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Analysis, Radio 4, Tonight -- Thursday -- At 8.30pm.

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Just heard the trailer for this -- it's about the young being saddled with student loans and not able to afford houses, but having to pay for the pensions and health care of the baby boomer generation. Will they rebel? Sounded as though the presenter has been reading HPC.

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Just heard the trailer for this -- it's about the young being saddled with student loans and not able to afford houses, but having to pay for the pensions and health care of the baby boomer generation. Will they rebel? Sounded as though the presenter has been reading HPC.

If it reaches a certain point then they will rebel. You can only squeeze folks a certain amount before they snap. If the government at the time has any sense then they wont let it reach that stage.

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Guest Charlie The Tramp

Paid income tax and NI for the past 47 years and will no doubt be paying income tax till the rest of my days.

Paid Purchase tax @ 10% for 14 years.

Paid VAT from 8% to 17.5% for 32 years and will still pay for the rest of my days.

Paid Rates, Poll Tax, and Council Tax for 35 years and will still pay for the rest of my days.

Paid fuel duty on a grand scale for 46 years and will still pay a small share why I can still drive.

Paid all the other duties and taxes on vices the past 46 years.

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You have to remember that the mantle of the parliment will be passed on.. and on.. to new generations..

there is the supremacy of parliment.

If this was to continue... when the boomers are old and in their homes..

Perhaps we will remember how they treated their own parents..

Parents that faught and died for their freedom in the war..

Now living in poverty.

Perhaps that will be remembered..

Maybe the children that they also failed will remember

perhaps just one lesson..

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Maybe, just maybe, when the boomers (myself included) retire, it will cause such an asset price crash over the years that the problem will solve itself. I know thats a long shot though. One thing I do know is that I dont expect youngsters to pay 50% tax on already low wages just so I can have the pension the goverment promised me all those years ago.

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Sounded as though the presenter has been reading HPC.

Had a message from someone at Radio 4 about a week and a half ago. Returned calls and emails and left messages, but they never called back. I guess they had to finish the programme there and then and when they got my messages it was too late. This could very well be the same thing, which would explain why the programme's editor knew about things written on HPC.

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Paid income tax and NI for the past 47 years and will no doubt be paying income tax till the rest of my days.

Paid Purchase tax @ 10% for 14 years.

Paid VAT from 8% to 17.5% for 32 years and will still pay for the rest of my days.

Paid Rates, Poll Tax, and Council Tax for 35 years and will still pay for the rest of my days.

Paid fuel duty on a grand scale for 46 years and will still pay a small share why I can still drive.

Paid all the other duties and taxes on vices the past 46 years.

But very little of that went to support any generation other than your own.

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Guest Charlie The Tramp

But very little of that went to support any generation other than your own.

:blink:

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Maybe, just maybe, when the boomers (myself included) retire, it will cause such an asset price crash over the years that the problem will solve itself. I know thats a long shot though. One thing I do know is that I dont expect youngsters to pay 50% tax on already low wages just so I can have the pension the goverment promised me all those years ago.

fine,so what is 22% income tax

plus 11% national insurance

plus 75% fuel duty

plus 17.5% vat

....that's the ones to get you to work and back and earn the income that gets taxed....now add in

VED,council tax,duty on fags/booze should you partake.

50% tax doesn't sound so far fetched now does it?

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fine,so what is 22% income tax

plus 11% national insurance

plus 75% fuel duty

plus 17.5% vat

....that's the ones to get you to work and back and earn the income that gets taxed....now add in

VED,council tax,duty on fags/booze should you partake.

50% tax doesn't sound so far fetched now does it?

Okay, you're right of course, but I was just meaning basic rate income tax. Mind you, would any goverment be stupid enough to do that or would they just invent numerous new stealth taxes to do the job instead?

Only good thing about that would be that if you are carefull and clever its possible to avoid many stealth taxes.

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:blink:

I don't understand what the emoticon means but i do understand demographics. The point is that the taxes paid by baby boomers were spent on the baby boomer generation as the number of retired over the past 40 years and provisions for them as percentage of the working population and GDP were massively lower than the burden we are faced with.

Had these taxes been invested wisely then there would be a pool of money 'saved' to provide for the retiring masses and hence no pension crisis. But that simply is'nt the case and someone i.e the current working generation is expected to pick up the tab.

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Guest Charlie The Tramp
The point is that the taxes paid by baby boomers were spent on the baby boomer generation

So none of the infrastructure in the past forty years we see today was not paid for by babyboomer taxes.

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So none of the infrastructure in the past forty years we see today was not paid for by babyboomer taxes.

The double negative is interesting but i think i get your drift. The infrastructure built over the past forty years was built to serve the needs of the populous of the last forty years.

The situation today is one of an inefficient and inadequate transport infrastructure , shortage of homes, water infrastructure in caos and the north sea drained of both fish and oil.

Yes, thank the romans but the baby boomers I don’t think so.

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The double negative is interesting but i think i get your drift. The infrastructure built over the past forty years was built to serve the needs of the populous of the last forty years.

The situation today is one of an inefficient and inadequate transport infrastructure , shortage of homes, water infrastructure in caos and the north sea drained of both fish and oil.

Yes, thank the romans but the baby boomers I don’t think so.

I think the main thing that we should be blaming the boomers for is raising a generation of ungrateful, expectant and selfish children.

