As the proposal on how to handle our nation's estimated 11 million illegal immigrants continues, there's an interesting thought that keeps running through my head. As with so many political issues of this nature, the government is simply proposing a government sanctioned exploitation of those workers.
You see, the government wants those immigrants on the tax rolls for one clear reason. As Social Security comes closer and closer to the point where the government can no longer ignore its impending collapse, the options become clear: either find a way to back out of the commitments the government has made, or find a way to bring more revenue into the system without paying out. The fact is, in the Mexcan migrant workers, George W. Bush has found a group of individuals who are largely undereducated, and whose loyalty to their homeland virtually ensures that once they have made sufficient funds to return home and buy a hacienda, they will do so. Not all of them, but enough of them that the government won't have to worry about writing checks for their support.
Social Security has always been a numbers racket, a government instituted Ponzi scheme that collects extra taxes in the guise of creating a pension. But the numbers don't add up, for even an armchair economist like myself. A quick look at my earnings and benefits statement will show that I, a citizen who has made little more than pedestrian wages much of my working life, have nonetheless contributed over $50,000 to the kitty (between mine and my employers' contributions), with about 30 years left to go to retirement. According to Bloomberg.com's retirement calculator, at a reasonable 6 percent rate of return, with contributions averaging what they have over the previous 20 years, I would have about $455,000 at retirement. At 10%, that total jumps to over $1.1 million. And that's assuming no growth in salary over the next 30 years, an outcome that's unlikely to occur. What I will receive in the form of a Social Security check will not even touch the interest on that account. And I cannot pass the money onto my children.
Bringing illegals into this scam is not only potentially endangering our national security by failing to identify those who are coming across our borders, it is robbing these individuals of the future they should rightly be allowed to earn. Rather than trying to find up ways to prop up a failed scam of a retirement fund, we should be finding ways to wean ourselves off of it.