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The baby boomers represent the largest generation in American history consisting of about seventy-six million people [Gillon, 2004]. The special name for the boomers is derived primarily from its enormous size in comparison to the smaller generations that came immediately before and after that time period [Gillon, 2004]. There was not one previous generation that had been developed on such expansive hopes or had been so confident in their ability to change the world. According to Gillon [2004], the baby boomers were the first generation to realize the American dream of equal opportunity for all of its citizens. Zeitz [2005] described the
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Boomers can be in for a rude awakening when they try to dispose these investments. According to Wharton School professor Jeremy J. Siegel,
The value of their accumulated assets – not just their stocks but also their bonds, their homes, and even the government bonds that back up their Social Security and Medicare – could plunge by up to 50% over the boomer generation’s remaining life span [Bernstein, 2006].
Mr. Siegel explains that the value of these investments will decline because there will be more people trying to unload their investments than individuals wanting to purchase these assets. If these investment assets lose their value as Mr. Siegel expects, this will be one more factor leading to a lower standard of living for the baby boomer generation who acquired these assets to help support them after …show more content…
By overhauling federal immigration laws, the government can capitalize on the enormous number of illegal immigrants entering this country. It is estimated that there are close to 20 million illegal immigrants in the United States. Most of these immigrants come to this country and work in low skilled jobs due to lack of education or training. Because these immigrants are undocumented, many work for cash. By working for cash, they do not have to produce employment documents such as a Social Security card. Employers benefit not only because of cheap labor, but also because they avoid paying taxes on their wages. By implementing a worker visa program, the government would be able to collect tax revenue not only from the illegal worker, which is already working in this country, but also the employer trying to avoid the tax obligation. Although this is a very controversial solution, people in this country are going to have to think out of the box unless they are willing to pay higher taxes to cover the ever increasing federal
Boomers can be in for a rude awakening when they try to dispose these investments. According to Wharton School professor Jeremy J. Siegel,
The value of their accumulated assets – not just their stocks but also their bonds, their homes, and even the government bonds that back up their Social Security and Medicare – could plunge by up to 50% over the boomer generation’s remaining life span [Bernstein, 2006].
Mr. Siegel explains that the value of these investments will decline because there will be more people trying to unload their investments than individuals wanting to purchase these assets. If these investment assets lose their value as Mr. Siegel expects, this will be one more factor leading to a lower standard of living for the baby boomer generation who acquired these assets to help support them after …show more content…
By overhauling federal immigration laws, the government can capitalize on the enormous number of illegal immigrants entering this country. It is estimated that there are close to 20 million illegal immigrants in the United States. Most of these immigrants come to this country and work in low skilled jobs due to lack of education or training. Because these immigrants are undocumented, many work for cash. By working for cash, they do not have to produce employment documents such as a Social Security card. Employers benefit not only because of cheap labor, but also because they avoid paying taxes on their wages. By implementing a worker visa program, the government would be able to collect tax revenue not only from the illegal worker, which is already working in this country, but also the employer trying to avoid the tax obligation. Although this is a very controversial solution, people in this country are going to have to think out of the box unless they are willing to pay higher taxes to cover the ever increasing federal