Seems like billionaires are looking for a scapegoat regarding the deflating Social Security funding. The Peter G. Peterson Foundation has been trying to get college students to blame senior citizens for the economy; their point being that these kids are screwed when it comes to their “Social Security inheritance”.
$2.9 million-worth billionaire Stanley Druckenmiller, former head of the hedge fund Duquesne Capital, has launched his own campaign as well. Druckenmiller is after Wall Street Journal writer James Freeman who wrote a piece reading:
“Stan Druckenmiller makes an unlikely class warrior. He’s a member of the 1% — make that the 0.001% — one of the most successful money managers of all time, and 60 years old to boot. But lately he has been touring college campuses promoting a message of income redistribution you don’t hear out of Washington. It’s how federal entitlements like Medicare and Social Security are letting Mr. Druckenmiller’s generation rip off all those doting Barack Obama voters in Generation X, Y and Z.
“I have been shocked at the reception. I had planned to only visit Bowdoin, ” his alma mater in Maine, he says. But he has since been invited to multiple campuses, and even the kids at Stanford and Berkeley have welcomed his theme of generational theft.”
But is Social Security really to blame for the awful economy college graduates are facing? How about lousy wages to work unreliable jobs, how about college debt? In fact, a recent poll conducted has pointed out that only two-thirds of seniors depend on Social Security. And that’s for half their income.
So what can be done? Well, these billionaires could be taxed. And most of America’s college students aren’t siding with the Peter G. Peterson Foundation or the filthy rich like Druckenmiller.
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Read more over at the Huffington Post.
|Kenneth G. Marks has been practicing personal injury law since he was admitted to the California Bar in 1981. www.KmarksLaw.com|