Week 5: Aging Population
It is unfair for younger workers to be taxed more to support the needs of an aging population.
What is your opinion on this?
Remember to support all views and opinions. Please stay within the word limit (151 to 500 words).
This is due on 1st April 2013.
All the best.
Mr Brandon Tennakoon
Population ageing is a phenomenon that occurs when the median age of a country or region rises due to rising life expectancy and/or declining birth rates. Population ageing is unprecedented, without parallel in human history—and the twenty-first century will witness even more rapid ageing than did the century just past. Population ageing is pervasive, a global phenomenon affecting every man, woman and child—but countries are at very different stages of the process, and the pace of change differs greatly. Countries that started the process later will have less time to adjust.
ReplyDeletePopulation ageing affects each aspect of human’s life, especially economic aspect. The main impacts of ageing population on economy are increase in dependency ratio, increase in government’s spending on health care and pensions and another impact is shortage in workforce. All these impacts create the problem within the young population which is the raise in taxes and nowadays the situation is getting worse, especially in such countries as Australia, Canada, New Zealand, England and Japan. For example, Australia is widely viewed as having a progressive tax on individual incomes. However, the rate schedule of a country’s income tax system is set not solely by the schedule of rates applying to personal income but also by the design of income tests for benefits, exemptions, credits and offsets. In England this ageing population trend is being made worse by the inevitable retirement of the so-called baby boom generation over the coming decades. The baby boomers were born during a period of rapid population growth and social change between 1946-64, with 17m births recorded in Britain alone during this period. Those born at this time are now beginning to reach retirement age and are set to have a dramatic effect on the people, society and the economy of Britain.
There are currently 4 people of working age supporting each pensioner in Britain, by 2035 this number is expected to fall to 2.5, and by 2050 to just 2(How will Britain deal with an ageing population, n.d.)
In my opinion government has to increase taxes to provide all needed stuff for the ageing part of population, healthcare and support, likewise young population may disagree with it, and most of them do disagree with it. The main issue which appears is that why do we need to pay to help someone to survive, why do we need to work for somebody who is not able to work and pay us back. I think that it is not a big deal to help old people to live and to enjoy their life at least happily ,in the warm place, not hungry and with support from the government, from us, because probably in the future we will need this support from the next young generation. Who will help them if not us?
References
How will Britain deal with an ageing population? (n.d.). 21st Century Challenges - Royal Geographical Society with IBG. Retrieved from http://www.21stcenturychallenges.org/focus/britains-greying-population/
Dear Mariya,
DeleteIndeed, who will help them if not for us. We will all get old one day and we all hope that, at some stage, our children will be there to take care of us.
Very few people will be willing to support the idea of increased taxation when they do not see the benefits for themselves.
Keep up the good work.
Mr Brandon Tennakoon
I would like to comment about whether it is unfair for younger workers to be taxed more to support the needs of an aging population or not according to my research and opinion. Many older adults remain highly self-sufficient. Others require more care. Because the elderly typically no longer hold jobs and finances is a big challenge for them. According to the research that I found from http://cnx.org/content/m42880/latest/?collection=col11407/latest Knowledge and Building Communities, many people in the USA grow older once meant living with less income. In 1960, almost 35% of the elderly existed on poverty-level incomes. A generation ago, the nation’s oldest population had the highest risk of living in poverty. In order to reduce those, younger are taxed to support the needs for them. For eg, according to the newly announced law called Obamacare takes effect, the rule will force insurers to hike rates for 18 to 24 year olds by 45 % even as rates for those 60 and older drop by 13 percent in most states,. That means a 22-year-old waitress paying $20,67 for her health insurance will have to fork over $ 3,000 when Obama care takes effect. Some are arguing on that statement that it is not necessary to pay taxes for older people whereas others agree. In my opinion, I both agree and disagree. Old people should get support by taxing young people. When a old person has finances problem, it can lead him or her to health and mental problems such as suicide. These happen because old people are lacking support of finance from their family and they cannot carry on with their jobs. Thus, they will surely need financial support and young people should provide them by paying tax for them. On the other hand, young people should not be taxed a lot too for aging population. There will be some young adults who are struggling for their own professions. Those kinds of people should not be taxed a lot. It is true that we need to support our elders but we should not force people who cannot afford well to pay tax. In conclusion, it is not really unfair for younger workers to be taxed to support the elders but on the other hand, it might be troublesome for those who are struggling concerning with financial problems.
ReplyDeleteDear Phyo,
DeleteUnfortunately, most would not be agree to pay higher taxes voluntary. Governments, to be equal, will enact a law that makes it compulsory to pay higher taxes.
There would be a need to help those who cannot affort to pay higher taxes.
Keep up the good work.
Mr Brandon Tennakoon
“Some raises their negative perspectives towards the taxes young workers are supposed to cover ageing people’s needs”
ReplyDeleteI completely disagree with it, though it may have some effects on some aspects of the society.
Population ageing is a phenomenon that occurs when the median age of a country or region rises due to rising life expectancy or declining birth rates(1) . It occurred initially in the country where the economy is more developed but now has been widespread to the less-developed economy countries. According to a statistic of UN, the number of ageing people would be doubled in 21st century compared to the previous century. Moreover, the consequences of this phenomenon could affect vastly the economy of the nations .
Stating once again, the vast impacts of ageing population could the decline in economy. First of all, increase in dependency ratio (percentage of people who are ageing in the population) would push up the money government must give them as pension and they should not pay too much for income taxes for the government. Combination of these two elements could be an obstacles for the government. Furthermore, less young people means there could be a shortage in the labor force which is the important elements for the economy. Furthermore, an vast increase in young-dependency ratio results to a gap in government budget, health care systems , services should be set up and suitable insurances must be provided for them.
