Over 65? Congratulations, You Own the Economy
The elderly are physically and financially healthier than ever. So why do their needs keep taking priority over younger generations?
The average net worth of a person aged 65 to 74 was $1.8 million in 2022, up 178% from the same age group in 1989, adjusted for inflation.
in 2019 the federal government spent more than $29,000 on everyone 65 and over through Social Security, Medicare, civil service and military and retirement benefits, five times what it spent on every child under 18
The ageism in this economy is kinda wild. If all shares are owned and all landlords are over 55, the old people call all the shots. They make decisions on everything. They are the recipients of all the money in the economy. And if that wasn’t enough, they get all the government handouts in addition. This makes it so wild that some people are calling for tax break on retiree property tax - why would they make the generational divide even wider?
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