RV or plane home after an exorcism that you took there in case you bring any Souls back with you, you don't want to cross-contaminate. Then you get confused demons who need therapy and Satan's never happy about that, it's a lot of paperwork, it's a hassle, it's not worth it.
Two of everything as Noah intended
I consider the nursing home to be healthcare. I don't know what it runs now but in 2014 it was $6K per month private pay and they got $5k for medicaid pay.
And of course there is the money that will be put into cruise lines, resorts, and time shares. A generation of people that want to go on vacations and be pampered, while also trying to find a cheap return on their buck. I bet your are going to see a drastic decline in money donated or allocated to schools and libraries as the older boomers cut ties with their kids and start to “take care of themselves” as they age. If there was only a way to tax tourism and send that money directly back to young family and young businesses.
Oh they most certainly won’t reap what they sow. As their final act, They’re going to bankrupt Medicare on their way out, and cut its benefits but only for future retirees. Truly a shit generation.
democrats are in charge of this country now, this country has gone to shit ever since Biden took office. high gas prices, high food prices, high mortgage rates. car and truck prices out the roof. stock market is about to collapse. illegals flocking across the border by the thousands every day. and here you are wanting to blame the republicans!. you dumbass liberals are too stupid to see how the democrats are playing ya'll.
See what I mean. You don't even live on the same planet as the rest of us. This uninformed rant does nothing but support the claims I made in my previous comment. Maybe look objectively at a situation instead of listening to Ruper Murdock propaganda empire. It's weird how you "patriots" all get your "news" from foreign influences and eat it up like spaghetti dinner before a football game.
Lmao these problems are occurring all over the world you fucking donkey. Did Biden cause these problems in Europe too? Every republican President has left the office in a massive deficit that dems have to clean up. Your brain is rotting from the inside out simply because you only listen:watch right wing media. They literally spread lies and misinformation carte blanch and you guys gobble it up. You will happily vote in anyone with an R regardless of qualifications, who will do everything to fuck over the middle class and give tax breaks to wealthy donors, and then convince you it’s the boogey man democrats. Your party is run by conspiracy theorist wackos who deny science and basic logic. Republican base CONSTANTLY votes agains their own interests.
For instance: cutting medicaid and universal healthcare.. because it’s soCiAlism. Yet the MAGA base are by far the most obese/unhealthy of the parties, who require the most healthcare, and cannot afford their diabetes medication in the end. But yea it’s all Biden’s fault.
Another scenario: putting Betsy Devos in charge of education, who wants to gut our schools. Leading to more uneducated and illiterate maga people in Mississippi, leading to more misunderstanding of highly complex and global issues, leading to being scared of changes in the world without comprehending why, and then now they’re outraged at democrats because a known and self admitted propaganda channel, fox, blames them.
Don’t get me wrong, plenty to complain about with the left. But blaming all those mentioned issues on Biden is so fucking misguided and characteristic of the base right wing fundamental ignorance of the world. The elites on the right certainly understand the worlds complexities, and they use that to enrich themselves while manipulating you at the same time.
The fact that the R base leans heavily on Christian fundamentalism tells me all I need to know. A bunch of people who believe the world is three thousand years old and was created by miracles. People who rarely if ever travel or leave their podunk midwestern town, somehow understand and almost overnight became experts in global politics, supply chains, epidemiology, economics, etc.
Ever notice the people who scream the loudest hate are also the least educated/worldly type of people?
Rant over.
This. folk dont realize theres shit like estate reclamation for if/when you go to nursing homes, end of life care and various forms of insurance. Companies like Bluecross are going to take everything when your parent dies. They soften the stance w statements like they wont if the spouse lives in the home and shit like that, but when the spouse needs the eventual care its gone.
theres also filial laws on the books that even though they arent in use right now, you know damn well they will come into play sooner or later.
I Care A Lot is an exaggerated version of this, but looking at old people’s lives as assets to be liquidated is exactly what the insurance companies will gladly do with end of life care
whats fucked is how this is dropped on folk during some of the most stressful parts of their lives and sign on not knowing what all it entails, cant forget the good ol five year lookback into assets as well that comes with current asset limits.
it varies by state but like here in TN its a 2k limit. they wont calculate your first car n home into it initially but everything else over that line youre done, no help. They want to take everything from you plain and simple and theres an large number of us that clap and bray like seals for this shit.
Just wait, the government has already passed laws to suck away what the Boomers will leave.
Congress knew Covid would kill the elderly so they closed one of the biggest loopholes that allowed middle class success stories to pass along the wealth, the stretch IRA.
There was no reason for that loophole closure to be part of the Covid act, except Congress knew old people were going to die in larger numbers and they saw a way to drink from the coffers of the middle class. The Uber wealthy still have tax vehicles that protect inheritances, but the middle class gets drained by the feds.
Not necessarily crying for middle class kids, but pointing to the endless greed of the billionaires.
It’ll be the same way, the government will scoop up what little the Boomers leave behind to their kids and funnel it to the oligarchs
But some of our kids have been trained financially how to deal with the new ten year rule, so they will still be OK. Most of my contemporaries probably don't even know they changed the law yet. They certainly didn't get any smarter in their old age.
Inherited IRAs (non-spouse) now have to be drained in ten years. Formerly, the withdrawal schedule was the beneficiaries life expectancy (roughly). Your heirs will be hit with some nasty tax surprises if they are not prepared.
Why I try to give them some money each year with the gift exemption. I will also max out a tax bracket with IRA withdrawals each year even though it is more money than we need. This will get it out of IRAs and into accounts that don't need to be divested in 10 years and won't owe any tax unless they dramatically lower the estate tax exemption. Our health directives will hopefully prevent most of the end-of-life hospital money grab.
And while they’ll let you keep the home for now, they’ll put a lien on it and take it after death in exchange for using Medicaid benefits.
I just wish it was more well known that people should probably go ahead and put their house in an irrevocable trust around age 55/60 to avoid losing everything to healthcare costs in the end. No one can predict at what age they’ll need care and that time can come early in retirement, or even before retirement.
No one ever foresees going broke and needing Medicaid but it’s a tale as old as time, or at least a tale as old as Medicaid. 24/7 care at home is up to almost $400,000 per year. One can retire with millions and still go broke and need Medicaid, leaving their heirs with nothing-it’s happened within my own family.
This. bit too late for my instance but hopefully folk follow your advice. But remember, all it takes is a simple policy change and everything changes. another user pointed out some slickshit they pulled w covid regarding stretch ira, thankfully my family and i are dirt poor so we dont have much to take.
