Sunday, August 8, 2010

Are your full SS benefits secure (for the rest of your life?) - why we might need and should consider ENCOURAGING Immigration

Immigration = part of the solution to endangered or shrinking SS benefits.

Agreed - Controversial, Provocative - but when the Gummint, which already taxes certain taxpayers' Social Security benefits, INEVITABLY takes more and more out of your Social Security check it begins to have some merit - so not as far fetched as may first appear.

How so?
More and more workers WILL be - NOT may be - required to contribute to the Social Security Trust fund - from THEIR future earnings in order to meet projected SS benefit transfer payments (our SS benefits). For years the SSA has published studies of future demographic responsibility and the overwhelming group winner is Latinos. Relieving much upward pressure on the FICA tax - a benefit to current workers and employers, which are required to match employee's contribution - see SSA Trust fund tax link here

And you suggest WE pay immigrants to come INTO the US?
And that we should offer these immigrants access to the best health care, education and special home ownership tax incentives! What are you crazy? Not yet - hear me out.

It's simple - if we, as both current and future recipients of SS benefits want secure benefits it will be well worth the current investment in raising the best, the most educated, affording the USA the greatest possible, most productive, innovative, WELL paid workforce OF THE FUTURE. A vast, diversified, well paid cadre of future entrepreneurs and workers IS AMONG THE BEST SOLUTIONS FOR THE FUTURE far surpassing the mostly political resistance thereto.

After all the Native American Indians possess the ONLY authentic birthright claim of citizenship; but ironically also the group to suffer the most from immigration.

A Current and future BFD by the Trustee's of the Social Security TRUST fund?
Or should the TRUSTEES of the SS Trust fund, in the UNDENIABLY clear face of a benefit payment shortfall fund, sue the Federal Government so as to insure the continued prudent funding ability of the trust?

A Decades-old BFD?
Have the SS Trustee's already breached their fiduciary duty to plan participants by NOT suing the Federal Government for draining cash in return for special bookkeeping entries aka sometimes known as US Treasury securities?
Have the Trustee's been forced or made a choice and committed a BFD by allowing SSTF Assets to be "invested in" undiversfied, low yielding US Treasury securities?
Of course not - the SSTF requires by instrument such investment but otherwise a considerable BFD.

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