All elements above interpret the large amount of budget the government should cover. There solution should be to tax the young workers on their wages monthly in order to be able to cover the benefits that the ageing people should be taking. Nevertheless, it totally makes sense and young people must be responsible for this duty . Firstly, we should consider the term of ethics. Those young workers to be qualified must be well-education and brought up by ageing people. Who are they, they actually can be young people’s parents or ageing family relatives. During the time young people grow up, those ageing people must sacrifice a lot when they were younger , not only money , but also all their lives. In term of taxes or economy as well, young people pay taxes for ageing people as it is just a common sense. Ageing people or older people as well did not directly educate young people to be a worker but they must pay taxes for the government to set up schools, institutions, universities.. for young people to study (qualified to be a worker later on) when the ageing people were younger. Moreover, when the ageing people gave birth to the young people (who is the young workers later on) , they also get child benefits from the government. For instance, in Germany, most of parents who report to the government their income is not able to cover children’s education do not need to pay for the children aged below 22 ( depends on the major in university). Then, no children would be un-educated or qualified . Where the government get money from? It is certainly from the taxes they charge the other workers. Think, is it unfair for the workers that time they must be charged for other people’s children who will be supposed to be taxes for them later when they get older. These children later will be the young workers. It seems to be like a big circle actually.
All in all, young people should take the responsibilities to be taxed for the ageing people. Ageing people are not supposed to be “ageing employees” for the rest of their lives after a whole life full of tiring.
References:
Impact of an Ageing Population - Economics Help. (n.d.). Economics Help - Helping to Simplify Economics. Retrieved from http://www.economicshelp.org/labour-markets/ageing-population.html
(1) Definition of ageing population : Population ageing. (n.d.). In Wikipedia, the free encyclopedia. Retrieved March 27, 2013, from http://en.wikipedia.org/wiki/Population_ageing
Dear Hoang Tu,
DeleteIt is the responsibility of the next generation to provide and care for the previous generation. Without this increase in taxes, government cannot provide adequately for all services.
Keep on writing.
Mr Brandon Tennakoon
This comment has been removed by the author.
ReplyDeleteReferences
ReplyDeleteEffects of low growth & aging population not fully grasped: K Shanmugam - Channel NewsAsia. (n.d.). Channel NewsAsia - Latest News, Singapore, Asia, World and Business News - channelnewsasia.com. Retrieved from http://www.channelnewsasia.com/stories/singaporelocalnews/view/1235229/1/.html
Learn to live without expecting people to always have to be there for you, sometimes all you need is. (n.d.). Quotes and Sayings - Search Quotes. Retrieved from http://www.searchquotes.com/quotation/Learn_to_live_without_expecting_people_to_always_have_to_be_there_for_you%2C_sometimes_all_you_need_is/441380/
Tax increase due to aging population? (n.d.). The Norway Post – Your latest news from Norway, Norway News in English,. Retrieved from http://www.norwaypost.no/index.php/news/latest-news/24069
Carrenia Cahyadi
Senior Class 1
"it is unfair for younger workers to be taxed more to support the needs of an aging population"
ReplyDeleteThe rate of aging population is expanding fast in many countries particularly in many MEDC (More Economically Developed Countries). This has caused a concern for many government and usually government take a very simple action to raise the burden of tax on the working population to fund the expenses of this expanding aging population. This means that government’s expenditure is increasing but there is no extra expenditure spend by the government as they simply earn more revenue by taxing the working population more.
The rise in the percentage of aging population over the total population of many countries has caused lots of problems, such as
- Economic problems
- Healthcare issues
- Crime rates.
One of the aspects in economic problems is the increase of burden of tax on the working population. As only the working population is able to contribute to economic output, hence all the needs and necessities of the aging population is being burden to this working population.
In a community where more than 20 per cent of its residents are senior citizens, the importance of having good facilities for the elderly is more important than ever, especially as Singapore faces a rapidly ageing population. (channelnewsasia.com,2012)
Mr Shanmugam said: "I don't think the implications of that have been fully internalized within our society. I think by 2030, we're only going to have, if projections are accurate, two persons working to support one retired person. (channelnewsasia.com,2012)
Several financial experts have concluded that Norwegian taxes must be raised by up to 12 percent to counter the costs of the nation's increasingly aging population. (Thor Steinhovden,2010)
It is clearly unfair for the younger worker to be taxed more to support the needs of the aging population. This is because the availability of the saving schemes or pension’s savings should be enough for the aging population to fund their old days. From my point of view, people should be independent of their selves. It is important to each people to be able to take care of his/her own life.
Tax is actually the amount which people are paying to the government for the public facilities the people are using, whereas, the expenses which is caused by the aging population does not have any relation with the working people. These expenses do not benefit the working population in anyway. This is why I am saying that the expenses due to the aging population should not be incurred to the working population.
The possible solution for the government instead of raising the tax could be encouraging the people to start saving their money as early as they start to earn. The saving scheme can be written as a law, for example a working man should save at least 15% of his total income for the pension scheme and in addition the employer should also contribute about 5% of the employee income for the pension scheme.
This is a very effective scheme as each people will be independent of himself/ herself. On the other hand, lower tax rate also means that working population are encouraged to work harder as they think that they will earn more. This is cause an economic growth in the national output and income.
In conclusion, I think the government should Not raise the tax due to the aging population as it will train people to be more independent and without raising the tax, economic growth will occur.
Learn to live without expecting people to always have to be there for you, sometimes all you need is you, just have to believe in yourself.
Blaze Olamiday quotes
Carrenia Cahyadi
Senior Class 1
Dear Carren,
DeleteYes... it is prudent to encourage all to save for their old age. If not, the burden of increased taxes can be too heavy to bear.
Good points.
Keep it up.
Mr Brandon Tennakoon
It is unfair for younger workers to be taxed more to support the needs of an ageing population.
