Older generation want too much too late

macaque_2

The older generation had cheap houses, free university, well paid jobs, good pensions, free dental care, miras, low stamp duty, low council rates, low taxes and good state benefits. Now they want the young (many of whom have to take low paid jobs and/or are saddled with ever rising university debts) to:

• To buy their houses at fantasy prices.
• Work like slaves to provide them with health care and pensions in their old age

Whilst consumer goods have become cheap, many of the basic necessities for a civilised life are beyond the reach of younger people.

DervProf

macaque wrote: »

Now they want the young (many of whom have to take low paid jobs and/or are saddled with ever rising university debts) to:

• To buy their houses at fantasy prices.
• Work like slaves to provide them with health care and pensions in their old age

I think you summarise the situation quite well. However, I don't think it's fair to tar all of the older generation with the same brush. I do think that many of the older generation probably don't know how "lucky" they were to be born when they did. Times certainly have changed, and while the younger generation enjoy such advancements as computer technology, interweb, better healthcare etc, I think many will not enjoy such a comfortable lifestyle as they would have done if they were born 40 years ago.

Oldernotwiser

macaque wrote: »

The older generation had cheap houses, free university, well paid jobs, good pensions, free dental care, miras, low stamp duty, low council rates, low taxes and good state benefits. Now they want the young (many of whom have to take low paid jobs and/or are saddled with ever rising university debts) to:

• To buy their houses at fantasy prices.
• Work like slaves to provide them with health care and pensions in their old age

Whilst consumer goods have become cheap, many of the basic necessities for a civilised life are beyond the reach of younger people.

Income tax at 25%, mortgage interest rates at 15%? Dream on!

StevieJ

Oldernotwiser wrote: »

Income tax at 25%, mortgage interest rates at 15%? Dream on!

33% and 98% for higher earners (includes 15% additional tax on investments)

In the first budget after her election victory in 1979, the top rate was reduced from 83% to 60% and the basic rate from 33% to 30%

Rinoa

macaque wrote: »

Whilst consumer goods have become cheap, many of the basic necessities for a civilised life are beyond the reach of younger people.

Just visit your local town centre on a friday/saturday night to see where their money goes.

homelessskilledworker

Oldernotwiser wrote: »

Income tax at 25%, mortgage interest rates at 15%? Dream on!

Sounds like the 80's, and as far as I am concerned you keep all your I phones and flat sceen TV's, the 80's were great years. As a young boy(yes boy) I was able to buy a 3 bedder victorain house that I still look back in fondness today, and on an trainee wage.

You do get the feeling through talking to the older generation that the 50's were also special.
All these gadgets that people go on about on this board that the youth are supposed to want more than anything else, housing for example.
I bet they are no different than most of us who just want more quality time with family and friends and a more simplistic relaxed life.
Put me in a place with rolling hills and a woodburner next to me and I would be happy to live my life out in a prefab or porta cabin, which I did once when I was working close to the Antartic

Barneysmom

I see what you're saying but is the younger generation prepared to live on cornflakes for dinner and jam sandwiches for lunch? I don't think so, it's all Starbucks and paninis these days.
I remember when my mortgage was 15% I thought I'd never have a cooked meal again.
Joining the TA stopped me from starving.

moneyinmypocket

Your picking and choosing many of the good bits, times where tough back then - medical care is much better putting cost on having a loved one around longer can't be done

SkyeKnight

Oldernotwiser wrote: »

Income tax at 25%, mortgage interest rates at 15%? Dream on!

Though the percentage of GDP taken in taxes is higher now than in the 1970s and 80s, so some other taxes must have been lower. National Insurance (6.5% in the 1970s to 12% today) and VAT (10% in the 1970s to 20% today) spring to mind. These make the total tax rate for average earners pretty similar to today. The rates for the highest earners were much, much higher in the past.

I'm sure interest rates of 15% were pretty horrific, but with inflation and wage inflation also high, the debt does get eroded very quickly so even that had some plus points.

Oldernotwiser

macaque wrote: »

The older generation had cheap houses, free university, well paid jobs, good pensions, free dental care, miras, low stamp duty, low council rates, low taxes and good state benefits. Now they want the young (many of whom have to take low paid jobs and/or are saddled with ever rising university debts) to:

• To buy their houses at fantasy prices.
• Work like slaves to provide them with health care and pensions in their old age

Whilst consumer goods have become cheap, many of the basic necessities for a civilised life are beyond the reach of younger people.

I missed this the first time round!

How many more people claim benefits now than used to be the case when some of us were young and how many more different situations are covered?

suburbanwifey

Barneysmom wrote: »

I see what you're saying but is the younger generation prepared to live on cornflakes for dinner and jam sandwiches for lunch? I don't think so, it's all Starbucks and paninis these days.
I remember when my mortgage was 15% I thought I'd never have a cooked meal again.
Joining the TA stopped me from starving.

Yip, I remember porridge for dinner, it wasn't fun but the mortgage got paid.