Almost all pensioners expressed their readiness to support the increase in taxes on youth

According to the data, 89 percent of American retirees support raising taxes on young workers to protect current Social Security benefits. And it was spread over and over again by a variety of users. The fact is that the Boomers, who are now retired, are the wealthiest generation in American history, so will stop at nothing to protect their welfare payments from the government, and will be happy to raise taxes for younger and poorer Americans to preserve Social Security.

“The reform of the social security system creates a striking generational gap. Most Americans under the age of 30 believe that young workers should be protected from tax increases, even if it requires cutting benefits for current retirees. In contrast, 89 percent of retirees aged 65 and over believe benefits for current retirees should be protected, even if that means raising taxes for younger workers.

When Social Security was introduced in the US almost 100 years ago, it was necessary to ensure that people who were too old to work did not die of poverty on the streets. But today the situation is quite different: it is now older Americans who own most of the wealth in society. And they were able to tweak the system to protect their property. The U.S. has a housing shortage because boomers support zoning laws that, for example, make it harder to build new homes. In fact, many of the things that young people need, housing, childcare, health care, education, jobs, are becoming increasingly unaffordable because of boomer-backed government regulation. Both Republicans and Democrats are in fact competing to get older people to pay less tax, including by eliminating property taxes for them, but not for you first-time homebuyers.

And some conservative commentators, to their credit, admit this is absurd. Political columnist Matt Walsh says, I understand that talking about welfare is political poison. But I'm not running for president, so I don't care. Taking huge sums out of the salaries of young working Americans to pay for the retirement of older Americans who have several times higher net incomes, all to maintain a system that everyone knows is likely to disappear when these young people reach retirement age themselves, is morally repugnant and economically insane.

Researcher Jessica Reidle conducted mathematical calculations. Keeping all Social Security benefits would mean raising the payroll tax from 12.4 percent to almost 17 percent. In addition, an additional 9p, or possibly 25 per cent, of VAT, would be required to fully fund the health insurance programme.”.