ReplyDeletePopulation ageing is a phenomenon that occurs when the median age of a country or region rises due to rising life expectancy and declining birth rates. An ageing population means there is a greater percentage of the population over the age of 65.
Today, the earlier Baby Boomers are entering into retirement age. Because of this there will be an increase in the aging population. There are several issues and challenges the aging population will face: health issues, crime victims, and moreover is economic problems.
Now, I would like to talk more detail about economic problems. The first is a high old-age-dependency ratio. It means more ageing people will have more benefits such as many retirees and less people working. Thus, a high dependency ratio means the workforce will face greater pressure in providing for the economy in terms of taxation and economic output.
Besides, spending on healthcare and pensions are also increasing. For instance, DCs (Developed Countries) with an ageing population mean providing subsidized healthcare. LDCs (less developed countries) with high young dependent ratio will have needs such as healthcare and sanitation. Also, they in retirement tend to pay lower income taxes because they are not working. More important is a shortage of workers. Because of a high old-people rate and a low young-people rate, they lead to a shortage in labor for factories and companies.
I completely disagree about the unfair for younger workers to be taxed more for ageing population. Nowadays, younger people are educated with a good environment by the money from their parents and the parents have to pay taxes for their studies in most of countries, such as: America, Australia, and Canada. In addition, in terms of ethics, young workers must be supposed to take the responsibilities to their parents, such as, take care them and be charged taxes for their parents are also need.
In conclusion, it is not unfair for young people to be taxes for ageing people at all. The government should even double the taxes for them to ensure they provide the better services for the young-dependent people.
References:
http://www.economicshelp.org/labour-markets/ageing-population.html
http://en.wikipedia.org/wiki/Population_ageing
http://business.financialpost.com/2012/04/04/aging-population-to-affect-economy-boc/
Dear Nga Do,
DeleteHmm... your argument sounds very familiar.
Being more educated than the previous generation, the younger generation needs to step up to the plate and shoulder more of the burden and accept higher taxes being imposed on the.
Mr Brandon Tennakoon
It is unfair for younger workers to be taxed more to support the needs of an aging population.
ReplyDeleteFirstly, the mind- sets of young adults fresh out of school and into the working environment is to earn money either to cover their personal expenses, basic necessities, to save up for their future, or even to support their own family.
As young adults are generally considered to have more strength and energy, compared to the middle or old-aged working population, it seems natural that they should be able to cope in longer working hours, provided that they get compensated according, such as getting over-time salary. But as a working individual, it is believed that we usually earn as much income as the amount of effort we put into each job. For example, if an individual is being paid five dollars an hour, he/ she will be able to get sixty dollars a day for working a total of twelve hours a day. But at the end of the month, when a part of the salaries of young individuals are being taken away in the form of taxes, more than what is taken from a middle or old-aged individual, to support the needs of an ageing population, will this be fair? Young workers from poor families may require all their hard- earned money to support their families, but instead, a part of it is taken to support the needs of other elderly people.
In my opinion, it is definitely unfair for younger workers to be taxed more to support the needs of an ageing population. It is the responsibility of the people of a nation to be supporting their elderly population, and every working individual should play an equal part in it.
Loe Yong Sheng Shauon
Foundation SR Class 1
Dear Shauon,
DeleteIndeed. We cannot ignore the fact that not all young people will earn a lot of money. In fact, many earn just enough to cover their daily expense. Some have to provide care for their aged parents and increasing taxes will just burden them unnecessary.
Good points.
Mr Brandon Tennakoon
As I know most of the people consider that the younger worker to be taxed more to support the needs of an aging population is an unfair condition. But in my point of view. It is fair for the younger worker to be taxed more to support the aging population.
ReplyDeleteChina is a country which has the highest aging population rate. The second country is America and the third one is India. Here are two main reasons to create the high aging population rate. The first reason is the living standard of that country had been improved and people become rich. They own the better environment , medical equipment. So that, they can have longer life than before. But the aging population rate will be increase follow this condition. This reason of high aging population rate always appear in developed country. The second reason is always appear in developing country. Here is an example, China has a one child rule. This rule lead a huge problem between this few years. The one child rule means one child has to support 6 elder in the family. They need to support their parent and also need to support the parent of their father the parent of their mother. If the young people want to get marry. That mean the couple have to face 12 elder. So that is the reason why china is the country which has the highest aging population. When we face this enormous problem we know we have to change. Many of the elder cannot enjoy their elder life. Although the government give them the pension. But as we know, the pension which given to the elder is not enough to support a high quality live to them in this “expansive world”. Many elder unwilling to go to hospital when they unfeeling good. Because they cannot afford the high medical cost. Their pension just can support their daily life.
However, we enjoy everything that this modern world given to us. But we cannot forget, this modern world is created by our parent and by the elder. This modern world cannot without their strived. Whatever most of you unwilling to paid the high taxes to support them. But they are getting old now. They worth to get this benefit back by given us a modern world. In addition, we also will become elder. Treat them well equal to treat our self well. So, why not?
Dear Jiefei,
DeleteRemember to cite.
Also, our comfortable lifestyle is the result of our parent's hardwork.
Continue to write to improve.
Mr Brandon Tennakoon
This comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteToday the problem of population aging more serious and important issue of support for the elderly falls on young people, by increasing the tax on young people to deal with the problem of an aging population, I think it is unreasonable, surely every country ispension insurance, what is the significance of the pension insurance? The significance of the pension insurance for old people to secure life after retirement.Many companies will help pay pension insurance , if want to make life better after retirement,old people need pay additional pension insurance.
ReplyDeleteAt present,the situation of young people, most of the important positions are the elderly in the company, young people who majority still struggle for higher office.So their income is less than the old people,and less work experience, salary is not very high.Young people learning and training need spend a lot of money.Their funds vacancies,so it is difficult to pay additional taxes on the young people.Of Course we should concern and love old people, we can concern and love to the parents in the New Year or festival, a red envelope that contains the love to parents.