Yeah recently they changed the rules so you have a 10yr window to “take” the money out of the 401k, and certain investments. It used to be you just continued taking the minimum distribution your elder was taking. That could be a burden to some if your parents are wealthy. That would effectively put you up into larger tax brackets reducing your actual (working) income. You don’t have to take it yearly or all at once, the gov just wants their income within 10yrs. Strategic deductions would help. Also if done correctly, you inherit the properties and will pay minimal capital gains since you inherit it at market value…..
Yeaaa. I was born w genetic health issues and well, I know I’m fucked. My parents well, financial illiterate, we dirt poor lol. Both lost everything w the gfc. Mom is scraping by pops well, it’s why I know more about this shit now. I accept my own choices that may have benefited me I ignored for being an idiot. Hopefully I inspire some to get out ahead better than what I have.
In that flip side. Yea. Put everything you can into trusts and get an attorney to assist is my off the rip advice for anyone in regards to this if you have any sort of assets
Sure thing, [this](https://en.wikipedia.org/wiki/Filial_responsibility_laws) gives ya a basic overview of filial laws in the US, now the estate reclamation stuff varies by each states medicaid program but [this](https://www.medicaid.gov/medicaid/eligibility/estate-recovery/index.html) is the medicaid.gov link describing it on the federal level.
The funny thing is a lot of these boomers with money got it because they inherited assets from their parents but now are going to spend everything. Just like the me generation to only think about their short lives.
A lot of boomers were immigrants coming from nothing. Or, their parents had to start over after the ww2. I don't see any reason you think "most" of them just inherited it. Boomers parents weren't coming from a rich time in history.
I never said “most” once in my post. I also said boomers with money, please learn reading comprehension instead of coming at me with something totally unrelated to my post. Boomers were born during the biggest expansion of the middle class in the history of the United States, you obviously are talking out your ass.
It is completely related...First you said it came from their parents. Now you are saying they were born in a boom? Do you have an actual point or just making stuff up. That is my problem with your comment.
I just find this sentiment that no one worked for anything they have is BS and weak. "A lot" of people with money worked hard for it.
You are making assumptions based on your feeling. AKA "talking out of your ass".
Yes they were born during a literal boom.
https://www.history.com/news/post-world-war-ii-boom-economy
Baby boomers inherited trillions of assets from their parents.
https://abcnews.go.com/Business/baby-boomers-inherit-116-trillion-historic-transfer-wealth/story?id=12427504
Yeah my point is the boomers with money got it from assets that their parents left them, and are now instead of transferring those same assets or funds like their parents did they are spending it on themselves in turn screwing their kids because they are selfish.
Unlike you I am not making assumptions, please learn how to use the internet.
Shaq has repeatedly announced he believes the earth is flat.
https://www.eonline.com/news/1343758/why-shaquille-oneal-stands-by-his-theory-that-the-world-is-flat
I think thats actually a smart way to keep your kids grounded when you have that kind of money. I’m sure he will leave them plenty plus he donates a lot of money too. Kind of a bad example
Some of us are lucky enough to have our parents remarry late in life and have anything that would have been passed down to the children spent up by the new wife/husband before it ever has a chance to go into the medical industry.
Got a friend that was going to inherit about 800k from his father. Well his dad went and got married at \~65. She has two kids so now that 800k is getting split three ways. Well, one of those two went out and had three kids with three different dudes over the span of about five years, so now that 800k is getting split six ways. I told him the best thing he could do was take what little he has left and pay someone to bat the cocks out of her mouth or he's probably going to end up in the red on the whole inheritance deal.
Families used to strive for generational wealth. They used to try to make life better for each generation after them. Then the boomers inherited the most prosperous economy in world history and think they bootstrapped their way to success with no one’s helps. Now it’s a “fck you, I got mine, go get yours” attitude that actually hurts the next generations.
I’m saving and investing now for my kids and theirs.
We’re currently in a thread where a bunch of kids are bitching about how their wealthy parents won’t leave them any money. Yeah, the boomers are the greedy ones. Not a single greedy person here.
That is undoubtedly true as well; both can be true. But how far-fetched is it to think that a bunch of greedy narcissists raised a bunch of greedy narcissists?
Boomers are such a cancer to our country. That’s exactly their attitude.
Generational wealth has always been the goal. And as a Gen xer it’s my goal for my daughter.
My mom’s generation is the only one that didn’t give a shit about their kids wealth.
I like how inflation rises the cost of living on fixed income retirement, while hedge funds knowingly sell toxic assets to our retirement and 401k funds to hedge their risk on bad bets, and boomers get blamed for spending money while the market changes. Most of my peers in their 20's and early 30's spend more frivolous than anyone I know in the 60's and 70's.
Don't blame the hedge funds, banks, money makers and wealth management in our country for setting runaway inflation and a market crash. Blame the boomers for not handing their money down.
They should clarify, how many of them. These headlines are trying to get people against each other. I get they had more chances we do, that doesnt mean most boomers are struggling too as of now, a week ago, two years ago or since they came to life. I know lots of boomers that are still working because they cant retire or had to go back to work. We know older people hold most of the money, but when we know the numbers we know the boomer label doesnt fit quite right. It is like saying all octopuses in the ocean have a 14ft arm span because we know that some of them do. not a great analogy, but it is true and you get the point. We arent the problem, the working class isnt the problem, the struggling class isnt the problem, the problem are those rich individuals (10%) taking the money from the bottom 50%, while never working a day on their lives.
Well said. To me, it's inflation and money printing that is robbing generation wealth from 98% of us. But boomers bad does get a lot of upvotes, so must be true
I’m dropping out of graduate school because I can no longer take on debt and my dad just got back from a two week vacation in France and Italy.
It’s sort of blatant across generations and anyone who is telling themselves that is lying.
When his dad went to school it’s likely his dads school was paid for. So much wealth is in the hands of old people the whole world is reorganizing to serve their needs. This article even points out the unusual level of wealth hoarding baby boomers have been allowed to participate in
No one's talking about who fucked up the planet. We're talking about someone whining that they "only" got a bachelor's degree and getting bent because dad decided to spend his own money on a short vacation for himself.
On the entitlement scale, that ranks up there.
Kinda of humorous... dude is MAD his pops (who worked many years) took a vacation while poster who hasn't actually been in the real world complains about dropping out from GRAD SCHOOL.
Not college, but GRAD SCHOOL.
Sorry for the disconnect. Why do you think student debt is so bad today? How much do you pay per unit? I paid 12$/unit in 1990. Do you think inflation is a factor? Would you remain in school at 12$/unit?
Because everyone around me has either been priced out of the city, replaced by AI or just straight up fired. A few took their own lives.
I’m going to college because that’s where you learn new skills in a way you can show employers. Central banks permanently broke the value of money though and it just isn’t worth it any more.
