What the boomers leave to their grandchildren

$23 trillion in debt.  2019 interest on that debt:  $479 billion.  Divided by the number of working Americans, 158 million, and you get $3,000 that the average working American is liable for.  Just the interest.  No principle.

So if you’re 21 and looking forward to paying income taxes throughout your working life (40 years) you’ll pay $120,000, in 2019 dollars.  And every time the debt goes up by a trillion (something both Republicans and Democrats have a recent history of doing) you’ll owe an extra $75 a year.

The young people of this country are getting ripped off.  It’s a huge wealth transfer, from  the young and poor to the old and rich.  Ass backwards, in other words.

Maybe if they realized what was happening they’d want to do something about it  That’s what the Reagan Project is all about.  There is something they can do.

I plan on sharing this message with some Young Republicans at Cal.  We’ll see what happens.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s