On the aggregate this cancels out, but on the micro level this is just a kind of wealth transfer from the poor to the investor/retiree class, not too different

On the aggregate this cancels out, but on the micro level this is just a kind of wealth transfer from the poor to the investor/retiree class, not too different from a tax on the young and less fortunate. The rich boomers are getting their retirement subsidized by screwing over the working class and the younger generation, pretty on brand I'd say.