Senior Americans Cost Too Much

While many things raise my blood pressure these days, nothing sends me to keyboard faster than yet another billionaire complaining about “entitlements” like social security.

In the article I’ve linked, Stanley says “I want to go after entitlements. It’s where the money is,” he said. “This generation has got to take a cut....right now current seniors, you’re going to get 100 cents on the dollar. Future seniors looking at five or 10 cents on the dollar, is it not unreasonable for us to go to 85 or 90 cents on the dollar?”

This is central to the idea that a society can support an extreme concentration of wealth, or democracy, however not both. With the political and dark money donations people like Druckenmiller can readily make the fundamental concept of “one person, one vote” is a punchline in a joke told at CPAC. And to be clear, I’m not against wealth when created through innovation and risk. However wealth transfers and externalities simply take from society without creating any benefit or value.

While the premise -our tax dollars should be appropriated and invested wisely to protect our economic future, going after programs like Social Security, Medicare, the Public Education system, infrastructure, and other vital programs that contribute to the quality and dignity of everyday American life, while billionaires like Druckenmiller have had their taxes slashed in the Trump/GOP budget (which added $7 trillion to our national debt is moronic. And pay careful attention to Druckenmiller’s silence on his tax cut.

See the complete article on CNBC: https://www.cnbc.com/2023/11/01/stanley-druckenmiller-says-government-needs-to-stop-spending-like-drunken-sailors-cut-entitlements.html