Finally, I think to solve the fundamental problem of the aging population is to improve people's moral standards, rather than raise taxes on the young people.and the government should vigorously recognition of the moral model,and the mass media should also be driven by public opinion to recognize the moral model and driven by the community as a whole to learn to honor their parents love the atmosphere of the elderly.In addition, some elderly dont have children, the government can through social welfare activities to raise the money for them.
fanrui
senior class 1
Dear Fan Rui,
DeleteRemember to do in-text citation.
Interesting suggestion. Improving the morals so that people will be obliged to take care of their parents.
Unique point.
Mr Brandon Tennakoon
I would like to comment about It is unfair for younger workers to be taxed more to support the needs of an aging population. Before I comment this issue, I'd like to explain what an aging population.
ReplyDeleteAn aging population refers to the total population for the decrease in the number of young population, older population increase in the number of elderly population proportion corresponding growth dynamic. Usually take over 60 international population proportion reached 10%, or 65 - year - old population proportion of the population has reached more than 7% as a standard of country or region into an aging society. Two meanings: one refers to the elderly population is relatively increased, in the process of rising as a proportion of the population; Second refers to the social population structure appear aging condition, into an aging society. International usually view is that when a country or a region, constituting 10% of the total population of elderly people aged 60 or older than 65 old people constituting 7% of the population, which means that the population of the country or region in the aging society.
Nowadays, World population growth rate increases year by year, the aging population growth rate is becoming more and more high, this indicates that many countries are going to become aging countries, but the question is, if a nation's elderly population too much labor force becomes less and the economy will fall, so if country don't want to economic slide, so young people will fill the gap old people can't work, another way of saying that, young people are going to pay more taxes for the elderly. In my opinion, i think is unfair younger workers to be taxed more to support the needs of an aging population. Because the population is very much, a lot of young people have no jobs, and the undergraduate of income is not high. Such as China, China has a population of more than 1.3 billion, it accounted for a quarter of the world's population, the population of 1.3 billion will be a half of the young man couldn't find a job, and one more thing, now China executes family planning, each family is allowed to have only one child, this means that a child to support four parents, so if the government want to collect more taxes from young people, the government will improve the chances of employment and wages.
Yang kai wen (Kevin)
Senior Class 1
Dear Kaiwen,
DeleteRemember to do in-text citation.
It would indeed be problematic for the country if the citizens do not have jobs.
Mr Brandon Tennakoon
I would like to comment about whether it is unfair for younger workers to be taxed more to support the needs of an aging population or not, Population ageing is a phenomenon that occurs when the median age of a country or region rises due to rising life expectancy and/or declining birth date. There has been, initially in the more economically developed countries ( MEDC ) but also more recently in LEDCs ( less economically developed countries ), an increase in the life expectancy which causes ageing population. For the entirety of recorded human history, the world has never seen as aged a population as currently exists globally. The UN predicts the rate of population ageing in the 21st century will exceed that of the previous century Countries vary significantly in terms of the degree, and the pace, of these changes, and the UN expects populations that began ageing later to have less time to adapt to the many implications of these changes. Population ageing is a shift in the distribution of a country's population towards older ages. This is usually reflected in an increase in the population's mean and median age, a decline in the proportion of the population composed of children, and a rise in the proportion of the population that is elderly. Population ageing is widespread across the world. It is most advanced in the most highly developed countries.
ReplyDeleteIndeed, as government are forced to raise taxes to pay the costs of ageing population, younger workers may well put even less aside for their own retirements, reinforcing the severity of the hardship they will face when they eventually reach old age themselves and this is why it shows an unfairness for younger workers to be taxed more to support the ageing population.
Dear MongTao,
DeleteYoung people will suffer when they have to pay more in taxes as currently, they hardly have enough money to set aside for their retirement savings.
Mr Brandon Tennakoon
"It is unfair for younger workers to be taxed more to support the needs of an aging population"
ReplyDeleteWhat is aging population? Population ageing is a direct consequence of the ongoing global fertility transition and of mortality decline at older ages, population aging is expected to be among the most prominent global demographic trends of the 21st century. Population aging is progressing rapidly in many industrialized countries, but those developing countries whose fertility declines began relatively early also are experiencing rapid increases in their proportion of elderly people.
This pattern is expected to continue over the next few decades, eventually affecting the entire world. Population aging has
-Many important socio-economic
-Health consequences
-The increase in the old-age dependency ratio
It presents challenges for public health concerns over possible bankruptcy of Medicare and related programs as well as for economic development.
One of the factor which impact and affect to seek to the aging population that is economic. Related to the topic which mentioned that is nowadays younger workers to be taxed more to encourage the needs of the aging population, the government play an important role in this situation which contribute the money.Besides, it is unfair for younger to be taxed more, everyone have their ability in earning money, even how old they are, they should know how to live by themselves in stead of using other’s money taxed.
"We must commit to ending the widespread mismanagement of ageing"
-Richard Blewitt, chief executive of HelpAge International, which collaborated on the report, Ageing in the 21st Century-
In the solution how to solve the problem of younger workers’s tax, by the government should establish the new rule for taxing, to contribute and balance the money in stead of using for the needs of aging population.
To conclude, it really unfair for young workers nowadays that they have to pay more tax, that’s why we have to stop the aging population to control the economic of the country.
Pham Hoang Mai( Lian)
Senior Class
References:
http://www.economicshelp.org/labour-markets/ageing-population.html
http://en.wikipedia.org/wiki/Population_ageing
Dear Lian,
DeleteTaxing the young people more will allow the government to replenish the money in the coffers.
Mr Brandon Tennakoon
Part of your money is taken away from you to support the aging population, in other word old people that you do not know . Ethically this is the right thing to do, but in this modern world while some people cannot afford to live by themselves or support their own family, the fact that they need to pay for other strangers too needs to be reconsidered. I call unfair on this one.
