Occupiers should protest wealth transfer from young to old

Published January 18, 2012 5:00am ET



Occupy Wall Street protesters are right that some groups have more political power than others. However, they are mistaken to construe the lines only in stark economic terms (the 1 percent vs. the 99 percent.) There’s another war that pits one class against another and is fully the result of specific government policies: the systematic transfer of wealth from the relatively young (and poor) to the relatively old (and wealthy).

Using data from the Congressional Budget Office’s 2011 Long-Term Budget Outlook, the accompanying chart shows the annual share of the U.S. budget spent on programs benefiting senior citizens from 1970 to 2084.

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