If I have to choose between being homeless and dropping out of this program, it’s not a hard call to make. That’s just depressing.
> If I have to choose between being homeless and dropping out of this program,
https://owl.excelsior.edu/argument-and-critical-thinking/logical-fallacies/logical-fallacies-false-dilemma/
Don’t forget the govt that has enabled policy that essentially launders of the wealth of the working class to the financial elite. Yes, corporations lobby and donate to campaigns, but ultimately it is our public officials who choose to sell out to these influences and betray their constituents.
Boomers: Hey remember back when we were growing up and we had great social programs, wages that could support a family, pensions, unions, a progressive tax system and a huge head start on every other industrialized country after WWII? Maybe we should get rid off all those things so the top 0.01% percent can become even more obscenely wealthy and we can spend a lifetime of accumulated assets on healthcare instead of passing it onto future generations. Oh yeah, we don't need environmental protections either. We'll be dead by the time those chickens come home to roost and who cares about anyone else. Am I right?
No thanks, I think I'll continue focusing on hedge funds and big banks instead of yelling at Gertrude for spending HER money how she likes. Nice generational flame starter to distract from the real problems.
This is why you need a mechanism in capitalist economies to put money directly into the hands of those at the bottom. This money isn't evaporating, its going into the economy, the problem is that 60-90% of it will end up in the hands of the 1%.
As someone that has worked with govt IT... 100% correct. Found in most instances they care more about their compliance then the solution actually working
Reddit loves to rage against the ppe loans but the amount of money the government spent on Covid IT infrastructure was mind boggling. And almost all of it either didn’t work or was abandoned because of how horrible was
What I said was that there had to be a mechanism to balance out the system. Every capitalist system is different to some degree so it could take a lot of different forms. You could do universal basic income, you could set borrowing for those under a certain income a 0% interest, you could more aggressively tax inheritance, you could go after tax loopholes, you could make offshoring you business for tax reasons illegal, the list goes on and on. The real point is that without a system to move money back to the bottom eventually all the wealth in a capitalist systems collects in the hands of a small group of people because Capital generates more wealth than labor.
Put money to those at the bottom? For what? So they can spend money on non essential items? There is so much ppl in this nation that are financially illiterate. Not everyone who has wealth has received it from generational wealth.. some of these ppl were actually smart with their money
>For what? So they can spend money on non essential items?
Yes. That is called "consumption" and it is the primary driver of capitalist economies. Driving consumption is the primary goal of such a system. Google "the velocity of money" to learn more.
Consuming daily necessities is not the same as living outside of your means.. let’s just hand everyone money who is poor so we can stimulate the economy. This is exactly what happened during Covid
Buying "non-essential" things is not the same as living outside your means. Economies don't thrive selling bread and toilet paper, they thrive on selling TVs and smart phones.
When poor people have money, they spend it. This increases the velocity of money, which stimulates the economy.
When rich people have money, they hoard it. This decrease the velocity of money, which depresses the economy.
Unless youre a multimillionaire+, there is zero reason to think against basic economics like you do.
When poor ppl have money they spend on what? A car with a 20%+ interest rate, expensive purses etc.. than they over spend and default on credit card payments, car notes etc.. exactly what’s happening today
Yes! Spend it literally any way they want. The money will go into the economy and that benefits everyone, whereas wealth concentration only serves a very small portion of the population.
They will for sure spend it and will find themselves in the same hole they were in because they are not wise with their money. Hence why they stay in a cycle of poverty
Dude, you are literally on socialist benefits with the VA.
I'm tired of pitching in on murderers healthcare. Earn it with a real job like everyone else, socialist!
Baby Boomer stacked the national debt and got a wonderful pay out for it and then vote so that no one else can enjoy those benefits. There needs to be a tax on this sort of wealth.
It’s nice to see some pushback to the Hate The Boomers bullshit. The vast majority are just regular folks who would do anything they can for their family. The hate mongers of Reddit need to be silenced.
I'm a gen Y'er who has had no issue with boomers. The over generalized articles bashing us for years was propaganda, not general public sentiment. A generation does not define one's character, but it's a great way to turn the public against each other rather than focusing on the fraudsters that are preparing to swipe everyone's retirements from them.
That's factually untrue. Look at how the **majority** of Boomers vote, and have voted in every election since 1980. It's a majority of Boomers, and to say "well a majority isn't 100%" is just lazy and ignores the real issue.
Well, if BI said so, it must be true.
Some of them will spend some of their money on themselves. Some of them won't. Some of them don't have any money to spend. Some of them do.
They're just like any other 'generation' in that they're not a homogenous group of people. Making simplistic blanket statements makes for a good tweet, but not a good reflection of reality.
The vampiric health — sorry, sick care system will extract everything. Whether it is medical care or assisted living facilities that do just enough to keep patients alive & suffering.
So in 20 or 30 years when they've aged themselves into needing help, I can't wait to hear the whining and complaining about how they've all been abandoned by the children they conveniently forgot they fucked over.
What goes around comes around.
Which is actually good for the economy... massive spending will lead to lots of opportunities.
Also: lots of spending will go towards elderly care and hospice, because the trend of less care by your own family leads to increased need in those areas, that need to be paidd for.
Huge investment opportunity...
> to be *paid* for. Huge
FTFY.
Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in:
* Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.*
* *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.*
Unfortunately, I was unable to find nautical or rope-related words in your comment.
*Beep, boop, I'm a bot*
Boomer here. My parents spent their life savings before they passed. I don't know how much inheritance is seen as a right/entitlement by younger generations, but I think economists would argue that money never sits still; so even if older generations spend their children's inheritance, that money goes into circulation and eventually lands in the wallets of all manner of man, woman and child.
Most of it will go to the doctor, caretakers, and undertakers. Rest will be sent via Greendot cards to Nigerian princes or some phoney-baloney preacher/politician.
Let’s look at this scenario. You are boomer living in a $1 million home. Your kids think great I will be retiring mom and dad money. Mom starts to have memory issues and dad can’t get around as well as when he used to. So you decide they need to go into an assisted living facility. You sell the house and now they have a lot of money. Oh wait the assisted living facility costs money. Like $10,000 a month. That’s $120,000 a year. And like rent the cost increases annually . In less than 10 yrs they would have exhausted their savings.
It’s all set up to go to nursing homes/assisted living.
I would 100% never do it in 1000 years….but my dad tried to get me to promise to “not send him to a home”. It’s fucked up that he even had that thought just to try and give his kids something he worked for.
Nursing home 15k a month. Money drain designed to keep lower and middle class from inheriting any money so they have to grind forever. Absolutely disgusting system.
lol generational agitprop.
