The National Debt is a “Grandchild Tax”

Posted on 6th February 2008 by Ryan Somma in Enlightenment Warrior - Tags:

Children are living messages we send to a time we will not see.

– John W. Whitehead

Dear Babyboomers,

I just wanted to wish you congratulations on your impending retirement. Could you do Generation X, Y, the Millennials, and so forth a favor before you go, and please clean up your $7,000,000,000,000 mess before leaving the workforce?

I hope you enjoyed the roads, national security, law enforcement, regulatory agencies, agricultural subsidies, clean water, social services, generalized scientific research, public schools, consumer protections, and emergency response services America’s $8.5 trillion credit account provided you, not to mention your impending monthly Social Security check and Medicaid benefits, but just because you’re going to die in a few decades doesn’t mean that obligation will go away.

You see, taxes cut while running a national debt are actually taxes deferred. They are passed along to your children, grandchildren, and great grandchildren. “Grandchild Tax” is far more apropos a descriptor for your decades of irresponsible spending than “National Debt.”

This debt is intergenerational tyranny. Babyboomers are oppressors, levying a tax on their unborn descendents who lack the existence to defend themselves. This is taxation without representation.

This gargantuan debt puts us at China’s mercy, threatens the GDP, and, worst of all, loots American citizens’ futures.

Your parents, the Greatest Generation, sacrificed so much to bring you a better world, but that world was on loan to you and you have a responsibility to pass it along to your progeny in fair condition.

If you will not act responsibly, then history will hold you responsible.

5 Comments

  1. Entertaining letter but fortunately in error. It demonstrates a misunderstanding of the national debt and currency. The national debt will never be eliminated as it represents the money supply plus leverage. Yes, those dollars in your wallet/purse are debt. It is a brilliant system more would be wise to study. There are fiscal and monetary restraints on the debt/money supply. The fiscal restraint is debt service as a percentage of revenue and the monetary restraints are inflation and exchange rates. It is better to discuss these restraints .

    Comment by norman — February 6, 2008 @ 11:17 pm

  2. […] ECONOMICS: Dear Babyboomers: The National Debt is a Grandchild Tax Ryan Somma has captured exactly how I feel once again, with his sarcastic congratulatory letter to babyboomers are are about to retire. […]

    Pingback by links for 2008-02-07 « Clint’s blog — February 7, 2008 @ 6:20 pm

  3. I understand completely that the National Debt is not entirely like personal debt (it makes much less sense). The fact is that an excessive National Debt like ours, owned by Asian countries devalues our currency and puts our economy under foreign threat. In today’s world, with China owning so much of our debt, if they so much as think about diversifying their investments, the value of the dollar plunges.

    I think the error is in thinking the National debt can inflate forever without consequence. Which is exactly what the Baby Boomers have done. That is trading our Nation’s Future for short term gain plain and simple.

    Comment by ideonexus — February 8, 2008 @ 12:14 am

  4. <>

    Let’s get this straight. It’s theft. We’re spending their money. Not on the misdemeanor scale, but on the felony scale. There can be no greater crime than stealing from your own children. Drug addicts to that on an individual level. Our society today does that on a national scale.

    Many of us will be dead, but there will be an accounting. The current generation will be held the worst in our nations history by a wide margin.

    Keep in mind, the United States has held other countries, which have gotten themselves in debt, hostage to repaying that debt. The rest of the world will not forget, and we’re not going to like the taste of our medicine.

    What we’re doing to our children is, honestly, despicable.

    Comment by Linwood Lyons — March 17, 2008 @ 1:58 am

  5. Debt is the biggest issue facing us all.
    I found this video on YouTube which really opened my eyes to the importance of getting out of debt: http://www.youtube.com/watch?v=50bWUrKAbwU
    I am sure you will be as amazed as I was.

    Comment by Chris — June 20, 2009 @ 2:50 pm

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