The Plan to End Boomers' Political Dominance - The Atlantic - 0 views
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one of the great divides of modern politics: young versus old. In Britain, age is now a better predictor of voting intention than social class. Overall, the Boomers voted for Brexit in 2016 and the Conservatives in 2017; their Millennial children voted Remain and Labour.
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The debate is also about so much more than abstract disagreements over policy and government funding.
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Caring for the elderly, for example, becomes wrapped up in assertions of “just deserts”—I’ve worked hard all my life and paid my taxes—and fears about money-grubbing children selling off their parents’ houses. It is also, like taxes on inheritance, a subject that prods at many people’s deep desire to pass something on to their offspring.
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Perhaps some are jealous of what appear to be greater opportunities afforded to younger people, bemused by younger generations’ lifestyles, and fearful that their own values are seen as outdated.
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The trouble was the sheer number of Boomers. As a big generation, the Boomers had achieved political and cultural dominance. They were no more self-interested than any other group, but they warped government priorities. And that was unfair to everyone else. Boomers, Willetts argued, were not okay.
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Both sides claim that the other is being condescending. Some Boomers argue that the word itself has become a cover for ageism; Millennials roll their eyes and reply with the phrase that has come to encapsulate their weariness: “Okay, Boomer.”
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Boomers have bent the gravity of politics toward themselves and their needs. They buy newspapers. They vote. They wield their spending power effectively. Their voice is loud. To build a fair and just society, the question then must be: On everything from elderly care to housing, how do you persuade them to vote against their own interests?
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“When we have all this power, we shouldn’t be surprised when younger people are rather resentful,” he said. “I’m surprised they are aren’t angrier.”
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the rage tends to come not from Millennials, who feel disadvantaged, but from the Boomers, who feel attacked.
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In Britain, for example, Boomers have opposed housebuilding, leaving the country with a chronic shortage that protects the value of their homes but traps younger people in the expensive private-rental sector. (In 1980, the average private tenant spent 10 percent of their income on rent. That figure is now 30 percent.
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Boomers have successfully deterred politicians from devaluing the state pension, even as salaries and working-age benefits have stagnated. The result is that pensioner poverty has halved since 2000, whereas poverty among people of working age has risen
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defensiveness can sometimes manifest as retaliatory accusations that younger generations have it easy. The intergenerational debate has spawned its own weird jargon: “Avocado toast,” for example, has become shorthand for the argument that Millennials splurge their salaries on good living, rather than saving for a home like their parents did
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the problem is particularly acute in Britain, because of the country’s steep fall in home ownership in recent decades. The British rental sector is much more “mom and pop”—literally. “Something like 20 percent of Boomers have a second property that they rent out,” Willetts said. That means there is a direct transfer of wealth from younger renters to older asset-owners.
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How, though, do you explain to otherwise reasonable retirement-age voters how much damage their demands are causing to their children’s generation—without completely alienating them? “In politics, you’re not a kamikaze pilot, you’re not on a suicide mission,” Willetts said. He told the Boomers that the houses they owned had been largely built in the 1960s and ’70s so their parents had somewhere to live; they now had a similar obligation to allow more building for their own kids. “That was the only argument that gave them pause,”
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differences within generations do matter, though, because rich Boomers, the luckiest part of a lucky generation, will leave their money to their children, further entrenching inequality. If the value of assets is rising faster than incomes, we are heading for a society where wealth matters more, and earnings matter less. The problem will not resolve itself without intervention.
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One obvious answer is to build more houses (bad news for the residents’ associations who want to preserve their unblocked views or quiet roads) and ease lending criteria for younger people, to make it easier for them to get mortgages.
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Willetts has a more radical idea: Offer younger people £10,000 when they turn 30, money that they could put into a pension, use to start a business, combine into a down payment, or spend on education or training