Long reign of the boomers

In 1992, Bill Clinton became the US president. He was born in 1946, boomer year one. Eight years later, George Bush became the US president. He was born in 1946, boomer year one.

Twenty four years after 1992, it was 2016. In that year, Donald Trump became the US president. He was born in 1946, boomer year one.

Boomers, as the largest demographic in the western world, have reigned over the world for a long time.

The boomers first flex their political mussels in 1980s. The slogan of the age was self-reliance and low tax. The boomers were in their 20s and 30s then, the most productive ages. Low tax policy was popular among the young workers. They got to keep money for themselves. There was little political resistance for the low tax policy. Young people were the dominant demographic group. There were few old people around.

Forty years later, in 2020s, the boomers are still the dominant demographic group. They are still the dominant political group. They become increasingly dominant. But they are no more young. Most are retired or retiring. They no more favor self reliance and low tax. Instead, they demand and get high pension deduction from the working population to fund their pension benefit. In 1980, the deduction rate for CPP (Canada Pension Plan) was 3.6% of the income. Today, it is 11.4% and growing.

With continuous aging of the population, the reign will continue to tighten. The political and financial exploitation of the young will intensify. The young should and could carve out your own niches. But you need to have a good grasp of the reality.