Is that the Buick V8 ? That's been around since the 50s/60s. The Rover P5B was the first to have it fitted, a P5 with the B standing for Buick. Fairly bullet proof, had a V8 SD1 in the 80's, the engine was the only thing that didn't fail.
Isn't it moan-worthy, when it puts you into the 45% tax band?
No, it's still additional income whatever the income tax situation.
But they paid it while they worked, it's one of the things that goes towards pensions, amongst other things. Millennials in the "gig economy" probably pay no NI, a job here and a job there, may earn a bit but NI is paid on earnings per job, not total earnings, so 3 jobs paying £150 each = no NI. I know lots of people under 30 and just over 30, many have bought property, yet they still have cars on finance, mobile phones, holidays, I never had that until I was a lot older and had paid off most of the mortgage (by foregoing those things). Millennials and Gen Z can achieve the same, they just need to work for it, loads do. I just hope I get my pension without the government changing the goalposts again. One main difference between boomers and millennials/gen z is that boomers didn't take risks, ie, didn't overstretch finances with extra credit, youngsters seem not to be afraid of using credit to the max.
It's likely that the actual amount you've paid is insignificant compared to the services you've used and will continue to need. Also there weren't many pensioners about while the current crop were working, so little had to be paid for their upkeep. Nothing was put aside by the boomers to pay for their own upkeep, they enjoyed very low tax and in addition squandered the one-off huge north sea gas and oil windfall.
That was one factor among many, you're over-simplifying to idiotic levels.
