Triumph of the old

From Robert Whitcomb's "Digital Diary'' in GoLocal24.com

U.S. public policy helps the old far more than the young. Consideran International Monetary Fund study that found that the lifetime net tax benefit in the U.S. – that is, the value of what we receive in government benefits compared to the taxes we pay – is positive for everybody over 18 but with the biggest benefit for those over 50.

But of course deficit spending (i.e., borrowing from the Chinese, etc.) has been paying for much of this. That suggests that eventually, younger people must pay much more in the new few years to cover the cost of old people on Medicare and Social Security. 

The attitude of many oldsters is: “Don't cut my Medicare, don’t cut my Social Security; I paid for those benefits!’’ Well, they only paid for part of them. As long as so many young people decline to take 20 minutes to vote, the heavy-voting oldsters will get an ever bigger slice of the pie.