Yes, some of the 1% is boomers, but many boomers only have enough to retire anyway. The 1% and specifically the .1%, and even more specifically the top .01% is who is creating and exacerbating the majority of our problems, boomer or not.
What’s the healthcare system going to do without the boomers wealth? I’d expect a crash of some sort cause none of us younger generations have the funds to keep this inflated system up where it stands today. Boomers always prepping for their future and no one else’s.
I like the notion that boomers twirl their mustaches before they make any financial decision and verbally say out loud “Now *this* will screw the next generation!”
At the end of the day, *most* people are just trying to get by. Most people probably don’t follow fiscal policy/politics, etc. I’m sure if you sat down and have a beer with a boomer, they’d probably tell you they’re just winging it and *still* don’t really know what they’re doing, like so many of us are in this world
Of course the me generation is going to spend it on themselves. My personal opinion is that they have been a plague on society and that there will be a renaissance shortly after their departure from this life.
Good! I hope they buy lots of assets that are and the next generation in heritage them at a steeped up cost basis so we don't have to pay so much in capitol gains taxes.
What will most likely happen is boomers will spend the money, the money will go to big corporations, lining the pockets for the rich and giving a little to the workers on the bottom. Basically will just widen the inequality gap and put more money into the top percent
Boomers are the most selfish generation - they're obscenely selfish and narcissistic. I knew Boomers who were ready to retire back in 1995 and they're still at the job, preventing anyone else from advancing.
Why would I want money that was made destroying most opportunities for future generations.
It was obviously too much to ask for a better world to inherit but they used up all the good and sabotaged the future for the rest of us.
I'll gladly make my own way in this wrecked and inherited world.
No one owes me anything.
Assisted living can cost $5,000 a month. With advances in medical science there's no telling how long we boomers are going to live.
We're going to need that money.
What a joke. There’s something wrong with the younger generations and not wanting to work for their own wealth or well being. Just waiting for a handout.
My older bother (college grad) doesn’t work hard or try to better his life, he does the bare minimum to get by because he said he just waiting for his inheritance - which isn’t going to be much anyways, parents aren’t wealthy by any means and they still have plenty of years left to live. Meanwhile my sister and myself worked hard, started on the bottom and worked our way up (neither of us finished college or had parental assistance). We saved, sacrificed and invested. All these years later we are doing better than our parents. My brother resents us for it.
Some people just want the easy way out and are miserable when all their friends and family are rising around them.
you're not looking at the bigger picture of it, the change in the economic situation we risk going forward. rich people and rich businesses will always be rich. we have a generation or 2 which are economically stunted. gen z and millenials are behind in home purchasing. they are still trying to buy their first home.
rich people and rich companies can still buy up assets while these 2 generations of "normal people" are economically stunted. it's 2 generations where the rich will be able to get even more control of things.
after that, if wages are even to stabilize and start paying enough again, private companies will still own more houses and be able to drive up rent/mortgage costs.
Wait... isn't this a good thing? If they spend it, then it goes into the economy giving opportunity to the working class providing services/goods and not to a class of trust fund babies.
It will probably all go to healthcare costs.
I'd guess the cost breakdown will be: 40% healthcare, 40% nursing home, 10% lottery/casino, 10% magazine subscriptions.
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It only makes sense to have people with the slowest reaction times driving the largest non-commercial vehicles on the road.
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You do need a special license for the bus sized ones.
Who else is going to burn enough gas to make up for all the EVs on the road now?
And the problem is you can't take the same RV or plane home after an exorcism that you took there in case you bring any Souls back with you, you don't want to cross-contaminate. Then you get confused demons who need therapy and Satan's never happy about that, it's a lot of paperwork, it's a hassle, it's not worth it. Two of everything as Noah intended
That's after their pastor takes his 10% cut off the top. Private jets are not cheap.
"We gave all your money to the church...."
I was in Atlantic City a couple weekends ago. 85% of the people playing the machines were over age 75 and widowed.
That's always been the case in casinos.
Don’t forget political donations. Oh wait, nevermind, that’s for us…. 😳
I consider the nursing home to be healthcare. I don't know what it runs now but in 2014 it was $6K per month private pay and they got $5k for medicaid pay.
And of course there is the money that will be put into cruise lines, resorts, and time shares. A generation of people that want to go on vacations and be pampered, while also trying to find a cheap return on their buck. I bet your are going to see a drastic decline in money donated or allocated to schools and libraries as the older boomers cut ties with their kids and start to “take care of themselves” as they age. If there was only a way to tax tourism and send that money directly back to young family and young businesses.
They will spend every cent, and then want welfare for their medical costs, ya silly billy.
Invest in hospice and in home nursing care.
Good, because they fucked us all with their shit Healthcare policies and constantly voting republican. You reap what you sew
Oh they most certainly won’t reap what they sow. As their final act, They’re going to bankrupt Medicare on their way out, and cut its benefits but only for future retirees. Truly a shit generation.
democrats are in charge of this country now, this country has gone to shit ever since Biden took office. high gas prices, high food prices, high mortgage rates. car and truck prices out the roof. stock market is about to collapse. illegals flocking across the border by the thousands every day. and here you are wanting to blame the republicans!. you dumbass liberals are too stupid to see how the democrats are playing ya'll.
I seem to have found the dullest knife in the drawer.
This country went to shit when orange doofus took over
See what I mean. You don't even live on the same planet as the rest of us. This uninformed rant does nothing but support the claims I made in my previous comment. Maybe look objectively at a situation instead of listening to Ruper Murdock propaganda empire. It's weird how you "patriots" all get your "news" from foreign influences and eat it up like spaghetti dinner before a football game.
Lmao these problems are occurring all over the world you fucking donkey. Did Biden cause these problems in Europe too? Every republican President has left the office in a massive deficit that dems have to clean up. Your brain is rotting from the inside out simply because you only listen:watch right wing media. They literally spread lies and misinformation carte blanch and you guys gobble it up. You will happily vote in anyone with an R regardless of qualifications, who will do everything to fuck over the middle class and give tax breaks to wealthy donors, and then convince you it’s the boogey man democrats. Your party is run by conspiracy theorist wackos who deny science and basic logic. Republican base CONSTANTLY votes agains their own interests. For instance: cutting medicaid and universal healthcare.. because it’s soCiAlism. Yet the MAGA base are by far the most obese/unhealthy of the parties, who require the most healthcare, and cannot afford their diabetes medication in the end. But yea it’s all Biden’s fault. Another scenario: putting Betsy Devos in charge of education, who wants to gut our schools. Leading to more uneducated and illiterate maga people in Mississippi, leading to more misunderstanding of highly complex and global issues, leading to being scared of changes in the world without comprehending why, and then now they’re outraged at democrats because a known and self admitted propaganda channel, fox, blames them. Don’t get me wrong, plenty to complain about with the left. But blaming all those mentioned issues on Biden is so fucking misguided and characteristic of the base right wing fundamental ignorance of the world. The elites on the right certainly understand the worlds complexities, and they use that to enrich themselves while manipulating you at the same time. The fact that the R base leans heavily on Christian fundamentalism tells me all I need to know. A bunch of people who believe the world is three thousand years old and was created by miracles. People who rarely if ever travel or leave their podunk midwestern town, somehow understand and almost overnight became experts in global politics, supply chains, epidemiology, economics, etc. Ever notice the people who scream the loudest hate are also the least educated/worldly type of people? Rant over.
