The amount of wealth being sucked from the labour of younger generations is beyond any ridicule. Extremely high taxes on labour - that goes to the old, extremely high real estate prices - to the old, extremely high rents - to the old. Yet it is not enough and they take on huge debts to the government - to be paid by the young. Top that with the forced pension fund contributions of young workers who are to expect to never receive any pension when they turn old.
I know this is a high earner tech forum, and these things don't become most readers, but for people working in other sectors the perspective is different.
Every culture has also had older people stepping down at some point to let fresh blood take the charge and carry the burden. In Western societies we don't see that so much anymore. Instead it seems the old prefer to see things rot than to let younger people take over. With land, farms, houses, businesses, etc.
If younger people got an honest chance all would benefit, including the old. Instead young people are mostly seen as people to exploit or ignore.
It is not difficult to look up history. The current old people who hold power in small and in large, when you look up their history, they all got help to start their ventures. Very few of them are self made, so why the act?
>We've just made the system so efficient
It's only efficient at robbing the young.
One half of this social contract, the young-giving-to-old, was formalized (and forced) while the other half, old-building-for-young, was utterly abandoned. There's a great meme about this: "no take, only throw!"[0]
Eating all the seed corn[1] will eventually lead to famine.
[0] https://knowyourmeme.com/memes/no-take-only-throw
[1] https://en.wiktionary.org/wiki/eat_one%27s_seed_corn#English
Yeah, and I say that as someone on the wrong side of forty.
The relative growth in wealth from pensioners to working groups in most Western nations is completely unsustainable, and will end very badly eventually. Trying to flatten the curve now is preferable to the alternatives.
Are you sure you want to tax people who've worked all their lives, saving up money, who are now living off the interest payments?