Don't worry, when you're old Muhammad and Rashid will pay for your retirement Nvm they're already on your taxes and state benefits :) but for sure they'll one day be making payments towards you kekekek
Netherlands is not a good place for young people. We might not have to pay a lot for the elderly BUT we have to pay 400k in euros FOR A NORMAL HOME. The new government is also focused on big farm companies, destroying ecosystems, lowering minimum income because uhhh why not? A 21% tax on books because the country needs to be even dumber I guess. Last thing the biggest party PVV is ruled by a person that makes all the rules and the party and is an open racist. Good country for young people's future...
I overheard boomers talking about going on their second cruise this year and then complain about the state pension being too low, I am becoming the joker
In my country (Spain), the state pays half of the cost of a trip for retired people (imserso), even when they get their double pension on summer, some recive up to 3-4k. That's way more than the average worker
@@Joan-kr1jo it's insane how they are treated, here in France 13% of GDP go to the state pension 30% of your salary is for them and they treat you like shit for it.
@@Joan-kr1jo The problem is that Spanish average workers aren't paid enough because your whole system is broken. Not only pensions. Working hours. People complaining about "being forced" to work a normal shift of 8 hours instead of the 11-12 you do usually work in these crazy split shifts. Crap salaries because the bargaining power of the workers is minimal. Just coincidentally, here in the Netherlands our salaries are quite OK, we are among the most productive workers AND, our trade unions to function. Just saying dude. And voting for Vox, etc, won't exactly solve your problems. Rather the other way around. Right wing populists in the rest of Europe have already shown that they promise left wing policies and that everybody will swim in gold, while applying hard-core neoliberal polices as soon as they get a grab on power. It's happening right now here in the Netherlands. They even threw the farmers under the bus, the very ones that they used as a spearhead of their populistic message. In my view, the only way out for Spain is to somehow survive peak boomer and once this older generation of entrepreneurs dies out, the younger ones may have a chance to normalize your labour market and make you less dependent on tourism.
Well at least the elderly made sure to allow lots and lots of housing to get built and didn't cynically block it so we'd have to desperately outbid each other and make them richer just to get a home!
Except the housing developments built by the pension funds are always ridiculously expensive to generate profits for the pensioners to the point where most people can't afford to live in them, neither for rent or buying outright. Thats the case in Denmark at least where I'm from. So they contribute to the housing crisis.
As a Spaniard living in the Netherlands, I have to say that the latter would be a really good place for young people if it wasn't for the EXTREME cost of housing that makes any of these pretty charts and statistics go out the window the moment you take a look at the prices and availability. A country can't be good for young people if housing is unafordable.
Yeah, I was wondering when that would be brought up. It may seem to be cheaper in the Netherlands but there is no place for young Dutch people. All the cheap housing is already given away to migrants and the old people still live in their old houses.
The average housing price that was sold in june 2024 is 468000 euro. 2 years back it was 400.00. With a median income (36000 a 40000 a year)you can get a loan of 180.000 (based on a 40 hour workweek) if you have a partner with a similair income you scrape it to: 360000, now you both need to save up a couple of years and have a 7% cash straight up and you are good to go. Thats how dire the dutch market is. Currently people are over bidding on average of 30.000.
@Brambazai not migrants, but reserved for elderly too often. I'm like "Oh an appartment for only 700 euro a month?" and then the text says "only 55 or older". And then they dare to complain young women don't have kids. My kids would be homeless.
I was just in Nordwijk, this morning, beautiful city at the coast, easy connections to Den Haag and Amsterdam, houses cost 170k - 400k€ mostly. That's super cheap and affordable. I am so tired of people claiming they have extreme prices. The last time we had 180k in Germany for a house, was 10 years ago. It is not extreme, especially not relative to the amount of money earned after taxes. The Dutch only earn very slightly less than the Germans, but have way lower housing prices.
@@LeegallyBliindLOLWhat are you talking about? Cheapest place in Noordwijk is starting 279k at the moment (46 m2), which is definitely going to be bought over asking. With that 46m2 you can't even raise a family and with current interest rates the mortgage would be somewhere between 1000-1300 a month, for what is basically 2 small rooms.
being young in Europe feels like being in an open air retirement home. Old people everywhere and you have to stay broke in order for the boomers to enjoy their pensions...
@@spambot_gpt7 it's also unfair than to have them pay for their children's education? being childless often is not a choice and people shouldn't be punished for it... in most European countries, people without children pay more taxes as well.
@@dv2483 , education is a net benefit on the population but a retiree is literally an economic dependent and the more they age, the less they generally contribute. Not a fair comparison at all.
@@dv2483 BUT children cost A LOT more than you would ever save on taxes, assuming you are working a real job. By raising children, you are doing a service to society. It's okay to honor that. Society would be smart to support childcare & education because everyone benefits from a stronger economy later on. By not having children, you are saving yourself a lot of time & money. That means you have more means to take care of yourself later on. Why should you be entitled to other peoples' children? It has been like this for basically all of human history. This entitlement is a luxury.
Once a portuguese journalist said that southern europe nations could evolve into gerontocracies, where the older generations outvote the younger resulting into increased taxation to preserve pensions and afford the increasing cost of healthcare, forcing young people to work more, resulting in lower fertility, perpetuating the cycle, with ever smaller younger generations.
Well, in the Netherlands we only build big expensive houses for rich boomers. While young people have to pay insane amounts of money for a shitty appartment.
That's what I was thinking. The purchasing power has to come from somewhere. If it isn't taxes, it's rents from ownership of property or businesses. You can't escape demographics..
Generation X owns the real-estate here. Young people can buy real estate as well, but it's going to be way more expensive while getting much less m2. The Netherlands had the individualization of society, but it's just waiting for forced collectivilization what the BBB wants or that the younger generations only get house ownership through inheritance.
@@fcassmann Dus als je de huur niet kan betalen dan moet je maar op straat leven of oprotten naar een ander land? Ik zie aan jouw profielfoto al van welke leeftijd je bent, jij bent voor de belastingbetaler straks ook duur wanneer je oud en ziek word. Vertrek jij dan ook maar?
Taxing the young is incredibly shortsighted as you basically stunt our growth and hence being less able to pay high taxes in the future when we are supposed to be well established. Young not forming families is a symptom of this not allowing the young to get access to what they need in order to progress healthy. The older generation should be allowed to work longer in order to pay for their pension and thereby lessen the burden for the young.
I don't know if there is a country that is not allowing to work longer. Retirement is a option. Plus I think people in France have more babies then in the Nordic countries so these things don't go together.
The problem is that if young ppl not paying, the gov will just borrow more debt. And in return, eventually, be paid by the same young ppl who refuse to pay the boomer tax. Hence, don't rely on China for your manufacture, because a deficit means willingly giving up your tax and your GDP to another country, and China could charge whatever it wants when you are no longer industrialized. Raising the tax on all Chinese goods by 50% to protect industrialized Europe seems reasonable.
When Politicians only look at the next election cycle, and companies look at the next quarterly earnings report, the future is completely disregarded in favor of short term gains/results
I'm fascinated how oblivious old people are to this problem. 40 year ago you could buy a house for a 2 yearly salarys, but now you need to work 30+ year to eave afford a house. Wages have increased since 2000 by around 35% while housing prices have more than double and purchasing power stayed the same.
they;re oblivious to it because it doesnt affect them. They already have a house and everything - they dont need to go looking for another one. Hells they dont even need to get a job most of the time. To those ones its just "you young ones are just lazy, you just dont want to work"
Well, I'm amazed how no one questions that cheap/expensive housing is the other side of the coin in this "boomer tax"; which is essentially class war. This video puts young workers against retired workers when companies are showing record profits even with stagnant economies and there is a massive wealth gap between capital owners and workers.
"purchasing power stayed the same" ahaha yeah right, prices of utilities +200% food +100% nicotine liquids +300% and it's just last few years after they were printing money during covid and giving it to their buddies. You need to be millionaire jut to NOT BE HOMELESS.
I think the last time you could buy a house with 2 years' salary in Bohemia was back in the medieval when the black death wiped half the Europe... 40 years ago though, you could get to housing by being in the party and being friends with the right people.
Be young in the Netherlands?? The housing crisis here is incredibly bad. You need over double the modal income to afford the average house. None of my friends can find anything and our lives are stalling or falling apart because of it. I'd be very interested how these numbers pan out if you include the wealth transfer through real estate. I bet the Netherlands would do a lot, lot worse.
Yeah i was so confused watching this video. Great to be young in NL? I was like how? Living in Poland now and I'm at least able to live normally vs what I get paid (relatively speaking comparing it vs living in NL before as Polish diaspora, just want to add that before I get attacked by other Poles)
In Portugal rents are double the modal income for a shitty apartment and we were paying for the old people lifestyle and houses. buying a house is just a kid's dream, houses in germany are cheaper than in Portugal and the modal income is 1100 euros a month (after taxes). I think the video just meant that the Netherlands are better option than other countries... right now the new government decided to max the taxes on young people(
My sister is 32, has a master of science, her partner is 32 and has a bachelor's in engineering. They both have jobs in their field and the only thing they could buy is a small shitty house in the literal ghetto of our city surrounded by neighbors on welfare. Yeah Netherlands is great 😐
The housing market in the Netherlands is absolutely borked. I got lucky by buying an apartment before 2020, but I feel for my fellow countrymen trying to buy any piece of real estate.
It's not stealing anything, it's just stealing from itself. In Romania I'm paying 48% of my salary, for no infrastructure, expensive prices, nothing that can make me say hey yes here are my taxes, it just goes in someone's pocket, and also the IT domain is very taxed here, it's not worth it. So obviously I'm moving in luxembourg where I get 10x my wage here and pay them taxes since they are so kind to me and pay me 10x what I get here in a month. at 26 years old I would have the same wealth as I would do in Romania at 62 years old. I'm not wasting my life for them. They are litterally rebuilding the same road, since I was in the 5th grade, now I'm 22, and it's still happening
A rare occurrence of another Romanian actually being aware and not just a patriotic lobotomite who would rather die for this shithole of a country. I salute you.
Chile's AFP is better, as it also invests in the stock market, not just government bonds; while the latter works for Singapore as they've elected reasonable politicians since their independence, in any other country you only need a Hollande or Biden to see your savings laid to waste.
Singapore is not really a good model for anything. It's tiny country relying heavily on guest workers, so it basically outsources a lot of the cost for elderly people to other countries. Aside from that, saving money doesn't solve anything. In the end, the real issue is consumption vs. production. If you have a lot of people consuming without producing, the economy of your country will tilt over. The structure of the pension system only decides in which direction it is going to fall. If you do it like Germany, you get a heavy tax burden. If you go the way of private investment, you get inflation. We often delude ourselves into thinking that money is a sort of container to preserve value. But this is only somewhat true. In the end, there has to be something to buy.
@@Volkbrechtagreed with you, to a certain extent At this point, no matter how well Singapore system works, as a Singaporean, I won't be going around tell others about it because it has always be counted with "it is a small island" and "Singapore is an exception" And they aren't wrong either. To me, if it works in Singapore, it work. Telling others to follow Singapore doesn't help Singapore in anyway. Singapore is a small island. We won't have much influence on the world stage. We just have to concentrate on improving our own system in our own way.
Exactly! This is why I left Europe: I refuse to pay for exactly the generations that constantly despise us, but expects us to pay for them while we will never ever get anything when we will be old!
@@Sun2Gway There is no way to escape it; as you say, it is instantly taken from your paycheck, and not only: yearly income tax on top of the monthly income tax deducted from your salary, VAT, tax on gas for those who need to drive to get to work, tax on cigarettes for those who smoke (which I don't), tax on electricity, tax on water and even tax on taxes like in France! And for entrepreneurs, it is even worse: they take more risks, pay more taxes but get much fewer benefits in return and are less likely to get decent pensions when they retire, if they even can...
How do you know that ? Stock Market had the best boom in there intire history ? You sound like grandpa complaining about crime, while it going down for more then 40 years now.
I like Danish I mean is not that horrible and also when I understand Danish I and understand too other 2 languages such as Swedish and Norwegian obviously not the same language but you can get the idea of being similar also, is close to Germany too.
Our generation can't afford a family, raise children or own a house. Result, further drop in birth rate which leads to desperate need for foreign skilled workers. This is cultural suicide. Old people are the cause for this cultural identity shift, while they are also the most vocal about it.
@@meu22422 it is crazy that this situation has spread all across Europe, democracy has gone bad as it turned into a gerontocraty giving power to a generation that is all but wise. Instead of selling their huge house to young families, they would rent them the small flats where couples can have no children while it should be the other way around, they should move in these flat of better dimensions for their old days, madness ! I think that the main problem is that, this generation does not want to get old. They are madly jalous of the youth. In France, what is even worse is that their pensions are higher than our salaries... I can't believe we let this happen. They are ruining our countries.
"alone" quite the opposite in most places of Japan, which is why they have such long lifespans. Japanese elderly in Okinawa are very sociable and will spend time together to offset their families' busy lives.
@@loudnoises8197 You have no idea what you're talking about, got it. Okinawa is a huge island and the practice occurs throughout even large city communities.
@@postblitz Okinawa is barely 0.1% of Japan's population of 125 million people. Also Okinawa has a famously different culture (Ryukyu) to rest of Japan where elderly loneliness is a larger issue. Just because one community are the outlier, that doesn't mean the entire country is doing well on that regard. Check on recent white papers, its a negative trend in Japan sadly
As a millennial approaching my 40*s with a child, we studied about the demographics in high school some 20 yrs ago so it's unacceptable to say ylwe didn't see this coming Every political leader has either been kicking the can down the road or fell asleep in the wheel in the last 30 yrs
More than Finland. We pay upto 42% income tax, then upto 28% GST/vat, then 28% car tax(can go upto 130%), 22% cess on car, and 12% road tax on car. And don't forget to pay toll.
@@subhrajeetsarkar3949 how about the "other" things like the insane inflation that our government has failed miserably at? And if we ask them any questions, they either ask us to leave the country, or declare us terrorists or against the whole country? Unbelievable, how voting for BJP twice only cost me as a civilian heavily.
@abc_cba the reality is that 95% of the population doesn't even work in any type of formal employment, so the government doesn't tax them anyway. They're making subsistence wages that they barely can live on, so taxing the overwhelming majority who are megapoor makes zero sense.
It's bad here in Australia too for young people- with a plan to scrap or heavily reduce the quality of the pension by around 2050 by using mandatory superannuation to effectively replace it (despite many 'younger' pensioners today receiving both super and a pension), the government is screwing over young people by making us pay for a pension scheme we may never receive ourselves; broken social contract.
@@Ray-ce4sn Housing prices are insane. It was somewhat affordable in my hometown where I still live, but in the last 2 years looking at the prices, it honestly feels like houses have gone up by 100k on average. It's still better than most of australia, but I don't want to live here anymore anyway
Dude you cant say the Netherlands is good for young people when we are going bankrupt for a shitty room, the housing crisis is so bad that at 26 years old i've given up on ever owning any property let alone starting a family. This place is a shithole for youngsters and we are leaving the country in flocks for it
I used to be a young person. and I agree totally that there’s too much burden on the young in many countries (maybe even all), and it’s not even just taxes.
The Netherlands is great for young people! I'm 22 years old, have a decent job with almost no student debt and it is absolutely impossible to buy a home. Lucky for me I spend so much in taxes that I might have enough money saved in ten years to be able to afford a one bedroom appartment.
Yup Italy is a country for old people, ruled by old people. Plenty of people who can't make a living with their wages (if they're lucky enough to have) and have to rely on their older relatives' pension. One of the reasons for the high debt burden is also that in the 70s and 80s, the socialist government bought votes by creating so-called "baby retirees", who worked for 25/30 years and retired with their full wage as retirement check.
@@M-tl4xt , that's why the only politicians that are looked positively in history are either those who were assassinated before they ever could have come to power or those that have started Ponzi schemes that another politician that has to deal with the economic mess it creates a few generations down the line.
Read "The web of debt" by Ellen Brown, we have an oligarchy of private bankers controlling the whole economy through a huge monetary scam. Our politicians are merely puppets to these and can change nothing.
