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I am becoming more and more of a single issue “voter” on the topic of gerontocracy. In quotes because there is no party in the United States that is not actively trying to grow it and give more money to old people at the expense of the young.
In New York there is something called STAR tax relief for homeowners. Households making less than 500k/year get a yearly check that serves as relief for school taxes you pay as a homeowner. If you are over 65, you are a special citizen who gets extra money (means tested at 110k/year, but there’s no such extra relief for younger people who make less than 110k, and yearly income is not really as relevant for older people who don’t need to save for retirement, have probably already raised kids or don’t have any, probably have paid off a mortgage, don’t need to save for a kids college fund, have likely already accrued wealth such that income is effectively meaningless, I could go on). Why? Why do these people get extra money at my expense? It’s supremely unjust and makes no rational sense, other than pandering to a large voting bloc. Pure politics that flies totally under the radar. And our entire society is riddled with handouts like this. Combine this with falling birth rates, higher life expectancy, etc. I feel like a good 70-80% of economic malaise and existential issues facing America could be resolved or greatly ameliorated by just cutting this shit entirely.
Of course it makes sense, boomers are a massive cohort and old people have most of the wealth, and they vote. And for some reason young people seem completely oblivious as to how much of their taxes flow to the old, and suggesting you redistribute this somewhat triggers empathy and accusations of killing your sweet grandma. In some ways this issue is much harder to actively build a coalition around because almost all of us have elderly relatives around and we all expect to one day be in their position and wouldn’t it be nice to retire and have the government pay for everything when we do?
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