ReplyDeletePopulation ageing is a phenomenon that occurs when the median age of a country or region rises due to rising life expectancy and/or declining birth rates (Wikipedia). Developed countries are more likely to face this issue as their life expectancy are often longer than developing countries, which bring them other economic-related problems like: dependency ratio, health care system and crime rates. In order to solve these problems, the government has decided to raise their tax for young worker to pay for the needs of the aging population ( healthcare facilities, nursing home…). This can be a government’s wrong move for various reasons.
Firstly, it will encourage negative attitude among the workforce. Some might work very lazy thinking someone will pay for their needs later when they get older. Some may feel not sastisfied looking their money got taken away, hence will try to work in other countries or even wors: tax noncompliance, a form of crime. Either way, it will greatly affect the country’s productivity as their workforce’s attitude is unstable.
Secondly, old people have their own support source other than young worker’s tax. It can be their family, relatives or even themselves. With not much life’s requirement, their family can easily support them with an appropriate ammount of money, which is also a responsibility that they need to take care of ethically. If somehow the family cannot afford their needs, old people can still do some soft jobs like shop assistant, securities (small shop or business), cake-baker… which I am sure they would rather do than sitting around in nursing home.
The last thing I would like to mention is their own savings when they were younger. People tends to have their own fund to pay for their needs when they can no longer work anymore, recommended from 5-15% of their earning. In that way, with a reasonable healthcare system, old people can independently afford their lives without having to rely on other people especially stranger young worker, which will also leave them a chance to funds their own saving too.
“The most courageous act is still to think for yourself. Aloud.” – Coco Chanel (famous fashion brand founder)
Dear Mic,
DeleteThank you for the varied points you have provided.
There is a concern that older people will not work as hard because they know that others will be supporting them financially when they are old.
Mr Brandon Tennakoon
I would like to comment about it is unfair for younger wokers to be taxed more to support the needs of an aging population. What is aging population? Aging population is a phenomenon that occurs when the median age of a country or gegion rises due to rising life expectancy or declining birth rates. Now the number of older people is expanding faster than the number of young which means that the cost of keeping our aging population’s health and our of poverty is getting high. . Becoming an elder means that you are not be able to handle a job, you can only depend on your pension. There are a few impacts of an aging population. Firstly is increase the dependency ratio which means more people will depend on the labour force as the labour force need to pay more tax. Secondly, increase government money on health care and pensions. Finally is the labour force have to pay higher and more taxes to support the needs of an aging population. In my opinion, I do not agree that the young have to pat more taxes for the old, I think they just need to pay for their parents only because that is not fair for them to pay higher taxes that they might be not able to handle their family. For the conclusion, it is so unfair for younger to pay more taxes and I think the government should increase participation rate that make it easier for people who past 65 to keep working so that the elder can have their own income and can continue their life without asking for help.
ReplyDeleteTran Minh Anh
Foundation Senior Class 1
Dear Minh Anh,
DeleteRemember to do in-text citation.
The labour force will have to pay more taxes to support the aging population.
Mr Brandon Tennakoon
SAMAYASAR JAIN: Ageing population means the number of old people who are in the majority group, and number of young people who are in the minority group in a specific country or a county. Firstly we cannot blame the older people for not working because it is a matter of physical health issue. And secondly I would say in my opinion that, the younger workers must take full responsibility for the basic and all the complete needs of their family members especially their parents, grand parents and great grand parents! Then once they are sure that their entire family members and relatives are financially and basically safe, then thirdly they must be very sure that they too have enough affordable amount of money for themselves and then finally come to the decision of whether to spend more taxes in order to support the ageing population of their country or county. Thus, even after looking after the complete needs and the basic needs of their entire family, if the young workers feel that they can afford to pay extra taxes in order to support the other older people in the ageing country, then definitely they should! But if they have the money to afford and look after only the members and relatives of their family and not the others, then obviously no one in this Material World has the right to force them to pay extra taxes. Therefore, in my opinion if I were asked this question, I would suggest and say that it all depends after all. So what I mean is that, all the youngsters in an ageing population country who are millionaires, billionaires and trillionaires should have a big and a huge heart to voluntarily pay extra taxes in order to help and support all the other older ageing people who live in the country. So finally I would like to conclude by saying that, it is indeed fair for all millionaires, billionaires and trillionaires to pay extra taxes in order to look after the old people in an ageing population country. But it is not fair to force the middle class families to pay extra taxes even though they are living in an ageing population country because, first preference always goes to their own God given family! But to conclude in a Moral way, I will suggest that all youngsters throughout the Universe must look after all the old people in the Universe in order to be true and pure hearted human beings! Samay Jain! Senior Class 1.
ReplyDeleteDear Samay,
DeleteThe rich should be taxed more than the average worker and the government must encourage the young to support the elderly.
Mr Brandon Tennakoon
It is unfair for younger workers to be taxed more to support the needs of an aging population.
ReplyDeleteWhat is your opinion on this?
As populations worldwide are growing older, where low fertility and ageing populations are replacing high fertility and youthful populations. A declining old-age support ratio points towards an increasing tax and economic burden on the working-age population. A shrinking and ageing population could also mean a less vibrant and innovative economy. A solution to this would be either taking more from earlier generations, raising the contributions of current public sector workers or lowering the payouts to retirees.
From my point of view, I think it is fair for younger workers to be taxed more to support the aging population because nowadays, many jobs are offering more places for younger workers rather than the old ones since young people are more active and enthusiastic than old people so companies and other working places hire young workers rather than old workers which lead them to have difficulties in paying taxes to the government since they got no jobs and no income to pay so it is completely fair for young workers to pay more taxes to support them since they are earning much more than old workers.