Be young in the Netherlands?! Again an outsider not knowing the ins and outs here. Good luck finding a place in the Netherlands without rich mommy and daddy. And that’s for the foreseeable 10-15 years.
8:12 The Netherlands is not a Scandinavian country. Oh btw, because the pensions over here in the Netherlands are so small, they are more affordable, but also result in more boomers using houses as investment asset. This is one of the reasons why housing prices are very bad for young people who are looking to enter the housing market. In fact, I'm planning on moving away because of this. I mean, what's the point of life if you can't even take ownership of your own life by owning some basic aspects like a roof over your head... Unless you have some fancy high end master degree, there's not really a future prospective to look out for. I've started looking for a country where you can have a meaningful life with an average degree.
Go work and safe for five years very hard...two jobs. A painter earns 50 euro. Buy a house in Friesland, Drenthe of Groningen (why not...the Lelylijn is coming..). Maybe a friend of family member who will borrow you some money? Don't give up. Look for a nice girl friend who has the same ideals ( two - three income). You can make it!
@@eelkjebeuckens7444 I'm already doing a "fulltime" job and some additional sidekicks for about 10 hours a week for about 3 years now and have had my own business before that (government made me stop that because covid). Just the concept of a "fulltime job" that's not actually a fulltime job is just ridiculous. We really should ban those fake "fulltime" jobs.
@@pilsudskygm3377 yeah, like Slovenia, Czechia, Poland... The thing is that the richest country in the east is significantly poorer than the poorest country in the so-called west.
Its going to get worse as the decades go on. When all of us youngsters here are old there will be even less young people to support out pensions. From our youth and into our twilight years we will be screwed no matter what. Our system is failing.
We will adapt. Western nations make two luxury mistakes: they send everyone into pension at the same age regardless of their capacity to work and it is somehow seen as a given that elderly people receive curative healthcare to the same standards as young, productive people. These things will change with our ability to pay for them. I just hope that European politicians will find the courage to actively moderate the process instead of letting it all fail silently as it is done in the US.
The two main problems of the housing crisis are: 1) the amount of people that live alone due to individualism ( > not enough houses for al those people (divorces...). 2) people can't save enough money anymore (there parents didn't learn them how to live frugal). It's these days spending money on holidays, cars, parties, drugs, etc...).
@@eelkjebeuckens7444 I really agree on the frugal bit. It's gonna have to happen eventually but it's in the interest of no one. I hear some people go into credit card debt to fund vaccinations. I've never hear of anyone doing that personally but there are articles about it. Companies and governments do not want people to cut back either for obvious reasons. It's gonna come crashing down eventually. I have met some people who just can't seem to grasp how dumb it is to go into such crazy debt to fund their nonsense. Not as much as a vacation but still. And I know people whose lives are pretty bad because they have nothing amd can't afford nothing. They are just surviving. It's really hard to tell people their lives are going to get worse and the better future they were promised as kids was a lie. The Golden Age has been over for years. Every society goes through it's growth periods before collapse. People don't really seem to have a understanding of history.
We will adapt. Ai and robots are already taking people's job. I'm child free and plan to continue to be. I'm not going to bring children into this monstrous poisoned world just to pay taxes.
I think the solution will be the fact that families with more children will be better off since they don’t live in poverty like the childless will once state pensions can’t be increased. I’m convinced that once the majority of old people died due to health complications of old age, the ones which have many children will leave their families in a better spot.
With my first year university class we had a discussion about the "unfairness" of how the US economy was since it was so geared to older people. I asked the class of 18yo's how many of them were registered to vote. Four were. I then asked them why, if I were a politician, would care about what they thought or wanted because they don't vote, but my generation (Boomer) did. So I would keep the Boomers happy because they will keep me in office. The university had a program that they would distribute voting registration cards, help the students fill them out, then collect them. I told them that any student who registered, I would give them a 100 on the next test. Less than half filled out the card. Then I told those who had registered that if they voted in the upcoming election, I didn't care for whom, I would give them another 100. Less than 10% of the registered voted. So, bunnies, if you don't vote, the politicians won't listen to you. That simple.
I really don't get all those restrictions on voting you guys have over there. Here (in the Netherlands) it's made as simple as possible to vote: you get a personalised pass that allows you to vote via mail (including explanation of the proces) and with that pass and a form of identification you enter the polling station on election day to vote. If you didn't get the letter with your pass (should be in at least 2 weeks before the elections), you can get a new one from your city hall. If you want to vote via mail or let someone else vote for you, you basically have to fill in a digital form. It's simple, the barrier to entry is very low, but because the voting pass and identification are very hard to forge and checked thoroughly, voter fraud stays as an absolute non-issue.
" how many of them were registered to vote. " that's the actual problem. The fact that you can't see it as a teacher is so sad. I'm in Canada, I don't register shit. I walk in on election day (in any part of the country and can still vote in my local election) and show my ID and go vote. Or if I forgot my ID, they look through a list to verify me. You guys purposely add friction and barriers to voting, that's how republicans have won for so long, having tests and "verifications". You make it harder for busy people to vote, for young people to vote, for poor people to vote. So instead of blaming your students, work with them on how to make it easier
@@mikeslikemikes So, registering to vote, even with the university's help, is too big a problem? Then continue to be left out. That's our system, it was the same when I was 18 and I registered and voted. Everyone I knew registered and voted. According to Canadian Govt. stats "The data shows that participation of voters aged 18 to 24 decreased by 3.2 percentage points to 53.9% in 2019 after seeing the largest increase for that age group in the 2015 general election (57.1%) since Elections Canada began reporting demographic data in 2004." Over 60 in the mid-70%. So your generation does register shit because to politicians you don't register.
@@stischer47Then u vote and have the most votes ever for this party and then they get excluded bc they are too radical for some. Gotta love democracy🤭
Netherlands isn't the best country at all for young people. Try get a house. There isn't one unless you have 100.000s of euros at your disposal, or you are OK living far away from everything in a small shed. As a native you also can't enjoy 30% income free tax which expats can enjoy up to 5 years. Apart from high taxes and many ways to prevent you from seriously accumulating wealth, the government is more than happy to sponsor refugees with houses, food, money and more while the native-born can just hop couches among friends as theyre pushed back in the queue as the wait for a social house. The NL government also decided to close down subsidies and support for retirement houses. Result? 700.000+ single-home of 70+ years old staying at their big house that cost them a few 100 euro a month, as the alternative is 1500 euro expensive apartment. All the newly invented house market rules have only further driven up the price, while reducing the number of houses built. My advice to any young Dutch person: get out. Go somewhere you can be happy and/or actually appreciated, instead of being used as a cash-cow. It is total insanity how everywhere the future of young people is stolen. If not inflation while stagnant wages, then by pensions.
Thank you for saying this. I feel like a lot of people are afraid to point out that the Netherlands seems to care more for outsiders than their own youth unfortunately. I’m finishing my HBO education soon, but highly doubt I’ll be able to afford a house in the near future..
They taught us to hate each other based on race, then class then country . People are realising now that it has always been rich vs poor. The same problems in Africa, Europe, Asia etc. we followed along with American capitalism and it cannibalised the world
Im living in NL for 7 years now, love it here, speak the language etc. but it's exactly as you say. Feel like I hit a roadblock in my life. With two average incomes we don't really see any opportunity of owning a decent house here and building a future. We are planning to leave the EU at all. Sadly.
The pension systems in Sweden and Denmark are both great for massively keeping public spending and the national debt down which is increasingly becoming a bigger problem with aging populations (both countries have the lowest public debt to GDP ratio in Western Europe and amongst the most stabile economies in the world according to credit scores - in big part due to the pension system) While their pension systems also has the benefits of decreasing pensioner poverty (even if it means more pensioners aren’t super wealthy). Sweden and Denmark alongside Switzerland have the lowest percentage of pensioners living below the poverty line in all of Europe.
The problem is that if young ppl not paying, the gov will just borrow more debt. And in return, eventually, be paid by the same young ppl who refuse to pay the boomer tax. Hence, don't rely on China for your manufacture, because a deficit means willingly giving up your tax and your GDP to another country, and China could charge whatever it wants when you are no longer industrialized. Raising the tax on all Chinese goods by 50% to protect industrialized Europe seems reasonable.
A bit shortsighted to say any pension system is great if fertility rates are well below replacement and immigration is limited as in Denmark, Switzerland etc
Here in Spain our current government is playing a very dangerous game with pensions. Every time they want the indirect support of the main oposition party (through absenting from the vote) for a parlamentary vote, they bundle what they want (apoint x person, give subsudy to z...) with a pension increase daring the oposition to vote against pensioners. So over the last years, they have gained several straightforward increases, that the pensions must at the very least increase each year at the same rate as inflation... . Right now, the government is flaunting the very good employment of 21 million people, but right now, pensioners and other state supported people are ~12 million (this are not state employees). In the long term, with demographics trends, this situation will become harder to maintain.
Sam as Italy… the situation has to get much much worse before it can get better. And by worse I mean more old people will live in poverty so life expectancy drops making space at the top of the pyramid.
As an former insurance and retirement simulations programmer from Sweden, unfortunately our currently system may be quite sustainable on paper but unfortunately that's not the whole story. Sweden currently has two pension systems in place, one which is based on promises made to the population born 1979 and earlier and one for people born 1980 and later. The older system is very simplified a system that bases your retirement on your final salary before you leave work, with guarantees from the government. This is referred to in Sweden as a "förmånsbestämd pension" and means that the boomer tax which you describe in the video will still be very high for Sweden, but young people will not be able to enjoy the same generous pensions.
@@DominusPastorMeus Not really and even if that's the case it's mostly from Non European Immigrants and Refugees sponging off the welfare system.. how perfect must it be for non swedes to get paid to reproduce and replace the native population at their expense.. over 60% of foreigners in Sweden is unemployed..
Despite the better demographic situation here in the US, the problem with rising elder care is worse in other ways. Americans are less healthy and have more expensive health care. The effect on younger people is less direct and more difficult to quantify than just tax burden. Younger people are often forced to take time off work to take care of aging or sick relatives, and also have to take on more costly housing to house older people who are not able to financially able to house themselves. This is all in addition to directly paying the cost of healthcare for relatives.
Except in the US people are responsible for themselves and young people don't pay for the healthcare of fat boomers. Young people can choose to help them but they are not forced to.
@abdiganiaden The US is mentioned. He specifically talks about how the US has better demographics than Europe. I'm also not sure why you think I'm bashing the US. Health and Healthcare are systemic issues that need to be resolved, not some cheap jab.
@@stanton7847 the US is fine, we don’t want to import Euro system where they use the young like piggy bank for older gen I pay 2% of my paycheck for healthcare and I can make doctors appointment the very next day, why would I change that to lose nearly half of my pay for low quality healthcare with insane waiting times like in Europe l. No thanks. We don’t want state to be our nanny, it’s not in our character to be ok with that. Give me my money and let me be responsible for it like an adult
@@stanton7847 the US is fine, I don’t want to pay for others bad diets Universal healthcare means if gov figures out it can save billions by banning sugar it will, we don’t want nanny like state Individualism over collective nonsense
Can't we just stop pretending like we care about elderly as a whole? I've worked in a nursing home - the alienation and lack of opportunity there for the elderly is insanity. Pension system needs to be phased out. That will even solve the fertility crisis. Because guess what - the children you raised are supposed to care for you while you help raise their grandchildren. Generational living needs a comeback. All this atomisation is unsustainable. The future belongs to those who show up.
I really don't mind the idea of a pension but you just might be right. Doesn't matter though, people will cling to their system, they'll cling to their freedoms (like the freedom to not have a child or get married) even as society crumbles. I say let it all crumble and the clingers with it and leave society to be rebuilt by the people with stable values.
What should be noted is that in the Netherlands, people pay more than 2% of GDP on mandatory health insurance, which costs the same for young people as for old people. So there's money transfer through insurance, but it's not government spending so it doesn't show up in these graphs.
Except it's tied to income and most young people make so little they get money from the government to pay for the health insurance. It's the 30-50 year olds that carry the system tax wise.
The same is happening in the United States. Boomers are the largest generation in the country at 79 million. They are now retiring in large numbers being eligible for the American pension equivalent called Social Security (SS) and subsidized medical care called Medicare. When SS was created every working person would contribute out of their paycheck or weekly/biweekly/monthly wages. These wage taxes (Social Security plus Medicare) became known as FICA deductions. It would more or less be a pay as you go system, with some expectation of separate private savings. Over the years however the Social Security fund was raided to pay for budgets or other items. And with inflation and smaller generations in between, this meant that for the SS fund to stay current, the U.S. government had to borrow money AND use funds of current *younger working* people paying FICA taxes out of their wages to pay for current retirees. As a result Social Security and Medicare are now the largest government annual budget expenditures along with military spending. Those 3 account for almost 80% of government spending--and raising the national debt for future younger taxpayers. The other problem with this system is that there are no asset or wealth maximums to receive Social Security payments. Only wage caps where someone doesn't have to contribute initially if you are a high earner. So in practice there are low wage part time workers getting FICA taxes taken out of their wages to subsidize the retirement of mostly better off Boomers who also happen to own the most residential real estate, stocks, and other forms of wealth. In states like California, where the median home is worth nearly $1 million, these retirees are essentially upper middle class. Those with more assets are essentially wealthy. And their monthly Social Security pension paycheck is funded by current workers earning between $13,850 and $160,200 annually in 2023. Keep in mind 90% of American workers make less than $80,000--far less than $160,200. And although $14,000 for individuals is considered poverty wages, in higher cost of living states in practicality poverty wages are closer to $40,000 for an individual. Like I said, a low wage part time worker with no assets is getting taxed with FICA out of their paychecks--to fund Social Security, essentially transferring money from Millennials and GenZ to Boomers. Its somewhat akin to a pyramid scheme where the older populations are being funded by the lower wage younger generations. It would be a wonky but still ok system if all generations were about equal in size but they are not. The next generation, GenX has almost 20 million less individuals. It rises again with Millennials at 71 million (Millennials are largely the children of Boomers). But then falls again with GenZ at around 60 million. And people have been living longer. The problem remains for younger generations where the birth rates have been low across the world for varied reasons. This threatens the future solvency of SS and Medicare and there's no guarantees these will be there for today's younger generations currently paying FICA taxes when they retire. One solution to these issues today is to lift the income contributions cap. And another is to put in wealth caps on who can receive SS. With the current system inequality is being worsened and the burden is unevenly distributed. The current solutions being proposed today like raising the retirement age are ineffective bandaids that are not solving the core of the problem.
You can put interests payment for the national debt up alongside those three biggest expenditures. A forecast is even showing that interest payments will soon top military spending in the USA. Basically paying for nothing.
@@beasley1232 Boomers are the largest generation followed by Millennials, then GenZ and GenX. Baby Boomers were the product of the "baby boom" after WWII when returning GIs and others married, settled down, and had kids. Millennials are largely their children. Yo u might be confusing Boomers as a whole with Boomers in the workplace. Up until recently Boomers were the largest generation in the workforce. However as they've retired, that mantle has been taken by Millennials. Millennials are now the largest generation in the workforce. Boomers are still the largest generation though (by a few million).
@beasley1232 Boomers are the largest generation in the U.S. Millennials are the 2nd largest generation. You might be confusing the absolute number of Boomers alive with the number of Boomers in the workforce. Boomers were the largest generation in the workforce until they began retiring post Covid. Now Millennials are the largest generation in the workforce and Boomers the second. Eventually Boomers will begin to shrink as a generation, but we're just entering that period.
Yeah, and that often comes as a result of worse welfare meaning people have less money and ressources on their hands, and therefore less excess time, energy, and money to be able to raise kids. Especially if its to a point where both potential parents have to work their ass off in order to make ends meet, as is the case in Denmark and has become apparent after 20+ years of neoliberal austerity measures to our Social democratic welfare state.
@@drdewott9154 no it's actually the opposite. Before the invention of welfare, people relied on having many children so someone could look after them when they got old. It's feminism and the destruction of national and racial identity along with contraception, loss of religion and women in the workplace that has caused this mess. People have to work their ass off for less now , can't even buy a house with 2 people working anymore. Currency has become worthless compared to what previous generation had. Benefits are not the issue. No one has benefits before and could buy a car house etc on just the man's factory wages.
