Posted on 05/08/2018 3:38:08 PM PDT by risen_feenix
Should young people in the United Kingdom be given £10,000 ($13,500) when they turn 25? A top think tank says yes.
The proposal from the Resolution Foundation is one of a number of suggestions for reducing inequality between the young and old.
British Millennials and their peers in other developed countries have fallen behind older generations when it comes to wealth, income and home ownership, a trend that politicians have been slow to address in the wake of the global financial crisis.
"We need not just some tinkering, but some big and dramatic solutions," said Matt Whittaker, deputy director at the Resolution Foundation.
The £10,000 payment would come with strings attached: Young people would only be allowed to spend it on developing new skills, entrepreneurship, housing or pensions.
(Excerpt) Read more at myndnow.com ...
The Moneylenders have a win-win-win: get the government to (1) borrow money from the banks to pay for a program that the government cannot currently afford and (2) provide loans to people at a time when they are almost guaranteed to be fiscally untested, unproven, ignorant and impulsive.
Basically, at the absolute worst time in their life to lend them money: when they have the overconfidence of youth yet lacking any wisdom to know what to do with money.
This has to be the most obvious banker-driven proposal I have ever seen.
And what's worse, they make the plea under the guise that they will tax the boomers to pay for it. The reality is, the boomers will never pay for this because (1) it's an inheritance tax. The people actually paying the taxes will be Generation Xers who stand to do the inheriting over the next 20 years or so. And in many cases, it will be the Millenials themselves paying the increased inheritance taxes!
And that's just the "proposed" funding solution. The reality of politics is that those in power now, the Boomers, will absolutely never allow themselves to pay for such a proposal. By the time such a scheme came to be implemented, the near-retirement and retiring Boomers will arrange to be exempt from whatever taxation method is determined, that they be "grandfathered in" since they are so close to retirement/already retired, so they could not possibly plan for it. Regardless of HOW they work it out, the boomers, who make the rules today, will be sure that they are not the ones who must fund it.
This is a program that would stand to put the final nail in the coffin of Western free-market countries, and I have no doubt that there are enough voters willing to sign away their futures for a free $13,000 of someone else's money.
Sure. They can up the tax on guns/ammo and knife sales to come up with the extra cash. Oh..................
Absolutely!! Those “Asians” deserve even more for living in the hellhole country!
WORK
If they were serious they would suggest a tax break but that might actually work so NOOOoooOOOooooOOOooo.
But look at all the shiny new knives that can be purchased.
If that ever happened in the US, last straw. i’d get out of a taxable income bracket as soon as humanly possible. Not another cent.
Jakers, I almost peed myself at that one. LOL.
No, it’s a terrible idea.
Let them work for it, like we had to.
They’ll appreciate it more.
What a GREAT idea!
Give EVERYONE MONEY so the whole country can be rich! Don’t ever attempt to think about these wonderful ideas! Implement them! Because they sound good, they feel good, and gosh darn it they are just wonderful ideas.
I am feeling extremely uncharitable anymore.
I worked very had for what I have, others should do the same or get used to living without. Oh, politicians around the world that come up with this garbage way of stealing our money should be ..... well, dealt with.......every damn one of them.
One could always motivate the Millennial generation by simply torching the abodes they live in. Pint of petrol, that sort of thing.
I suspect certain groups of 25 yr. olds would have a much easier time getting the money than other groups.
quote “We need not just some tinkering, but some big and dramatic solutions”
um... socialism isn’t a solution.. socialism IS the problem!
Of course the young don’t have as much as the old. They haven’t reached their prime earning years, have less valuable skills/experience and haven’t been earning/saving as long. Its just common f’in sense.
“”a trend that politicians have been slow to address in the wake of the global financial crisis.””
HUH?
Let’s put a bounty on politicians!! We tend to blame the recipients of such largesse and yet, they are not the ones complaining. The politicians wants votes and know no better way to get them than giving away the farm.
Those Brits are loco!!!! Well, can’t say much for us either...
Allowed investments: wide latitude here. ETFs to make it simple.
Check back 40 years from now and the U.K. will be more wealthy than Switzerland. Socially there will be tremendous advances in everything. Families will be united across generations and prosperous.
We ought to do something like this here too.
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