Historically, only a % of the population ever reproduced. About the same as do today.
The difference is that the couples that do have children, have much fewer children. 2, instead of 4.
We need to look at the costs faced by couples with a lot of children. For example, you can accommodate 2 children in a standard 3 bedroom house, but 4 or 5 children are going to need a much larger and more expensive dwelling. Same thing with cars.
The USA seems to be doing alright with this, where housing is relatively affordable, and child tax credits and the ability to combine you income with your spouse. (The situation is much more dire in Central/Eastern Europe)
One way to improve this is to increase land value taxes, but offer a credit for each child of the owners under 18 living there. This would give families a formal tax advantage against baby boomers and investors.