The Original Sin of Mark Walter

Social Security is careening towards disaster. The expenditures on Social Security are outpacing the taxes paid in. That means that the difference is being made up by the Social Security trust fund, and the trust fund may be exhausted as soon as 2032.

Congress has had an opportunity to fix this, but has delayed. Why? Well, the Boomer generation started in about 1941. Basically, by the time that boomers start dying en masse, they won't have to deal with the problems with Social Security. Hey, when is that going to start happening in earnest? You guessed it, 2032.

In other words, boomers created a problem and have no desire to fix it, since they won't be here when shit REALLY hits the fan.

So, the Dodgers. If you've watched Pablo Torre's excellent new video on the Dodgers, it's obvious that the Dodgers are sprinting toward some kind of disaster. What kind exactly is hard to say. Will Walter lose his fortune? Will Magic Johnson end up in prison? Who knows?

However, the one big sin of Mark Walter is that he is doing exactly what boomers have a tendency of doing. He's 66, having been born toward the tail end of peak boomerdom. He's not going to be around forever. In just a few short years, the pile of signed contracts is going to collapse, including the albatross that is Shohei Ohtani's contract.

In case you've forgotten, Ohtani is getting paid two million per year through his contract. Hey, what year does that contract run out?

2033. After that, he's getting paid $68 MILLION per year. 

Mark Walter will be 74. Will he still be running the Dodgers? Considering that he turned around and sold his majority stake in the Lakers a year after acquiring it, there's a strong chance that he will not.

Mark Walter's sin is not tax fraud or insurance self-dealing or anything like that. Yeah, he probably did those things, but it all stemmed from the same sin from which all boomer sins come from: Fuck you, got mine.