Posted on 06/11/2012 12:32:05 PM PDT by SeekAndFind
Wow - now that it’s affecting boomers, it’s a problem.
Obama wants to confiscate all inheritances.
The fallout from a disasterous economy continues.
It should always be the other way around, the kids should support the parents in their later years...if this was considered the norm, we wouldn’t have Social Security be the Leviathan it has become.
To my knowledge, it was the norm. FDR used the few exceptions to the rule to gin up support for Social Security.
Gee I better stop counting on it as my folks are 87 & 80 years young. Oh well I better go to work and keep earning a living so that I can pay the Gov.
IMO, FDR was the worst president this country has ever had - LBJ is a close second and Nixon and Obama are struggling for third place. In forcing through the leviathan state, he paved the way for all of the additional welfare state programs that are putting us on the path to fiscal insolvency.
“”The Employment Benefit Research Institute reports 35 percent of those of retirement age are almost totally dependent on Social Security benefits for income. Only about half the remaining 65 percent have retirement savings of $50,000 or more.””
In plain English they are saying that only one third of 65 year olds have $50,000 or more in savings.
They are also implying two-thirds of those 65 year olds will vote for big government handouts.
This is how Obama expects to win. Impoverish the voters and promise freebies.
Even FDR in his 1935 SOTU said that government relief was like administering a narcotic, and that government must “quit this business of relief.” Whether he meant it or not, the fact is, even he recognized the long-term impact of government programs on the populace.
My mom is still with us, and I suspect when she goes, I’ll get some bills. So goes the world.
There is no duty to give anything to the next generation. The parents fed ‘em, clothed ‘em and sent them out into the world.
Their duty is done.
The problem is the size of government. It’s simply not big enough. /Krugman
My mother-in-law is pretty well off, and 93 years old. I always knew she would out live me.
My parents are making some very bad financial moves, and expecting us kids to pick up the pieces. My mom demands a large house (after selling the farm), a baby grand piano, not to mention a new or leased car every few years.
I will support them, I will not enable them.
... typically half those retiring do not retire by choice. Instead, conditions such as disability, death of a relative, downsizing or a plant closing cause them to end their career earlier than planned.
“FDR was the worst president this country has ever had”, NOPE Wilson and Teddy R. are up there in suckage.
This sad article implies that it’s only normal for people to expect some cash from their dead Mom and Dad. And it implies that most “Adult children” can hardly wait. This is what being a “slacker” is all about.
I plan on spending every dime (or at least work on it) before I go. My 18 and 15 year old are aware of this. I’m 54 and I don’t hesitate to pull $3,000 out of savings every now and then for a nice vacation or something I want. It’s not my responsibility to continue caring for them into their 40’s and 50’s!
Her creditors will appreciate that. But legally, if there are no assets, the debts die with her.
Which is what I tell my mother in law. All I want from her is cookies for her grandchildren.
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