Here is the problem with that idea, for the most part, the >50 age group are the only demographic left that is actually willing to do any work for their money!! If you pay them all off, nothing would ever get done again
That was my dad's response (cause he doesn't turn 50 till next year).

A better idea, we could solve the problem with the poor, give them all 1 million dollars each, then tax the piss out of them, and see how much they whine that it isn't fair that they are getting taxed more than anyone else. That would be irony.