Intergenerational Transfer Quotes

The only reason there is a crisis about Social Security in the US and pensions in Europe and Japan is that you cannot maintain a "Ponzi" scheme indefinitely. We have collected from today's young to pay today's old and counted on tomorrow's young to keep doing so. That was a fine scheme as long as the number of young people was rising faster than old people. When that ratio comes to an end, such a system also has to end.

The work of the youth is a blanket for the old.

Society exists through a process of transmission quite as much as biological life. This transmission occurs by means of communication of habits of doing, thinking, and feeling from the older to the younger.

People planted seeds into me. Older cats gave me the game. My family, especially my mother, gave me the game and I pass it on. That's what it's about. If somebody gives you mental jewelry and you wear it for so long, you want to give it to somebody else for them pass it on.

The myth is that people get their money back from Social Security. Not true. You get somebody else's money back. This is an intergenerational transfer.

Think of what's stored in an 80- or a 90-year-old mind. Just marvel at it. You've got to get out this information, this knowledge, because you've got something to pass on. There'll be nobody like you ever again. Make the most of every molecule you've got as long as you've got a second to go.

Dear young people, let me now ask you a question. What will you leave to the next generation? Are you building your lives on firm foundations, building something that will endure?

When you pay social security taxes, you are in no way making provision for your own retirement. You are paying the pensions of those who are already retired. Once you understand this, you see that whether you will get the benefits you are counting on when you retire depends on whether Congress will levy enough taxes, borrow enough, or print enough money...

Today and always, there will be an obligation to pass on to the new generation the tradition of liberal scholarship - scientific or in the humanities - and to bring the understanding of things and human actions to everyone.

As I think all Americans understand on both sides of the aisle, the Social Security system as it is structured today is a pay-as-you-go system.

Social Security is a Ponzi scheme.

I think it is so important to pass down knowledge and information to younger generations.

Eliminating the death tax is particularly important for the many small business owners and family farmers that call Central Washington home.

To death we owe our life; the passing of one generation opens a way for another.

I spoil my children rotten and hope to leave them enough so they can do the same to theirs.

You must prepare yourselves, young people, because Uncle Dave's generation is getting old. We are almost ready to go to the retirement home to spend the rest of our days tapping our bedpans rhythmically in time to "easy listening" rock 'n' roll. We must pass the torch on to you, and you must grasp it, ideally by the end that is not on fire.

Transferring successfully to the next generation means producing work that's as good as or better than the work of the first generation that founded the agency.

What is education? Properly speaking, there is no such thing as education. Education is simply the soul of a society as it passes from one generation to another. Whatever the soul is like, it will have to be passed on somehow, consciously or unconsciously, and that transition may be called education. ... What we need is to have a culture before we hand it down. In other words, it is a truth, however sad and strange, that we cannot give what we have not got, and cannot teach to other people what we do not know ourselves.

I was in a Printing-house in Hell, and saw the method in which knowledge is transmitted from generation to generation.

If the blessings of our political and social condition have not been too highly estimated, we cannot well overrate the responsibility and duty which they impose upon us. We hold these institutions of government, religion, and learning, to be transmitted, as well as enjoyed. We are in the line of conveyance, through which whatever has been obtained by the spirit and efforts of our ancestors is to be communicated to our children.

Our families don't always cross the finish line in the span of one generation. But each generation passes on to the next the fruits of their labor.

Every generation enjoys the use of a vast hoard bequeathed to it by antiquity, and transmits that hoard, augmented by fresh acquisitions, to future ages.

Rather than rewarding today’s voters with benefits financed by future generations, as Congress typically does, solving the climate problem will require costly actions now to protect those who will follow us.

There is a real sense of loss when a family sells a business they've spent generations building. I wanted to get some of that back.

I wish to share and pass down some of my generation's traits, and encourage young people to create their own art, music, and literature.