The fabled “Great Redistribution” of generational wealth seems less and less likely as Baby Boomers grapple with the skyrocketing cost of elder care (paying an attractive young woman to react to Steely Dan on YouTube)
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The generational wealth currently held by aging boomers WILL be redistributed. It just won't go to THEIR children and grandkids. Mostly it'll go to pharmeceutical companies and the companies that own and operate nursing homes while small amounts will dribble down to low-paid elder-care-workers.
it's okay, I'm sure that the wealthy capitalists will hear about a giant redistribution of wealth and not immediately start thinking of ways to take that money themselves
"I like the groove...nineteen...oh, wait is he talking to a teenager?...eww...maybe it's calling the guy out?...yeah, I'm gonna guess they wrote this during Me Too...ok, wow, this is something"
The ones who still have money are going "yknow what? Let's take a $20k cruise once a year until we can't afford it anymore with wealth from our parents!" and when their kids go "we could use $3k for medical debt", the parents go "better pull yourself up by your bootstraps!"
There will be very little. The medical industry has been taken over by venture capitalists and the purpose seems to be milking this group of all their money, and it's working.
I am unclear on your perspective so I’m not trying to challenge you per se, but I’m not sure how this applies to those whose net worths exceed $10 million.
Passing on wealth has been a great myth for years. I remember my parents telling jokes about using their kids inheritance to party. It wasn’t a joke when the addictions and poor decisions followed. Most never see wealth transfer even in good times. It takes a lot of self discipline to transfer $. 🤦♀️
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Long term care is the Final Boss of wealth extraction.
'Cause this is where the Steely Dan references are.
The MC has been ignored and hurting. It's at a head now.
How much more screwing w the American people take? Half think Trump is their economic savior as it get much worse.
It's up to the American people being screwed or not!
That’s all we want. You can keep your $5 million!
https://youtu.be/qjjs4thy-R0?feature=shared