My Millennial readers are the best and the brightest. They’ll probably agree that, for the most, theirs is “a generation of idle trophy kids” (a Jennifer-Graham coinage).
Still, America worships youth, no matter how dumb. (The economically nascent Chinese do the exact opposite: revere experience.) To enhance his cool quotient, every Boommer and Gen Xer on TV has been belaboring the theme of generational theft. The country’s national debt amounts to stealing from “our children.” Obamacare sticks it to the kids.
Avik Roy at Forbes beats on breast: “Why Aren’t Millennials Marching In The Street Over Obamacare?” Roy wants to know. After all, people his age have declared war on the “generation born between 1977 and 1995.”
… by design, this law can work if and only if enough young people are willing to pay premiums far higher than are actuarially fair in order to subsidize workers my age who on average earn far more than the young workers who are subsidizing them. Even if one takes into account that Millennials in the long run eventually will become old themselves and benefit from these subsidies, Obamacare still is an extraordinarily bad deal that effectively would force today’s 18-year olds to pay 18 percent more for their medical care over a lifetime than if each generation paid its own way. Such an age-related tax is unconscionable. Imagine if sales taxes or income taxes included a surcharge for everyone who happened to be a twenty-something. If this idea sounds preposterous, welcome to Obamacare.
Highly productive, wealthy, well-employed, slightly older sorts, who’ve worked hard for what they have, are hard at work generating contempt for their kind.
I sincerely hope the contempt they’ve ginned up for themselves sits well with Boomers and Gen Xers. Since Millenials are big on Obama—and thus deserve everything they get, from more debt to ZerO. Care—I’m sure they’ll also grow into the idea of rationing care for their elders (death panels).
Politically, Millennials were among Barack Obama’s strongest supporters in 2008, backing him for president by more than a two-to-one ratio (66% to 32%)
Be careful what you wish for, stupid. There is no need to teach your precious progeny still more disrespect for their elders.