In conclusion, governments should tackle higher aging population by having more adult workers to pay more taxes and reduce unhealthy conditions. If these measures are taken, I believe that the increase of retired people will have less impact in most developed countries.
‘‘I am not afraid of aging, but more afraid of people's reactions to my aging.’’ (Barbara Hershey )
May
Senior Class 1
Dear May,
DeleteThere is a trend among most employers to actively recruit younger workers and ignoring older workers.
From this perspective, it is ok for the young to pay higher taxes.
Mr Brandon Tennakoon
Yes I think it is unfair for younger workers to be taxed more to support the needs of an ageing population because most of the younger workers nowadays do not make so much money and most of their money will go into taxes. Also the government has increased spending on health care and pensions. Those people in retirement tend to pay lower income takes because they are not working at all. Also an ageing population means that there is a greater percentage of the population over the age of 65 and there will be an increase in the dependency ratio that means there will fewer younger workers which will not be able to support such a huge ageing population. So the younger people will have to pay more taxes. Also if there are few younger workers, there will be a shortage of workers so this will cause the wages to go up and there will a wage inflation.
ReplyDeleteDear Chirag,
DeleteGood attempt at answering the topic.
Remember to include in-text citation.
Also, you need to have more points to support your arguments.
You seem to be going around in circles.
Mr Brandon Tennakoon
What is an aging population? An aging population is one whereby there is a higher old-age dependency ratio, i.e. more dependants above working age who numerically outnumber the population of working age due to decreases in mortality and fertility rates (UN Population Division, 2002). There are two main points when considering this question that need to be reviewed. Firstly, what are the needs of an aging population? Secondly, how is an aging population viewed?
ReplyDeleteThe needs of an aging population that depend on taxation can be separated into healthcare and financial support. For healthcare, a higher proportion of aged members of society would mean that greater medical attention is needed due to the weakening of the immune system as the human body ages and illnesses set in. Mental disabilities may also occur due to genetic predisposition or abuse endured at earlier points in life. Treating and caring for such illnesses in an aging population would mean that more government funding and subsidies is required, especially for those who cannot afford treatment. Financial support takes the form of pensions, provision of housing, food and other basic amenities required to maintain the right to security that they have in their old age (UN Declaration of Human Rights, n.d.). An aging population would therefore indicate a situation where an increasing number of potential beneficiaries of health and pension funds are supported by a relatively smaller number of potential contributors imposing heavier demands on the working-age population in the form of higher taxes and other contributions in order to maintain a stable flow of benefits to the older groups.
The way an aging population is viewed in a society affects whether or not those taxed with maintaining their social security are amicable to increasing the funding available despite loss of personal wealth. Most developed countries with an aging population experienced rapid economic growth during the second half of the twentieth century and have expanded and diversified their systems of social security and healthcare, improving the standard of living of both the old and the young as populations aged. However, the rapid growth of the older population compared to the younger one strains such support systems, often due to earlier withdrawal from the labour force owing to higher levels of social security coverage, and other factors such as a shortage of employment opportunities and obsolescence of skills and knowledge, add to demands on public pension systems. If a society values the population based on their economic contributions and drains, then its people may view an aging population as one that is not worthy of providing for, and may thus find it unfair if their taxes were raised to support the older population.
An alternate view of an aging population is one where the elders are seen as potential sources of information and experience that can be tapped upon. From an economic standpoint, the experience of the older population can provide an insight into potential economic and industry trends as well as providing a relatively firm foundation upon which to base economic decisions. Perhaps more importantly are the life experiences that they have as their insight into social matters may prove valuable to future generations in making not only economically profitable decisions, but also morally and socially sound ones. Such benefits cannot be quantified, but are nonetheless important in guiding the upbringing of future generations.
Personally, I would feel that an increase in tax levels to support an aging population is a fair move, as long as the increases are within reason so as to not strain the current working population to their financial breaking point. This is more due to the fact that one must consider the contributions made by the elder population to create our current society and standard of living and how they may contribute to the social and moral framework of future generations.
Francis Phang
Senior Class 1
This comment has been removed by the author.
DeleteThe wisdom and knowledge of older people is like a fine wine that gets better with age.
Delete(Pope Francis - Formerly Cardinal Jorge Mario Bergoglio, Archbishop of Buenos Aires)
Sources
Roman Catholic Archdiocese of Singapore (2013, April 7). Cardinal Bergoglio elected 266th Pope. The Catholic News [Singapore], p. 14.
United Nations. Department of Economic and Social Affairs. Population Division (2002). World population ageing, 1950-2050. Retrieved from United Nations website: http://www.un.org/esa/population/publications/worldageing19502050/
United Nations (n.d.). The Universal Declaration of Human Rights. Retrieved from http://www.un.org/en/documents/udhr/
Dear Francis,
DeleteWell written.
You have brought up a diversity of points to support your arguments.
Keep up the good work.
Mr Brandon Tennakoon
Aging population is a shift in the distribution of a country’s population towards older ages. It is demographic revolution affecting the entire world and happening in all regions and in countries at various levels of development. In today society, most people think that it is unfair for younger workers to be taxed more to support the needs of an aging population. However, in my opinion I think it is fair enough.
ReplyDeleteNowadays, there are many jobs with the high income are prefer younger people than older people because young people more active. Thus, mostly old people is jobless, even they get a job is with those low income only. So, for their daily life and medical fee they can depend on pension, which get from government especially for those old people that don’t have support from children.
In conclusion, I believe that it is fair for younger workers to be taxed more to support the needs of an aging population. And I am willing to be taxed for them even they are not related to me.
Reference: Population ageing - Wikipedia, the free encyclopedia. (n.d.). Retrieved March 31, 2013, from http://en.wikipedia.org/wiki/Population_ageing
Population Ageing: A Largerand Older Population: Population & Development : UNFPA. (n.d.). Retrieved from http://www.unfpa.org/pds/ageing.html
Dear Kim,
DeleteKeep it up.
the young who have jobs can afford to pay higher taxes and therefore, should be made to pay more.
