It's offical Baby Boomers - Greediest Gen EVER

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It's offical Baby Boomers - Greediest Gen EVER

Post by veya_victaous on Fri Dec 12, 2014 2:59 am

http://www.news.com.au/national/is-it-time-for-the-older-generation-to-pay/story-fncynjr2-1227153878535

THE wealth of older Australians is increasing but this is happening at the expense of younger people.


Households aged between 65 and 74 today are $200,000 more wealthy than households of that age eight years ago, despite experiencing a global financial crisis during that time. Meanwhile the wealth of households aged 25 to 34 has gone backwards, according to the report The Wealth of Generations by independent think-tank the Grattan Institute.

It is no surprise that the housing boom has helped older Australians to become richer, while those who did not own property before 1995, seem to have missed out on huge windfall profits.

But rising property prices do not tell the whole story.

Incomes for older Australians also grew at a faster rate than young people, and this allowed them to save more.

Despite this rise in income, older Australians also paid less tax. Why?

The report says superannuation tax arrangements for older people could be playing a part. This is because people over 60 years old can reduce their income tax by up to $5000 a year via super tax concessions, and they can also use the Seniors and Pensioners Tax Offset to reduce their tax payable by up to $1600. This is regardless of whether they are actually retired.

Grattan Institute chief executive officer John Daley told news.com.au in August that these “outrageous” perks for older people were just a couple of measures that could be pulled back in order to balance the budget.

“Young Australians should be furious about this,
” Mr Daley said at the time.

The report into the wealth of Australians also identified that older generations get a lot more from the country’s tax and welfare system, compared to younger people.

“A household headed by someone over 65 today receives $4400 more in real terms in welfare benefits each year than did the equivalent household 20 years ago,” the report notes. Most of this increase is due to a higher age pension.

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Re: It's offical Baby Boomers - Greediest Gen EVER

Post by veya_victaous on Fri Dec 12, 2014 3:07 am

This is obvious to anyone is Australia that is not A baby boomer... baby boomers have the hide to say it was hard when they were young, facts say they got 90% of early life cost like University for FREE and only paid 30%-50% of the principle price comparative to wages for all the resources have received more tax breaks than any generation ever and more middle class welfare than any generation ever and They removed it all once they were no longer eligible.

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Re: It's offical Baby Boomers - Greediest Gen EVER

Post by Lone Wolf on Fri Dec 12, 2014 4:38 am

Razz


THIS silly little load of jealous and pointless codswallop should be re-titled as "Those Lazy Whining Self-Centred 'Millenial' Wastrels Do Another Dummy Spit !!!"




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Re: It's offical Baby Boomers - Greediest Gen EVER

Post by veya_victaous on Fri Dec 12, 2014 4:45 am

Oh Rolling Eyes Rolling Eyes Rolling Eyes Rolling Eyes Rolling Eyes you mean another baby boomer that cant accept the REAL numbers!!!

Face it THIS IS REALITY
this is what anyone that can count and understand percentages and proportions says because it is accurate.
17% interest on a third of the principle is less than 5% interest on triple the principle without even considering the Increased time it takes (thus more total interest) on the principal.

yet you still here boomers say but Interest rates were so much higher in my day like that actually means something.. it is like they purposely don't look at the numbers to justify their decades of greedily stealing for past and previous generations


tongue tongue tongue tongue tongue tongue tongue tongue tongue tongue

it even gives you ALL the figures that show with out a doubt that baby boomers have ripped all the other generation off to the tune of about $200,000 dollars.

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Re: It's offical Baby Boomers - Greediest Gen EVER

Post by Ben Mothafuckin' Reilly on Fri Dec 12, 2014 6:54 am

I will completely agree with this, it's very true in the U.S. as well. The Baby Boom got a much more equitable share of corporate earnings than their children and now grandchildren, and was the generation that decided fuck it with profit sharing, let's funnel most of the money a capitalist enterprise earns to a few people at the top.

It's OK, though -- no society is ever going to treat people like this without fueling a revolt. It will come if reforms aren't made, and the longer it takes, the nastier it will be. If we figure out a way now to allow people to improve their station and a modicum of dignity and mobility, we'll avoid violence.

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Re: It's offical Baby Boomers - Greediest Gen EVER

Post by Lone Wolf on Fri Dec 12, 2014 10:24 am

pirat

I, for one, don't have a spare $200k gathering dust under my bed...

SOMEBODY else obviously has my share..

IF I did have that moolah, I'd buy a few acres maybe an hour or two north of here.      geek

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Re: It's offical Baby Boomers - Greediest Gen EVER

Post by veya_victaous on Sun Dec 14, 2014 6:20 am

@wolf
they probably do
wouldn't surprise me if if is just half the baby boomers (liberal voters probably) that have ripped $400,000 off society

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Re: It's offical Baby Boomers - Greediest Gen EVER

Post by Lone Wolf on Sun Dec 14, 2014 8:04 am

Smile

NOT only the richest/greediest/most materialistic "generation" in living memory, but Baby Boomers also have some of the biggest disparities between the 'haves' and the 'have-nots'...

FOR example, I have a handful of (admittedly well paid..) friends who have accumulated real estate portfolios worth a couple million $$$ or more (less mortgages oweing..), and I also know several of the "landed gentry" [either through studying Ag' at UWS; or through my beekeeping..] who were generational farmers/graziers/orchardists, sitting on family businesses now worth millions..

