Good discussion.
The only possible fallacy I can see to your thinking is that FrogDad and I are boomers.
Always been employed, always paid taxes. Raised three kids. Once the kids left home, and had been on their own 5-10 years so we could quit slipping them money, our spending on “stuff” doubled or tripled. So, in our 50s when we are supposed to slow down, we started spending. Got most of the debt gone, bought some toys, ate out MUCH more frequently.
I have friends in similar situations. We aren’t the norm, but I’ll bet there are a lot of us out there.
Indeed, it’s a good discussion!
I just get so exasperated dealing with the prevalent view that things are just hunky dory if we were to raise taxes and load it on the productive folks.
It’s a relief to come here for sanity.