Working age taxpayers are underwriting the wellbeing of older Canadians far more now than in the past. When today’s seniors were working, the taxes they paid did not fully cover the cost of the services they want and use now, in retirement. The smaller generations that followed the baby boom have fewer workers paying taxes to cover seniors’ outstanding bills, so more of each worker’s taxes must go towards these costs. The result is less money left over to invest in things that matter for younger generations – like child care, postsecondary, affordable housing, and climate change. For decades, this trend has resulted in Canadian governments investing more in those age 65+ than in those under age 45 – despite the fact that seniors are less likely to be poor than families with kids.