Mostly because the seniors have spent their working lives building their savings (hopefully) to be able to retire, and have a very fixed income -- they can't lo

Mostly because the seniors have spent their working lives building their savings (hopefully) to be able to retire, and have a very fixed income -- they can't look forward to getting another job, getting a raise, etc. Seniors as a whole are a very vulnerable group, which I think is one of the reasons that their voter turnout is so high. Think about what that'll do to your retirement. Presumably you're saving and such, and want to get to a point where you can live comfortably (not extravagantly) when you retire: a trip a couple times a year, the ability to take your grandkids to get ice cream, etc. A tax bill can be devastating to your retirement savings & therefore lifestyle.