Raising taxes on young people will only make our entitlement crisis worse
Our nation’s ability to project itself into the future is linked to its fertility rate, which is falling fast. This should not be surprising, because the federal government takes trillions of dollars every year from working-age, fertile people and gives the money to infertile seniors. Now Sens. Bernie Moreno (R-OH) and Elizabeth Warren (D-MA) want to make the problem worse by passing one of the largest tax hikes on working-age people ever: $3 trillion over 10 years to keep increasingly generous benefits flowing to the elderly.
TL;DR
- The nation's ability to project into the future is tied to its fertility rate, which is declining rapidly.
- The federal government transfers trillions of dollars from working-age individuals to seniors annually.
- Sens. Bernie Moreno and Elizabeth Warren propose a $3 trillion tax hike on working-age people over 10 years.
- This tax hike aims to fund increasingly generous benefits for the elderly.
- The tax increase would worsen the fertility problem by shifting wealth away from those able to have children to those who cannot.
- Social Security, established in 1935, has been successful in reducing senior poverty.