But if a population grows e.g. Netherlands, we have no houses, are unable to provide energy or water to the houses that do get built, and those houses cost over 10 years of average wage. Also, the roads are full but so are the trains, and we have traffic jams even for cyclists.
@@MissMoontreeIt's not because of growing population, it's rather that we build fewer houses than ever before. Check the graphs of England or Netherlands. Or watch the video "Housing Crisis is the Everything Crisis".
Or we could just finally tax the absurd wealth of the global oligarchs and have both low taxes on the young and decent pensions when people are old. How about that?
@@CB-ob5fr Money dosnt get deleted when its spent my brother? it gets redistrubted. Everyone gets richer, except those that were already rich, get down to a normal amount
family should be considered the foundational unit of the society, not the individual, and the state should support the family. that's the problem. the current paradigm is centered on the individual
It’ll shift, people with more children will be better off. So people see that and will have more kids again. But before that happens it’ll get a lot worse, particularly for the old people without children.
Read "The web of debt" by Ellen Brown, we have an oligarchy of private bankers controlling the whole economy through a huge monetary scam. Our politicians are merely puppets to these and can change nothing.
Too bad the Netherlands are going through a significant housing crisis and Denmark is trying to protect its national culture and not become a magnet for expats.
Dear, the Social Contract is dead since rich people can move money to Tax Havens. The aging population isn't a real problem, because the productivity growth barely compensates the old-young population ratio. If the profit would be shared well the pensions aren't problem at all.
"sharing" is exactly the problem. If people weren't taxed to hell and instead had more disposable income to save or invest, not many would need to rely on the state for pensions to begin with.
im going to join other rich in "tax heavens" aka any country where gov isnt the majority of gdp. Socialists can always create co-ops and keep all the juicy / easy profit they lust for, they just have to work and take risk for it
@@darthcalanil5333You vastly overestimate the financial literacy of the average person. Most would just spend more and still need help when they got old.
@@darthcalanil5333 if rich people and corporations couldn’t move their money to Cayman Islands and other tax havens and instead paid their fair share, probably the common worker would not be taxed to hell and pensions would not be a problem. But every political power seems to be too reluctant in criminalizing tax havens and apply sanctions worldwide against countries who benefit from it and prosecute people who use it.
No welfare, social or any other system in the Netherlands can fix the problems the housing crisis causes. The young are severely outpriced in the housing market. In a way older generations can´t even fathom. Our offer for a house was accepted this week. Our mortgage will be almost 4 times higher than my parent's whilst their house is worth double of ours now. That's almost an 8x difference in monthly costs compared to value. Absolutely ridiculous. We have to live pretty frugal to afford a house and even then we're lucky. Just because we were born 10 years too late. I truly worry about the next generations.
Young people don't have kids, because they can't afford shit. If you don't have security of a roof over your head, you would not risk the kid.. that's the real reason !
I'm a Spaniard, 19 years old, next september I will begin my second year of university, if there's any advise I can give young people like me is, get either a STEM or a HEAL degree and run away as fast as you can, that's my plan, I just don't see any other options
How the hell is Denmark considered to be a good place to not be exploited as young?? We literally have the highest taxes in the OECD, we are probably one of the worst places you can be born in the west if you have ambition in your life, besides living on government checks and riding bicycles. From my POV Switzerland or USA (even though its not in Europe) is way better for ambitious young people.
If you don't own anything in value like real estate and you are from relatively poor countries it makes sense to move to Denmark. For example a worker in my city Athens now gets around 800-900eur and needs to pay 300euros for a studio apartment. Electricity, internet, groceries, gas and clothing are the same more or less as in Denmark. Services and restaurants are much cheaper but no money left for these expenses with that kind of salaries. ...as long as you accumulate wealth, there is a point that it's better to live in a poorer country but more tax friendly rather than Denmark.
Without the disenfranchisement of pensioners (and other net takers) in the longer term elections in Europe will be won by parties of pensioners which made problem even worse.
In regards to Denmark, It would be more accurate to say the pension system has partially been decoupled from the state than privatised. Some retirement funds are in whole or in part run not-for-profit, union owned, employer-worker funded, or cooperatively owned by savers. Non-state non-private organisations have the advantage of serving the public and being shielded from political whims or capital extraction from private owners The same goes for a few banks, insurance organisations, mortgage lenders, electricity producers, water systems, supplemental unemployment and health insurance, parental leave, vacation, and non-profit housing.
If you want people to work and be creative creating added value, you need to stop taxing work and start taxing consumption. Like only tax consumption but make work tax free.
Aging is an inevitability. And old age is a privilege. When we are young, we drain resources. As adults, we contribute to society. As our days get shorter in our old age, we once again rely on others. I have grandparents and parents who are older and I have family members who are about to enter the workforce. Everyone has things to worry about, according to their own situation and perspective. Let us approach this issue with compassion and understanding and fairness.
no. The boomers should be taxed like no tomorrow. I'm a young italian and this is what has been done to my generation just to pay their f....g pensions
Speaking of compassion, maybe we can start with getting Boomers to allow new housing construction so young people can actually afford a home? Or getting Boomers to vote for a tax cut on the young, funded by pension reductions, where they only take 2 cruises a year instead of 3? Why is your idea of compassion: “young people have to be squeezed to allow old people to live in luxury”?
In what country can you not work at 14? Isn't it pretty common everywhere for teenagers to have a summer job or some weekend job to save up pocket money?
As a young professional from the Netherlands, I find this video very short-sighted. Many young people, even those with well-paid jobs, live paycheck to paycheck and can barely save. This is due to the high cost of living, including rising rental prices, energy costs, and daily expenses. Additionally, salaries often lag behind these rising costs, and the high tax rates on salaries in the Netherlands exacerbate the issue. To illustrate, consider a young professional with a gross monthly salary of €3500. After taxes, their net take-home pay is €2843. Monthly expenses might include: Rent: €1500 Health insurance: €150 Energy costs: €200 Public transport: €100 Groceries: €350 Internet: €50 Phone subscription: €50 Insurance (household, liability): €30 Gym membership: €30 Clothing and shoes: €50 Entertainment and social activities: €100 Subscriptions (streaming services, magazines): €20 Miscellaneous/Unexpected expenses: €100 These expenses total €2730, leaving a surplus of only €113 per month. This example shows that even with a relatively high salary, it can be challenging for many young professionals to save due to the high cost of living. Keep in mind, this scenario is for someone living alone and only caring for themselves.
interesting to see Slovakia at the bottom part of tax burden graph, even though we pay effective 50% tax rate from total gross salary (and that does not change in any income bracket) only gets slightly higher above 50k/year.
I dont like how the elderly here are almost framed as the enemy. The enemy is the pension system, which is faulty. The focus on the video should be that... shm
But they are. I grew up in the Netherlands, and was taught that we live in a coherent and collective country with each other. It was a major shock to find out that boomers were all along actively promoting policies that would cause large parts of my generation to be unable to find an independent living space. It's nothing less than betrayal.
Young people need support so that they can have an apartment, start a family and have children. Young people who will not have a flat, family or children will only worsen their future situation. That's why we're already talking about immigration - which should be wise (like in Australia).
Bothers me that you didn't define/clarify what are "young people" according to you. Teenagers? University students? Young adults? Working adults? 18-24? 18-34? 25-34? Even tho you had that graph on your wall the whole video.
Hi, In the case of this video, 'young people' refers to workers as opposed to retirees, but since young people (18-34) are those with the most working years ahead of them, this concerns them more than a say 50 year old who 'only' has 15-20 years of work left to do. Cheers, Hugo
Def don't be between 20 and 30 in the Netherlands. You'd have a student loan debt on top of unaffordable housing. Be 35 instead, you'd have a nice discount and only took out student loans for buying a house which was about half the price or less than now. Also, the minimumwage for 18 yo there is half the adult minimumwage.
@@MissMoontree The way the original outstanding debt for student loans is factored into mortgage calculations means at 35/40 you might own something smaller, but can't finance moving unless you managed to remain debt free (aka have rich parents + free housing) AND get a decent degree. It's 'find a rich boyfriend' or be stuck.
@@MissMoontree you guys have laws for teenage labor exploitation? Holy crap, is this really the west we wanted to be part of when we joined the EU in 2004?
my grandparents could buy a large house in the 70's for about 2 years salary, now the same house would cost me 13-15 years income. The boomers are sitting on most of the housing market. its insane
All this doesn't make Dutch taxes low. In most cases, you only pay for your pension in a private fund. You also pay for your compulsory private health insurance. In the end, you pay as much in taxes as you would in any other European country that spends less on its elderly.
So far, the population growth took care of everything. This is a pyramid system that can't continue though, as we live on a finite planet. The world's population is shrinking, and people are getting older. Moving to a country "for young people" won't solve anything. What we need is new thoughts on living with a changed reality.
You can't really ease the burden on the younger genereations by cutting pensions and healthcare costs though. If you do that - the youth will be kinda forced to support their elderly family members directly. You also can't have boomers work till they are dead as it will negatively affect the chances of the younger gens in the labor market and hinder productivity increases. Some other approach is needed here. Like maybe pushing for more social equality and actually taxing the rich.
Not really, in south korea many seniors live in poverty or even on the streets despite having successful children. You shouldnt be entitled to certain standard of living, pensions should cover just the bare minimum. It has been shown by japan that postponing the retirement of experienced workers can be beneficial for the economy, those older workers are still more productive than most young workers.
@@Mastercane98 can you imagine letting one of your parents live in the streets? How do you feel about people who would do that? Like 95% of young people will help their parents if those can't get by with their pensions. In most countries children are even legally obliged to do so. The second argument is very counter-intuitive, you would have to provide some data to support it. Elderly workforce really bring very little to the table, especially due to their unfamiliarity with technical innovations. All they really do is take good jobs and managerial positions away from the younger gens. Everyone who has ever had a boomer boss knows that. Moreover, Japan isn'tcreally a great example for combating ageing population. The country is in a pretty deep crisis and the youth there are in a very bad place, unfortunately. Not to mention South Korea with their staggeing 0,66 birth rate...
Ah yes, the magic spell: 'tax the rich'. As you state yourself, it isn't that simple if you think one step ahead. We really do need a new approach to taxes though.
I am 61 living in the Netherlands. I will have to work until probably 68. I refuse to do that. The generation before me was laid off with 80% net pay at 57. I will not work 11 years more than my boss did. I just won't. Whatever the financial consequences.
That’s why the voting age should be lowered to 16. And personally, I think old people votes should be weighted. For instance, after retirement, you only can vote twice of three elections, or something like that. Until the population pyramid is normal again. I’m 71.
Adding the "I'm 71" part to the end made your post a lot more sincere. As someone with an interest in history, I think this is a cultural issue. If the elderly have decided that they are more important than the young, any changes by the government will be near-impossible, see France. Countries where the elderly aren't trying to be a pain in the ass would be able to pass such vote-limiting legislation, but they are also the countries where such laws would be the least needed. I think the old will continue weighing down their children and grandchildren until the recently seen trend of political polarization gets out of hand, at which point we will either go down an extremely scary extremist route, wherein the elderly will be "dealt with" OR someone moderate will come around and convince the elderly to chill out. A charismatic elderly politician who can show a better example to the old is what would be needed, as I doubt the majority of boomers would listen to anyone else. (if course you want less pensions NOW, wait until you're older!) Overall, I hope my generation will be willing to plant the proverbial trees when we get older. I'm 31 now.
Here is more simple suggestion: every kid below 18 would give one of their parents one more vote. This way all children, even just born, would be represented in democracy via their parents.
Nah, let voting rights be dependent on tax contributions. The people that pays the most in taxes gets more votes. One universial vote per citizen, and then one extra vote for every, say €5,000, paid in income and capital gains taxes. That way the people that contributes the most gets to decide policies.
Denmark is a great country to be a foreigner in as long as you're not from Eastern Europe or the Balkans. There is a facade of acceptance, but the majority is quite xenophobic. I don't want to point the finger or anything, but that has been my experience living in Denmark, and seeing how a lot of foreigners abuse the system, I understand why they are this way.
Standard across Europe, the only 2 countries I know of being ok with Eastern Europeans (Polish in my case) are Irish and Dutch, had only good reactions with them. I am currently living in Ireland :)
@@KoRbA2310 to be fair, if Danes do get to know you and you're a hard working and honest guy, they LOVE you, but they always seem to assume the worst. It is quite hard to get a decent job without recommandations from past coworkers in other companies for example, but if you have someone to vouch for you they generally treat you well.
Croatia here Young people under 30 enjoy tax deductions on health care and reduced income tax. I believe most of the EU countries have such measures Boomers built Europe as we know it, an area of the world with a good work-life balance and a wast social welfare state. Let's not be ungrateful and get to work to leave a better world behind us as well
Nobody says that we don't want to work. But if a pension is the only thing boomers think about, then they are just blind voters misused by populist parties. Such as in my state, Slovakia.
Always the shitty "moral" argument. Oh they built everything! The world started with boomers, before there was nothing! And NO, of course when a country, or the west, almost entirely is disproportionately benefitting a generation over others, we have to discuss is. In Spain a cultural "check" of 400€ for all who are 18 and inter city train free until 30, guess the median age of emancipation? 31 first child? Home owners under 40? From 70 to 30%. Stop the nonsense
A lot of your video is pretty good, but I have a couple criticisms: 1. The "young people are an oppressed minority" claim undermines everything else you said. It's not just disingenuous cringe, you'll also quickly age out of it. If you want to see real oppression, go live in an actual socialist state for a while. 2. You make good arguments for increasing the retirement age, though you miss on ability to work; many are forced to retire early because physical/mental inability to work. 3. What's do you consider a good transfer amount? Is it "enough to live in your car" (as in some places in the US) or "who cares what they contributed, let the old die in the street?" 4. Time marches forward. Blink, and you'll be one of the elderly "oppressors." What are you doing so you don't become the same burden when you're old and infirm? 5. I see the argument "young adults don't have kids because they can't afford them" all the time, but I don't buy it. While there ARE a lot of people struggling because of lack of money, there are also a lot of people struggling because they don't recognize what a luxury is. Liquid body soap? Luxury. A/C? Luxury. New car? Luxury. Living on your own (no roommates)? Luxury. I think the problem is threefold. First, everyone compares themselves, at their current stage of life (young/middle age adult) to what Boomers managed to accumulate by the late stage of their life through the most economically affluent period of human history. We're not living in those times, and we haven't had the same number of decades to accumulate wealth. No one is comparing themselves to earlier generations, who lived with their families in one bedroom huts with an outhouse, who grew a garden in the vacant lot next door so they could feed their family through the Great Depression or the Great War (WWI), or who moved their families away from (actual) oppression and persecution to some far-distant land and different culture so they could have a future. Second, we're all entitled to these luxuries because most of us can't remember not having them. We buy a breakfast sandwich instead of eating oatmeal at home, buy a pre-cooked chicken from the store on our way home instead of boiling beans from a bag at home, have 5+ subscriptions for phone, internet, streaming, gaming, pick-your-thing(s) instead of sunset walks and board games. We spend money in all kinds of ways we think is "normal" that previous generations throughout 10,000 years of human civilization didn't even have available. Finally, as mentioned before, people are struggling to different amounts for different reasons. This comparison only to boomers and unrecognized entitlement happens in an uneven economic situation. Some people ARE eating beans from bags, using bar soap bought in bulk, and have no summer A/C or winter heat. Others literally cry about how hard life is on 200k annual income on an iPhone TikTok shot from inside their pristine new $60k car/truck. The disparity between people actually struggling, and people who think they are struggling is distributed in a way never possible in earlier generations before social media, confusing the overly-simplified "narratives" around it. Where's the nuance? Your analysis is a good start. I recommend staying away from resentment, it's a poison to your life, happiness, sanity, and credibility.
