There is no doubt that using national insurance as the means to raise the social care levy hits working-age people hardest, and that recent generations of young people have had an incredibly tough time economically. So why aren’t they more angry? thetimes.co.uk/article/boomer…
A person of working age with average earnings before the pandemic will now pay 20% of their income in income tax, National Insurance contributions (NICs) and the new levy.
They may be repaying their student loan too.
A pensioner receiving the same amount in pension income will pay almost half that.
A pensioner receiving the same amount in pension income will pay almost half that.
Only about 20% of the UK population is over 65, but, since 2007, two thirds of all the extra wealth created in the UK has gone to them.
Much of this is driven by the incredible rise in house prices, which increased by 227% between the 1970s and 2019 in real terms, while wages stagnated, particularly for recent cohorts of young. 
The pre-war generation and baby boomers were born at the right time to benefit from this, with eight in 10 ending up owning their now vastly more valuable homes.
It has been utterly different for many millennials — only four in 10 of whom are homeowners.
It has been utterly different for many millennials — only four in 10 of whom are homeowners.
This is the result of huge economic forces, not younger people’s spendthrift ways and obsession with avocado on toast, as is still too frequently suggested.
And yet despite this litany of decline, and patronising “advice”, younger generations are not, in fact, up in arms. Why is that? asks @BobbyDuffyKings.
Read more: thetimes.co.uk/article/boomer…
Read more: thetimes.co.uk/article/boomer…
Do you think the young get a raw deal in modern Britain?
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