Monday, April 09, 2012

Generational Warfare III

Not only will the Boomers borrow money in the name of generations too young to even work - they want the present earnings of those just coming of age as well.
GERMANY is proposing to levy extra taxes on the young to pay for the costs of the country's growing numbers of old people, under government plans for a ''demographic reserve'' levy.

Angela Merkel's Christian Democrats have drafted proposals that, if law, would require all those over 25 to pay a proportion of their income to cushion Germany against a looming population crisis.
Because of a slump in Germany's population, as more ageing Germans retire there are fewer young workers to replace them as taxpayers to fund generous welfare and pension arrangements.

Estimates from Germany's federal employment agency predict that the workforce will be reduced by 7 million people by 2025.

''We have to consider the time after 2030 when the baby boomers of the '50s and '60s are retired and costing us more in health and care costs,'' said Gunter Krings, who drafted the Christian Democrat position paper.
Classic. While they were young and then in their prime - they were happy to live large without properly funding for their future (as you would expect from '68ers). Now that they are reaching "that age" - do they want to face the music and accepts less? Heavens to Helga no; can't have that. Instead, the drive is to see what more they can get out of that young turnip.

I should be careful though - at least the Germans have been more responsible than we have in the USA in such matters. Our time is coming soon, and as we are delaying the fix - what we will have to do will most likely make this look easy. The only thing we have going for us is that we actually have a younger nation and have been having children.

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