Posted on 05/29/2013 8:08:27 AM PDT by blam
It's High Time America Did Away With Senior Discounts
Alex Mayyasi, Priceonomics Blog
May 29, 2013, 10:44 AM
You’ve seen them on the bus, in museums, and at movie theaters: senior discounts.
As a reward for being old, senior citizens pay a quarter less for bus fare, a small fortune less for movie tickets, and receive discounts generally all over the place.
If you’re a twentysomething, or part of what some journalists have colorfully called “the screwed generation,” you may be wondering: why not me?
The idea that seniors are a group in need of help and protection dates back to the thirties, when America’s senior citizens were disproportionately poor and affected by the Depression wiping out everyone's savings.
In 1935, President Roosevelt passed the Social Security Act, which gave federal assistance to the elderly. This became the norm. Aid to seniors increased over time, in particular with the creation of Medicare in 1965 and the passage of an amendment indexing social security to cost of living increases and creating an additional Supplemental Security Income for seniors in 1972.
As two poverty economists note, “One of the most striking trends in elderly well-being in the twentieth century was the dramatic decline in income poverty among the elderly.” This can be seen in the graph below.
The United States only began measuring poverty in the 1960s, so we lack standard figures dating farther back than that. But it’s recognized that the trend of decreasing poverty among seniors dates back to the thirties and forties. 2011 Census figures place poverty among Americans aged 65 and older at 8.7%, well below the national average of 15%.
(snip)
(Excerpt) Read more at priceonomics.com ...
Bump - saving that...for a friend ;-)
YES...or helped put them thru college, or paid for something extra???? EXACTLY!
HA...my Mother In Law tried to retrieve the “handicapped” permit for her deceased husband from us....my husband threw it away, and didn’t tell her!
You foul hypocrical conservative you!!
< /sarc >
1968 was the first presidential election that picked up some of the first boomers.
In 1968 the democrats won 47% of the under 30 vote, in 1972 with the war raging and the draft on, and the voting age having been lowered to 18, the democrats won 46% of the under 30 vote.
The first presidential election that all boomers were old enough to vote in was in 1984, that year the democrats won 40% of the under 30 vote, there was no presidential election in 1982.
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As much as we despise the rich seniors using discounts to ride urban buses when the limo is in the shop, epic bearded man would never have introduced Amber Lamps to the world without it.
https://www.youtube.com/watch?v=dDD9FmdmUN4
Retailers ramp up 'senior discounts' By Laura Gunderson, The Oregonian on January 16, 2010
"Although no one can point to it in a history book, collective wisdom says senior discounts originated around 60 years ago, when the AARP began soliciting age-based discounts from insurance companies and hotels. Retailers were quick to sign on."
“Does the author even consider that perhaps senior discounts are not at attempt at charity but, rather, an attempt to secure the business of a demographic that otherwise would stay home?
You have perfectly described the heart of the matter. In the realm of managerial economics, the term is “price discrimination”, where a firm maximizes its revenues by charging a lower price to the demographic which otherwise would not purchase. It’s obvious the writer of the piece has a meager education in economics.”
Bears repeating.
Note the price differential also increases utility for the purchasers. With one price for all, some non-seniors get a price break that increases their utility a little bit. Some seniors pay more, decreasing their utility a bit more, and some seniors don’t get to purchase at all, decreasing their utility quite a bit.
The market finds a good equilibrium, and Alex thinks he can improve things. Why not open a store and test your theory, Alex?
Got it ...grateful. Friend.......
Looks like a great read ....
Stay safe !
I retired comfortably at age 55. Your point?????
https://www.youtube.com/watch?v=dDD9FmdmUN4
In my city the buses are run for the 'appearance' of having public transportation...
Grant money is involved, city jobs are involved, fiefdoms come into play - everything except thought that might make public transportation useful to citizens. My city has buses running that could hold (in a pinch) 80 citizens - large lumbering behemoths... with poorly thought out routes and maybe 6 people per bus.
For what the city is paying it would be cheaper to hire a fancy limo service to pick these people up at their doors and deliver them to their destinations. I'm not against throwing money away for the elderly and/or Amber Lamps - just wish we could throw it away and get a tad more service for these people.
(Ever notice how airport shuttles don't show up at your door with vehicles that will hold 80 people when there's only 6 going to the airport?)
I’m breathing just fine, you seem to be the one all worked up over a very small matter.
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