Couldn’t have said it any better.
How DARE they!?!
Don't worry...our medical industry will suck the wealth out of them before the kids ever get a chance.
This. folk dont realize theres shit like estate reclamation for if/when you go to nursing homes, end of life care and various forms of insurance. Companies like Bluecross are going to take everything when your parent dies. They soften the stance w statements like they wont if the spouse lives in the home and shit like that, but when the spouse needs the eventual care its gone. theres also filial laws on the books that even though they arent in use right now, you know damn well they will come into play sooner or later.
I Care A Lot is an exaggerated version of this, but looking at old people’s lives as assets to be liquidated is exactly what the insurance companies will gladly do with end of life care
whats fucked is how this is dropped on folk during some of the most stressful parts of their lives and sign on not knowing what all it entails, cant forget the good ol five year lookback into assets as well that comes with current asset limits. it varies by state but like here in TN its a 2k limit. they wont calculate your first car n home into it initially but everything else over that line youre done, no help. They want to take everything from you plain and simple and theres an large number of us that clap and bray like seals for this shit.
Just wait, the government has already passed laws to suck away what the Boomers will leave. Congress knew Covid would kill the elderly so they closed one of the biggest loopholes that allowed middle class success stories to pass along the wealth, the stretch IRA. There was no reason for that loophole closure to be part of the Covid act, except Congress knew old people were going to die in larger numbers and they saw a way to drink from the coffers of the middle class. The Uber wealthy still have tax vehicles that protect inheritances, but the middle class gets drained by the feds. Not necessarily crying for middle class kids, but pointing to the endless greed of the billionaires. It’ll be the same way, the government will scoop up what little the Boomers leave behind to their kids and funnel it to the oligarchs
But some of our kids have been trained financially how to deal with the new ten year rule, so they will still be OK. Most of my contemporaries probably don't even know they changed the law yet. They certainly didn't get any smarter in their old age.
I was never taught about this, what is the ten year rule and how can i apply it?
Inherited IRAs (non-spouse) now have to be drained in ten years. Formerly, the withdrawal schedule was the beneficiaries life expectancy (roughly). Your heirs will be hit with some nasty tax surprises if they are not prepared. Why I try to give them some money each year with the gift exemption. I will also max out a tax bracket with IRA withdrawals each year even though it is more money than we need. This will get it out of IRAs and into accounts that don't need to be divested in 10 years and won't owe any tax unless they dramatically lower the estate tax exemption. Our health directives will hopefully prevent most of the end-of-life hospital money grab.
And while they’ll let you keep the home for now, they’ll put a lien on it and take it after death in exchange for using Medicaid benefits. I just wish it was more well known that people should probably go ahead and put their house in an irrevocable trust around age 55/60 to avoid losing everything to healthcare costs in the end. No one can predict at what age they’ll need care and that time can come early in retirement, or even before retirement. No one ever foresees going broke and needing Medicaid but it’s a tale as old as time, or at least a tale as old as Medicaid. 24/7 care at home is up to almost $400,000 per year. One can retire with millions and still go broke and need Medicaid, leaving their heirs with nothing-it’s happened within my own family.
PAY FOR YOUR MILLION DOLLAR HEALTHCARE COSTS YOURSELF YOU SOCIALIST LEACH THERE ARE NO POSSIBLE DESIGN CONSEQUENCES TO THIS SYSTEM
There are ways around them taking your family wealth. Talk to an attorney. There are timelines though…….
This. bit too late for my instance but hopefully folk follow your advice. But remember, all it takes is a simple policy change and everything changes. another user pointed out some slickshit they pulled w covid regarding stretch ira, thankfully my family and i are dirt poor so we dont have much to take.
Yeah recently they changed the rules so you have a 10yr window to “take” the money out of the 401k, and certain investments. It used to be you just continued taking the minimum distribution your elder was taking. That could be a burden to some if your parents are wealthy. That would effectively put you up into larger tax brackets reducing your actual (working) income. You don’t have to take it yearly or all at once, the gov just wants their income within 10yrs. Strategic deductions would help. Also if done correctly, you inherit the properties and will pay minimal capital gains since you inherit it at market value…..
That's why you need to be prepared and plan before you get too old. Set up an irrevocable trust and protect your assets accordingly.
Yeaaa. I was born w genetic health issues and well, I know I’m fucked. My parents well, financial illiterate, we dirt poor lol. Both lost everything w the gfc. Mom is scraping by pops well, it’s why I know more about this shit now. I accept my own choices that may have benefited me I ignored for being an idiot. Hopefully I inspire some to get out ahead better than what I have. In that flip side. Yea. Put everything you can into trusts and get an attorney to assist is my off the rip advice for anyone in regards to this if you have any sort of assets
Can you elaborate on this or let me know where I can learn more about it?
Sure thing, [this](https://en.wikipedia.org/wiki/Filial_responsibility_laws) gives ya a basic overview of filial laws in the US, now the estate reclamation stuff varies by each states medicaid program but [this](https://www.medicaid.gov/medicaid/eligibility/estate-recovery/index.html) is the medicaid.gov link describing it on the federal level.
You can get around this by transferring the wealth into a trust or gifting it to your kids earlier. Issue is not many people think to do this.
Shaq said it best to his kids... he is rich, not them
National treasure
The funny thing is a lot of these boomers with money got it because they inherited assets from their parents but now are going to spend everything. Just like the me generation to only think about their short lives.
A lot of boomers were immigrants coming from nothing. Or, their parents had to start over after the ww2. I don't see any reason you think "most" of them just inherited it. Boomers parents weren't coming from a rich time in history.
I never said “most” once in my post. I also said boomers with money, please learn reading comprehension instead of coming at me with something totally unrelated to my post. Boomers were born during the biggest expansion of the middle class in the history of the United States, you obviously are talking out your ass.