As a young dane I would say Denmark is amazing to live in. Yes there's taxes, but you get a lot of benefits when you're young. Every year the state gives me 1000$ because I'm currently studying. That covers rent, food, insurance etc. I work 8 hours a week beside school, so 1 or 2 shifts. This money goes directly into savings or fun money. I have 0 debt and live in a 2 bedroom apartment with my boyfriend minutes away from inner city. Flights are also cheap in europe, so I can easily book a spontaneous 1 day trip or a weekend away in italy or france. The city is also filled with opportunities for young people like myself. So yeah, Denmark is an amazing place for being young.
Nothing is more insane than a young person describing themselves being robbed as "welfare transfers", "pension payments", or "health expenditures". Robbery is robbery, even when the villains pretend to be helping their collective selves in a nice community manner using helpful goons. The pain pushed into the lives of young people is VERY real. Why pretend this is something other than a blatant crime in progress?
@Armin_Akoyim This is why the only sensible stance is to declare as an individual that everyone who steals is a criminal. If you allow someone who steals to set the stage and make the rules, their incentives are already perverted. The government spends everything they steal immediately, either to buy votes for the next election, or to incentivize future donors to fill their coffers. Saving has no meaning when you aren't personally accountable for fulfilling the promises made. Only the individual has the proper incentives to plan for the long term, and we should never have even begun to consider out-sourcing it for this simple reason. A thief is not our servant, but most of us can't seem to accept this as the truth.
@Armin_AkoyimOh the guilty party here are governments, who votes these governments the past 30 years in UK, DE, IT FR ES etc? And NO, is not a choice to decide who will suffer, we could build 10× homes, rationalize pensions systems etc. remember the 30 glorious years? Now is impossible because productivity and lower fertility etc. but we could do much better
In Sweden the pension system have what is known as "The Brake". The automatic annual adjustment of pensions is directly tied to the performance of the economy. If the balance between incoming and outgoing money in the state guaranteed part of the pensionssystem goes down for some reason, pensions are lowered until balance is achieved.
The elderly already paid for their aid through taxes during their working years, many starting their career as 13 year olds and therefore having contributed to society for 60 years whereas young people usually only contribute for about 40 years - and starts in debt because of taxpayer funded education that the boomers did not have access to. So this is basically just ageism.
No. The way in which it is suppposed to work is that the elderly also acumulated wealth and have less expenses so they have a pension that is less than what they woyld earn if they worked but allows them to keep their level of life. When the average pension is higher than the average salary you have an issue, especially because the future pensions will be calculated off of salaries. If you add to that how the main expense of most people is housing and the elderly own their houses...
The problem is not being old! More immigrants more low wages! The companies must pay more for the society! The problem is the greed from a minority of elites! Even the coronna vírus killed the poor old people and is not the solution!
don't know about the rest of EU but in italy they should cut the damn pensions of people who have earned insane amounts of money throughout their lives. a chemical engineer, who by the time of retirement has hundreds of thousands if not millions in savings, can't have a pension of 5000 - 10000 euros each month for another 30 - 40 years since people live long these days and there are people like ex bankers and such who have pensions up to 50000 euros per month. between rich and poor, somethings never change but they sure must at some point. the worst part is that we're all collectively throwing any sort of morality and values out the window more and more these days.
Very nice video, but I don't think that you can say that pushing pension age is that young people friendly in the end. There are countries like France and Spain where companies could profit enormously from younger, more educated workers, if old people retired and kick started a hiring process in many companies. Having people wait longer for retirement, just clears no space for young people come in and churn in the economy, they are basically just sitting on the benches, not doing much, look at the NEETs in France or Spain. Also in countries where firing is difficult, many companies keep older workers just because of the expense of firing them close to retirement, and they give them busy work, not great for productivity either. Another thing that might be interesting to see is what would the gap of funding be if pay would have kept up with productivity growth more closely. The pension systems were devised up in an era where there was less inequality in compensations and, dare I say, less tax optimization🤔.
In Sweden the pension system have what is known as "The Brake". The automatic annual adjustment of pensions is directly tied to the performance of the economy. If the balance between incoming and outgoing money in the state guaranteed part of the pensionssystem goes down for some reason, pensions are lowered until balance is achieved.
I’m sorry to say that I didn’t find the presentation easy to follow. You don’t really explain the graphs at all. By the moment I start comprehending them, they’re already gone. And no, I’m not gonna pause it
Social security/ pensions should just cover the bare minimum. In the west, people believe that they are entitled to a certain standard of living just because of the country they reside in, which shouldnt be the case. It is completely unreasonable to burden an entire generation with high debt and oppressive taxes to give those who have had an entire lifetime to accumulate wealth a substantial pension.
@@Mastercane98 I will not be here to hear you make these points from the opposite side of the barricade when it will be your turn to collect on the taxes you paid all your life. do you really think that 1,000€ per month, after paying for 42 years into it, is a “substantial “ pension? considering how long people live, it amounts to 200,000€ total, paid in 20 years, if we’re lucky to live that long.
@@riccardob7774 You should be saving for you retirement, it is short-sighted to rely on daddy government to support you when you have no idea what the political situation will be like in 50 years time.
@@baileyharrison1030 How shortsighted of an opinion. How many times I have to repeat that people PAYS into Social Security. PAYS, with real money from real jobs. All their life. It IS a retirement plan. Managed by the government but with money WE paid into it. The government doesn’t give us money if we didn’t pay into it. Now….there are entitlements, money given by the government to people who didn’t pay for it. They’re called Safety Nets. But this is not the case for Social Security. If people keep voting for politicians promising to reduce taxes, you end up like this. With programs conceptually safe and sound like Social Security gutted and YOUR money stolen to go cover the missing income taxes from the rich.
This is becoming the case in pretty much all modern countries because of the boom in population growth decades ago and now we have a bit of an imbalance from young and old, throw in that people are living longer and it's easy to see how that can put a strain on the younger generation of people when it comes to taxes and supporting public services. The irony is, it's probably not as big of a problem as we might like to think, we are quickly entering into a A.I. robotic world over the coming decades, if this ends up taking over the majority of labour and jobs, we could end up in a situation that having more of a younger generation could become more of a burden if we can't find jobs for them. Either way, one thing I've learned through life, anything that gets highlighted as a problem and grows as a problem with time, ends up not really being that big of a problem over the long run because of policy changes over time to counter the problem, so being aware it's a problem and having time to fix it is likely enough for it to not really be a problem when we think it will be a problem, and I suspect that A.I. and robotics will be the solution as that could solve all these issues apart from one, finding work for the younger generation of people, hence why the issue could flip on it's head over the coming decades and it ends up being a much bigger problem for countries with a much bigger younger generation of people, especially if they can't find them work because A.I. and robotics is taking over the jobs. As for the older generation of people, A.I. and robotics will likely be able to deal with all that, after all, governments might need far less taxes if A.I. and robotics can do a lot of the jobs we do in the public sector, but taxes are unlikely to go down much, if at all, it just means a lot more can be done with that money then we can today, which will probably end up with a human basic income as it's unlikely we'll be able to find enough work for everyone in a A.I. robotic world, and even any new jobs we do create, A.I. will likely be able to replace us in that. But honestly, I'm far more worried about the job losses that A.I. and robotics is going to do over the coming decades than the issues of the young and old generation., the reason I'm more worried about A.I. is because governments are slow to change and a lot will need to change with the impact A.I. will have on the world, I suspect many governments will let things get so bad that it could lead to revolution, whereas some countries, probably European one could fare much better because of the social structure of the society and higher taxes will make it much easier for them to create a human basic income, in other words, they are less likely to let things get really bad before they change, whereas I think the US and many developing countries will let things get really bad before they change, the end result in those countries is that far more wealth will end up in fewer hands and not enough jobs to go around as A.I. and robotics takes over.
This isn't the full picture, for one thing Sweden may be more frugal in paid pension but that's excluding the money saved be the elderly due to universal health care which saves them tons of money (at least if you compare to the US and others with poor health care systems).
Same in the Netherlands, we have mandatory health insurance at fixed rates. In that way, young healthy people also pay for health care costs of the elderly.
@@jow3724 - would I get an exemption then? I am 61 and I have had a total of 2 days in a hospital bed during my lifetime? And since I have no children I really should get a boost on my upcoming pensions since I have not utilised state sponsored benefits like kindergarten, school, and free, higher education. And since I migrated to Sweden at the ripe age of 30, a very productive age, I was not a burden on Swedish tax payers for those first, expensive years. I demand compensation!
Rich pensioners in France ? Check your data, 50% of pensioners in France earn less than the minimum salary, but the other half make the numbers lie. the problem is some few people who don't even need it receive huge pensions while the half of pensioners can barely pay their bills.
Thanks for the video, i've been looking into moving to either the Netherlands or Denmark. I live in Greece and it's 100% clear that there is no future here at all for young people, most of us have university degrees yet work in service jobs so we can give almost all of our salary away to the government.
Don’t move to the Netherlands, the housing crisis is so bad you will end up spending your salary on rent. People are racist and companies will hire you less often if you don’t speak dutch. Source: I lived there
With the new law you better get away even if working 6h/week was already common, for money most popular destination now from highly skilled people from my country is switzerland and benelux, you spend more but savings are also bigger, their standards are higher than southern europe compare to us i would say they have upper class lifestyles. Good luck greek friend.
Denmark isnt that different in that regard sadly, don't get your hopes up. Plus the housing crisis is extremely harsh here as well, you can barely even find any place to live unless you're already rich or willing to live with a partner on a super tight space. Whats worse is that the private pension funds mentioned in the video are partly to blame since they jack up the property prices and rental costs to pay back the profits to peoples pensions.
The bizarre thing about high pensions is they disincentivize the immigration of young people, and not just because it's a high tax bill. If I move to France, work for 10 years, and then leave before I retire - I've just paid a lot into a pension system I won't get anything out of. Compare that to uk/aus/nz, with government-run (and mandated) retirement funds - but if you leave to another country you can take your savings with you. Considering a retirement system like France is so dependant on young people to make it work, you think they'd be wanting to make it attractive to young people. No one at 20 really knows what they want to do in life, why force people to try to predict where they'll grow old.
We are in need of carpenters, brick layers, electricians, welders in Denmark no one can do manual work anymore because everyone wants a doctors degree or just use the system and sit on their asses.
I don't want to sound radical, but without seniors, we would have far less problems. Housing, taxes, work force demand, politics (they especially believe propaganda).
I’m French and I had never seen it that way.. I think elderly people deserve to have pensions because I believe in a social system and that they are a very vulnerable demographic. It’s interesting though that it weighs on younger generations, I’m 19 and I’m studying, I’ve never felt that much anxiety before but I still don’t think it’s that simple.
@@pietoud1991Here in the UK the average pensioners has higher disposable income than the average working family. The average pensioner retires with over £300,000, has a house, and then gets state pension money. At the current state pension that means that a lump sum of £300,000 is needed to fund their state pension. This means that state pensioners are literally millionaires and yet they’ve brainwashed young people like this dude to feel sorry for them. Haha.
In France, the retirement age was low and for many years, nobody dared to increase it. But the burden for the younger generation to pay the pensions for the baby boomers became too big. A couple of years ago increasing the retirement age became inevitable, leading to heavy protests. Even young working people protested, what I thought was strange.
The partially and poorly labeled graph you show from 1:44 to 2:00 is really excellent for innumerates who want vague words to wash over them without understanding what they're looking at.
Get your free website with Odoo today! Link: www.odoo.com/r/l0p
What is the difference between Private Transfers and Capital? Thank you.
Don't worry, when you're old Muhammad and Rashid will pay for your retirement
Nvm they're already on your taxes and state benefits :) but for sure they'll one day be making payments towards you kekekek
no such thing as an anglo saxon country.
klaus schwab
Netherlands is not a good place for young people. We might not have to pay a lot for the elderly BUT we have to pay 400k in euros FOR A NORMAL HOME. The new government is also focused on big farm companies, destroying ecosystems, lowering minimum income because uhhh why not? A 21% tax on books because the country needs to be even dumber I guess. Last thing the biggest party PVV is ruled by a person that makes all the rules and the party and is an open racist. Good country for young people's future...
I overheard boomers talking about going on their second cruise this year and then complain about the state pension being too low, I am becoming the joker
In my country (Spain), the state pays half of the cost of a trip for retired people (imserso), even when they get their double pension on summer, some recive up to 3-4k.
That's way more than the average worker
@@Joan-kr1jo it's insane how they are treated, here in France 13% of GDP go to the state pension 30% of your salary is for them and they treat you like shit for it.
@DokkariLed My friend grandparents could not take his kids for 2 weeks because they were "taking a break after their vacation in Spain"
The generation that betrayed us, and we are expected to support them.
@@Joan-kr1jo The problem is that Spanish average workers aren't paid enough because your whole system is broken. Not only pensions. Working hours. People complaining about "being forced" to work a normal shift of 8 hours instead of the 11-12 you do usually work in these crazy split shifts. Crap salaries because the bargaining power of the workers is minimal. Just coincidentally, here in the Netherlands our salaries are quite OK, we are among the most productive workers AND, our trade unions to function. Just saying dude.
And voting for Vox, etc, won't exactly solve your problems. Rather the other way around. Right wing populists in the rest of Europe have already shown that they promise left wing policies and that everybody will swim in gold, while applying hard-core neoliberal polices as soon as they get a grab on power. It's happening right now here in the Netherlands. They even threw the farmers under the bus, the very ones that they used as a spearhead of their populistic message.
In my view, the only way out for Spain is to somehow survive peak boomer and once this older generation of entrepreneurs dies out, the younger ones may have a chance to normalize your labour market and make you less dependent on tourism.
Well at least the elderly made sure to allow lots and lots of housing to get built and didn't cynically block it so we'd have to desperately outbid each other and make them richer just to get a home!
Here, you dropped this: "/s"
@@Ikbeneengeit ah yes, for spite
Except the housing developments built by the pension funds are always ridiculously expensive to generate profits for the pensioners to the point where most people can't afford to live in them, neither for rent or buying outright. Thats the case in Denmark at least where I'm from. So they contribute to the housing crisis.
Ouch!
Oh wait, they did
As a Spaniard living in the Netherlands, I have to say that the latter would be a really good place for young people if it wasn't for the EXTREME cost of housing that makes any of these pretty charts and statistics go out the window the moment you take a look at the prices and availability.
A country can't be good for young people if housing is unafordable.
Yeah, I was wondering when that would be brought up. It may seem to be cheaper in the Netherlands but there is no place for young Dutch people. All the cheap housing is already given away to migrants and the old people still live in their old houses.
The average housing price that was sold in june 2024 is 468000 euro. 2 years back it was 400.00. With a median income (36000 a 40000 a year)you can get a loan of 180.000 (based on a 40 hour workweek) if you have a partner with a similair income you scrape it to: 360000, now you both need to save up a couple of years and have a 7% cash straight up and you are good to go. Thats how dire the dutch market is. Currently people are over bidding on average of 30.000.
@Brambazai not migrants, but reserved for elderly too often. I'm like "Oh an appartment for only 700 euro a month?" and then the text says "only 55 or older".
And then they dare to complain young women don't have kids. My kids would be homeless.
I was just in Nordwijk, this morning, beautiful city at the coast, easy connections to Den Haag and Amsterdam, houses cost 170k - 400k€ mostly. That's super cheap and affordable. I am so tired of people claiming they have extreme prices. The last time we had 180k in Germany for a house, was 10 years ago. It is not extreme, especially not relative to the amount of money earned after taxes. The Dutch only earn very slightly less than the Germans, but have way lower housing prices.
@@LeegallyBliindLOLWhat are you talking about? Cheapest place in Noordwijk is starting 279k at the moment (46 m2), which is definitely going to be bought over asking. With that 46m2 you can't even raise a family and with current interest rates the mortgage would be somewhere between 1000-1300 a month, for what is basically 2 small rooms.
being young in Europe feels like being in an open air retirement home. Old people everywhere and you have to stay broke in order for the boomers to enjoy their pensions...
Especially the childless retirees should have saved more.
It's unfair to expect other peoples' children to support them.
@@spambot_gpt7 yep and then the childless ones complain why the retirement age rises.... smh
@@spambot_gpt7 it's also unfair than to have them pay for their children's education? being childless often is not a choice and people shouldn't be punished for it... in most European countries, people without children pay more taxes as well.
