Time To End The Senior Citizen Discount?

May 21, 2013 in Daily Bulletin

Alex Mayyasi believes that it’s time to end the senior citizen discount:

  • Giving benefits to seniors dates back to the Great Depression which affected the poor disproportionately.
  • However in the 20th century there’s been a significant decline in poverty among the elderly.
  • Now it is the millennials – the youngest generation – that is poor.
  • And it doesn’t seem like the millennials will escape poverty anytime soon – they carry $1 trillion in student debt and have to deal with a soft job market.

Mayyasi concludes by arguing that we actually need a discount for millennials – find out what he thinks that discount should be called, graphs that demonstrate poverty and net worth by age group, and more over here.

Source: Priceonomics