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Why boomers are set for intergenerational payback as Australian millennials look to square the ledger
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- 2 years ago
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- abc.net.au/news/2022-03-...
The majority of the extremely wealthy are from the Boomer generation, while there is merit in redistributing a reasonable portion of accumulated wealth from Boomers there should be an extra focus on targeting these wealthy individuals so they don't slip through the net using tax minimising tricks not necessarily available to the average Boomer. In particular, onshore and offshore trust funds that have existed for decades and any recent derivatives of them should be targeted in particular. It's not just about targeting the wealthy Boomers who have hoarded their assets over the years but breaking the systems that allow them to avoid their fair share of taxation during the "good times" and getting these stagnant funds back into circulation again with the younger generations.