Several years ago, it was common knowledge that Social Security would run out of money sometime around 2040-2050.
But a month ago, the new estimates predict it would run dry by 2030.
Illegals, among other things.
...whether you want to call it waste or not, Social Security money is being spent for purposes other than funding the retirement benefits of the workers who paid into the system, and illegals receive state and federal benefits, including Social Security, through several mechanisms....
A little history:
... The original 1935 Social Security Act paid benefits only to workers who had contributed. The 1939 Amendments, signed by Franklin Roosevelt, added benefits for a retired worker’s spouse and minor children, as well as survivors’ benefits for the family of a worker who died prematurely. This marked the first time trust fund dollars flowed to people who had never paid FICA taxes themselves....
Things went well until the Great Recession in Children (beginning around 1965) happened. The number of pay-IN peeps dropped while the pay-OUT peeps grew. Not good.
About those illegals taking SS funds:
...Under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996, U.S. citizen children in mixed-status households remain eligible for SNAP, Medicaid, CHIP, and WIC regardless of a parent’s status. The fact that illegal alien families collect federal and state benefits through their anchor babies is one of the reasons the Trump administration is working to end birthright citizenship.
Separately, SSA’s Office of Inspector General has an active caseload of individuals who used stolen or borrowed Social Security numbers to file for and receive benefits outright....
Then there's Supplemental Security Income (SSI):
...Because SSI eligibility requires only citizenship or qualified-alien status, age or disability, and income under a threshold, a stolen identity satisfies the first gate, and the remaining two are ordinary eligibility questions.
The 2004 Social Security Protection Act requires that an alien whose Social Security number was assigned on or after January 1, 2004, have had work authorization at some point to gain insured status. Numbers assigned before that date carry no such requirement, meaning earnings recorded under a pre-2004 number can generate benefit eligibility, including for citizen dependents, without the worker ever having held legal status....
There is NO doubt that the pay-IN to pay-OUT ratio is the most significant factor in the shortage. But the illegals, and SSI (often fraudulently abused by US citizens, too) are a factor which should be fixed.
1 comment:
People don’t wanna work
They resent the fact that when they work for somebody else they have to pay into Social Security
I like President Trump. There are many good things that he has done
however his pursuit of Israel’s war in the Middle East against Iran is stupid
The hatred from the Democrats for anything that Trump does is doubly stupid
The do nothing rhinos in Congress and do nothing. Democrats and Congress are more than worthless.
Their job is to serve the country not themselves
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