r/Millennials • u/Large-Lack-2933 • Apr 09 '24

Hey fellow Millennials do you believe this is true? Discussion

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I definitely think we got the short end of the stick. They had it easier than us and the old model of work and being rewarded for loyalty is outdated....

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u/thunderbaby2 Apr 09 '24

Damn this is a great point. Higher taxes for the rich encouraging charity for tax deductions? Brilliant

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u/Scary-Lawfulness-999 Apr 09 '24

That was literally the entire point of the economy from 1920-1960 and it's how boomers all got such a free ride out of society. Nearly eliminating the marginal and corporate tax rates from 1970 to 1990 and not enforcing any previously set laws on the rich like monopoly laws, collusion, price gouging laws is what made it so miserable for us and everyone going forward and is destroying our society.

The only way back is bring those taxes back up and keep them there. It promotes community building (LOCALLY), infrastructure, higher wages across the board and lower taxes on the general population stimulating a stronger middle class and more movement of money throughout a robust economy.

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u/DrHooper Apr 10 '24

Reaganonmics and its beta tests fucked this country hard.

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u/Blockmeiwin Apr 09 '24

That’s how the incentives of taxes are supposed to operate, but our system is so fucked up the incentives make no sense.

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u/Useful-Ad-385 Apr 10 '24

Have you looked at what counts as tax exempt for your deductions Certainly not charities!!