Mr Brandon Tennakoon
It is unfair for younger workers to be taxed more to support the needs of an aging population.
ReplyDeleteMost people think it is unfair for younger workers to be taxed more to support the needs of an aging population but for me, I think it is acceptable and reasonable and fair. Firstly, aging population means there are an increase in the number of elderly people who are over 65 years old and a decrease in the number of young people. Usually aging population happen in develops countries and almost every body thinks that it’s effective to counties economies. The more elderly people, the bigger a mount of money are spent on public healthcare. Moreover, it is the effect of increased life expectancy or per capital healthcare costs and it implies that as the life expectancy lengthens, total healthcare costs are also likely to rise. However, these old people had been served for the country and her economies for approximately 40 years. As they are getting old, their body and mind are no longer be that fresh and active like young people. Even though they have great experience, they cannot work anymore. Older people can also help to maintain and contribute countries tradition, culture and religions for the further generation by passing down their knowledge about these to the young people. After retirement, most old people have a lot of time on their hands to contribute to society. On the other hand, just like us, young people, might have more great idea and thoughts for the current economies according to our century and can able to work harder than the retiree. Countries have been developed because of these older people. For us, young people just have to work to sustain countries development. So, as we are so thankful to them, we should pay some taxed more to support their needs. In some countries, hospital and healthcare costs are very high. In this case, some old people who do not have much money may not be able to afford the costly medical treatment after a certain point in their life. So, for the government, they should try to know whom really need some help as medical fees and government also should try not to pay any medical fees for the rich retiree and whom can be supported by their children. Therefore, young people will not be argue or disagree to pay taxed more if government do the exact things like I say.
So, as a conclusion, I think the young people to be taxed more for the elderly people will not be a big problem.
Senior Class,
Eint Myet Thwai.
Dear Myet Thwai,
DeleteI like how you mentioned that old people have contributed to the maintenance of culture and traditions.
Also, governments should only help those who cannot afford medical attention. The rich, who can afford it, should not receive any help.
Remember to do in-text citation.
Mr Brandon Tennakoon
According to The Encyclopedia of Population, Paul Demeny and Geoffrey McNicoll (Eds.), New York, Macmillan Reference USA, 2003, "Aging of population is a summary term for shifts in the age distribution of a population toward older ages.” People of age’s 60- 65years old or older are considered as part of the aging population. Tax is a compulsory contribution to state revenue, levied by the government on workers in come and business profits. Anyone
ReplyDeleteIn my opinion, I do not think it is unfair for younger workers to be taxed more to support the needs of an aging population. I say this because, most old people would have retired and the ones, who are still working, may not necessarily be working a high salaried job; at their age and the money they receive will go to their utility expenses and medical expenses. As one gets older, one may have more health issues and thus, medical expenses increases. With such expenses, how will a person, who is old and has already retired, pay them? The best option is to get some help from the government. The government also manages to help them by taxing the younger workers. It is illogical for young workers to complain about being taxed higher than the aging population because, they are forgetting that they will soon be part of the aging population, and they will only understand their situation once they are at their age with having to make ends meet, especially when it is not easy to land a high salaried job at an old age.
Dear Yash,
DeleteIndeed, one must walk in the shoes of others before giving judgment.
The young must remember that one day, when they grow old, they too would need help from the government.
Well done.
Mr Brandon Tennakoon
Samuel Cheng En Chin -FPS1
ReplyDeleteAging population is one significant problem that facing by many developed countries, it causes a lot of social problems. One of the problems is the tax, the burden of younger workers has been increased as the taxes turning higher and higher in order to support the needs of retired and poor old people. Those younger are paying tax to the government and the government uses those money to help the old people whom they do not know them.
In the perspective of younger, it is unfair as they are using the money that they earned uneasily to help strangers even they are not willing to do that, they are forced to do that. Younger might need those money to help their own family members but not the strangers.
In the perspective of benefited old people, they could have an easier life with the subsidies and facilities that provided by government. A phenomenon occurs in developing and developed countries, the younger leave and abandon their parents and let the old people live independently. The elders might have a lot of health problem after they are retired, they are using the money that they saved to maintain their life. The subsidies and facilities that provided by government are necessary and needed.
In my view point, the subsidies should not be stopped providing but it should be controlled in an appropriate amount with some limitations such as the subsidies should only be provided to those old people who really need it. The government should be more focusing on educating the younger to be responsible with take care of their parents and some laws which can help to improve this phenomenon should be founded.
Dear Samuel,
DeleteRemember to include in-text citation.
Education can play and does play an important role to inculcate the responsibility of caring for the old both physically and financially.
Well done.
Mr Brandon Tennakoon
Aging population is a great issue for a country. It is not a problem that we can solve easily just by putting higher tax for young workers. By doing this, they will just create another problem for the younger people. According to therichest.org, the average middle class income in United States is between $36,000 to $57,000 per year. Their income can barely support all members of the family, and the government is charging them higher tax to support the aging populations that they don't even know. Yes, this solution may benefit the aging population, but what about those young workers who work extremely hard? They will be broke if the government keeps charging them high tax. And how are they going to support their family? They still need to buy basic needs everyday. This may result to crime, they are forced to do it in order to survive. And this may cause the crime rate to increase, which is a serious problem as well.
ReplyDeleteIn my opinion, the government, instead of dealing with broke old people who cant support them self by "stealing" young people's money. They should deal with the cause of it. Maybe they didn't have retirement saving and plan while they were still working. If the government wants to minimize this aging population issue in the future, they should make a system for young workers to save a certain percentage of their income for their retirement saving. But in order for them to save good amount of money, the government shouldn't charge them high tax. So in the future when the young workers don't work anymore, they will have enough money to support their life. But what about the current aging population? I think the government should be willing to lose some money to support the current aging population, because in the future they are for sure to regain the money, because in the future the aging population can support them self.
