Generational Theft: How Entitlement Spending is Stealing Opportunity from America's Youth
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- Опубликовано: 22 сен 2013
- NYU Trustee Ken Langone (MBA '60), educator Geoffrey Canada and investor Stanley Druckenmiller joined the NYU community in a discussion on "Generational Theft: How Entitlement Spending is Stealing Opportunity from America's Youth." The discussion was moderated by Bloomberg TV's Stephanie Ruhle.
I listened for the information, but I “came” for Stephanie’s mastery of leg, foot, and shoe work.
56:30 Is the dangle shoe show we need! She is LIFE!!!!
56:30 Stephanie Ruhle's a shoe play goddess
Watching this in 2022. Unfortunately no progress has been made and we (young people and incoming generations) are in an infinitely more challenging situation
great legs and attitude stephanie ruhle
56:37 :) wonderfull
thx for the information this guy 78 year old really smart infos he gives me with the printing presses nice job dude
I'm liking Kenny. I love passionate angry people..
Oh yeah. Billionaire oligarchs who spend millions to block congress? Yeah I love arrogant self serving dicks like him.
Although many people own assets (mainly houses), assets are disproportionately concentrated among the wealthy -- that's what makes them wealthy. Assets are also disproportionately concentrated among the older, not the younger.
So ultra-easy monetary policy inflates the wealth of the older and the already wealthy, relative to the younger and the less wealthy.
Once Steph crossed those legs the rest of the stage is empty!!!????😅😅😅😅😅😅
The other clear problem is the disproportionate increase in costs in health for old people.
Maybe they dont need to try to live forever. Maybe healthcare is the fastest growing inflation category ever (true).
Maybe the healthcare system is driven by hospital and education monopolies (true)
Well if speak any business school students a lot knows about this issue but don't care as the current issue is student debt. But how many people could make a DCF? Not many so the issue is that we are focused on problems right now.
There's little chance of a wealth tax in the US, and it can't solve the problem. Wealth is a one-time thing. Countries with elaborate social welfare systems fund them with a value-added tax, a kind of national sales tax. The most recent was imposed in Canada in the 1990s and was very unpopular.
Entitlements (19%/GDP) are only half the story...the other half is _Return on Investment_ (20%/GDP), which the panel completely overlooks. =/
[Wonkish] An "optional" net wealth tax is a fairer way to tax individuals based upon ability to pay. A 2% tax on average net wealth (excluding $15,000 cash and $500,000 retirement funds) combined with a flat 8% income tax (and no job killing payroll taxes) would be reasonable for more than 95% of the population. An optional 26% income tax rate (plus deferred capital taxes on gains, gifts and estates) could be elected by anyone. A 4% VAT could also reduce the C corporation rate to 8%.
Druck & Geoff r doing a wonderful thing. So important when we're drowned in propaganda from a huge gov't bureaurocracy re the goodies they can give us, ignoring the severe cost. Understand why Druck feels need to credit gov't with some utility (he's no anarchist), but truth is on closer examination gov't plays almost zero constructive role in technological innovation and can in no way compete with the free market in this area. Tech innovation is what drives prosperity and standard of living.
"That dog doesn't hunt."
This problem with the baby boom generation could be easily corrected if the income limit on what can be taxed for entitlements is raised slightly above its current rate of $106,000.00. Currently millionaires and billionaires contribute no more percentage wise to these entitlement programs than do low income working people. It is this needed change that people like Mr. Langone want to avoid and distract you with by calling this generational theft.
I think that's a compelling idea, as long as its factually supported. But the reality is social security is money I put into it.
On the other hand, govt needs to reduce their 50% spending of GDP. Somehow, people are missing the main problem.
The problem is simply greed and waste of govt and individuals. A problem that will never end.
I like what they're trying to do, and contrary to what some of the commenters say, I don't get the sense that they're being ideological about the solution-only that some political solution needs to be achieved. I don't think taking their message to the youth is the right approach though. Vietnam was different because the problem was immediate. College students aren't going to get revved up about a more distant problem without a clear bad guy. These guys should be taking this message to the elderly. They're the ones with the political clout, the time, and the resources. And I think most are bothered by this issue even if it may affect them directly. Think: 50,000 geezers marching on Washington with their grandchildren. Much more effective message than a bunch of horny college students waving signs.
What a joke. It's amazing how those who truly game the system, have the masses brainwashed into complacency, unable to grasp that this is all a diversion....
The US entitlement programs are not means-tested. There is an income inequality issue here, where people with high incomes (both working and retired) are getting 100% benefits. Means-testing means concentrating the benefits among people of more modest means.
Wealth inequality is a different, although related, issue. Wealth inequality due to the general advance of the economy, innovation, and success is fine. But the wacky monetary policy of the last generation inflates asset prices.
SSI is an entitlement program.
55:07 la mujer sentada frente a stephanie le vio hasta las nalgas a la ruhle
The Answer is 20-30 yr olds need to BREED. If young couples had 3 kids then the future American Seniors would have enough workers to pay into entitlements for their folks(20-30yr olds today!
Mi devo mannaggia Gesu'!
The opening speaker looks kinda like Ryan Reynolds. Just saying.
Why do some of you keep asking and demanding MORE from the "government" which really has no source of funding except issuance of debt (which money) or higher axes which stifle investment? it is not about the top 1% and higher taxes. It is about insatiable spending. It is about too many people asking (demanding) what their country can do for them, instead of taking personal responsibility and accountability for themselves and their family. Hope you all feel great stealing from our kids.
SS is self funding
Were Druckemillers numbers divided by population? Otherwise, it doesnt account for the growth in old people.
Esta mujer creo que es un poco calentona
Incompetent cameraman