The Greediest Generation

39 Replies to “The Greediest Generation”

1. Grouchy Old Cripple is one of my favourite blogs.
   Don’t miss Saturdays when Denny posts his “Asshole of the Week” award. Saturday boobage is good as well.

2. You could cut that anger with a knife.

3. and it’s the taxpayers that KNEW that they were being bought that kept casting ballots for dear Capt. Bullshit.
   Thanks for the mess senior’s. Now man up and take some responsibility for enabling the thieving b@$tard$

4. That should be sent to every lowlife Politician in Canada at all 3 levels of Gubmint. They are lower than whaleshit and that is in the bottom of the ocean.

5. The rant was nice, but the bear really nails it.

6. Previous generations volunteered to be a part of the mess we are in, younger and future generations have been conscripted. Leaving others to clean up the financial mess that they never chose ‘as long as you get what you were promised’ is immoral.

7. Bear is right. The author is talking out his A$$. Seniors in the us and Canada have paid only a fraction into their entitlements that they needed too. It is they who will milk the system dry of funds – using money from those who will get far less than they contribute. Not to mention the cushy union jobs and govt project of the 50s 60s and 70s.
   Perhaps the senator is a bit of a hypocrite, but he’s no more of one than the author. And if he’s like most politicians I know he works his tail off compared to most of those who vote.
   I am reminded of a speaker at a U of T convocation over twenty years ago – a man about 55 at the time. He was a retiring govt employee – with the BoC perhaps. His speech was an apology to his son who was graduating and his fellow grads for his generation taking all of the bounty of the country then and into the future to line their pockets during their working lives and into retirement. The author in the link should be apologizing not ranting.

8. Suppose we could leave the country in the condition we found it. Just think, you could be pioneers…
   You only want to be ‘conscripted’ into the good stuff somebody else built…

9. I could agree with some comments on Canada’s Seniors but the real Criminals were the Politicians. You all seem to forget that the Canadian Seniors had their paycheques confiscated by law and had forced contributions. We never agreed to or consented. But seeing as they forced us to pay. Now you have to pay.

10. Gord Tulk
    “And if he’s like most politicians I know he works his tail off compared to most of those who vote.”
    politician and work should never be used in the same sentance, unless you are infering that they are working hard at appearing to work

11. Was watching Stewart on O’Reilly tonight trying to sell Obama’s Common invite. A slow talking,
    stuttering, deer in the headlights expression, trying to get unstuck from his crap being quoted back to
    him alternating with a terrific scowl when Bill got in a good one. As he got bitchier, Bill’s got cooler.

12. Gym – many work tirelessly on their voters behalf. Others don’t. Their profession is not unique in the regard except I think on average they work much harder than the public in general.
    Rfb: the voters elected those politicians and voted against those who proposed to do otherwise.
    Just today I was making an employee benefits presentation to a 65 year-old when the conversation turned the AB seniors drug benefit plan and how it was going to cost the province over a billion a year to fund it in the very near future.
    I noted that the AB health minister previous to the current one was planning to introduce an income tested premium and perhaps even a statement of net worth test.
    Very unashamedly she said were that to happen she’d move everything into a trust and get her kids to support her. And that the govt would be defeated by seniors if they ever attempted to charge even a small premium.
    No doubt she would be one who would declare all politicians lazy criminals who are driving the country into the ground and bankruptcy.

13. GYM.
    Yes there are useless politicians just as there are useless dentists, bus drivers and carpenters.
    I was an MP for two terms and voluntarily chose not to seek election for a third go. I have been a farmer, prospector, labourer on the surface bull gang of a developing mine and have worked as an exploration geologist on five continents. I’m now retired and happily vegetating.
    I can assure you that my sojourn in Ottawa, with its gawd-awful hours and constant demands for my attention was the toughest gig I ever had.

14. Zog:
    As you might gather I hang out with politicians from time to time and I have helped and advised a few of them on their campaigns over the years.
    Whenever I meet a newly elected one – regardless of which level of govt – municipal, provincial, federal – I make a point of telling that they have joined a very small cadre of people – those who have run and won elected office.
    Very very few have what it takes to do that – it is not for the faint of heart and it very rarely includes a slothful person. They are – and you are – to be commended for your sacrifice – I have no doubt there was plenty of it.

15. No doubt she would be one who would declare all politicians lazy criminals who are driving the country into the ground and bankruptcy.
    Well, they are the ones who vote themselves gold plated pensions.
    No doubt done during a fit of sacrifice and weariness…

16. Fiddle:
    Greedy, self-centered voters shouldn’t be surprised or disgusted when they vote for a person who appeals to those instincts has those very same instincts.

17. Fiddle:
    You only want to be ‘conscripted’ into the good stuff somebody else built…
    Like buying on credit but you don’t have to pay the bill do you, Liddle!

