"Illegal Immigrants Won’t Fix the Social Security Pyramid Scheme"

[WhiskeyGirl]

With 16% of Americans unemployed or underemployed, now is not the time to 'expand' the workforce

According to a 2005 Cato Institute report titled “Social Security: Follow the Math,” in 1950 there were 16 workers paying taxes into the Social Security and Medicare systems for every retiree. The same report indicated the ratio in 2005 was three workers for every retiree. Instead of correcting the pyramid scheme nature of Social Security and Medicare, proponents of illegal immigrants as a cure are hoping we will buy into the plan to just “kick the can” down the road. Ultimately the plan will fail for the same reason all pyramid schemes run out of gas (think Bernie Madoff!). It is mathematically impossible for enough workers to enter the system to support the retirees in the system.

I've read in a few places, that in other countries, like Mexico, you have to contribute to receive.  When you receive, you get your contributions plus interest - much like a 401k or IRA.

Former Fed chairman Alan Greenspan — a co-creator of the housing, asset and credit bubbles that began bursting in 2008 — indicated in his 2009 testimony to the Senate Judiciary Committee’s Subcommittee on Immigration, Refugees and Border Security that increasing immigration “would lower wage premiums of skilled over lesser skilled” workers. In other words, increasing immigration would decrease the income of a large part of the working class — Americans who Greenspan calls the “privileged elite whose incomes are being supported at noncompetitively high rates by immigration quotas.”

What happens if you raise minimum wage?  Lose jobs?

“Granting amnesty to illegal immigrants would, over time, increase their use of means-tested welfare, Social Security and Medicare,” wrote Rector. “Fiscal costs would rise in the intermediate term and increase dramatically when amnesty recipients reach retirement.”

...Californians for Population Stabilization believes the actual number of those who would potentially receive amnesty is closer to 20 million than 10 million.

I think it will end up being more like 40-45 million - millions will come and apply to get a foot in the door.  Who in government will be checking their documents?

read more here - http://www.noozhawk.com/local_news/article/072509_maria_fotopoulos_illegal_immigrants_social_security/ — Maria Fotopoulos is a senior writing fellow with Californians for Population Stabilization

[WhiskeyGirl]

Will illegal aliens and amnesty fix the problem with Social Security?  If there are 20 million in California, how many in the rest of the US?

Old discussion, no new answers.