Those are why I personally think that putting more tax to young workers to support the country's aging population is unfair. The government is only dealing with the effect of the problem by charging young workers high tax to support old people, not the cause of the problem which is the non awareness for the importance of retirement plan. If the government can develop a good system that deals with the cause of the problem, then this aging population problem will decrease in the future.
Nicholas
Senior Class 1
Dear Nicholas,
DeleteYes, instead of just taxing the young and increasing their burden, governments should deal with the root cause of it.
Enforced savings can help one to build up their nest egg when they are younger such that there is sufficient funds for when they grow old.
Well done.
Mr Brandon Tennakoon
An ageing population can be defined as a population in which the number of elderly (65+) is increasing relative to the number of 20-64 year olds. This problem is usually seen in developed countries with high cost of living resulting in young adults to pursue their career to even before thinking of marriage and having their own family. This is a result to the severe costs of raising an infant and even though countries have schemes to increase the birth rate such as financial aids from the government but these schemes has not changed peoples mind set. A problem of a ageing population would also mean that the younger workers would be taxed more to support the needs of an ageing population which is fair to a certain extent because the elderly needs a lot of support such as medicare and so on. Government spends billions every year on the elderly support programs or another solution is to tax the current workforce a quite substantial but affordable amount and prohibit them from have access to these accounts to a certain age to make sure their life after retirement is well taken care of, in other words the government would be like making a life time savings for the future for the current work force which would also be beneficial to the government since they would not have to allocate so much budget on healthcare subsidises itself.
ReplyDeleteSources
http://www.unescap.org/pdd/publications/apdj_10_1/horlacher_mackellar.pdf
http://www.population-europe.eu/Library/Glossary.aspx
Bryan Guan
Senior Class 1
Dear Bryan,
Deletethe government needs to be prudent and manage their finances well.
If there is a need for tax increases, governments should ensure that the rich are taxed more than the poor.
Well done.
Mr Brandon Tennakoon
It is unfair for younger workers to be taxed more to support the needs of an aging population. First of all I would like to define the meaning of aging population. Population ageing is the most significant result of the process known as demographic transition. Reduction of fertility leads to a decline in the proportion of the young in the population. Reduction in mortality means a longer life span for individuals. Population ageing involves a shift from high mortality or high fertility to low mortality or low fertility and consequently an increased proportion of older people in the total population(Ageing in India). There are 3 factors that leads into population aging. First, Increased longevity means in most parts of the world, people are living significantly longer lives than in previous decades. For the world as a whole, life expectancy increased by two decades since 1950 (from 48 years in 1950–55 to 68 years in 2005-10). During the current half century, the UN Population Division projects global life expectancy to rise further to 76 years. Second, declining fertility means the world’s total fertility rate fell from 5 children per women in 1950 to roughly 2.5 today, and is projected to drop further to about 2.2 by 2050. As families have fewer children, the elderly share of the population naturally increases. The aging of “baby boom” generations means the aging of large cohorts of children born after World War II in the United States – paralleled by similar booms elsewhere at various times – are leading to high shares of elderly people(Program on the Global Demographic of Aging).
ReplyDeleteI disagree to the statement, of course it is fair for younger workers to be taxed more to support the needs of aging population. Tax is use for public facility such as public transportation, hospital, and education, Young worker use more public transportation than old people because young people contribute more economic growth than old people. Young people have to help the old people so old people will get easier life for example good hospital for old people. After that, government should make an education system to teach young people to respect and take care their parents when they old. I know it is unfair for young people to be tax more, because old people will get money easier because young worker. But, young worker can still do their work a hundred percent better than old people.
In conclusion young worker have to be tax more because they contribute in economic more,have more power,energy,and stamina than old people, and cause they use more public transportation and education more than old people.
Reference
Retrieved from http://www.who.int/hpr2/ageing/ageinginindia.pdf
Retrieved from http://www.hsph.harvard.edu/pgda/WorkingPapers/2011/PGDA_WP_71.pdf
Dear Dwiki,
DeleteYounger people should be educated so that they can earn more and can be taught to care for the elderly. This will minimise the burden on the government.
Well done.
Mr Brandon Tennakoon
yes it is unfair for younger workers to be taxed more then older workers. i understand and agree with having a welfare system so the basic needs of the homeless, disabled, aged, retired and those born into more unfortunate circumstances then the majority of the population can be met. all of would like to take comfort in knowing that when we reach the stage where we cant look after ourselves and if we cant depend on our children for support, that the government would do a little at least then leave us to die in misery, especially if we have contributed our fair share into the economy of the country and voted a particular person into presidency. as all of us would like to have that peace of mind knowing the future wont be so bleak, we should all contribute by paying the higher tax regardless of age. after all, we are paying for a better for our parents and grandparents.
ReplyDeletehaving everyone pay a higher tax instead of the young also prevents conflicts between the two age groups created by feelings of unfairness. exempting older people from paying the higher tax would also make them think about the necessity of working, why work when the younger generation is working to pay a tax that makes their lives easier. it will definitely cause the number of early retirees to soar and at the same time, discourage the young from working because they will see that all their hard work is going into the hands of the older generation.
a sustainable welfare system that compromises with both age groups has to be formulated in order for it to not be one sided.
Dear Jay,
DeleteBy extending the tax increases across the board, there would be a lessening of the resentment felt among the younger people. However, the old might feel aggrieved.
Maybe the government can offset some the tax increases for the elderly by providing more benefits.
Well done.
Mr Brandon Tennakoon
by the way mr brandon i dont have any sources because i write it all of the top of my head.
ReplyDelete