…my young Obama voters.
Here’s what’s coming for you.
GERMANY is proposing to levy extra taxes on the young to pay for the costs of the country’s growing numbers of old people, under government plans for a ”demographic reserve” levy.
Angela Merkel’s Christian Democrats have drafted proposals that, if law, would require all those over 25 to pay a proportion of their income to cushion Germany against a looming population crisis.
The German Chancellor’s ruling party is seeking extra sources of revenue to pay for soaring pensions and bills for social care costs as Germany’s ”baby boomer” generation ages amid a decline in the birth rate.
The proposals, to be adopted by Dr Merkel’s party cabinet after the Easter break, have not yet set a figure on the age tax but officials are considering a special levy of about 1 per cent of income.
Because of a slump in Germany’s population, as more ageing Germans retire there are fewer young workers to replace them as taxpayers to fund generous welfare and pension arrangements.
Estimates from Germany’s federal employment agency predict that the workforce will be reduced by 7 million people by 2025.
”We have to consider the time after 2030 when the baby boomers of the ’50s and ’60s are retired and costing us more in health and care costs,” said Gunter Krings, who drafted the Christian Democrat position paper.
Unless that you learn that:
- Universal health care is not free, it is just universal and very expensive.
- Taxes are not “investments”. Governments do not “invest”, they spend. There is a big difference.
- Progressive tax programs are regressive to the productive segments of society.
- The greater percentage of wealthy people earned it rather than inheriting it.
- Riches are obtained by accepting financial risk. Sometimes you win, sometimes you don’t.
- Net worth is not equal to income.
- Government is an expense to the economy, not an asset. We consider an investment in the financial markets that yield less than 3% to be a bad investment yet historical rate of return for Social Security is less than that that and the program is insolvent.
It isn’t politics that will end the slow roll to socialism, it is demographics. Like in Germany, too many older folks are now expecting the promises of government to be paid. Politicians have been making promises for 60 years that you are now about to be presented the bill for.
Want more servitude for yourself – vote for Obama and the Democrats.
Welcome to your future.