What is the baby boomer generation, what years were they born in and will they need to pay more tax?

BABY boomers are a post-war generation said to be the richest and most active in history.

But who falls under that category and why could they now be taxed more?

What is a baby boomer and when were they born?

A baby boomer will have been born roughly between 1945 and 1965.

They are typically associated with living through an unprecedented period of economic, social and cultural improvement.

The phrase comes from the rocketing birth rate in the West in the years after World War Two.

In the US in 1939, there were 19 births per 1,000 of the population. By 1947, this had shot up to 28 births per 1,000. In 2009, the rate was just 14 per 1,000.

Why could baby boomers now be taxed more?

Baby boomers could be ordered to pay higher axes to help the young and those on welfare.

It came after figures suggested the cost of the welfare state will reach £60billion by 2040 – almost double that of the £29billion in 2015/16, .

This means taxes will be increased or benefits cut and Lord David Willetts says the bill should not be footed by the already struggling youngsters of today.

He told Westminster the “age of tax cuts is over” for baby boomers.

Lord Willetts is expected to recommend the rising welfare bill be tackled with higher taxes, according to the Telegraph.

It reports he is expected to say: “Politics is going to be very different as the baby boomers age.

“The age of tax cuts is over. Instead politics will be about who pays more and how much they pay. ”

“This is the moment when the chickens come home to roost for all of us, but the Baby Boomers in particular.”

How are baby boomers characterised?

The “baby boomers” would grow up to become the healthiest, most fit, most active and most affluent generation ever up to that point.

They would also see themselves as the most unique.

The high birth rate in the late 40s meant by the mid to late 60s a large proportion of the population were the teens and young adults that would start the youth movements and hippy culture that defined the era.

In 2004, British baby boomers held 80 per cent of the UK’s wealth and bought 80 per cent of all top of the range cars, 80 per cent of cruises and 50 per cent of skincare products.

Baby boomers are now becoming pensioners, which putting a large burden on the public purse.

They are also increasingly requiring healthcare in their old age, leading to strains on the NHS.

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