Millennials Will Become Richest Generation In American History As Baby Boomers Transfer Over Their Wealth (healthcare, death)
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A study shows that Millennials will hold five times as much wealth as they have today and the group is anticipated to inherit over $68 trillion from their Baby Boomer parents by the year 2030. This will represent one of the greatest wealth transfers in the modern times.
That's kindof a theme with Gen X. We're too few in number to matter much.
But one point about generational wealth transfer: Hospitals, nursing homes, and pharmaceutical companies will end up with a LARGE chunk of that wealth. That's what our predatory healthcare system is *designed* to do.
We're the only industrialized country in the world that routinely bankrupts the sick and the old. That's a direct transfer of wealth from the poor to the rich.
and yet it is the millennials that want socialism. if they get that it will wipe out all that wealth they would otherwise inherit.
So you don't agree with the Founders? That's fine.....as long as you realize who is contrary to the ideals this country was founded on.....
"Some founders wanted to eliminate inheritance entirely. In a letter to James Madison, Thomas Jefferson suggested that all property be redistributed every fifty years, because "the earth belongs in usufruct to the living." Madison gently pointed out the plan's impracticality. Benjamin Franklin unsuccessfully pushed for the first Pennsylvania constitution to declare concentrated wealth "a danger to the happiness of mankind."
They were right, of course, which is why the Opiate crisis and other messes we are currently in seem to correlate perfectly with the elimination of Estate Taxes.
No. Boomers are anywhere from 55 to 75 years old right now.
Gen Xers are anywhere from 40 - 54 years old right now.
Millennials are anywhere from 25 - 39 years old right now.
Gen Zers are anywhere from 4 to 24 right now.
If you have a boomer parent, they could be in their 70s, and could pass on what they accummulated to a Gen Xer.
Frankly, any generation below the boomers is equally as likely to get whatever the boomers pass on. A 75 year old boomer is more than likely going to pass on whatever to their children as well as their grandchildren. Usually the children get the biggest cut, unless they were complete terrors, and the grandchildren get some things, as well, but they aren't going to just bypass their own dang kids who are the Gen Xers now.
Just found some more interesting information:
Boomers are about 76 million of the population.
Gen Xers are about 82 million of the population.
Millennials are about 73 million of the population.
Gen Zers are about 74 million of the population.
Interesting considering some Millennials like to pretend what "when the boomers die off..." things will change the way they want them to. Problem for them is they still have the Gen Xers to contend with, and the Gen Zers aren't really jiving with Millennials, either.
We're the only industrialized country in the world that routinely bankrupts the sick and the old. That's a direct transfer of wealth from the poor to the rich.
Under penalty of death.
The typical American end of life story(for those that live to old age) is a spend down of all assets on care until you get plopped in a medicaid nursing home bed.
So you don't agree with the Founders? That's fine.....as long as you realize who is contrary to the ideals this country was founded on.....
"Some founders wanted to eliminate inheritance entirely. In a letter to James Madison, Thomas Jefferson suggested that all property be redistributed every fifty years, because "the earth belongs in usufruct to the living." Madison gently pointed out the plan's impracticality. Benjamin Franklin unsuccessfully pushed for the first Pennsylvania constitution to declare concentrated wealth "a danger to the happiness of mankind."
They were right, of course, which is why the Opiate crisis and other messes we are currently in seem to correlate perfectly with the elimination of Estate Taxes.
Unlike today where you have to agree with the "group" 100% or your ostracized, the founders differed in many aspects and they did it respectfully by debating it thoroughly. None of them agreed with each other 100%. The three you mentioned doesn't equal "The Founders". It's only 3 of them.
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