A reporter for the Canadian Financial Post posits:
We're largely familiar with Generation X and Generation Y. But perhaps it is time to brace for the emergence of another generation in the United States– Generation T, where T stands for tax. This group can be described as young Americans, maybe aged 16 to 30, stuck with forking over higher taxes to pay off the debt legislators built up in the years leading up to the great recession and then allowed to swell substantially in a bid to save the economy from disaster. The American members of Generation T are likely to be hit with taxes their parents were lucky enough to avoid. Among the types they will get quite acquainted with is the VAT, or value-added tax.
Whether young people become the Tax Generation is largely up to them. They voted last time in overwhelming numbers for the T party, the Democrats. They have the electoral strength to send a message in coming election cycles that they don't want to become tax slaves, bailing out their elders for their profligate ways.
Young people need to figure out that the big government policies of both parties in recent years are particularly disastrous for them. Big governments kill job opportunities, kill new industries, kill innovation, kill dynamism, and kill growth. The young need to stand up and defend themselves against the fiscal insanity in Washington, else they will be crushed by a tidal wave of taxes never seen by any generation in American history.