Monday, September 21, 2009

Intergenerational Injustice

Pajamas TV offers an interesting look at the intergenerational impact of the national government's recent bailouts and stimulus.

If you are college age or younger this is must viewing.

If you are an adult with children, you may also be interested in viewing, but maybe you will be even more interested in trying to keep this away from your children. Why?

Consider that when I followed this link I discovered that I can expect to pay about $276 per month until I die for the bailouts and the stimulus. That will be a total of only about $76,000 because of these government actions. In contrast, my son, who is now 9, will pay about $285 per month across all the years that he is a federal income taxpayer. My son's total payments for bailouts and stimulus, this time around, will be about $154,000 over his lifetime. Of course, this is only a small part of the impact of today's government policies on my son since it calculates nothing for the impact of social security, medicare, health care "reform," etc., etc., etc.

I think this illustrates pretty nicely why I follow Thomas Jefferson in concluding that government debt is intergenerationally unjust. My son is still quite a number of years away from voting age, and by the policies of our government we are binding him to pay for our own bailouts and stimulus.

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