Taxes: Y Asks Why, Boomers Ask Why Not

Investor's Business Daily Editorials ^ | 10 April 2007 | Robert Samuelson

[cryptical]

Can the Second Amendment and Social Security Coexist?

A broader question is can the Second Amendment and Socialism co-exist? History says no.

[spikeytx86]

"can run circles around their modern-day counterparts when it comes to reading, writing and math.

---

If the boomer's are so good at math, explain our Nations fiscal picture. There either stupid or apathetic to the greatest transfer of wealth in the history of humankind that will befall their children and grandchildren.

[mysterio]

Will generation Y submit to tax serfdom? Don't count on it.

As long as they have professional sports and doritos, a population will accept anything. Will they submit to tax serfdom? You betcha.

Want people to wake up? Point out that sports are a dangerous, addictive product marketed to children and get them banned. That ought to do it.

[spikeytx86]

When our marginal rates rocket back up to the 70% levels of the Pre-Reagan years and my payroll tax jumps from 15.3% to over 30%, I can count my self lucky that I can download songs cheap! /s

[Porterville]

boomers? give ‘em foodstamps and gov’ment cheese. give ‘em a trailer in Mojave and inventory them near the 747 grave yard.

[DuncanWaring]

If you don't retain US citizenship, how do you maintain a right to return?

Easy - just a short hike across the southern border.

[Paleo Conservative]

Easy - just a short hike across the southern border.

The BP may not care if you're a poor Mexican crossing to get goodies from Uncle Sam, but I guarantee you they'll enforce the borders to arrest former citizens who "owe" taxes.

[DuncanWaring]

Work on your tan, dye your hair black, and “No habla inglis”.

[Freedom_Is_Not_Free]

So Generation Y won’t pay the exhorbitant tax burden? Ha! Who needs them.

We will have PLENTY of illegal immigrants paying taxes on their minimum wage under-the-table earnings to cover the gap, er, uh... Nevermind.

[Freedom_Is_Not_Free]

Quote: "As long as they have professional sports and doritos, a population will accept anything." And porn! Don't forget porn!

[mysterio]

lol

[peeps36]

We wouldn’t have a problem with social security if it only paid the people who contributed to it. I don’t know the figures but I bet more than 25% of the people on social security are under the age of 50. I would also be willing to bet that over half of the 25% paid little or nothing into the fund.

[qam1]

Xer Ping

Ping list for the discussion of the politics and social (and sometimes nostalgic) aspects that directly effects Generation Reagan / Generation-X (Those born from 1965-1981) including all the spending previous generations are doing that Gen-X and Y will end up paying for.

Freep mail me to be added or dropped. See my home page for details and previous articles.  

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More on this book see Thank you for dying

[cherry]

first of all...you won't be paying anything to us....we will get a pittance from the govt and that's it...more likely we'll be supporting our grown children and their grand children, which I consider a right and a responsibility....

as far as that not "diversifying" thingy....it wasn't that...the company was taken over several years ago, its assets sold and then a "bankruptcy" appeared...which took away all pensions and medical retirement....but don't you worry your sweet little head over that....

and yes, we do deserve it....we've both been paying in for a combined 75 yrs...don't you think we should get SOME of our money back?

[cherry]

tru dat....

[driftless2]

"we deserve it"

completely agree. It's only been in the last twenty years or so that common people have been able to take advantage of tsps and iras. Today's younger generations have at their command the ability to make a lot more retirement money for themselves through the markets. But even so my wife and I are also trying to make as much money through our tsps as we can before retirement. And we are doing alright. Why people are blaming boomers for today's and tomorrow's ss crisis is beyond me. We didn't create the ss system, but a boomer (President Bush) did try to solve it. But the fact is the younger generation will be a lot better off if they invest now in the iras and the other plans like it.

[shrinkermd]

Yes, foreign earnings are taxed. Less well known is if you don’t file and are working overseas your passport may be pulled and you either register a citizen elsewhere or return home.

[Vigilanteman]

If the boomer's are so good at math, explain our Nations fiscal picture.

Knowing how to do math and how to apply it are two very different skills. As you probably know, our nation's fiscal problems have little to do with lack of math skills and everything to do with the lack of political courage to stand up to the gimme hordes of tax consumers.

[PA Engineer]

The 85K FWE does not include SS. These workers earn more overseas and generally still pay the same gross amount in taxes. The exemption was strictly to make American workers more competitive and has not been indexed to inflation since the early 80s because of rat opposition. This generally means that money is flowing back to the US in both investment and taxes rather than leaving in the form of cheap imports.

[TheKidster]

we deserve it.

That’s the problem. You didn’t plan for retirement. If it was YOUR money I’d agree but since it is MY money you feel you deserve, I hope the boomers die very early and very often. Not because I hate them but because I don’t want to see them complete the destruction of America in a generation.

They gave us the sexual revolution which evolved into the AIDS crisis and teen pregnancy epidemics, mainstreamed Marxism, narcicism unrivaled throughout history, single mother homes, the drug problem and the statist policies to follow, postmodern relativism, Political Correctness, economic ignorance, outsourcing, and to top it all off they’ll bankrupt the country so that they can sail off into the sunset to enjoy the leisure years at my expense.

Nah I’m just kidding, I didn’t mean it.