Thursday, October 24, 2013

The Biggest Wealth Transfer of Them All

The federal entitlement programs -- social security, medicare, medicaid, food stamps -- and the state and local public pension programs have something in common.  Those who benefit aren't paying for the benefits.

The payers are mostly Americans who aren't born yet.

The folks that support the expansion of these programs claim it is fair and moral to expand these programs.  Is it fair to make unborn generations, who will not get these benefits, pay for the current generation?

This is the largest wealth transfer in the history of the world. The only reason it is possible is that the current generation of Americans is the most selfish in history.  Unlike the "greatest generation" that Tom Brokaw spoke of in his famous book about World War II veterans, this generation believes that everyone should sacrifice but themselves.

Why is it fair to raise taxes on future generations to support the current generation?  That is the proposed solution to public pension plans and to federal entitlements.  That's why Obama says that higher taxes must be part of any fiscal solution.

Soak future generations so that we can live high today.  That is the theme song of the Obama Administration.

Current taxpayers want to preserve all of their entitlements even though it impoverishes their children and grand children.  And these are people that claim a higher moral ground?

The selfishness of the current generation of Americans is amazing.

With zero personal savings, the current generation is willing to borrow and borrow and spend and spend and pass the debt on to their grandchildren.  They should be ashamed.

No comments: