Maine has become the second state to determine that former President Donald Trump is constitutionally ineligible to appear on the state’s primary ballot for 2024. The decision by Maine Secretary of State Shenna Bellows, a Democrat, follows the Colorado Supreme Court ruling last week that concluded the 14th Amendment to the Constitution prohibits Trump from serving in office again due to his role in the Jan. 6 attack on the Capitol.
Trump is expected to appeal those decisions and others like them to the U.S. Supreme Court, which will likely have to settle the issue. He has railed against the effort to remove him from the ballot as politically motivated attempts to undemocratically disenfranchise him and his supporters.
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The “generational wealth transfer” between baby boomers and their heirs has become a media fascination, both for its eye-popping size and because it may help younger generations with doubts about their financial security. Some $53 trillion is expected to be passed down from boomers to their Gen X, millennial and Gen Z heirs, as well as to charities, according to one wealth management firm.
Baby boomers have collectively benefitted from America’s economic growth — the value of low-cost housing purchased decades ago has increased dramatically, and the stock market has soared roughly 4,000% since 1969. Younger generations have had to deal with student debt, rising cost of living, the Great Recession and the pandemic at some of the most vulnerable stages of their lives, leaving many with doubts about their ability to retire securely.
But the balooning cost of health care for older people means they won’t be left with as much as expected to leave to their heirs, even if they seem well-off now.
- NBC News
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