The baby boom is being evicted from the penthouse of American politics. And on the way out, it has decided to trash the place.
That’s probably the best way to understand the generational implications of the tax legislation Republicans are driving through Congress.
The House and Senate measures shower enormous benefits on households at the top of the economic ladder, a group that by all indications is older and whiter than the population overall. Then it hands the bill for those benefits largely to younger generations, who will pay through more federal debt; less spending on programs that could benefit them; and, eventually, higher taxes.
In that way, the bills would intensify the generational inequity in how Washington allocates resources between the country’s