Do baby boomers feel guilty about shafting younger generations?

wageslave

Cleaver wrote: »

And in your eyes that is the fault of a generation who decades ago generally worked hard, knuckled down and were pretty sensible with their money?

But that wasn't what made them their cash Cleaver. Seriously.

They bought property and it went whooooooom.

I am not saying they should feel guilty. They worked and made a quid and that is perfectly acceptable.

But every generation owes the next one.

I owe my daughter and my Ma owes me. The last generation gives way to the next. It is why we weren't created immortal.

When you make a killing on something and by that deny the people coming behind you a stake in the future then by all that is decent, you owe them some kind of a start.

Let me put it on a personal basis, I am useless at abstract stuff.

My Da made a huge amount of money buying property. I have made (well nothing even approaching what he made) but I have made a bit.

I have a daughter coming up. As my Da had.

Should I just laissez le bon temps rouler or should I look to the next generation and hope that she in her turn will do the same?

It isn't about guilt but it is about obligation.

HAMISH_MCTAVISH

Malcolm. wrote: »

I feel you're made a leap to an incorrect conclusion and/or misunderstood me.

Yes, you keep saying that.

And yet you seem to keep wanting to blame boomers anyway.

PasturesNew

ukcarper wrote: »

Wasn’t income tax higher in the seventies?

I think I remember it being 30%, maybe as high as 33%. And no minimum wage, no annual leave.

ukcarper

wageslave wrote: »

But that wasn't what made them their cash Cleaver. Seriously.

They bought property and it went whooooooom.

I am not saying they should feel guilty. They worked and made a quid and that is perfectly acceptable.

But every generation owes the next one.

I owe my daughter and my Ma owes me. The last generation gives way to the next. It is why we weren't created immortal.

When you make a killing on something and by that deny the people coming behind you a stake in the future then by all that is decent, you owe them some kind of a start.

Let me put it on a personal basis, I am useless at abstract stuff.

My Da made a huge amount of money buying property. I have made (well nothing even approaching what he made) but I have made a bit.

I have a daughter coming up. As my Da had.

Should I just laissez le bon temps rouler or should I look to the next generation and hope that she in her turn will do the same?

It isn't about guilt but it is about obligation.

You talk as if all baby boomer live in big detached houses of my old school friends 1 rents a council house 2 live in ex council houses they own 1 bought theirs on right to buy. Another friend and me have larger houses but we moved out of the London suburbs. I’m the only one with a good pension.

Cleaver

wageslave wrote: »

But that wasn't what made them their cash Cleaver. Seriously.

They bought property and it went whooooooom.

I am not saying they should feel guilty. They worked and made a quid and that is perfectly acceptable.

But every generation owes the next one.

I owe my daughter and my Ma owes me. The last generation gives way to the next. It is why we weren't created immortal.

When you make a killing on something and by that deny the people coming behind you a stake in the future then by all that is decent, you owe them some kind of a start.

Let me put it on a personal basis, I am useless at abstract stuff.

My Da made a huge amount of money buying property. I have made (well nothing even approaching what he made) but I have made a bit.

I have a daughter coming up. As my Da had.

Should I just laissez le bon temps rouler or should I look to the next generation and hope that she in her turn will do the same?

It isn't about guilt but it is about obligation.

A great post wageslave.

We read a lot on here, and other places, that a huge number of parents are helping their children to buy homes. I'm sure Hamish will tell us in 3.4 seconds exactly what percentage of FTBer mortgages are funded via parent money, he knows this type of stuff.

Whether this is through guilt, obligation or anything else, isn't this them passing on their wealth to the next generation?

Kohoutek

PasturesNew wrote: »

I think I remember it being 30%, maybe as high as 33%. And no minimum wage, no annual leave.

We were still repaying the debt from the war at that point. We'll still be repaying the debt from bailing out the financial sector and the £200 billion/year deficit spending in thirty years time too.

Radiantsoul

Cleaver wrote: »

A great post wageslave.

We read a lot on here, and other places, that a huge number of parents are helping their children to buy homes. I'm sure Hamish will tell us in 3.4 seconds exactly what percentage of FTBer mortgages are funded via parent money, he knows this type of stuff.

Whether this is through guilt, obligation or anything else, isn't this them passing on their wealth to the next generation?

The obvious counter argument is that this is unfair on those whose parents don't own property or have great wealth.

Malcolm.

HAMISH_MCTAVISH wrote: »

Yes, you keep saying that.

And yet you seem to keep wanting to blame boomers anyway.

Sorry Hamish, you were too late to the party.
It has already been summed up beautifully.

ukcarper

Kohoutek wrote: »

We were still repaying the debt from the war at that point. We'll still be repaying the debt from bailing out the financial sector and the £200 billion/year deficit spending in thirty years time too.

Probably true but it doesn’t alter the fact that babyboomers were highly taxed

Oldernotwiser

Malcolm. wrote: »

I am talking about the present where one in five eighteen to twenty four year olds are not in work, education or training. With many of those that are increasingly unable afford to buy there own home.

Very few people of this age group ever dreamt of buying their own home in the 60s and 70s. Deposits needed were high and,more importantly, the woman's income wasn't taken into account!