18. As far as rants go, that’s gotta be close to 10 out of 10. Knocked it out of the park, as they say.

19. Credit was scarce for those who did the work to build this country. Although, they did pay the taxes to pay for your education…such as it is.

20. It takes two terms to get the gold plated pension, doesn’t it?
    Well, two terms with gawd-awful hours and sacrifice. Self-evaluated as such…

21. The pioneers actually deserve credit for building Canada – roads, schools, electricity etc.
    The boomer generation, not so much. All of their programs are entitlements (Old Age Pensions, Health Care, etc) and the costs were deferred indefinitely as national/provincial debt which will be passed on to others. Those others are unlikely to have either the benefits of those programs or the same standard of living as the boomers.
    I guess the question is “What is the older generation willing to sacrifice to not unfairly burden young taxpayers and future taxpayers?”. If the answer is “Nothing”, as it appears to be, then I would not be surprised if the same callous disregard is returned at some point in the future.

22. When the younger generation lets go of ‘free health care’, ‘free education’, minimum wage, taxpayer funded every damn thing, then we’ll know they mean business. Until then, it’s just talk.

23. I know that when things go wrong and people feel threatened, it’s tempting to look for a target: politicians, seniors, etc. I’m heading into seniorhood and I seem to recall helping to pay for people’s kids to go to school, or for all sorts of folks to get medical attention when I was not using those services myself. We are looking at some major transfers of wealth as the seniors and boomers die and their kids inherit the pile, or the government gets one last big grab at the RRSP’s etc. (all the deferred taxes come due upon death unless you can pass the RRSP’s to a spouse). Some Boomers have helped their own kids get educated and buy houses. Some help babysit their grandkids and look after aging parents. So while I understand some of the resentment, it’s perhaps a bit unfair to tag all the problems on the seniors and boomers.
    Personally, when I feel I’m being reviled for daring to become old in this society, I get quite anxious about hanging on to what means I do have–seeing as every day I’m being threatened with ending my days in understaffed and poorly funded institutions where I will get my just deserts (ie crusts, tainted water and bedsores).
    Have I ever been given the choice to vote for governments who lowered taxes and reduced benefits to the public service, or who actually carried through on promises to cut back on the multitude of perks, services and goodies that are putting us in debt? I don’t think so. I’ve voted Conservative all my life (except for that moment of madness when I voted for Trudeau–I was young-what can I say?) and even when they were in power, they seemed unable to derail that runaway train. Perhaps Mr. Harper with his majority can begin.

24. Well said Rita.

25. Perhaps you have heard of deficit. If the government is running one, today’s taxpayers are paying less than their fair share and asking tomorrow’s taxpayers to pay more.
    The current crop of near retirees is the group that did more than any other to generate and demand those debts: hence the tag, “greediest generation”.
    From what I read, Alan Simpson, republican senate whip during the 80’s and 90’s, has every right to use that language. No doubt he took a lot of political grief by standing for fiscal responsibility.
    The irony, of course, is that most commenters on this site were just as willing to make the right decisions (though not as willing to fight) as senator Simpson.

26. Well, he’s right about at least one thing – ALL politicians in both Canada and the US have mismanaged the public purse and are in breech of public trust. They pimped a social welfare state to get votes but they actually have built a huge unsustainable ponzi scheme and insulated themselves from its inevitable collapse.

27. From what I read, Alan Simpson, republican senate whip during the 80’s and 90’s, has every right to use that language.
    Typical politician, do what I say, not what I do.

28. Excuse me but our seniors worked for over forty years, paid into social programs they’ve never used outside of CPP however for three generations the cradle to grave welfare class has milked the system whilst paying nothing back into said system. The biggest parasites in this nation are the welfare class and the bad back industry ala fake disability crowd, they milk the system like pros but pay minimal amounts into those programs that our seniors built up on the back of their hard work ethic.

29. Thanks Rose. That needed to be said too.
    Also, the impression that you stop paying taxes because you’re a senior needs to be addressed. If a senior gets CPP and they have other sources of income, much of that gets taken away in taxes. They pay taxes on the RRSP savings that they withdraw to support themselves in retirement. The notion that seniors do not contribute to the services they need is simply not true. They not only help pay for their own, they help now and have helped to pay for others in the past. And it’s probably a good idea to have a few dollars in the bank to fall back on when society tells them to p*ss off after a lifetime of helping to pay for the social systems that benefited everyone.

30. Bear @ May 16 8:08 doesn’t nail it, in fact he misses by a mile.
    Take your own advice and man up yourself.
    Unless you started voting just this month, you are just as guilty as the seniors you would like to lay all the blame on for the fiscal mess we are in.
    Guess that makes you a bigot and a hypocrit, doesn’t it? Typical for somebody with an axe to grind and no solutions.

31. Rose @ 9:35
    That is about it in a nutshell: too much gaming of the system. When it turns into a multigenerational exercise of waste, abuse and entitlements, and this behaviour is exacerbated by politicans of all stripes buying votes, our democratic system becomes corrupted.
    We need some real leadership in this country, and a real change of attitude of a lot of the population. Otherwise we have lost the plot.

