Saturday, November 02, 2013
How Washington Really Redistributes Income - WSJ.com
This is quite an interesting article.
See if you can agree with it's premise...
See if you can agree with it's premise...
In the Wall Stret Journal, James Freeman has some interesting stuff in his interview with Stanley Druckenmiller:
"While many seniors believe they are simply drawing out the "savings" they were forced to deposit into Social Security and Medicare, they are actually drawing out much more, especially relative to later generations. That's because politicians have voted to award the seniors ever more generous benefits. As a result, while today's 65-year-olds will receive on average net lifetime benefits of $327,400, children born now will suffer net lifetime losses of $420,600 as they struggle to pay the bills of aging Americans.
One of the great ironies of the Obama presidency is that it has been a disaster for the young people who form the core of his political coalition. High unemployment is paired with exploding debt that they will have to finance whenever they eventually find jobs.
Are the kids finally figuring out that the Obama economy is a lousy deal for them? 'No, I don't sense that,' says Mr. Druckenmiller, who is a registered independent."
