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Who is hit hardest in this recession?
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<blockquote data-quote="wkmac" data-source="post: 524494" data-attributes="member: 2189"><p>For the moment I'd agree that More's point about Seniors seems the more accurate as boomers like myself can defer retirement if you will. However, on the longhaul, I think younger taxpayers will suffer the most as boomers first deplete Social Security and Medicare which will force younger taxpayers to most likely have to pay higher tax rates and then on top of that these same young taxpayers will be left the debt burden of what we've created over the last 30 plus years since Nixon killed Bretton Woods and we propped up the global dollar as reserve currency with oil rather than gold.</p><p> </p><p>I'd rather cut gov't now and take the hit myself (even pay higher tax if need be, it is our mess) along with my generation than for my kids to have to suffer the inflationary financial/debt burden of what could come in later years.</p><p> </p><p>jmo</p></blockquote><p></p>
[QUOTE="wkmac, post: 524494, member: 2189"] For the moment I'd agree that More's point about Seniors seems the more accurate as boomers like myself can defer retirement if you will. However, on the longhaul, I think younger taxpayers will suffer the most as boomers first deplete Social Security and Medicare which will force younger taxpayers to most likely have to pay higher tax rates and then on top of that these same young taxpayers will be left the debt burden of what we've created over the last 30 plus years since Nixon killed Bretton Woods and we propped up the global dollar as reserve currency with oil rather than gold. I'd rather cut gov't now and take the hit myself (even pay higher tax if need be, it is our mess) along with my generation than for my kids to have to suffer the inflationary financial/debt burden of what could come in later years. jmo [/QUOTE]
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