Social Security and Medicare are projected to be incapable of fully funding benefits by 2032 and 2033. At the same time, the American population is aging rapidly with a shrinking working-age tax base. This is the result of declining fertility rates since the baby boomer generation, meaning more of today’s beneficiaries live off money from taxpayers despite raising fewer children than previous generations. Tying the benefit levels of these programs to the number of children an adult has raised in their lifetime would lower the program’s deficits. Additionally, it would give parents a return on investment for the enormous fortune it costs to raise their children, who would ultimately pay the taxes for their pensions in adulthood. Even though it may be politically unpopular, changes in benefit eligibility must be made for the program’s sustainability.
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Edward Kim
I have been interested in politics ever since the 2016 election, and have always dreamed of becoming a writer and debator!
