Another way to fund social security
by vermin05 (2024-02-17 10:52:19)

In reply to: I'll play.  posted by Barney68

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Increase intake not by taxing more per individuals but by increasing the amount of workers paying into the system. How? Increase immigration, particularly highly skilled immigrants. Everyone wants to move here, allow more in.

Undocumented immigrants are already paying in…
by mkovac  (2024-02-17 12:16:24)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply

with no hope or expectation of getting anything back.

They get FICA taxes withheld from their paychecks and employers match the employee’s “contribution “ and pays the 943 taxes immediately.

That’s what I did when I ran the finances on our family ag operation.

mk
Most undocumented workers
by vermin05  (2024-02-18 05:50:37)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply

Are minimum wage. Legal immigrants would make more and thus pay more.
I agree with this, but not exactly.
by Barney68  (2024-02-17 11:21:08)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply

Start with my basic position on immigration: we need more people, loosen the system up. A lot.

And emphasize young people who will pay into the system for a long time.

But the need to adjust retirement ages is real and getting worse. Immigration won't fix that.

And automation is also an issue. Tax the robots!
We should want more automation
by AquinasDomer  (2024-02-17 12:26:36)     cannot delete  |  Edit  |  Return to Board  |  Ignore Poster   |   Highlight Poster  |   Cannot reply

If productivity per worker increases there'll be more money to go around.