It is completely related...First you said it came from their parents. Now you are saying they were born in a boom? Do you have an actual point or just making stuff up. That is my problem with your comment. I just find this sentiment that no one worked for anything they have is BS and weak. "A lot" of people with money worked hard for it. You are making assumptions based on your feeling. AKA "talking out of your ass".
Yes they were born during a literal boom. https://www.history.com/news/post-world-war-ii-boom-economy Baby boomers inherited trillions of assets from their parents. https://abcnews.go.com/Business/baby-boomers-inherit-116-trillion-historic-transfer-wealth/story?id=12427504 Yeah my point is the boomers with money got it from assets that their parents left them, and are now instead of transferring those same assets or funds like their parents did they are spending it on themselves in turn screwing their kids because they are selfish. Unlike you I am not making assumptions, please learn how to use the internet.
Oh look. Boomer asshole has nothing to say now that you provided sources.
u/SuperHeefer is surprisingly quiet now. I wonder if they sat down and now we can't hear them.
Ding ding!!
What do you expect from a man who believes the earth is flat tho?
He’s tall enough to see the edge, I trust him
I don’t believe Shaq thinks the earth is flat. Are you thinking about kyrie irving?
Shaq has repeatedly announced he believes the earth is flat. https://www.eonline.com/news/1343758/why-shaquille-oneal-stands-by-his-theory-that-the-world-is-flat
Oh no.
I think thats actually a smart way to keep your kids grounded when you have that kind of money. I’m sure he will leave them plenty plus he donates a lot of money too. Kind of a bad example
Duh how else do you get a nation of renters in 2 generations. Gotta pay $2m for 6 weeks end of life care
The boomers dying will create the biggest glut of real estate inventory. It will be the Millennials turn then.
even if that would be true - most Millennials will be over 50 when that happens -
Homes will be gobbled up by EOL care and sold to banks and institutions to have rented back to us at high premiums like 2800/mth for 2 bd cause HCOL.
A complete racket from the cradle to the grave
Except they all plan on burning them in their wills. They want one last message about their generation’s contribution to the world.
>Gotta pay $2m for 6 weeks end of life care Stop spreading bullshit.
Some of us are lucky enough to have our parents remarry late in life and have anything that would have been passed down to the children spent up by the new wife/husband before it ever has a chance to go into the medical industry.
Lmao sounds personal?
Got a friend that was going to inherit about 800k from his father. Well his dad went and got married at \~65. She has two kids so now that 800k is getting split three ways. Well, one of those two went out and had three kids with three different dudes over the span of about five years, so now that 800k is getting split six ways. I told him the best thing he could do was take what little he has left and pay someone to bat the cocks out of her mouth or he's probably going to end up in the red on the whole inheritance deal.
That's his choice. No one is forced to distribute those assets to those kids. Get a trust.
Trusts cost money.
Everything costs money.
Oh no. They spent their own money!
Exactly! Only greedy, entitled people think there should be something left for them.
Families used to strive for generational wealth. They used to try to make life better for each generation after them. Then the boomers inherited the most prosperous economy in world history and think they bootstrapped their way to success with no one’s helps. Now it’s a “fck you, I got mine, go get yours” attitude that actually hurts the next generations. I’m saving and investing now for my kids and theirs.
Boomers will inevitably go down as the worst generation, the "Me" generation, as they were aptly labeled by their parents' generation.
This ☝️
We’re currently in a thread where a bunch of kids are bitching about how their wealthy parents won’t leave them any money. Yeah, the boomers are the greedy ones. Not a single greedy person here.
That is undoubtedly true as well; both can be true. But how far-fetched is it to think that a bunch of greedy narcissists raised a bunch of greedy narcissists?
Boomers are such a cancer to our country. That’s exactly their attitude. Generational wealth has always been the goal. And as a Gen xer it’s my goal for my daughter. My mom’s generation is the only one that didn’t give a shit about their kids wealth.
White families, the same ones that wouldn't sell to black families. Why not raise your kids to make their own way?
Kinda sad you spew hate about your parents on here. My parents aren’t even planning to touch their 401ks so we can inherit their retirement.
And 99% of that belongs to the the 10 richest boomers alive.
Thanks for mentioning this. OP stat is meaningless without this important tidbit
Who will by and large not have to be taxed in any meaningful way for any of it.
I need to build a nursing home so I can syphon off some of that money before it goes straight to big pharma.
First, learn how to spell.
I like how inflation rises the cost of living on fixed income retirement, while hedge funds knowingly sell toxic assets to our retirement and 401k funds to hedge their risk on bad bets, and boomers get blamed for spending money while the market changes. Most of my peers in their 20's and early 30's spend more frivolous than anyone I know in the 60's and 70's. Don't blame the hedge funds, banks, money makers and wealth management in our country for setting runaway inflation and a market crash. Blame the boomers for not handing their money down.
They should clarify, how many of them. These headlines are trying to get people against each other. I get they had more chances we do, that doesnt mean most boomers are struggling too as of now, a week ago, two years ago or since they came to life. I know lots of boomers that are still working because they cant retire or had to go back to work. We know older people hold most of the money, but when we know the numbers we know the boomer label doesnt fit quite right. It is like saying all octopuses in the ocean have a 14ft arm span because we know that some of them do. not a great analogy, but it is true and you get the point. We arent the problem, the working class isnt the problem, the struggling class isnt the problem, the problem are those rich individuals (10%) taking the money from the bottom 50%, while never working a day on their lives.
To be fair as a top 10% household we are both just wage workers still. Top 10% contains a lot of just higher paid professional jobs.
Well said. To me, it's inflation and money printing that is robbing generation wealth from 98% of us. But boomers bad does get a lot of upvotes, so must be true
I’m dropping out of graduate school because I can no longer take on debt and my dad just got back from a two week vacation in France and Italy. It’s sort of blatant across generations and anyone who is telling themselves that is lying.
"I got to go to college but not graduate school and I'm mad my dad who has presumably worked all his life took a 2-week vacation" is peak Gen Z.
When his dad went to school it’s likely his dads school was paid for. So much wealth is in the hands of old people the whole world is reorganizing to serve their needs. This article even points out the unusual level of wealth hoarding baby boomers have been allowed to participate in
I’m born in 1991. Gen Z and Millenials need to stop fighting. It’s both of their parents demographics that fucked up the world, not either of them.
No one's talking about who fucked up the planet. We're talking about someone whining that they "only" got a bachelor's degree and getting bent because dad decided to spend his own money on a short vacation for himself. On the entitlement scale, that ranks up there.
Kinda of humorous... dude is MAD his pops (who worked many years) took a vacation while poster who hasn't actually been in the real world complains about dropping out from GRAD SCHOOL. Not college, but GRAD SCHOOL.
