All of our government’s financing problems (heck — most government financing problems everywhere) are a result of voting for heavier subsidization of senior citizens.
In the U.S., the average payment to a senior is about $14K from social security, and $12K from Medicare.
That’s the equivalent of earning $13 per hour. That’s a decent paying full-time job in many locales … and easily beats what teachers start at around here.
Plus, it’s tax-free. The effective tax rate on someone with that much income would be on the high side of 5%, so roughly $14 per hour is the equivalent for a worker.
Something like 40% of the U.S. population survives on that amount or less. This means that a sizable chunk of the population actually gets richer when they stop working for good.