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Markowicz: Why Should Gen X Pay for Millennials’ Free College, Health Care?

‘We picture an old rich man will pay for it; those old rich people are not working anymore’

EXCERPT:

MARKOWICZ: “So, you know, Generation X is one of those forgotten generations. We talk a lot about boomers, we talk a lot about the millennials, and now Generation Z — "

PAYNE: “This is the 40 to 54-year-old group?”

MARKOWICZ: “Yes, right. And they were hit really hard by the Great Recession. Full 20 percent of them don't think that they're going to ever retire. They don’t have any savings. And yet, when we talk about who's going to pay for all the free proposals, canceling student debt, free college for all, it's going to be Generation X. We picture, like, an old rich man who's going to be paying for it. Those old rich people are not working anymore. So you can’t tax their income, and Generation X will be left holding the bag.”

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