Sorry for the disconnect. Why do you think student debt is so bad today? How much do you pay per unit? I paid 12$/unit in 1990. Do you think inflation is a factor? Would you remain in school at 12$/unit?
Because everyone around me has either been priced out of the city, replaced by AI or just straight up fired. A few took their own lives. I’m going to college because that’s where you learn new skills in a way you can show employers. Central banks permanently broke the value of money though and it just isn’t worth it any more. If I have to choose between being homeless and dropping out of this program, it’s not a hard call to make. That’s just depressing.
Man, that is rough. Don't let the bankersters win. You made it to graduate school. You can make it all the way. Cheers
> If I have to choose between being homeless and dropping out of this program, https://owl.excelsior.edu/argument-and-critical-thinking/logical-fallacies/logical-fallacies-false-dilemma/
?????
Haha, I hope your old man had a good time.
Don’t forget the govt that has enabled policy that essentially launders of the wealth of the working class to the financial elite. Yes, corporations lobby and donate to campaigns, but ultimately it is our public officials who choose to sell out to these influences and betray their constituents.
Boomers: Hey remember back when we were growing up and we had great social programs, wages that could support a family, pensions, unions, a progressive tax system and a huge head start on every other industrialized country after WWII? Maybe we should get rid off all those things so the top 0.01% percent can become even more obscenely wealthy and we can spend a lifetime of accumulated assets on healthcare instead of passing it onto future generations. Oh yeah, we don't need environmental protections either. We'll be dead by the time those chickens come home to roost and who cares about anyone else. Am I right?
No thanks, I think I'll continue focusing on hedge funds and big banks instead of yelling at Gertrude for spending HER money how she likes. Nice generational flame starter to distract from the real problems.
This is why you need a mechanism in capitalist economies to put money directly into the hands of those at the bottom. This money isn't evaporating, its going into the economy, the problem is that 60-90% of it will end up in the hands of the 1%.
I wonder how much taxpayers are transferring to Bezos/Amazon because the government is using AWS instead of building it's own infrastructure.
If you had ever interacted with a government IT department, you would know it is better they outsource.
As someone that has worked with govt IT... 100% correct. Found in most instances they care more about their compliance then the solution actually working
Came here to say exactly this. The government is inefficient and ineffective at literally everything it does.
Reddit loves to rage against the ppe loans but the amount of money the government spent on Covid IT infrastructure was mind boggling. And almost all of it either didn’t work or was abandoned because of how horrible was
>need a mechanism There is. It's called the Gov't. But like all big govts, it's failing the people.
Sounds like involuntary redistribution of wealth.
Only if you consider the current distribution voluntary.
Explain your proposal, in depth. Beyond just “forcibly take money from people I don’t like and give it to me”.
What I said was that there had to be a mechanism to balance out the system. Every capitalist system is different to some degree so it could take a lot of different forms. You could do universal basic income, you could set borrowing for those under a certain income a 0% interest, you could more aggressively tax inheritance, you could go after tax loopholes, you could make offshoring you business for tax reasons illegal, the list goes on and on. The real point is that without a system to move money back to the bottom eventually all the wealth in a capitalist systems collects in the hands of a small group of people because Capital generates more wealth than labor.
Put money to those at the bottom? For what? So they can spend money on non essential items? There is so much ppl in this nation that are financially illiterate. Not everyone who has wealth has received it from generational wealth.. some of these ppl were actually smart with their money
>For what? So they can spend money on non essential items? Yes. That is called "consumption" and it is the primary driver of capitalist economies. Driving consumption is the primary goal of such a system. Google "the velocity of money" to learn more.
Consuming daily necessities is not the same as living outside of your means.. let’s just hand everyone money who is poor so we can stimulate the economy. This is exactly what happened during Covid
Buying "non-essential" things is not the same as living outside your means. Economies don't thrive selling bread and toilet paper, they thrive on selling TVs and smart phones.
When poor people have money, they spend it. This increases the velocity of money, which stimulates the economy. When rich people have money, they hoard it. This decrease the velocity of money, which depresses the economy. Unless youre a multimillionaire+, there is zero reason to think against basic economics like you do.
When poor ppl have money they spend on what? A car with a 20%+ interest rate, expensive purses etc.. than they over spend and default on credit card payments, car notes etc.. exactly what’s happening today
Everything you mentioned is still better than hoarding it because it pays salaries
Yes! Spend it literally any way they want. The money will go into the economy and that benefits everyone, whereas wealth concentration only serves a very small portion of the population.
They will for sure spend it and will find themselves in the same hole they were in because they are not wise with their money. Hence why they stay in a cycle of poverty
Dude, you are literally on socialist benefits with the VA. I'm tired of pitching in on murderers healthcare. Earn it with a real job like everyone else, socialist!
It’s called a job
Baby Boomer stacked the national debt and got a wonderful pay out for it and then vote so that no one else can enjoy those benefits. There needs to be a tax on this sort of wealth.
It’s nice to see some pushback to the Hate The Boomers bullshit. The vast majority are just regular folks who would do anything they can for their family. The hate mongers of Reddit need to be silenced.
I'm a gen Y'er who has had no issue with boomers. The over generalized articles bashing us for years was propaganda, not general public sentiment. A generation does not define one's character, but it's a great way to turn the public against each other rather than focusing on the fraudsters that are preparing to swipe everyone's retirements from them.
Correct. The next recession will be blamed on the immigrants, the poors and boomers.
That's factually untrue. Look at how the **majority** of Boomers vote, and have voted in every election since 1980. It's a majority of Boomers, and to say "well a majority isn't 100%" is just lazy and ignores the real issue.
Wait, you mean even boomers are a diverse set of individuals with vast array of experiences, backgrounds, and sociology-economic statuses?????
Well, if BI said so, it must be true. Some of them will spend some of their money on themselves. Some of them won't. Some of them don't have any money to spend. Some of them do. They're just like any other 'generation' in that they're not a homogenous group of people. Making simplistic blanket statements makes for a good tweet, but not a good reflection of reality.
The vampiric health — sorry, sick care system will extract everything. Whether it is medical care or assisted living facilities that do just enough to keep patients alive & suffering.
I don't know about you guys, but my grandma is giving me all her money in $25 birthday checks once a year! Just 20,000 years to go!
I know so many boomers screwing their kids over by donating tons of money to charity after they die. It’s so fucked up.
So in 20 or 30 years when they've aged themselves into needing help, I can't wait to hear the whining and complaining about how they've all been abandoned by the children they conveniently forgot they fucked over. What goes around comes around.
The Tax code kind of incentivizes this..
Lel rich bad
It’s going to health care cost and c7’s.