@@dv2483 , education is a net benefit on the population but a retiree is literally an economic dependent and the more they age, the less they generally contribute.
Not a fair comparison at all.
@@dv2483 BUT children cost A LOT more than you would ever save on taxes, assuming you are working a real job.
By raising children, you are doing a service to society. It's okay to honor that.
Society would be smart to support childcare & education because everyone benefits from a stronger economy later on.
By not having children, you are saving yourself a lot of time & money. That means you have more means to take care of yourself later on.
Why should you be entitled to other peoples' children?
It has been like this for basically all of human history.
This entitlement is a luxury.
Once a portuguese journalist said that southern europe nations could evolve into gerontocracies, where the older generations outvote the younger resulting into increased taxation to preserve pensions and afford the increasing cost of healthcare, forcing young people to work more, resulting in lower fertility, perpetuating the cycle, with ever smaller younger generations.
It's already here. In Portugal the older population votes the socialist party because they increase the pensioners benefits always. Fuck the system.
That is already happening
Governments remedy that with mass immigration.
@@Guitar6ty Which tends to be blocked/voted against by the boomer generation, oh the irony
Too bad that if a conflict were to break out the old people are going to a be screwed.
Well, in the Netherlands we only build big expensive houses for rich boomers. While young people have to pay insane amounts of money for a shitty appartment.
True, the low-cost converted office building im living in, which can house hundreds, is being demolished for luxury apartments...
Or insane amounts for just 1 room in a house you have to share with 8 others..
Thank the VVD, not the boomers....
@@spekenbonen72it's the boomers
@@spekenbonen72 boomers voted vvd
I am indirectly taxed in the Netherlands through rent costs in the Netherlands that basically goes to boomers
That's what I was thinking. The purchasing power has to come from somewhere. If it isn't taxes, it's rents from ownership of property or businesses. You can't escape demographics..
Generation X owns the real-estate here. Young people can buy real estate as well, but it's going to be way more expensive while getting much less m2. The Netherlands had the individualization of society, but it's just waiting for forced collectivilization what the BBB wants or that the younger generations only get house ownership through inheritance.
Wonen is duur.
Als het u niet bevalt.....
Bye bye.
@@fcassmann wonen hoeft niet duur te zijn, dwaasbanaan. Waarom neem je het op voor de engnekken die al het geld opstrijken voor niks doen?
@@fcassmann Dus als je de huur niet kan betalen dan moet je maar op straat leven of oprotten naar een ander land?
Ik zie aan jouw profielfoto al van welke leeftijd je bent, jij bent voor de belastingbetaler straks ook duur wanneer je oud en ziek word. Vertrek jij dan ook maar?
Taxing the young is incredibly shortsighted as you basically stunt our growth and hence being less able to pay high taxes in the future when we are supposed to be well established. Young not forming families is a symptom of this not allowing the young to get access to what they need in order to progress healthy. The older generation should be allowed to work longer in order to pay for their pension and thereby lessen the burden for the young.
Young people should be the priority, always!
I don't know if there is a country that is not allowing to work longer. Retirement is a option. Plus I think people in France have more babies then in the Nordic countries so these things don't go together.
The problem is that if young ppl not paying, the gov will just borrow more debt. And in return, eventually, be paid by the same young ppl who refuse to pay the boomer tax. Hence, don't rely on China for your manufacture, because a deficit means willingly giving up your tax and your GDP to another country, and China could charge whatever it wants when you are no longer industrialized. Raising the tax on all Chinese goods by 50% to protect industrialized Europe seems reasonable.
When Politicians only look at the next election cycle, and companies look at the next quarterly earnings report, the future is completely disregarded in favor of short term gains/results
Old people can give more vote
I'm fascinated how oblivious old people are to this problem. 40 year ago you could buy a house for a 2 yearly salarys, but now you need to work 30+ year to eave afford a house.
Wages have increased since 2000 by around 35% while housing prices have more than double and purchasing power stayed the same.
All thanks to mass immigration which no one voted for.
they;re oblivious to it because it doesnt affect them. They already have a house and everything - they dont need to go looking for another one. Hells they dont even need to get a job most of the time. To those ones its just "you young ones are just lazy, you just dont want to work"
Well, I'm amazed how no one questions that cheap/expensive housing is the other side of the coin in this "boomer tax"; which is essentially class war. This video puts young workers against retired workers when companies are showing record profits even with stagnant economies and there is a massive wealth gap between capital owners and workers.
"purchasing power stayed the same"
ahaha yeah right, prices of utilities +200% food +100% nicotine liquids +300% and it's just last few years after they were printing money during covid and giving it to their buddies.
You need to be millionaire jut to NOT BE HOMELESS.
I think the last time you could buy a house with 2 years' salary in Bohemia was back in the medieval when the black death wiped half the Europe... 40 years ago though, you could get to housing by being in the party and being friends with the right people.
Be young in the Netherlands??
The housing crisis here is incredibly bad. You need over double the modal income to afford the average house. None of my friends can find anything and our lives are stalling or falling apart because of it.
I'd be very interested how these numbers pan out if you include the wealth transfer through real estate. I bet the Netherlands would do a lot, lot worse.
I'm a teacher, my wife is a doctor and we were júst able to get a mortgage for our house. Renting is even more expensive.
Yeah i was so confused watching this video. Great to be young in NL? I was like how? Living in Poland now and I'm at least able to live normally vs what I get paid (relatively speaking comparing it vs living in NL before as Polish diaspora, just want to add that before I get attacked by other Poles)
In Portugal rents are double the modal income for a shitty apartment and we were paying for the old people lifestyle and houses. buying a house is just a kid's dream, houses in germany are cheaper than in Portugal and the modal income is 1100 euros a month (after taxes). I think the video just meant that the Netherlands are better option than other countries...
right now the new government decided to max the taxes on young people(
My sister is 32, has a master of science, her partner is 32 and has a bachelor's in engineering.
They both have jobs in their field and the only thing they could buy is a small shitty house in the literal ghetto of our city surrounded by neighbors on welfare.
Yeah Netherlands is great 😐
The housing market in the Netherlands is absolutely borked. I got lucky by buying an apartment before 2020, but I feel for my fellow countrymen trying to buy any piece of real estate.
It's not stealing anything, it's just stealing from itself. In Romania I'm paying 48% of my salary, for no infrastructure, expensive prices, nothing that can make me say hey yes here are my taxes, it just goes in someone's pocket, and also the IT domain is very taxed here, it's not worth it. So obviously I'm moving in luxembourg where I get 10x my wage here and pay them taxes since they are so kind to me and pay me 10x what I get here in a month. at 26 years old I would have the same wealth as I would do in Romania at 62 years old. I'm not wasting my life for them.
They are litterally rebuilding the same road, since I was in the 5th grade, now I'm 22, and it's still happening
Let's go all to Luxembourg! /s
Damn, i thought Romanians all being thieves was a meme. All governments are thieves, though.
A rare occurrence of another Romanian actually being aware and not just a patriotic lobotomite who would rather die for this shithole of a country. I salute you.
Singapore CPF pension system is Fullproof where government Force you to save money instead of taxing young people
Chile's AFP is better, as it also invests in the stock market, not just government bonds; while the latter works for Singapore as they've elected reasonable politicians since their independence, in any other country you only need a Hollande or Biden to see your savings laid to waste.
Singapore is not really a good model for anything. It's tiny country relying heavily on guest workers, so it basically outsources a lot of the cost for elderly people to other countries.
Aside from that, saving money doesn't solve anything. In the end, the real issue is consumption vs. production. If you have a lot of people consuming without producing, the economy of your country will tilt over. The structure of the pension system only decides in which direction it is going to fall. If you do it like Germany, you get a heavy tax burden. If you go the way of private investment, you get inflation. We often delude ourselves into thinking that money is a sort of container to preserve value. But this is only somewhat true. In the end, there has to be something to buy.
@@Volkbrechtagreed with you, to a certain extent
At this point, no matter how well Singapore system works, as a Singaporean, I won't be going around tell others about it because it has always be counted with "it is a small island" and "Singapore is an exception"
And they aren't wrong either.
To me, if it works in Singapore, it work.
Telling others to follow Singapore doesn't help Singapore in anyway.
Singapore is a small island. We won't have much influence on the world stage. We just have to concentrate on improving our own system in our own way.
Foolproof
@@disalazarg well said
Not only are we paying for previous generations’ pensions, we will not get a pension.
Exactly!
This is why I left Europe: I refuse to pay for exactly the generations that constantly despise us, but expects us to pay for them while we will never ever get anything when we will be old!
@@canardeur8390 I haven't watched the video but can't you just refuse to pay for pension? or they instantly deduct it from your paycheck
@@Sun2Gway
There is no way to escape it; as you say, it is instantly taken from your paycheck, and not only: yearly income tax on top of the monthly income tax deducted from your salary, VAT, tax on gas for those who need to drive to get to work, tax on cigarettes for those who smoke (which I don't), tax on electricity, tax on water and even tax on taxes like in France!
And for entrepreneurs, it is even worse: they take more risks, pay more taxes but get much fewer benefits in return and are less likely to get decent pensions when they retire, if they even can...
@@canardeur8390 Wow, thanks for the info now I hate my country even more :>
How do you know that ? Stock Market had the best boom in there intire history ?
You sound like grandpa complaining about crime, while it going down for more then 40 years now.
Only problem: you have to learn the insane gibberish they call "Danish"
I like Danish I mean is not that horrible and also when I understand Danish I and understand too other 2 languages such as Swedish and Norwegian obviously not the same language but you can get the idea of being similar also, is close to Germany too.
Norwegian is less gibbereshy! Also you can get by pretty well with good english too
You dont as everyone speaks english.. hell spanish just became the third most spoken language in Copenhage.
Danish language is not difficult, but it surely is ugly af. Anyother germanic language is nicer. With the exception of Dutch perhaps. ^^
@@Alex-hj5el Dutch isn’t too hard
If I do everything right as I am told in my life, I will have nothing and be fcked. I owe my country nothing.
100%
Our generation can't afford a family, raise children or own a house. Result, further drop in birth rate which leads to desperate need for foreign skilled workers. This is cultural suicide.
Old people are the cause for this cultural identity shift, while they are also the most vocal about it.
You are right. It’s such a great irony.
It's all planned.
To destroy the European civilization.
And then they scapegoat the very immigrants who are holding their economies back from total collapse.
its your governments and technology, feminism also causes a collapse in birthrates
@@meu22422 it is crazy that this situation has spread all across Europe, democracy has gone bad as it turned into a gerontocraty giving power to a generation that is all but wise. Instead of selling their huge house to young families, they would rent them the small flats where couples can have no children while it should be the other way around, they should move in these flat of better dimensions for their old days, madness ! I think that the main problem is that, this generation does not want to get old. They are madly jalous of the youth.
In France, what is even worse is that their pensions are higher than our salaries... I can't believe we let this happen. They are ruining our countries.
"Japan [...] comes out as the champion of pension moderation"
That's one way of saying the old die alone.
"alone" quite the opposite in most places of Japan, which is why they have such long lifespans. Japanese elderly in Okinawa are very sociable and will spend time together to offset their families' busy lives.
a society without old people can still go on, a society without young people will quickly become extinct
@@postblitz Okinawa are the outliers (also its only a very small island, so basically an isolated village, everywhere else its extreme loneliness)
@@loudnoises8197 You have no idea what you're talking about, got it. Okinawa is a huge island and the practice occurs throughout even large city communities.
@@postblitz Okinawa is barely 0.1% of Japan's population of 125 million people. Also Okinawa has a famously different culture (Ryukyu) to rest of Japan where elderly loneliness is a larger issue.
Just because one community are the outlier, that doesn't mean the entire country is doing well on that regard. Check on recent white papers, its a negative trend in Japan sadly
As a millennial approaching my 40*s with a child, we studied about the demographics in high school some 20 yrs ago so it's unacceptable to say ylwe didn't see this coming
Every political leader has either been kicking the can down the road or fell asleep in the wheel in the last 30 yrs
Here in India, we are paying taxes like that of Finland and getting public services like that in Uganda. 😂
More than Finland. We pay upto 42% income tax, then upto 28% GST/vat, then 28% car tax(can go upto 130%), 22% cess on car, and 12% road tax on car. And don't forget to pay toll.
@@subhrajeetsarkar3949 how about the "other" things like the insane inflation that our government has failed miserably at?
And if we ask them any questions, they either ask us to leave the country, or declare us terrorists or against the whole country?
Unbelievable, how voting for BJP twice only cost me as a civilian heavily.
@@subhrajeetsarkar3949 best deal: pay insane taxes; recieve no sunlight
India doesn’t have the same gdp per capita as Finland, so there would be less revenue
Of course, a lot can come down to government corruption
@abc_cba the reality is that 95% of the population doesn't even work in any type of formal employment, so the government doesn't tax them anyway. They're making subsistence wages that they barely can live on, so taxing the overwhelming majority who are megapoor makes zero sense.
It's bad here in Australia too for young people- with a plan to scrap or heavily reduce the quality of the pension by around 2050 by using mandatory superannuation to effectively replace it (despite many 'younger' pensioners today receiving both super and a pension), the government is screwing over young people by making us pay for a pension scheme we may never receive ourselves; broken social contract.
But young people there have very high wealth investment rate in the form of housing.
@@Ray-ce4sn very few young people can afford a house in Australia, so they cat even get a foot in the door
@@Ray-ce4sn Housing prices are insane. It was somewhat affordable in my hometown where I still live, but in the last 2 years looking at the prices, it honestly feels like houses have gone up by 100k on average. It's still better than most of australia, but I don't want to live here anymore anyway
Dude you cant say the Netherlands is good for young people when we are going bankrupt for a shitty room, the housing crisis is so bad that at 26 years old i've given up on ever owning any property let alone starting a family. This place is a shithole for youngsters and we are leaving the country in flocks for it
I used to be a young person. and I agree totally that there’s too much burden on the young in many countries (maybe even all), and it’s not even just taxes.
And especially young men
Whattt grow a spine. Your grandparents h1d it much worse. And they didn´t complain
Everyone was young once, I think.
The Netherlands is great for young people! I'm 22 years old, have a decent job with almost no student debt and it is absolutely impossible to buy a home. Lucky for me I spend so much in taxes that I might have enough money saved in ten years to be able to afford a one bedroom appartment.
Yup Italy is a country for old people, ruled by old people. Plenty of people who can't make a living with their wages (if they're lucky enough to have) and have to rely on their older relatives' pension.
One of the reasons for the high debt burden is also that in the 70s and 80s, the socialist government bought votes by creating so-called "baby retirees", who worked for 25/30 years and retired with their full wage as retirement check.
@@M-tl4xt , that's why the only politicians that are looked positively in history are either those who were assassinated before they ever could have come to power or those that have started Ponzi schemes that another politician that has to deal with the economic mess it creates a few generations down the line.
We all mediterranean countries have the same disease, politicians and their commitment to worsen everything
Read "The web of debt" by Ellen Brown, we have an oligarchy of private bankers controlling the whole economy through a huge monetary scam. Our politicians are merely puppets to these and can change nothing.
Be young in the Netherlands?!
Again an outsider not knowing the ins and outs here.
Good luck finding a place in the Netherlands without rich mommy and daddy. And that’s for the foreseeable 10-15 years.
The weird part is that the channel is dutch
8:12 The Netherlands is not a Scandinavian country.
Oh btw, because the pensions over here in the Netherlands are so small, they are more affordable, but also result in more boomers using houses as investment asset.
This is one of the reasons why housing prices are very bad for young people who are looking to enter the housing market.
In fact, I'm planning on moving away because of this.
I mean, what's the point of life if you can't even take ownership of your own life by owning some basic aspects like a roof over your head...
Unless you have some fancy high end master degree, there's not really a future prospective to look out for.
I've started looking for a country where you can have a meaningful life with an average degree.
Go work and safe for five years very hard...two jobs. A painter earns 50 euro. Buy a house in Friesland, Drenthe of Groningen (why not...the Lelylijn is coming..). Maybe a friend of family member who will borrow you some money? Don't give up. Look for a nice girl friend who has the same ideals ( two - three income). You can make it!