32. No Ed, the boomers really and truly are the self entitlement generation. You couldn’t man up and accept responsibility if you were caught red handed. Oh wait, you WERE!
    Keep blamin’ your kids and your parents. It’s the boomer way!

33. If you haven’t re-paid society for free, to you, education and health care, you are part of it.

34. Sorry Bear, but you really don’t get it do you?
    Most people of my generation were neither hippies nor wasters, but paid into the system their entire working lives, and paid far more than they ever took out. Most people of my generation who were industrious will have lots to retire on, irrespective of any government pensions.
    You are painting an entire cohort as being solely to blame for fiscal incontinence when at least 3 and possible 4 generations have equal blame. Guess that’s what makes you and your ilk bigots.
    Of course bigots don’t like history or facts that get in the way of their vision of how the world is.
    BTW, you need to get off this opinion board in the middle of the day and start being productive for a change and start practicing what you preach.
    KMA bigot.

35. Most politicians don’t lead but scramble to be in front of the mob. Promising something for nothing has succeeded in bankrupting most Western nations. Complaining about all of our stupid relatives who were part of those mobs or the politicians catering to them does little good. Politicians work hard because the state has swollen to such monstrous scale and over-reach that many senior level politicians are de facto (largely) unqualified CEO equivalents entirely dependent on bureaucrats.
    The reality is that there is no reasonable alternative to a future with means tested and reduced entitlements, reduced services, and reduced functions provided by the state. The only question is will there be enough numerate, sentient adults to drive a reasonable agenda or will Western societies wait for catastrophic fiscal imposition and private wealth destruction to complete the circle? Will our future be a market economy marked by thrift and inequality or a feudal egalitarian one with uniformity of squalor?

36. I would not smear the ‘senior’ as hypocrite. It is childish.
    He could have been voting against the thieving bastards all his life to no avail.

37. Would be a good rant if the author weren’t full of it. Alan Simpson should get praise for speaking the truth.

38. @libertariansaresmarter at 8:58
    Would be a good statement if you weren’t full of it too. Way to quote out of context. Might have had a some semblance of truth when he said it, but now that so much time has gone by, not so much.
    Witness the last two years under Barack Obama: more debt accumulated in the last two years than all previous administrations put together. Astounding, but proves the fact that all generations of people who vote have had their hand out for freebies too, not just boomers.

39. I agree with the rant in principle, but not on facts.
    Social Security taxes were NEVER “tucked away in an interest bearing account” but then raided.
    Social Security is a PAY AS YOU GO system. That means current recipients are paid by current taxpayers. As benefits grew and the bumper crop of baby boomers reached retirement age, the number of workers supporting each recipient dwindled.
    Yes, Social Security had surpluses, but the government SPENT EVERY DIME. Why? Because they could. FDR’s plan could not pass Constitutional muster, so he sidestepped it. He used the government’s taxation powers to raise revenue (FICA) and the government’s expenditure powers to provide benefits. The link between taxes and benefits is tenuous, at best. In fact, the Supreme Court already ruled that you do not have a right to receive benefits, even if you paid into the system. SS is nothing but a TAX and SPEND system.
    But it is also a REDISTRIBUTION system. It doesn’t merely redistribute income through intergenerational transfers. The Return on Investment for low-income taxpayers is MUCH higher than that of high-income taxpayers. In fact, most high-income taxpayers will LOSE money through Social Security as compared to a private investment account.
    The Social Security Trust Fund was smoke and mirrors. All future benefits are to be paid from future government revenues. The non-negotiable bonds in the Trust Fund are just government promises to pay from FUTURE GOVERNMENT REVENUES. Does everyone understand that the source of repayment for the bonds is the same as the source of payment for Social Security benefits? The Trust Fund was an exchange of one IOU for another one – that’s it!
    Over the past six decades, Social Security benefits were greatly increased. Benefits were also increased by a COLA based on the CPI which overstates inflation, so real benefits increase every year.
    So YES, the current recipients ARE the greediest generation. They are getting much more in benefits than they paid into it. And it’s their grandchildren who have to pay the bills for it.
    YES, those people did pay into that system and they were promised benefits. But they put their faith into a promise which COULD NOT BE KEPT. It’s their own fault. And that generation has fought TOOTH AND NAIL to increase benefits and save the system through the AARP.
    Means testing is just a benefit cut for current taxpayers and further redistribution from high to low income earners.
    Increasing payroll taxes will just reduce the Rate of Return for current taxpayers even more.
    Cutting current benefits breaks that promise.
    There is NO WAY to save this broken system. The system IS the problem. What we need to do is immediately privatize our pension system into fully-funded, personally-owned retirement funds. We can impose a modest tax in order to pay for the indigent – maybe 2-3% of payroll.
    We should not save the system. We should preserve the promise of a secure retirement.