Once the inheritances really start rolling in, you’ll suddenly find the next generation much higher. What this graph misses is how much wealth is concentrated in such a tiny portion of the generation.
No. Money isn’t energy. It can be created and destroyed. It is expended to survive. It doesn’t remain static. Thus the amount ‘lost’ in the transfer will ve significant. Wealth from those dwindling inheritances will not come close to correcting this. The issue is is systematic. Tax the rich. Or observe the violent loop of history.
“Oh it’s different this time bec…” K.
Also, I agree with you about the wealth concentration representation being lacking. This graph seems to have the goal of causing generations to yell at one another so they don’t notice the rich are robbing them. Stated another way, in a room of ten starving people one person eats five sandwiches, the average person in the room had half of a sandwich.
No. Money isn’t energy. It can be created and destroyed. It is expended to survive. It doesn’t remain static. Thus the amount ‘lost’ in the transfer will ve significant.
Yeah, the money will be “lost” to the small portion of the wealthy in the next generation, just like how a small minority of boomers are actually very wealthy.
Once the inheritances really start rolling in, you’ll suddenly find the next generation much higher. What this graph misses is how much wealth is concentrated in such a tiny portion of the generation.
No. Money isn’t energy. It can be created and destroyed. It is expended to survive. It doesn’t remain static. Thus the amount ‘lost’ in the transfer will ve significant. Wealth from those dwindling inheritances will not come close to correcting this. The issue is is systematic. Tax the rich. Or observe the violent loop of history.
“Oh it’s different this time bec…” K.
Also, I agree with you about the wealth concentration representation being lacking. This graph seems to have the goal of causing generations to yell at one another so they don’t notice the rich are robbing them. Stated another way, in a room of ten starving people one person eats five sandwiches, the average person in the room had half of a sandwich.
Averages are used to lie to us all.
Yeah, the money will be “lost” to the small portion of the wealthy in the next generation, just like how a small minority of boomers are actually very wealthy.
Oops sorry, I just reverse-mortgaged my house! You get nothing, sweaty!
Yep, that money will be passed along to the small group of wealthy people in the younger generation who now run or will run the banks.
Health care costs
Yep, that money will go to the small group in the younger generation who will own the insurance companies.