:P

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Guest Charlie The Tramp

The double negative is interesting but i think i get your drift.

I don`t think you get my drift.

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Guest STR2004

So none of the infrastructure in the past forty years we see today was not paid for by babyboomer taxes.

I'm not sure that was the point was it? I've heard it argued, on a number of occasions previously, that older generations have been been robbed of what was supposed a savings scheme for their old age (NI contributions etc). Wasn't the point that was being made simply that the governments of the time chose to spend that money on other things - the fact that they did meant better services (or whatever) for the people around at the time (i.e. the older generation). Just a thought.

STR

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I think the main thing that we should be blaming the boomers for is raising a generation of ungrateful, expectant and selfish children.

:P

I would probably place global warming above that. But hey!

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If this site is typical, there does seem to be a growing resentment towards the older generations by the younger, justified or otherwise.

This is how the generational divide looks to a lot of young people :

- The baby-boomer generation is hoarding the vast majority of the decent property in the country, and expect their children to live in tiny shoebox flats they wouldn't dream of living in themselves. Most of the largest houses in any given town are 'empty nests' with several vacant bedrooms.

- The older generations have not saved large enough pensions and expect the younger generations (to an extent) to fund their retirements. To pay for the baby boomers old age young people will be forced to work until they're 67 (at least).

- Up to 50% of 20-somethings are now leaving university with thousands of pounds worth of debt. They may be well into their 30s before they have saved a deposit for a tiny shoebox flat. In the mean-time they largely won't be able to afford to start families.

- The baby-boomer generation "to fund their retirements" have bought-up most of the starter flats and houses that their children would otherwise have bought as BTL. Instead of starting their own families (and producing future tax-paying grandchildren), young people have been forced into paying their wages into a baby-boomers' bank account.

Justified grievances, or ungrateful foot-stampings by young people who have never had it so good?

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I don't get it with the baby boomer bashing thing.

Despite being a til end baby boomer, I too will

get shafted over for a state pension, and a private one.

The reason our promised pensions aren't going to exist

is because our government has frittered the money away on

bad economics, electioneering giveaways and pointless

wars.

They have known the demographic profile for forty years,

and have failed in their responsibilities to provide for them.

The private pensions companies gambled my hard earned

contributions on the dotcom boom - and lost, so I can

look forward to a nice letter explaining to me that my

pension fund hadn't performed quite as well as predicted etc.....

I have paid tax, NI and pension contributions throughout

my career, so have the rest of my peers. I want to know

where all my money went to.

I do not subscribe to the belief that is simply being consumed

by my parents generation -that is just political spin desgin to divide

and conquer.

ABB

Edited by AgeingBabyBoomer

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Okay, you're right of course, but I was just meaning basic rate income tax. Mind you, would any goverment be stupid enough to do that or would they just invent numerous new stealth taxes to do the job instead?

Only good thing about that would be that if you are carefull and clever its possible to avoid many stealth taxes.

exactly.the general populace are totally ignorant of tax in general.

....I chose the self-employed route to escape the tax!!!....ok it means a bit more risk taken in terms of contracts,but overall I can safely say my tax bill is less than half what it would be had I been an employee.

if you have contractable skills this way is an option,those who work in B+Q are not so lucky.

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Generation Hexed -- Repeat and Listen Again.

The programmer was titled 'Generation Hexed':

http://news.bbc.co.uk/1/hi/programmes/analysis/4511900.stm

Young people born the 1970s and 80s find it increasingly difficult to buy their own homes, are burdened with student debts and are largely shut out of relatively generous company pension schemes.

By contrast, many of those born in the post war baby boom are living in houses worth far more than they paid for them, can enjoy an early and affluent retirement and, unlike the younger generation, will derive far more benefit from the welfare state than they will contribute in taxes. Are the under 30s likely to keep quiet about these iniquities for much longer?

Camilla Cavendish of The Times asks whether the legitimacy of the welfare state will be called into question as struggling, younger workers pay for state benefits and services used disproportionately by a comparatively well-off, older generation.

You can hear the programmes repeated on Sunday, 19th. December at 9.30pm. or via Listen Again:

http://www.bbc.co.uk/radio4/progs/listenagain.shtml

For more about Analysis:

http://news.bbc.co.uk/1/hi/programmes/analysis/default.stm

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An election in the 1970's or 1980's:

Party A: We're going to spend more on health, education and social services.

Party B: We're in a demographic bubble. We need to cut spending on health, education and social services so we can salt away billions which will help alleviate the situation in 30/40 years time.

Who wins?

And before the under-30's on this board start complaining again, let me point out the bleedin' obvious:

NOTHING HAS CHANGED.

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would it help if us boomers on HPC under took self-flagellation say every other Thursday ?

Free Trader, the differance is the under thirties are getting married later, enjoying themselves more and having less children.

Edited by Catch22

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would it help if us boomers on HPC under took self-flagellation say every other Thursday ?

How about an 'adopt a family' scheme where middle-aged couples donate their spare bedrooms or BTL flats to young families for a year or two? If anone's interested in putting my girlfriend and me up for a couple of years rent-free send me a PM. West London only please! :P

Edited by HPCheese

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Free Trader, the differance is the under thirties are getting married later, enjoying themselves more and having less childern.

Well, I started to write some diatribe about what my life was like from the age of 18-25, but it began to sound like that Monty Python sketch (I remember when I wer' a lad...)

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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