South By North Strategies, Ltd.

James Kwak minces no words in a a blog post for The Atlantic.

So the real point isn’t that we can’t afford Social Security and Medicare. It’s that some people don’t want to pay the higher taxes necessary to maintain Social Security and Medicare. This is a question of distribution, pure and simple.
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At first blush, it may appear that young people don’t want to pay for retirement benefits and health care for old people. But most of us will be both young and old at different points in our lives, so we’re on both sides of the transfer. The real issue is that Social Security and Medicare are risk-spreading programs, which means that rich people end up subsidizing poor people.
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When people say that we can’t afford our entitlement programs, they’re really saying that rich people won’t pay the taxes necessary to sustain our entitlement programs. To be fair, many rich people probably would be willing to pay higher taxes if they knew the facts. But a small number of extremely rich people have successfully spread the myth that we can’t afford our entitlement programs.