Happy to be corrected on the details.
the point stands though. Older people are a large group and they are not all the same.
10-20% at the bottom are pretty low income.
but higher up there are a lot of affluent people.
some just living a comfortable life, own their own modest home, decent pension.
Some especially in the south east very affluent. millions in property large family sized own homes, second homes, lots of boomers are buy to let landlords. But pensions and investments.
and YES I’m saying those second two groups need to pay in more.
as a group the boomer generation is both asset and income rich. The only way to get more funding for better services is to tax there more.
political cowardice and shirt termism and refusal to work across party (which was the idea of Dilnot I thunk
ut then the Tories chickened out).
a wealth tax which includes the value of the home you own is completely standard in some countries eg France. You have to factor in weather you can afford to pay it into whether you keep your home.
it could be a low percentage of value every year, or reforming stamp duty (which is move to a sellers not a buyers tax so at the point of change so those owning now would get taxed again on the asset they have). So older people or probate sales selling family sized houses would pay more tax on property than working families trying to trade up to get the space they need. Or a combination.
id tax final salary pensions and other assets and investments more too.
you’d have to offer changes here as part of a package of better care and support.
the Dilnot cap was aimed at enabling people to keep their homes. But that favours the wealthy. Everyone pays in £80k of costs and keep the rest (those details aren’t right) means a on one with a low value home pays in nearly everything while someone in a £1-2 million home in the south east gets to keep that and pass it on to their children.
which is really unfair.
and lastly YES the right wing press have a lot of answer for here.
they go bonkers when any of this is suggested. And rev people up to oppose it while ignoring how that feeds the problems we have.
the ONLY group that serves is affluent pensioners and those that will inherit from them. As they can afford good quality private care, and get to keep their assets to pass on their adult children.
it sort of serves the middle group too. But enables them to keep their assets in return for shitty care.
but lots of us don’t want to face the reality of old age - there was a thread on here the other week asking about the pitfalls of retiring early. When I pointed out the risk is not having enough money it got shouted down as ‘life is for living’ and ‘not worth worry about something that might happen’
yet most people in their 50s and 60s will need health and social care for a good few years at the end of their life.
but it’s scary and depressing so collectively we put our head in the sand and hope it won’t happen to us.
and when it does it’s too late.