During covid times, the entire working population has taken a massive hit to save the lives of the retired population. That was absolutely correct - but that sacrifice leaves scars and a huge economic cost. Time to talk about means-tested pensions and capital gains windfall taxes

Pensions are viewed as a god given right. But why should a very wealthy retired couple in Rosedale be able to draw a state pension? How is that fair in these times when many poor people cannot survive on the crumbs the state gives out? Why not means-test pensions?

This does NOT mean denying pensions to those that need. But many boomers are sitting on vast wealth accrued through property capital gains. Why should poor people sacrifice their livelihoods while rich people keep taking pensions? That money should be used to help the poor.

To me that is the least the boomers can do. They sit on a vastly disproportionate slice of national wealth and many working adults sacrificed hugely to save their lives. Surely the wealthy can forgo their pension so that the $ can help those who sacrificed $ and jobs for them?

An alternative is to rectify grotesque wealth disparity driven by endless property price increases. Boomers bought when houses were cheap and now sit on vast wealth solely due to property value boom. That’s an unearned windfall - it should be taxed to help covid recovery.

Millennials esp are screwed in terms of home ownership and cannot profit from the same type of endless boom. Yet they are sacrificing their livelihoods and earnings to save the boomers - surely they have earned some fairness of opportunity? And that has to come from the boomers.

By age 50, boomers held ~50% of national wealth. Gen x - more like 15%. Millennials will be lucky to have 5% at current projections. That is soups crushingly unfair are the best of times. During covid, when they are making the sacrifices? It’s obscene.

Somehow we have to use this period to recognise the absurd wealth disparities in our society and to reward the generations and populations that sacrificed. That requires a redistribution of wealth and opportunity. And that requires taking from the rich to give to the poor.