[glc1173@aol.com]

Remember that one - major - reason that boomers have so little equity compared to their parents at the same age is that taxes are so high in order to give even the most-affluent senior every conceivable program. Today's seniors didn't have to pay so much taxes for programs for affluent ancestors!

[Texan5]

Thank You for pointing that out. Where my husband works, Granny drives up in her Mercedes, stomps up to the desk, and demands her mediscare co-pay for her Prozac, even though her information sheet lists her yearly income at 6 figures, and she has never worked a day in her life. Many of the "greatest generation" have become the "you owe me" generation. My parents would be shamed if they were here to see this (and no, my siblings and I never expected them to leave us money). What ever happened to making your own money and your own way?

[lonestar]

Remember that one - major - reason that boomers have so little equity compared to their parents at the same age is that taxes are so high in order to give even the most-affluent senior every conceivable program. Today's seniors didn't have to pay so much taxes for programs for affluent ancestors!

Disagree with you. Seniors didn't buy on credit; didn't pay a lot of interest. Paid cash for things other than house, car.

Boomers use plastic for everything and pay as much to banks each month as to Uncle Sam.

Boomers suffer from "instant gratification" and aren't even aware of what they can afford from what they should live without.

Grannies knew the difference; did more with less, IMO.

[timestax]

Remember that one - major - reason that boomers have so little equity compared to their parents at the same age is that taxes are so high in order to give even the most-affluent senior every conceivable program. Today's seniors didn't have to pay so much taxes for programs for affluent ancestors! 4 posted on 11/30/2002 4:30 AM PST by glc1173@aol.com [ Post Reply

Absolutely true! Some of these people bought their houses for around $5,000 back then. Added a few improvements throughout the decades, now same house would cost $100,000