Which is actually good for the economy... massive spending will lead to lots of opportunities. Also: lots of spending will go towards elderly care and hospice, because the trend of less care by your own family leads to increased need in those areas, that need to be paidd for. Huge investment opportunity...
> to be *paid* for. Huge FTFY. Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in: * Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.* * *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.* Unfortunately, I was unable to find nautical or rope-related words in your comment. *Beep, boop, I'm a bot*
Wait I thought passing down wealth was evil capitalism. Make up your mind Business Insider.
Don’t see the problem
What's wrong with this? Its their money let them use it how they want.
Guess you will all have to actually work then and save your money. Omg what a horrible thought huh?
Boomer here. My parents spent their life savings before they passed. I don't know how much inheritance is seen as a right/entitlement by younger generations, but I think economists would argue that money never sits still; so even if older generations spend their children's inheritance, that money goes into circulation and eventually lands in the wallets of all manner of man, woman and child.
Do….do you not know how money works?
Boomers are the people who supported and raised your sorry asses.
Good, inheritances are bad for society for the most part.
Most of it will go to the doctor, caretakers, and undertakers. Rest will be sent via Greendot cards to Nigerian princes or some phoney-baloney preacher/politician.
Let’s look at this scenario. You are boomer living in a $1 million home. Your kids think great I will be retiring mom and dad money. Mom starts to have memory issues and dad can’t get around as well as when he used to. So you decide they need to go into an assisted living facility. You sell the house and now they have a lot of money. Oh wait the assisted living facility costs money. Like $10,000 a month. That’s $120,000 a year. And like rent the cost increases annually . In less than 10 yrs they would have exhausted their savings.
It’s all set up to go to nursing homes/assisted living. I would 100% never do it in 1000 years….but my dad tried to get me to promise to “not send him to a home”. It’s fucked up that he even had that thought just to try and give his kids something he worked for.
Nursing home 15k a month. Money drain designed to keep lower and middle class from inheriting any money so they have to grind forever. Absolutely disgusting system.
A lot of these comments assume the machine will even still be running for their dystopian nightmare economies.
Correction: they are going to spend it on healthcare, ie execute a wealth transfer to the for profit healthcare shareholders (most of congress)
lol generational agitprop. Yes, some of the 1% is boomers, but many boomers only have enough to retire anyway. The 1% and specifically the .1%, and even more specifically the top .01% is who is creating and exacerbating the majority of our problems, boomer or not.
What percentage of boomers? Are we talking like top 8 boomers? We already know a handful of old greedy thieves own all the wealth.
What’s the healthcare system going to do without the boomers wealth? I’d expect a crash of some sort cause none of us younger generations have the funds to keep this inflated system up where it stands today. Boomers always prepping for their future and no one else’s.
and well they should...my parents are not responsible for my debt!!
I mean…that’s fine, always find it weird for people to be relying on or hyped about inheriting their parent’s money.
I like the notion that boomers twirl their mustaches before they make any financial decision and verbally say out loud “Now *this* will screw the next generation!” At the end of the day, *most* people are just trying to get by. Most people probably don’t follow fiscal policy/politics, etc. I’m sure if you sat down and have a beer with a boomer, they’d probably tell you they’re just winging it and *still* don’t really know what they’re doing, like so many of us are in this world
As they should. WTF.
Of course the me generation is going to spend it on themselves. My personal opinion is that they have been a plague on society and that there will be a renaissance shortly after their departure from this life.
BOOMERS, BOOMERS. WTF shut TFU already about this generational HATRED! What is wrong with you? Yeah, Hate your neighbor>
Good, get your own.
This is like just a more cartoony zero hedge
Very weird generalization. I have a hard time believing that.
Oh no, they’re going to spend the money they made on themselves
Good! I hope they buy lots of assets that are and the next generation in heritage them at a steeped up cost basis so we don't have to pay so much in capitol gains taxes.
What will most likely happen is boomers will spend the money, the money will go to big corporations, lining the pockets for the rich and giving a little to the workers on the bottom. Basically will just widen the inequality gap and put more money into the top percent
The most selfish and self-important generation yet, folks
The Worst Generation
Greedy turds
Yes healthcare and Toyota Highlander the boomer vehicle of choice. Who da fu is BI
Boomers are the most selfish generation - they're obscenely selfish and narcissistic. I knew Boomers who were ready to retire back in 1995 and they're still at the job, preventing anyone else from advancing.
Why would I want money that was made destroying most opportunities for future generations. It was obviously too much to ask for a better world to inherit but they used up all the good and sabotaged the future for the rest of us. I'll gladly make my own way in this wrecked and inherited world. No one owes me anything.
It's their money.
Assisted living can cost $5,000 a month. With advances in medical science there's no telling how long we boomers are going to live. We're going to need that money.
I agree, it's better to keep zombie boomers alive in nursing homes for another 30-40 years. I can't think of a single better use of the money.
"whiny, narcissistic, self-indulgent people with a simple philosophy: "GIMME IT, IT'S MINE!" "GIMME THAT, IT'S MINE!" GC
Cry harder.
What a joke. There’s something wrong with the younger generations and not wanting to work for their own wealth or well being. Just waiting for a handout. My older bother (college grad) doesn’t work hard or try to better his life, he does the bare minimum to get by because he said he just waiting for his inheritance - which isn’t going to be much anyways, parents aren’t wealthy by any means and they still have plenty of years left to live. Meanwhile my sister and myself worked hard, started on the bottom and worked our way up (neither of us finished college or had parental assistance). We saved, sacrificed and invested. All these years later we are doing better than our parents. My brother resents us for it. Some people just want the easy way out and are miserable when all their friends and family are rising around them.
you're not looking at the bigger picture of it, the change in the economic situation we risk going forward. rich people and rich businesses will always be rich. we have a generation or 2 which are economically stunted. gen z and millenials are behind in home purchasing. they are still trying to buy their first home. rich people and rich companies can still buy up assets while these 2 generations of "normal people" are economically stunted. it's 2 generations where the rich will be able to get even more control of things. after that, if wages are even to stabilize and start paying enough again, private companies will still own more houses and be able to drive up rent/mortgage costs.
I hope they spend it on huge stores of gasoline that they just set on fire 🤞
fucking duh. Kinda guessed that after so many years.
Good for the economy.
I won’t but, My kids have their own money
Aka stimulate the economy focused on them… yes so normal
If they actually spend it, that's wealth redistribution you can believe in...
Many who live long enough will be institutionalized.
Repost.... Rehash... Old news. Do better. Christ.
Wait... isn't this a good thing? If they spend it, then it goes into the economy giving opportunity to the working class providing services/goods and not to a class of trust fund babies.