Monday, April 16, 2012

Fairness Is In the Eye of the Beholder

Living in America, any discussion of taxes and fairness seems to revolve around high and low income earners, i.e., rich vs poor in terms of income.  In Europe, that discussion tends to revolve around high and low net worth statements, i.e., rich vs. poor in terms of asset amounts.

However, I think England and Canada may have the proper framework for the discussion.  They see it in generational terms.  Is it fair to tax our grandchildren for our current entitlements?

While I doubt anybody would seriously think that such an approach to tax our grandchildren would be fair, one must then determine the all-important details of who pays how much and when.  But, there is still a difference.  It energizes the young people.  They have an understandable interest in the discussion.  It is no longer another boring subject that old people discuss endlessly.

History shows that it is mostly young people who take to the street rioting, and that may be just the extra push we need to break the current political paralysis in Congress.  Nothing seems to be working right now.  If that is what it takes for Congress to do their job of protecting future generations from us old people now, than I look forward to watching our kids and especially our grand-kids on television . . . don't you miss the 1960's just a little bit anyway??