bobbyw24
Banned
- Joined
- Sep 10, 2007
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- 14,097
By REP. LAMAR SMITH Posted 05/12/2010 06:06 PM ET
A recent Rasmussen Reports survey revealed that voters remain concerned about Social Security and whether the system can deliver what the government has promised. According to the survey, 58% of U.S. voters lack confidence that the Social Security system will pay them their future benefits.
Advocates for amnesty for millions of illegal immigrants like to claim that amnesty will "save" Social Security. They also claim that dramatically increased immigration levels will safeguard our retirements and those of our children because more people will pay into the system.
Unfortunately, the opposite is true.
During the last Congress, I asked the Social Security Administration (SSA) to calculate the value in today's dollars of the payroll taxes paid by typical illegal immigrants and their employers as well as the value of their retirement benefits should they receive amnesty. Not only the typical illegal immigrant but any low-skilled immigrant will affect the solvency of the Social Security Trust Fund.
Illegal immigrant workers, often with false identities, can't avoid paying into Social Security but are not eligible to receive retirement benefits for their illegal work. But if they receive amnesty, they can qualify for Social Security retirement benefits based on their earlier illegal work. And those benefits will amount to much more than what they paid into Social Security!
A single male illegal immigrant who works for very low wages and is now 25 years old will receive (at today's value) $15,596 more in Social Security retirement benefits. A similar female illegal immigrant will receive $20,936 more in retirement benefits.
A married illegal immigrant couple in which one spouse works can expect $52,460 more. And a married illegal immigrant couple where both spouses work will receive $39,037 more.
What would be the fiscal impact on the Trust Fund of the legalization of 5 million illegal immigrant couples who both work for very low wages? A staggering $500 billion! That would jeopardize the solvency of Social Security and threaten everyone's retirement.
Of course, Social Security is not the only way in which illegal immigrants negatively impact American taxpayers.
The Federation for American Immigration Reform has estimated that the total cost of K-12 education for illegal immigrant minors and the U.S.-born children of illegal immigrants is nearly $29 billion a year.
And there are health care costs. If illegal immigrants are covered in the health care bill (there is not a strong verification mechanism to ensure they won't get benefits), it will increase the bill's costs by as much as $30 billion.
Continue
http://www.investors.com/NewsAndAnalysis/Article.aspx?id=533804
A recent Rasmussen Reports survey revealed that voters remain concerned about Social Security and whether the system can deliver what the government has promised. According to the survey, 58% of U.S. voters lack confidence that the Social Security system will pay them their future benefits.
Advocates for amnesty for millions of illegal immigrants like to claim that amnesty will "save" Social Security. They also claim that dramatically increased immigration levels will safeguard our retirements and those of our children because more people will pay into the system.
Unfortunately, the opposite is true.
During the last Congress, I asked the Social Security Administration (SSA) to calculate the value in today's dollars of the payroll taxes paid by typical illegal immigrants and their employers as well as the value of their retirement benefits should they receive amnesty. Not only the typical illegal immigrant but any low-skilled immigrant will affect the solvency of the Social Security Trust Fund.
Illegal immigrant workers, often with false identities, can't avoid paying into Social Security but are not eligible to receive retirement benefits for their illegal work. But if they receive amnesty, they can qualify for Social Security retirement benefits based on their earlier illegal work. And those benefits will amount to much more than what they paid into Social Security!
A single male illegal immigrant who works for very low wages and is now 25 years old will receive (at today's value) $15,596 more in Social Security retirement benefits. A similar female illegal immigrant will receive $20,936 more in retirement benefits.
A married illegal immigrant couple in which one spouse works can expect $52,460 more. And a married illegal immigrant couple where both spouses work will receive $39,037 more.
What would be the fiscal impact on the Trust Fund of the legalization of 5 million illegal immigrant couples who both work for very low wages? A staggering $500 billion! That would jeopardize the solvency of Social Security and threaten everyone's retirement.
Of course, Social Security is not the only way in which illegal immigrants negatively impact American taxpayers.
The Federation for American Immigration Reform has estimated that the total cost of K-12 education for illegal immigrant minors and the U.S.-born children of illegal immigrants is nearly $29 billion a year.
And there are health care costs. If illegal immigrants are covered in the health care bill (there is not a strong verification mechanism to ensure they won't get benefits), it will increase the bill's costs by as much as $30 billion.
Continue
http://www.investors.com/NewsAndAnalysis/Article.aspx?id=533804