@@eelkjebeuckens7444 I'm already doing a "fulltime" job and some additional sidekicks for about 10 hours a week for about 3 years now and have had my own business before that (government made me stop that because covid).
Just the concept of a "fulltime job" that's not actually a fulltime job is just ridiculous.
We really should ban those fake "fulltime" jobs.
he didnt mean that netherlands were a scandinavian country. he meant it like: (scandinavian countries, like denmark) + (as well as the netherlands)
Come to Norway ❤
Move to asia, you can live like a king for less then 1000 a month
Young people, come to Estonia, where the majority of pensioners live in poverty!
How's that??
@@bloodspartan300 Low pensions and people have no savings.
Good perhaps that’ll cleanse the population and free up some much needed housing.
I thought Estonia was a rich country (for eastern European standards) and didn't have these kinds of problems
@@pilsudskygm3377 yeah, like Slovenia, Czechia, Poland... The thing is that the richest country in the east is significantly poorer than the poorest country in the so-called west.
Its going to get worse as the decades go on.
When all of us youngsters here are old there will be even less young people to support out pensions.
From our youth and into our twilight years we will be screwed no matter what. Our system is failing.
We will adapt. Western nations make two luxury mistakes: they send everyone into pension at the same age regardless of their capacity to work and it is somehow seen as a given that elderly people receive curative healthcare to the same standards as young, productive people. These things will change with our ability to pay for them. I just hope that European politicians will find the courage to actively moderate the process instead of letting it all fail silently as it is done in the US.
The two main problems of the housing crisis are:
1) the amount of people that live alone due to individualism ( > not enough houses for al those people (divorces...).
2) people can't save enough money anymore (there parents didn't learn them how to live frugal). It's these days spending money on holidays, cars, parties, drugs, etc...).
@@eelkjebeuckens7444 I really agree on the frugal bit.
It's gonna have to happen eventually but it's in the interest of no one. I hear some people go into credit card debt to fund vaccinations. I've never hear of anyone doing that personally but there are articles about it.
Companies and governments do not want people to cut back either for obvious reasons.
It's gonna come crashing down eventually. I have met some people who just can't seem to grasp how dumb it is to go into such crazy debt to fund their nonsense. Not as much as a vacation but still. And I know people whose lives are pretty bad because they have nothing amd can't afford nothing. They are just surviving.
It's really hard to tell people their lives are going to get worse and the better future they were promised as kids was a lie. The Golden Age has been over for years. Every society goes through it's growth periods before collapse. People don't really seem to have a understanding of history.
We will adapt. Ai and robots are already taking people's job. I'm child free and plan to continue to be. I'm not going to bring children into this monstrous poisoned world just to pay taxes.
I think the solution will be the fact that families with more children will be better off since they don’t live in poverty like the childless will once state pensions can’t be increased. I’m convinced that once the majority of old people died due to health complications of old age, the ones which have many children will leave their families in a better spot.
With my first year university class we had a discussion about the "unfairness" of how the US economy was since it was so geared to older people. I asked the class of 18yo's how many of them were registered to vote. Four were. I then asked them why, if I were a politician, would care about what they thought or wanted because they don't vote, but my generation (Boomer) did. So I would keep the Boomers happy because they will keep me in office. The university had a program that they would distribute voting registration cards, help the students fill them out, then collect them. I told them that any student who registered, I would give them a 100 on the next test. Less than half filled out the card. Then I told those who had registered that if they voted in the upcoming election, I didn't care for whom, I would give them another 100. Less than 10% of the registered voted. So, bunnies, if you don't vote, the politicians won't listen to you. That simple.
I really don't get all those restrictions on voting you guys have over there. Here (in the Netherlands) it's made as simple as possible to vote: you get a personalised pass that allows you to vote via mail (including explanation of the proces) and with that pass and a form of identification you enter the polling station on election day to vote. If you didn't get the letter with your pass (should be in at least 2 weeks before the elections), you can get a new one from your city hall. If you want to vote via mail or let someone else vote for you, you basically have to fill in a digital form. It's simple, the barrier to entry is very low, but because the voting pass and identification are very hard to forge and checked thoroughly, voter fraud stays as an absolute non-issue.
" how many of them were registered to vote. " that's the actual problem. The fact that you can't see it as a teacher is so sad. I'm in Canada, I don't register shit. I walk in on election day (in any part of the country and can still vote in my local election) and show my ID and go vote. Or if I forgot my ID, they look through a list to verify me. You guys purposely add friction and barriers to voting, that's how republicans have won for so long, having tests and "verifications". You make it harder for busy people to vote, for young people to vote, for poor people to vote. So instead of blaming your students, work with them on how to make it easier
@@mikeslikemikes So, registering to vote, even with the university's help, is too big a problem? Then continue to be left out. That's our system, it was the same when I was 18 and I registered and voted. Everyone I knew registered and voted. According to Canadian Govt. stats "The data shows that participation of voters aged 18 to 24 decreased by 3.2 percentage points to 53.9% in 2019 after seeing the largest increase for that age group in the 2015 general election (57.1%) since Elections Canada began reporting demographic data in 2004." Over 60 in the mid-70%. So your generation does register shit because to politicians you don't register.
young people are outnumbered by these boomers anyway so your point makes no sense, at all.
@@stischer47Then u vote and have the most votes ever for this party and then they get excluded bc they are too radical for some. Gotta love democracy🤭
Netherlands isn't the best country at all for young people. Try get a house. There isn't one unless you have 100.000s of euros at your disposal, or you are OK living far away from everything in a small shed. As a native you also can't enjoy 30% income free tax which expats can enjoy up to 5 years. Apart from high taxes and many ways to prevent you from seriously accumulating wealth, the government is more than happy to sponsor refugees with houses, food, money and more while the native-born can just hop couches among friends as theyre pushed back in the queue as the wait for a social house.
The NL government also decided to close down subsidies and support for retirement houses. Result? 700.000+ single-home of 70+ years old staying at their big house that cost them a few 100 euro a month, as the alternative is 1500 euro expensive apartment. All the newly invented house market rules have only further driven up the price, while reducing the number of houses built. My advice to any young Dutch person: get out. Go somewhere you can be happy and/or actually appreciated, instead of being used as a cash-cow.
It is total insanity how everywhere the future of young people is stolen. If not inflation while stagnant wages, then by pensions.
Thank you for saying this. I feel like a lot of people are afraid to point out that the Netherlands seems to care more for outsiders than their own youth unfortunately. I’m finishing my HBO education soon, but highly doubt I’ll be able to afford a house in the near future..
Where to go though?
They taught us to hate each other based on race, then class then country . People are realising now that it has always been rich vs poor. The same problems in Africa, Europe, Asia etc. we followed along with American capitalism and it cannibalised the world
Im living in NL for 7 years now, love it here, speak the language etc. but it's exactly as you say.
Feel like I hit a roadblock in my life. With two average incomes we don't really see any opportunity of owning a decent house here and building a future. We are planning to leave the EU at all. Sadly.
The pension systems in Sweden and Denmark are both great for massively keeping public spending and the national debt down which is increasingly becoming a bigger problem with aging populations (both countries have the lowest public debt to GDP ratio in Western Europe and amongst the most stabile economies in the world according to credit scores - in big part due to the pension system)
While their pension systems also has the benefits of decreasing pensioner poverty (even if it means more pensioners aren’t super wealthy). Sweden and Denmark alongside Switzerland have the lowest percentage of pensioners living below the poverty line in all of Europe.
and also the Australian system, which has been praised around the world and in which the UK wants to emulate.
The problem is that if young ppl not paying, the gov will just borrow more debt. And in return, eventually, be paid by the same young ppl who refuse to pay the boomer tax. Hence, don't rely on China for your manufacture, because a deficit means willingly giving up your tax and your GDP to another country, and China could charge whatever it wants when you are no longer industrialized. Raising the tax on all Chinese goods by 50% to protect industrialized Europe seems reasonable.
Made them invested in Europe so they would be held accountable for desperate price dumping and fire sale clearance tactics
Singaporeian CPF pension system is fullproof
A bit shortsighted to say any pension system is great if fertility rates are well below replacement and immigration is limited as in Denmark, Switzerland etc
Young people in these countries can save money by not having children.
Are you joking or serious
@@patratgames4712 Why would he be joking. Its the only way to save money.
Young hostile, high cost of living nations reaping the fruits which they have sewn (low birthrates).
@@captainsunbear5472and ruin our countries even worse with even lower birthrate
We need more children, not less.
@@patratgames4712 serious. If they want us to have kids, they need to make it easier, not harder.
Here in Spain our current government is playing a very dangerous game with pensions. Every time they want the indirect support of the main oposition party (through absenting from the vote) for a parlamentary vote, they bundle what they want (apoint x person, give subsudy to z...) with a pension increase daring the oposition to vote against pensioners.
So over the last years, they have gained several straightforward increases, that the pensions must at the very least increase each year at the same rate as inflation... .
Right now, the government is flaunting the very good employment of 21 million people, but right now, pensioners and other state supported people are ~12 million (this are not state employees). In the long term, with demographics trends, this situation will become harder to maintain.
Sam as Italy… the situation has to get much much worse before it can get better. And by worse I mean more old people will live in poverty so life expectancy drops making space at the top of the pyramid.
lol it’s worse in the UK we have a triple lock pension which means the pension can increase faster than inflation. It’s completely ridiculous
Do not worry-we are also an oppressed minority in Denmark. Cheers.
Then they had the ingenius idea of solving it with immigration, which ultimately failed and produced further costs.
Who would have thunk that third world immigrants would actually not shapeshift into average citizens from one generation to the other?
Without immigration the situation would be much worse
Proof?
As an former insurance and retirement simulations programmer from Sweden, unfortunately our currently system may be quite sustainable on paper but unfortunately that's not the whole story. Sweden currently has two pension systems in place, one which is based on promises made to the population born 1979 and earlier and one for people born 1980 and later. The older system is very simplified a system that bases your retirement on your final salary before you leave work, with guarantees from the government. This is referred to in Sweden as a "förmånsbestämd pension" and means that the boomer tax which you describe in the video will still be very high for Sweden, but young people will not be able to enjoy the same generous pensions.
@@NizzeNys they obviously won't enjoy the same pensions because the Swedes aren't simply having enough children.
@@inbb510Because the boomers have made it nearly impossible for them to do so.
@@Listen2Concentr8 how so?
@@inbb510Sweden has one of the highest birth rates in Europe
@@DominusPastorMeus Not really and even if that's the case it's mostly from Non European Immigrants and Refugees sponging off the welfare system.. how perfect must it be for non swedes to get paid to reproduce and replace the native population at their expense.. over 60% of foreigners in Sweden is unemployed..
Despite the better demographic situation here in the US, the problem with rising elder care is worse in other ways. Americans are less healthy and have more expensive health care. The effect on younger people is less direct and more difficult to quantify than just tax burden. Younger people are often forced to take time off work to take care of aging or sick relatives, and also have to take on more costly housing to house older people who are not able to financially able to house themselves. This is all in addition to directly paying the cost of healthcare for relatives.
Except in the US people are responsible for themselves and young people don't pay for the healthcare of fat boomers. Young people can choose to help them but they are not forced to.
The video is about Europe not US
Always random US bashing comment even though US never mentioned
@abdiganiaden The US is mentioned. He specifically talks about how the US has better demographics than Europe. I'm also not sure why you think I'm bashing the US. Health and Healthcare are systemic issues that need to be resolved, not some cheap jab.
@@stanton7847 the US is fine, we don’t want to import Euro system where they use the young like piggy bank for older gen
I pay 2% of my paycheck for healthcare and I can make doctors appointment the very next day, why would I change that to lose nearly half of my pay for low quality healthcare with insane waiting times like in Europe l. No thanks.
We don’t want state to be our nanny, it’s not in our character to be ok with that. Give me my money and let me be responsible for it like an adult
@@stanton7847 the US is fine, I don’t want to pay for others bad diets
Universal healthcare means if gov figures out it can save billions by banning sugar it will, we don’t want nanny like state
Individualism over collective nonsense
Can't we just stop pretending like we care about elderly as a whole?
I've worked in a nursing home - the alienation and lack of opportunity there for the elderly is insanity.
Pension system needs to be phased out.
That will even solve the fertility crisis.
Because guess what - the children you raised are supposed to care for you while you help raise their grandchildren.
Generational living needs a comeback.
All this atomisation is unsustainable.
The future belongs to those who show up.
Exactly.
I really don't mind the idea of a pension but you just might be right. Doesn't matter though, people will cling to their system, they'll cling to their freedoms (like the freedom to not have a child or get married) even as society crumbles. I say let it all crumble and the clingers with it and leave society to be rebuilt by the people with stable values.
@@RuthvenMurgatroyd amen
What should be noted is that in the Netherlands, people pay more than 2% of GDP on mandatory health insurance, which costs the same for young people as for old people. So there's money transfer through insurance, but it's not government spending so it doesn't show up in these graphs.
Except it's tied to income and most young people make so little they get money from the government to pay for the health insurance. It's the 30-50 year olds that carry the system tax wise.
The same is happening in the United States.
Boomers are the largest generation in the country at 79 million. They are now retiring in large numbers being eligible for the American pension equivalent called Social Security (SS) and subsidized medical care called Medicare.
When SS was created every working person would contribute out of their paycheck or weekly/biweekly/monthly wages. These wage taxes (Social Security plus Medicare) became known as FICA deductions.
It would more or less be a pay as you go system, with some expectation of separate private savings. Over the years however the Social Security fund was raided to pay for budgets or other items. And with inflation and smaller generations in between, this meant that for the SS fund to stay current, the U.S. government had to borrow money AND use funds of current *younger working* people paying FICA taxes out of their wages to pay for current retirees. As a result Social Security and Medicare are now the largest government annual budget expenditures along with military spending. Those 3 account for almost 80% of government spending--and raising the national debt for future younger taxpayers.
The other problem with this system is that there are no asset or wealth maximums to receive Social Security payments. Only wage caps where someone doesn't have to contribute initially if you are a high earner.
So in practice there are low wage part time workers getting FICA taxes taken out of their wages to subsidize the retirement of mostly better off Boomers who also happen to own the most residential real estate, stocks, and other forms of wealth. In states like California, where the median home is worth nearly $1 million, these retirees are essentially upper middle class. Those with more assets are essentially wealthy.
And their monthly Social Security pension paycheck is funded by current workers earning between $13,850 and $160,200 annually in 2023. Keep in mind 90% of American workers make less than $80,000--far less than $160,200. And although $14,000 for individuals is considered poverty wages, in higher cost of living states in practicality poverty wages are closer to $40,000 for an individual.
Like I said, a low wage part time worker with no assets is getting taxed with FICA out of their paychecks--to fund Social Security, essentially transferring money from Millennials and GenZ to Boomers. Its somewhat akin to a pyramid scheme where the older populations are being funded by the lower wage younger generations.
It would be a wonky but still ok system if all generations were about equal in size but they are not. The next generation, GenX has almost 20 million less individuals. It rises again with Millennials at 71 million (Millennials are largely the children of Boomers). But then falls again with GenZ at around 60 million.
And people have been living longer.
The problem remains for younger generations where the birth rates have been low across the world for varied reasons. This threatens the future solvency of SS and Medicare and there's no guarantees these will be there for today's younger generations currently paying FICA taxes when they retire.
One solution to these issues today is to lift the income contributions cap. And another is to put in wealth caps on who can receive SS. With the current system inequality is being worsened and the burden is unevenly distributed.
The current solutions being proposed today like raising the retirement age are ineffective bandaids that are not solving the core of the problem.
You can put interests payment for the national debt up alongside those three biggest expenditures. A forecast is even showing that interest payments will soon top military spending in the USA. Basically paying for nothing.
Boomers are not the largest Generation in the USA 😂.
25% of the US is Millennials, 22% is Boomers, 20% is GenZ and 18% is GenX.
@@beasley1232 Boomers are the largest generation followed by Millennials, then GenZ and GenX.
Baby Boomers were the product of the "baby boom" after WWII when returning GIs and others married, settled down, and had kids.
Millennials are largely their children.
Yo u might be confusing Boomers as a whole with Boomers in the workplace.
