I paid taxes into Social Security and Medicare for over five decades. My wife and I have already collected in benefits more than we and our employers paid in taxes our entire working lives.
What I contributed was not enough to keep these programs solvent. What you contributed or are contributing now is not enough. Something must be done to keep both programs fully solvent and forever sustainable.
What is that something?
The reality is Congress has ignored the problems and failed to act for decades. This has passed the burden to younger generations, the workers of today and tomorrow.
This means that assuming no changes are made to either program that affect current beneficiaries, to keep the programs solvent today’s workers will indeed pay more than their fair share for the same benefits. And, they will pay even more to increase benefit levels.
Anyone who is collecting either Social Security or Medicare benefits is not entitled to more. They did not pay for the benefits they have. They contributed toward the benefits of others and that was not enough.