YET collectively they are lucky to add up to maybe less than 5% of the people I'd know personally, all up in total ~ the greater majority only have a fraction of those few millionaires, while at the other end 5% of the people I know have very few genuine assets, and another 10-15% again will never even reach $200k in total ~ let alone ever reaching that supposed "average (?)" surplus of $200k..

P.S.  James Packer and Lachlan Murdoch are "X Generation" !!!      

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Re: It's offical Baby Boomers - Greediest Gen EVER

Post by Original Quill on Sun Dec 14, 2014 5:18 pm

Ben_Reilly wrote:I will completely agree with this, it's very true in the U.S. as well. The Baby Boom got a much more equitable share of corporate earnings than their children and now grandchildren, and was the generation that decided fuck it with profit sharing, let's funnel most of the money a capitalist enterprise earns to a few people at the top.

It's OK, though -- no society is ever going to treat people like this without fueling a revolt. It will come if reforms aren't made, and the longer it takes, the nastier it will be. If we figure out a way now to allow people to improve their station and a modicum of dignity and mobility, we'll avoid violence.

In the meantime, they get to live in Southlake.

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Re: It's offical Baby Boomers - Greediest Gen EVER

Post by Irn Bru on Tue Dec 16, 2014 8:21 am

Baby boomers worked a 40+ hour five and a half day week as standard up until the 60s. They worked in conditions that are nowhere near as safe or as comfortable as they are these days. Sick pay was basic and you got nothing from your employer if you were off work ill and little of the State with a 3 day lie time before you qualified. Very few had motor cars and most travelled by public transport. There were jobs for almost everyone in the 50s and 60s but automation killed so many trade crafts. Most women stayed at home and brought up the children running the home with no fancy gadgets to help them make it easier.
Baby boomers have nothing to apologise for  but hey, it was great.

Keep rockin'
Irn

http://elitedaily.com/life/the-20-differences-between-the-baby-boomers-and-generation-y/

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Re: It's offical Baby Boomers - Greediest Gen EVER

Post by Irn Bru on Tue Dec 16, 2014 8:29 am

veya_victaous wrote:This is obvious to anyone is Australia that is not A baby boomer... baby boomers have the hide to say it was hard when they were young, facts say they got 90% of early life cost like University for FREE and only paid 30%-50% of the principle price comparative to wages for all the resources have received more tax breaks than any generation ever and more middle class welfare than any generation ever and They removed it all once they were no longer eligible.

Veya, wouldn't many Australian baby boomers be immigrants from Europe, particularly the UK? They arrived by the boatload and many lived in camps before being settled I believe.

http://john.curtin.edu.au/1940s/populate/

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Re: It's offical Baby Boomers - Greediest Gen EVER

Post by Lone Wolf on Tue Dec 16, 2014 8:15 pm

Irn Bru wrote:
veya_victaous wrote:
This is obvious to anyone is Australia that is not A baby boomer... baby boomers have the hide to say it was hard when they were young, facts say they got 90% of early life cost like University for FREE and only paid 30%-50% of the principle price comparative to wages for all the resources have received more tax breaks than any generation ever and more middle class welfare than any generation ever and They removed it all once they were no longer eligible.

Veya, wouldn't many Australian baby boomers be immigrants from Europe, particularly the UK? They arrived by the boatload and many lived in camps before being settled I believe.

http://john.curtin.edu.au/1940s/populate/
cyclops

THE last census shows that 24% of all Australian residents (citizens and non-citizens alike) were born overseas...

That means that 76% are to be considered "natives"..

The proportion of 'foreign' born baby boomers is probably slightly lower (remembering that the youngest Baby Boomers were born in early 1960s, they are now aged in their early-mid 50s..), maybe around 20% or so.

MOST "Baby Boomers" worked hard for what little they have ..
A Lesson that the great majority of the current "New Millenials" (Z generation) down here, and many "Y Gen'" Peter Pans, have yet to learn... drunken

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Re: It's offical Baby Boomers - Greediest Gen EVER

Post by veya_victaous on Tue Dec 16, 2014 9:38 pm

Actually there is heaps, Irn is right my Dad is one But from France
Many would be English but there are a lot of European Particularly Greeks And Maltese that came over in large numbers in the 60's

Also Public Transport in Sydney is now slower, triple the price compared with average wage and people now compute from over twice the distance.

Also it here it was the Suburbs Designed by the baby boomers that are lacking trainlines and everything else that previous generation made standards before allowing developers to sell high density housing... because baby boomers have always operated on the policy of 'Fuck it let future generations fix it we can make more money half assing or Raping it for all it's worth now"


Also Aussies on average work More hours a week now than During the 60's, 70's or 80's.

Also Who got women into the work force? 'baby boomers' who then increased the cost of raising a family to be 2 full time wages Baby boomers. Baby boomers had it so easy the Average Factory workers wage could raise a family Not a hope of that now.

Here literally everything from education to pension has been extremely generous when they are getting it then reduced and removed when they don't. Dogs get to retire in their 60's fucking bludgers they have already legislated here that I will have to wait to 72 minimum

@Wolf
Again there is this thing called accounting and numbers and record keeping so the response to your assertions are the Facts... Baby boomers worked less for more and have been given more AGAIN to the tune of $200,000 each.... In real terms. compared tot he cost of living you all got paid significantly more you could buy assets for significantly less and your generation has then blocked out future generations from purchasing assets in the name of there early retirement Bludger attitude. Aussie baby boomers should not get to retire as they have left the economy relatively poorer than when they started. having sold off and privatised billions in public assets to cover the debt from giving themselves free Uni then spent the remainder on middle class welfare and tax breaks from themselves which have all ran dry and they STILL want a pension!!!!

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