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----- Original Message -----
From: Dzigbodi Akyea <[log in to unmask]>
Date: Thursday, April 3, 2008 1:06 pm
Subject: How Immigrants saved Social Security
To: [log in to unmask]
> ***********************************************************
>
> RENEW YOUR ANNUAL MEMBERSHIP WITH AAM!!!!
>
> SEND A CHECK FOR $25 TO AAM, P. O. Box 1016, MADISON, WI 53701
>
> MEMBERSHIP PERIOD:OCTOBER 1 - SEPTEMBER 30
>
> ***********************************************************
>
> The New York Times
>
> April 2, 2008
> Editorial
> How Immigrants Saved Social Security
>
> Immigration is good for the financial health of Social Security
> because more workers mean more tax revenue. Illegal immigration, it
> turns out, is even better than legal immigration. In the fine print of
> the 2008 annual report on Social Security, released last week, the
> program’s trustees noted that growing numbers of “other than legal”
> workers are expected to bolster the program over the coming decades.
>
> One reason is that many undocumented workers pay taxes during their
> work lives but don’t collect benefits later. Another is that
> undocumented workers are entering the United States at ever younger
> ages and are expected to have more children while they’re here than if
> they arrived at later ages. The result is a substantial increase in
> the number of working-age people paying taxes, but a relatively
> smaller increase in the number of retirees who receive benefits — a
> double boon to Social Security’s bottom line.
>
> We’re not talking chump change. According to the report, the taxes
> paid by other-than-legal immigrants will close 15 percent of the
> system’s projected long-term deficit. That’s equivalent to raising the
> payroll tax by 0.3 percentage points, starting today.
>
> That is not to suggest that illegal immigration is a legitimate fix to
> Social Security’s problems. It is another reminder, however, of the
> nation’s complex relationship with undocumented workers. Would the
> people who want to deport all undocumented workers be willing to make
> up the difference and pay the taxes that the undocumented are
> currently paying?
>
> It is also a reminder of Social Security’s dynamism. As society and
> the economy evolve, so does the system, responding not only to changes
> in immigration and fertility, but also in wage growth and other
> variables. As such, it is adaptable to the 21st century, if only the
> political will can be found to champion the necessary changes. Those
> include modest tax increases and moderate benefit cuts that could be
> phased in over decades — provided the country gets started soon.
>
>
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