Thursday, August 22

Intergenerational angst

“Contrary to popular millennial misconception that the baby boomer generation is living the high life at their expense, older people are actually paying more in tax while receiving a falling share of public spending. Millennials and people approaching middle age are enjoying more benefits-in-kind from the state than their predecessors despite a decline in the rate of pay rises. Nowadays older people work for longer or pay tax on private pensions; and though younger people benefit less, their net contribution is lower than that of their predecessors. Analysis found that people now aged 20-24 were net beneficiaries when comparing taxes and benefits, receiving £4,124 more than they paid in, while the generation born in the 1950s were net contributors when they were in their 20s and paid in £2,593 more than they took out.” 

We sometimes forget there are other generations…

“There is no shame in nostalgia for a world that was as one likes it. I am not above it. If globalisation goes into reverse in the coming years, as per the hype, I will sob Pathetically for the noughties, my own Eden, when the whole planet appeared to have been created for mobile young men with no responsibilities. It is just odd to live through the rebranding of the 1960s from the wokest of decades to the last truly conservative one.” (Janan Ganesh, Citizen of nowhere, FT) 

At the end of the day you can only play the team in front of you.

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