alt Hacker News>People wonder where all the money is going and there's no particularly good answer.
The answer is welfare. That is the original sin of all of this, and the one people refuse to acknowledge.
You need to let people fail.
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In the UK at least the biggest portion of welfare goes to the state pension.
It’s hard to deal with that when people have been paying into the system for their whole working lives on the promise that they will be looked after in old age.
It’s hard to see how you can fix this whilst pensioners continue to vote whilst young people don’t.
That's about 25% of UK government spending. 33% if you include pensions.
The UK does have an issue with a lowering number of people in productive work and ever more on various kinds of disability payout, it's true, but this -
> You need to let people fail.
Doesn't really follow.
The answer is the ultra-wealthy. Those on welfare are getting increasingly poor, while the ultra-wealthy are getting increasingly wealthy. It's clear where the money is going, and it's not to poor people.
Meanwhile we bail out large corporations on mere speculation they might fail. I don't know where you live, but around me a large chunk of the population have nothing to fail down to other than homelessness which is a huge drag upon the economy.