Up until recently Boomers were the largest generation in the workforce. However as they've retired, that mantle has been taken by Millennials. Millennials are now the largest generation in the workforce.
Boomers are still the largest generation though (by a few million).
@beasley1232 Boomers are the largest generation in the U.S. Millennials are the 2nd largest generation.
You might be confusing the absolute number of Boomers alive with the number of Boomers in the workforce.
Boomers were the largest generation in the workforce until they began retiring post Covid.
Now Millennials are the largest generation in the workforce and Boomers the second.
Eventually Boomers will begin to shrink as a generation, but we're just entering that period.
@@beasley1232 No Boomers were the largest generation.
In the workforce it's now Millennials though.
this is what happens when the population shrinks and no one has children.
Yeah, and that often comes as a result of worse welfare meaning people have less money and ressources on their hands, and therefore less excess time, energy, and money to be able to raise kids. Especially if its to a point where both potential parents have to work their ass off in order to make ends meet, as is the case in Denmark and has become apparent after 20+ years of neoliberal austerity measures to our Social democratic welfare state.
@@drdewott9154 no it's actually the opposite. Before the invention of welfare, people relied on having many children so someone could look after them when they got old. It's feminism and the destruction of national and racial identity along with contraception, loss of religion and women in the workplace that has caused this mess.
People have to work their ass off for less now , can't even buy a house with 2 people working anymore. Currency has become worthless compared to what previous generation had. Benefits are not the issue. No one has benefits before and could buy a car house etc on just the man's factory wages.
@@drdewott9154we have more welfare now than in all of human history, and we have the lowest birthrates in all of human history so your theory is bunk
But if a population grows e.g. Netherlands, we have no houses, are unable to provide energy or water to the houses that do get built, and those houses cost over 10 years of average wage. Also, the roads are full but so are the trains, and we have traffic jams even for cyclists.
@@MissMoontreeIt's not because of growing population, it's rather that we build fewer houses than ever before. Check the graphs of England or Netherlands. Or watch the video "Housing Crisis is the Everything Crisis".
This is the kind of content I would usually expect to see in nebula. Kudos for bringing this stuff to TH-cam
Thank you! :)
Or we could just finally tax the absurd wealth of the global oligarchs and have both low taxes on the young and decent pensions when people are old. How about that?
I guess people enjoy to endlessly discuss problems instead of the solutions
How about no?
This is not a solution at all. You tax the rich, money will be consumed in one year but then all rich people left, nobody to tax anymore...
@@CB-ob5fr Money dosnt get deleted when its spent my brother? it gets redistrubted. Everyone gets richer, except those that were already rich, get down to a normal amount
Europe is so screwed and over with, the place is a crazy mess
Boomers bleeding us dry
family should be considered the foundational unit of the society, not the individual, and the state should support the family. that's the problem. the current paradigm is centered on the individual
divide et impera. that's why democracy will never work: it slices up society in any way it's convenient to get elected.
It’ll shift, people with more children will be better off. So people see that and will have more kids again. But before that happens it’ll get a lot worse, particularly for the old people without children.
Read "The web of debt" by Ellen Brown, we have an oligarchy of private bankers controlling the whole economy through a huge monetary scam. Our politicians are merely puppets to these and can change nothing.
Too bad the Netherlands are going through a significant housing crisis and Denmark is trying to protect its national culture and not become a magnet for expats.
Dear, the Social Contract is dead since rich people can move money to Tax Havens. The aging population isn't a real problem, because the productivity growth barely compensates the old-young population ratio. If the profit would be shared well the pensions aren't problem at all.
"sharing" is exactly the problem. If people weren't taxed to hell and instead had more disposable income to save or invest, not many would need to rely on the state for pensions to begin with.
im going to join other rich in "tax heavens" aka any country where gov isnt the majority of gdp. Socialists can always create co-ops and keep all the juicy / easy profit they lust for, they just have to work and take risk for it
@@darthcalanil5333You vastly overestimate the financial literacy of the average person. Most would just spend more and still need help when they got old.
@@darthcalanil5333 lower taxes for working class people. Higher taxes for corporations
@@darthcalanil5333 if rich people and corporations couldn’t move their money to Cayman Islands and other tax havens and instead paid their fair share, probably the common worker would not be taxed to hell and pensions would not be a problem. But every political power seems to be too reluctant in criminalizing tax havens and apply sanctions worldwide against countries who benefit from it and prosecute people who use it.
How is Norway not on top when it comes to best pension system we literarily have a sovereign wealth found worth 1,2 trillion USD, 5x our gdp
Because it's a post-fact clickbait video.
Most countries didn't just find a massive pension-fund underground, so it's not especially relevant.
No welfare, social or any other system in the Netherlands can fix the problems the housing crisis causes. The young are severely outpriced in the housing market. In a way older generations can´t even fathom. Our offer for a house was accepted this week. Our mortgage will be almost 4 times higher than my parent's whilst their house is worth double of ours now. That's almost an 8x difference in monthly costs compared to value. Absolutely ridiculous. We have to live pretty frugal to afford a house and even then we're lucky. Just because we were born 10 years too late. I truly worry about the next generations.
Not in Romania, there NOBODY has money 🎉
You have space and the ever blue Daube...
Young people don't have kids, because they can't afford shit. If you don't have security of a roof over your head, you would not risk the kid.. that's the real reason !
I'm a Spaniard, 19 years old, next september I will begin my second year of university, if there's any advise I can give young people like me is, get either a STEM or a HEAL degree and run away as fast as you can, that's my plan, I just don't see any other options
How the hell is Denmark considered to be a good place to not be exploited as young?? We literally have the highest taxes in the OECD, we are probably one of the worst places you can be born in the west if you have ambition in your life, besides living on government checks and riding bicycles.
From my POV Switzerland or USA (even though its not in Europe) is way better for ambitious young people.
If you don't own anything in value like real estate and you are from relatively poor countries it makes sense to move to Denmark. For example a worker in my city Athens now gets around 800-900eur and needs to pay 300euros for a studio apartment. Electricity, internet, groceries, gas and clothing are the same more or less as in Denmark. Services and restaurants are much cheaper but no money left for these expenses with that kind of salaries. ...as long as you accumulate wealth, there is a point that it's better to live in a poorer country but more tax friendly rather than Denmark.
Without the disenfranchisement of pensioners (and other net takers) in the longer term elections in Europe will be won by parties of pensioners which made problem even worse.
Danmark i medierne igeeeen!! 🇩🇰🇩🇰🇩🇰🇩🇰
Ja, men kun fordi han forstår ikke den danske skat metode, og hvor mange gamle folk bor her.
Åh Danmark. Har et årligt statsoverskud på 90 milliarder og nægter stadig at lette det enormt høje skattetryk.
DANMARK VINNER IGEN!! ALDRIG TABT SVÆRGER
In regards to Denmark, It would be more accurate to say the pension system has partially been decoupled from the state than privatised. Some retirement funds are in whole or in part run not-for-profit, union owned, employer-worker funded, or cooperatively owned by savers.
Non-state non-private organisations have the advantage of serving the public and being shielded from political whims or capital extraction from private owners
The same goes for a few banks, insurance organisations, mortgage lenders, electricity producers, water systems, supplemental unemployment and health insurance, parental leave, vacation, and non-profit housing.
If you want people to work and be creative creating added value, you need to stop taxing work and start taxing consumption. Like only tax consumption but make work tax free.
saying that Japan is doing well with pension moderation is disingenuous
Aging is an inevitability. And old age is a privilege. When we are young, we drain resources. As adults, we contribute to society. As our days get shorter in our old age, we once again rely on others. I have grandparents and parents who are older and I have family members who are about to enter the workforce. Everyone has things to worry about, according to their own situation and perspective. Let us approach this issue with compassion and understanding and fairness.
no. The boomers should be taxed like no tomorrow. I'm a young italian and this is what has been done to my generation just to pay their f....g pensions
nah, just abolish retirement before it's too late
@Armin_Akoyimcompassion dont pay the bills, doesnt create jobs or build homes.
Speaking of compassion, maybe we can start with getting Boomers to allow new housing construction so young people can actually afford a home?
Or getting Boomers to vote for a tax cut on the young, funded by pension reductions, where they only take 2 cruises a year instead of 3?
Why is your idea of compassion: “young people have to be squeezed to allow old people to live in luxury”?
You really should have sources for the data on every graph, is easy to do :)
Something lowkey nobody thinks about is to make jobs for minors legal, like starting from the age of 14 ish.
AFAIK In the Netherlands you can start working at 13. My girlfriend was shocked when she saw children working at McDonald's here 😂
In what country can you not work at 14? Isn't it pretty common everywhere for teenagers to have a summer job or some weekend job to save up pocket money?
As a young professional from the Netherlands, I find this video very short-sighted. Many young people, even those with well-paid jobs, live paycheck to paycheck and can barely save. This is due to the high cost of living, including rising rental prices, energy costs, and daily expenses. Additionally, salaries often lag behind these rising costs, and the high tax rates on salaries in the Netherlands exacerbate the issue.
To illustrate, consider a young professional with a gross monthly salary of €3500. After taxes, their net take-home pay is €2843.
Monthly expenses might include:
Rent: €1500
Health insurance: €150
Energy costs: €200
Public transport: €100
Groceries: €350
Internet: €50
Phone subscription: €50
Insurance (household, liability): €30
Gym membership: €30
Clothing and shoes: €50
Entertainment and social activities: €100
Subscriptions (streaming services, magazines): €20
Miscellaneous/Unexpected expenses: €100
These expenses total €2730, leaving a surplus of only €113 per month.
This example shows that even with a relatively high salary, it can be challenging for many young professionals to save due to the high cost of living. Keep in mind, this scenario is for someone living alone and only caring for themselves.
interesting to see Slovakia at the bottom part of tax burden graph, even though we pay effective 50% tax rate from total gross salary (and that does not change in any income bracket) only gets slightly higher above 50k/year.
And do not forget to say, that our pensioners enjoy 13 pensions per year. Also, a lot of young Slovaks are moving abroad, so it is indeed interesting.
I dont like how the elderly here are almost framed as the enemy. The enemy is the pension system, which is faulty. The focus on the video should be that... shm
Correct. This has a name; Polarization between old en young.
But they are. I grew up in the Netherlands, and was taught that we live in a coherent and collective country with each other. It was a major shock to find out that boomers were all along actively promoting policies that would cause large parts of my generation to be unable to find an independent living space. It's nothing less than betrayal.
Young people need support so that they can have an apartment, start a family and have children.
Young people who will not have a flat, family or children will only worsen their future situation. That's why we're already talking about immigration - which should be wise (like in Australia).
Bothers me that you didn't define/clarify what are "young people" according to you. Teenagers? University students? Young adults? Working adults? 18-24? 18-34? 25-34? Even tho you had that graph on your wall the whole video.
Hi,
In the case of this video, 'young people' refers to workers as opposed to retirees, but since young people (18-34) are those with the most working years ahead of them, this concerns them more than a say 50 year old who 'only' has 15-20 years of work left to do.
Cheers,
Hugo
@@IntoEurope thanks for clarifying.
Def don't be between 20 and 30 in the Netherlands. You'd have a student loan debt on top of unaffordable housing. Be 35 instead, you'd have a nice discount and only took out student loans for buying a house which was about half the price or less than now.
Also, the minimumwage for 18 yo there is half the adult minimumwage.
@@MissMoontree The way the original outstanding debt for student loans is factored into mortgage calculations means at 35/40 you might own something smaller, but can't finance moving unless you managed to remain debt free (aka have rich parents + free housing) AND get a decent degree. It's 'find a rich boyfriend' or be stuck.
@@MissMoontree you guys have laws for teenage labor exploitation? Holy crap, is this really the west we wanted to be part of when we joined the EU in 2004?
Ridiculous that young people pay so much. Big companies should contribute much more.,but their lobbying power is immense.
my grandparents could buy a large house in the 70's for about 2 years salary, now the same house would cost me 13-15 years income. The boomers are sitting on most of the housing market. its insane
Should be ín te grave
All this doesn't make Dutch taxes low. In most cases, you only pay for your pension in a private fund. You also pay for your compulsory private health insurance. In the end, you pay as much in taxes as you would in any other European country that spends less on its elderly.
So far, the population growth took care of everything. This is a pyramid system that can't continue though, as we live on a finite planet. The world's population is shrinking, and people are getting older. Moving to a country "for young people" won't solve anything. What we need is new thoughts on living with a changed reality.
You can't really ease the burden on the younger genereations by cutting pensions and healthcare costs though. If you do that - the youth will be kinda forced to support their elderly family members directly. You also can't have boomers work till they are dead as it will negatively affect the chances of the younger gens in the labor market and hinder productivity increases.
Some other approach is needed here. Like maybe pushing for more social equality and actually taxing the rich.
TAX THE FUCKING RICH!
@@Peter-bk4pz Doesnt work either, they will just move abroad.
Not really, in south korea many seniors live in poverty or even on the streets despite having successful children. You shouldnt be entitled to certain standard of living, pensions should cover just the bare minimum. It has been shown by japan that postponing the retirement of experienced workers can be beneficial for the economy, those older workers are still more productive than most young workers.
@@Mastercane98 can you imagine letting one of your parents live in the streets? How do you feel about people who would do that? Like 95% of young people will help their parents if those can't get by with their pensions. In most countries children are even legally obliged to do so.
The second argument is very counter-intuitive, you would have to provide some data to support it. Elderly workforce really bring very little to the table, especially due to their unfamiliarity with technical innovations. All they really do is take good jobs and managerial positions away from the younger gens. Everyone who has ever had a boomer boss knows that.
Moreover, Japan isn'tcreally a great example for combating ageing population. The country is in a pretty deep crisis and the youth there are in a very bad place, unfortunately. Not to mention South Korea with their staggeing 0,66 birth rate...
Ah yes, the magic spell: 'tax the rich'.
As you state yourself, it isn't that simple if you think one step ahead.
We really do need a new approach to taxes though.
I am 61 living in the Netherlands. I will have to work until probably 68. I refuse to do that. The generation before me was laid off with 80% net pay at 57. I will not work 11 years more than my boss did. I just won't. Whatever the financial consequences.
That’s why the voting age should be lowered to 16. And personally, I think old people votes should be weighted. For instance, after retirement, you only can vote twice of three elections, or something like that. Until the population pyramid is normal again.
I’m 71.
Adding the "I'm 71" part to the end made your post a lot more sincere.
As someone with an interest in history, I think this is a cultural issue. If the elderly have decided that they are more important than the young, any changes by the government will be near-impossible, see France. Countries where the elderly aren't trying to be a pain in the ass would be able to pass such vote-limiting legislation, but they are also the countries where such laws would be the least needed.
I think the old will continue weighing down their children and grandchildren until the recently seen trend of political polarization gets out of hand, at which point we will either go down an extremely scary extremist route, wherein the elderly will be "dealt with" OR someone moderate will come around and convince the elderly to chill out. A charismatic elderly politician who can show a better example to the old is what would be needed, as I doubt the majority of boomers would listen to anyone else. (if course you want less pensions NOW, wait until you're older!)
Overall, I hope my generation will be willing to plant the proverbial trees when we get older. I'm 31 now.
Here is more simple suggestion: every kid below 18 would give one of their parents one more vote. This way all children, even just born, would be represented in democracy via their parents.
@peterlovisek9210 you think toddlers should vote?
@@peterlovisek9210lol no, most parents would use these votes for their own interests
Nah, let voting rights be dependent on tax contributions. The people that pays the most in taxes gets more votes. One universial vote per citizen, and then one extra vote for every, say €5,000, paid in income and capital gains taxes. That way the people that contributes the most gets to decide policies.
Denmark is a great country to be a foreigner in as long as you're not from Eastern Europe or the Balkans. There is a facade of acceptance, but the majority is quite xenophobic. I don't want to point the finger or anything, but that has been my experience living in Denmark, and seeing how a lot of foreigners abuse the system, I understand why they are this way.
what about third worders? do danes prefer them more than east euros?
@@bigboyman5743 yes more diverse
@@bigboyman5743Danes pour their frustrations with brown immigrants on nonwestern Europeans cuz doing so directly is "racist"
Standard across Europe, the only 2 countries I know of being ok with Eastern Europeans (Polish in my case) are Irish and Dutch, had only good reactions with them. I am currently living in Ireland :)
@@KoRbA2310 to be fair, if Danes do get to know you and you're a hard working and honest guy, they LOVE you, but they always seem to assume the worst. It is quite hard to get a decent job without recommandations from past coworkers in other companies for example, but if you have someone to vouch for you they generally treat you well.
Croatia here
Young people under 30 enjoy tax deductions on health care and reduced income tax. I believe most of the EU countries have such measures
Boomers built Europe as we know it, an area of the world with a good work-life balance and a wast social welfare state. Let's not be ungrateful and get to work to leave a better world behind us as well
Nobody says that we don't want to work. But if a pension is the only thing boomers think about, then they are just blind voters misused by populist parties. Such as in my state, Slovakia.
Always the shitty "moral" argument. Oh they built everything! The world started with boomers, before there was nothing! And NO, of course when a country, or the west, almost entirely is disproportionately benefitting a generation over others, we have to discuss is. In Spain a cultural "check" of 400€ for all who are 18 and inter city train free until 30, guess the median age of emancipation? 31 first child? Home owners under 40? From 70 to 30%. Stop the nonsense
A lot of your video is pretty good, but I have a couple criticisms:
1. The "young people are an oppressed minority" claim undermines everything else you said. It's not just disingenuous cringe, you'll also quickly age out of it. If you want to see real oppression, go live in an actual socialist state for a while.
2. You make good arguments for increasing the retirement age, though you miss on ability to work; many are forced to retire early because physical/mental inability to work.
3. What's do you consider a good transfer amount? Is it "enough to live in your car" (as in some places in the US) or "who cares what they contributed, let the old die in the street?"
4. Time marches forward. Blink, and you'll be one of the elderly "oppressors." What are you doing so you don't become the same burden when you're old and infirm?
5. I see the argument "young adults don't have kids because they can't afford them" all the time, but I don't buy it. While there ARE a lot of people struggling because of lack of money, there are also a lot of people struggling because they don't recognize what a luxury is. Liquid body soap? Luxury. A/C? Luxury. New car? Luxury. Living on your own (no roommates)? Luxury.
I think the problem is threefold.
First, everyone compares themselves, at their current stage of life (young/middle age adult) to what Boomers managed to accumulate by the late stage of their life through the most economically affluent period of human history. We're not living in those times, and we haven't had the same number of decades to accumulate wealth. No one is comparing themselves to earlier generations, who lived with their families in one bedroom huts with an outhouse, who grew a garden in the vacant lot next door so they could feed their family through the Great Depression or the Great War (WWI), or who moved their families away from (actual) oppression and persecution to some far-distant land and different culture so they could have a future.
Second, we're all entitled to these luxuries because most of us can't remember not having them. We buy a breakfast sandwich instead of eating oatmeal at home, buy a pre-cooked chicken from the store on our way home instead of boiling beans from a bag at home, have 5+ subscriptions for phone, internet, streaming, gaming, pick-your-thing(s) instead of sunset walks and board games. We spend money in all kinds of ways we think is "normal" that previous generations throughout 10,000 years of human civilization didn't even have available.
Finally, as mentioned before, people are struggling to different amounts for different reasons. This comparison only to boomers and unrecognized entitlement happens in an uneven economic situation. Some people ARE eating beans from bags, using bar soap bought in bulk, and have no summer A/C or winter heat. Others literally cry about how hard life is on 200k annual income on an iPhone TikTok shot from inside their pristine new $60k car/truck. The disparity between people actually struggling, and people who think they are struggling is distributed in a way never possible in earlier generations before social media, confusing the overly-simplified "narratives" around it. Where's the nuance?
Your analysis is a good start. I recommend staying away from resentment, it's a poison to your life, happiness, sanity, and credibility.
Where do you live?
Best place in Europe for young people: Not Europe 😅
As a young dane I would say Denmark is amazing to live in. Yes there's taxes, but you get a lot of benefits when you're young. Every year the state gives me 1000$ because I'm currently studying. That covers rent, food, insurance etc. I work 8 hours a week beside school, so 1 or 2 shifts. This money goes directly into savings or fun money. I have 0 debt and live in a 2 bedroom apartment with my boyfriend minutes away from inner city. Flights are also cheap in europe, so I can easily book a spontaneous 1 day trip or a weekend away in italy or france. The city is also filled with opportunities for young people like myself. So yeah, Denmark is an amazing place for being young.
Nothing is more insane than a young person describing themselves being robbed as "welfare transfers", "pension payments", or "health expenditures". Robbery is robbery, even when the villains pretend to be helping their collective selves in a nice community manner using helpful goons. The pain pushed into the lives of young people is VERY real. Why pretend this is something other than a blatant crime in progress?
@Armin_Akoyim This is why the only sensible stance is to declare as an individual that everyone who steals is a criminal. If you allow someone who steals to set the stage and make the rules, their incentives are already perverted.
The government spends everything they steal immediately, either to buy votes for the next election, or to incentivize future donors to fill their coffers. Saving has no meaning when you aren't personally accountable for fulfilling the promises made.
Only the individual has the proper incentives to plan for the long term, and we should never have even begun to consider out-sourcing it for this simple reason. A thief is not our servant, but most of us can't seem to accept this as the truth.
@Armin_Akoyimtoo bad, europeans ahould have just given birth to more chilsren!
@Armin_AkoyimOh the guilty party here are governments, who votes these governments the past 30 years in UK, DE, IT FR ES etc? And NO, is not a choice to decide who will suffer, we could build 10× homes, rationalize pensions systems etc. remember the 30 glorious years? Now is impossible because productivity and lower fertility etc. but we could do much better
In Sweden the pension system have what is known as "The Brake". The automatic annual adjustment of pensions is directly tied to the performance of the economy. If the balance between incoming and outgoing money in the state guaranteed part of the pensionssystem goes down for some reason, pensions are lowered until balance is achieved.
The elderly already paid for their aid through taxes during their working years, many starting their career as 13 year olds and therefore having contributed to society for 60 years whereas young people usually only contribute for about 40 years - and starts in debt because of taxpayer funded education that the boomers did not have access to. So this is basically just ageism.
No. The way in which it is suppposed to work is that the elderly also acumulated wealth and have less expenses so they have a pension that is less than what they woyld earn if they worked but allows them to keep their level of life. When the average pension is higher than the average salary you have an issue, especially because the future pensions will be calculated off of salaries. If you add to that how the main expense of most people is housing and the elderly own their houses...
Boomers had cheaper and freer and more state-funded eduction than we do today
Dafuq you talking about
The problem is not being old! More immigrants more low wages! The companies must pay more for the society! The problem is the greed from a minority of elites! Even the coronna vírus killed the poor old people and is not the solution!
If i was a politician i would replace you with immigration too what kinda delusional people think they can get a pension without having 2 kids
Whatever isn't in EU would be best for young people.
don't know about the rest of EU but in italy they should cut the damn pensions of people who have earned insane amounts of money throughout their lives. a chemical engineer, who by the time of retirement has hundreds of thousands if not millions in savings, can't have a pension of 5000 - 10000 euros each month for another 30 - 40 years since people live long these days and there are people like ex bankers and such who have pensions up to 50000 euros per month.
between rich and poor, somethings never change but they sure must at some point. the worst part is that we're all collectively throwing any sort of morality and values out the window more and more these days.
Very nice video, but I don't think that you can say that pushing pension age is that young people friendly in the end. There are countries like France and Spain where companies could profit enormously from younger, more educated workers, if old people retired and kick started a hiring process in many companies. Having people wait longer for retirement, just clears no space for young people come in and churn in the economy, they are basically just sitting on the benches, not doing much, look at the NEETs in France or Spain. Also in countries where firing is difficult, many companies keep older workers just because of the expense of firing them close to retirement, and they give them busy work, not great for productivity either.
Another thing that might be interesting to see is what would the gap of funding be if pay would have kept up with productivity growth more closely. The pension systems were devised up in an era where there was less inequality in compensations and, dare I say, less tax optimization🤔.
In Sweden the pension system have what is known as "The Brake". The automatic annual adjustment of pensions is directly tied to the performance of the economy. If the balance between incoming and outgoing money in the state guaranteed part of the pensionssystem goes down for some reason, pensions are lowered until balance is achieved.
I’m sorry to say that I didn’t find the presentation easy to follow. You don’t really explain the graphs at all. By the moment I start comprehending them, they’re already gone. And no, I’m not gonna pause it
Social security/ pensions should just cover the bare minimum. In the west, people believe that they are entitled to a certain standard of living just because of the country they reside in, which shouldnt be the case. It is completely unreasonable to burden an entire generation with high debt and oppressive taxes to give those who have had an entire lifetime to accumulate wealth a substantial pension.
I believe SS/pension is suppose to supplement your retirement not fully cover it!
@@Mastercane98 I will not be here to hear you make these points from the opposite side of the barricade when it will be your turn to collect on the taxes you paid all your life. do you really think that 1,000€ per month, after paying for 42 years into it, is a “substantial “ pension? considering how long people live, it amounts to 200,000€ total, paid in 20 years, if we’re lucky to live that long.
@@riccardob7774 You should be saving for you retirement, it is short-sighted to rely on daddy government to support you when you have no idea what the political situation will be like in 50 years time.
@@baileyharrison1030 How shortsighted of an opinion. How many times I have to repeat that people PAYS into Social Security. PAYS, with real money from real jobs. All their life. It IS a retirement plan. Managed by the government but with money WE paid into it. The government doesn’t give us money if we didn’t pay into it. Now….there are entitlements, money given by the government to people who didn’t pay for it. They’re called Safety Nets. But this is not the case for Social Security. If people keep voting for politicians promising to reduce taxes, you end up like this. With programs conceptually safe and sound like Social Security gutted and YOUR money stolen to go cover the missing income taxes from the rich.
This is becoming the case in pretty much all modern countries because of the boom in population growth decades ago and now we have a bit of an imbalance from young and old, throw in that people are living longer and it's easy to see how that can put a strain on the younger generation of people when it comes to taxes and supporting public services.
The irony is, it's probably not as big of a problem as we might like to think, we are quickly entering into a A.I. robotic world over the coming decades, if this ends up taking over the majority of labour and jobs, we could end up in a situation that having more of a younger generation could become more of a burden if we can't find jobs for them.
Either way, one thing I've learned through life, anything that gets highlighted as a problem and grows as a problem with time, ends up not really being that big of a problem over the long run because of policy changes over time to counter the problem, so being aware it's a problem and having time to fix it is likely enough for it to not really be a problem when we think it will be a problem, and I suspect that A.I. and robotics will be the solution as that could solve all these issues apart from one, finding work for the younger generation of people, hence why the issue could flip on it's head over the coming decades and it ends up being a much bigger problem for countries with a much bigger younger generation of people, especially if they can't find them work because A.I. and robotics is taking over the jobs.
As for the older generation of people, A.I. and robotics will likely be able to deal with all that, after all, governments might need far less taxes if A.I. and robotics can do a lot of the jobs we do in the public sector, but taxes are unlikely to go down much, if at all, it just means a lot more can be done with that money then we can today, which will probably end up with a human basic income as it's unlikely we'll be able to find enough work for everyone in a A.I. robotic world, and even any new jobs we do create, A.I. will likely be able to replace us in that.
But honestly, I'm far more worried about the job losses that A.I. and robotics is going to do over the coming decades than the issues of the young and old generation., the reason I'm more worried about A.I. is because governments are slow to change and a lot will need to change with the impact A.I. will have on the world, I suspect many governments will let things get so bad that it could lead to revolution, whereas some countries, probably European one could fare much better because of the social structure of the society and higher taxes will make it much easier for them to create a human basic income, in other words, they are less likely to let things get really bad before they change, whereas I think the US and many developing countries will let things get really bad before they change, the end result in those countries is that far more wealth will end up in fewer hands and not enough jobs to go around as A.I. and robotics takes over.
This isn't the full picture, for one thing Sweden may be more frugal in paid pension but that's excluding the money saved be the elderly due to universal health care which saves them tons of money (at least if you compare to the US and others with poor health care systems).
Same in the Netherlands, we have mandatory health insurance at fixed rates. In that way, young healthy people also pay for health care costs of the elderly.
@@jow3724 - would I get an exemption then? I am 61 and I have had a total of 2 days in a hospital bed during my lifetime? And since I have no children I really should get a boost on my upcoming pensions since I have not utilised state sponsored benefits like kindergarten, school, and free, higher education.
And since I migrated to Sweden at the ripe age of 30, a very productive age, I was not a burden on Swedish tax payers for those first, expensive years.
I demand compensation!
Rich pensioners in France ? Check your data, 50% of pensioners in France earn less than the minimum salary, but the other half make the numbers lie. the problem is some few people who don't even need it receive huge pensions while the half of pensioners can barely pay their bills.
Thanks for the video, i've been looking into moving to either the Netherlands or Denmark. I live in Greece and it's 100% clear that there is no future here at all for young people, most of us have university degrees yet work in service jobs so we can give almost all of our salary away to the government.
We are short of 500.000 homes (rent en buy) so good luck competing with the higher salary’s here in Netherlands
Don’t move to the Netherlands, the housing crisis is so bad you will end up spending your salary on rent. People are racist and companies will hire you less often if you don’t speak dutch.
Source: I lived there
With the new law you better get away even if working 6h/week was already common, for money most popular destination now from highly skilled people from my country is switzerland and benelux, you spend more but savings are also bigger, their standards are higher than southern europe compare to us i would say they have upper class lifestyles.
Good luck greek friend.
Denmark isnt that different in that regard sadly, don't get your hopes up. Plus the housing crisis is extremely harsh here as well, you can barely even find any place to live unless you're already rich or willing to live with a partner on a super tight space. Whats worse is that the private pension funds mentioned in the video are partly to blame since they jack up the property prices and rental costs to pay back the profits to peoples pensions.
If you move to the Netherlands, you'd be homeless though. Unless you make 100.000 per year finding a house will be next to impossible.
The bizarre thing about high pensions is they disincentivize the immigration of young people, and not just because it's a high tax bill. If I move to France, work for 10 years, and then leave before I retire - I've just paid a lot into a pension system I won't get anything out of. Compare that to uk/aus/nz, with government-run (and mandated) retirement funds - but if you leave to another country you can take your savings with you. Considering a retirement system like France is so dependant on young people to make it work, you think they'd be wanting to make it attractive to young people. No one at 20 really knows what they want to do in life, why force people to try to predict where they'll grow old.
I'll gladly move to Denmark and be efficient for the country :3
We are in need of carpenters, brick layers, electricians, welders in Denmark no one can do manual work anymore because everyone wants a doctors degree or just use the system and sit on their asses.
I don't want to sound radical, but without seniors, we would have far less problems. Housing, taxes, work force demand, politics (they especially believe propaganda).
I’m French and I had never seen it that way.. I think elderly people deserve to have pensions because I believe in a social system and that they are a very vulnerable demographic. It’s interesting though that it weighs on younger generations, I’m 19 and I’m studying, I’ve never felt that much anxiety before but I still don’t think it’s that simple.
Aren’t they on average the richest group? With a lot of real estate
@@pietoud1991Here in the UK the average pensioners has higher disposable income than the average working family.
The average pensioner retires with over £300,000, has a house, and then gets state pension money. At the current state pension that means that a lump sum of £300,000 is needed to fund their state pension.
This means that state pensioners are literally millionaires and yet they’ve brainwashed young people like this dude to feel sorry for them. Haha.
Sorry to break it to you, but the Netherlands has other issues creating a stunt in growth of dutch-born citizens. Just to mention one. Housing
In France, the retirement age was low and for many years, nobody dared to increase it. But the burden for the younger generation to pay the pensions for the baby boomers became too big. A couple of years ago increasing the retirement age became inevitable, leading to heavy protests. Even young working people protested, what I thought was strange.
Young people protested because the average person is a rtard
The partially and poorly labeled graph you show from 1:44 to 2:00 is really excellent for innumerates who want vague words to wash over them without understanding what they're looking at.