DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Mexico Joins Suit Against Arizona's Immigration Law, Citing 'Grave Concerns'

**Faungarne** · 06-23-2010, 07:05 AM

And yet it's good for Social Security:
http://www.usatoday.com/money/perfi/...ntstaxes_N.htm

The Social Security Administration estimates that about three-quarters of illegal workers pay taxes that contribute to the overall solvency of Social Security and Medicare.

The agency estimates that for 2005, the last year for which figures are available, about $9 billion in taxes was paid on about $75 billion in wages from people who filed W2 forms with incorrect or mismatched data, which would include illegal immigrants who drew paychecks under fake names and Social Security numbers.

Spokesman Mark Hinkle says Social Security does not know how much of the $9 billion can be attributed to illegal immigrants. The number is certainly not 100%, but a significant portion probably comes from taxes paid by illegal immigrants.

Nine billion dollars sounds like a lot of money, and it is, but it is only about 1.5% of the total $593 billion paid into Social Security in 2005.

The impact on Social Security is significant, though, because most of that money is never claimed by the people who pay it but instead helps cover retirement checks to legal workers.

Federal law prohibits paying Social Security to illegal immigrants, but the administration factors in both legal and illegal immigration when projecting the trust fund's long-term solvency.

This is especially important as the 78 million-member baby boom generation begins to leave the workforce and draw Social Security checks.
"Overall, any type of immigration is a net positive to Social Security. The more people working and paying into the system, the better," Hinkle said. "It does help the system remain solvent."

06-23-2010, 07:05 AM	#2
Faungarne Join Date Nov 2005 Posts 416 Senior Member	And yet it's good for Social Security: http://www.usatoday.com/money/perfi/...ntstaxes_N.htm The Social Security Administration estimates that about three-quarters of illegal workers pay taxes that contribute to the overall solvency of Social Security and Medicare. The agency estimates that for 2005, the last year for which figures are available, about $9 billion in taxes was paid on about $75 billion in wages from people who filed W2 forms with incorrect or mismatched data, which would include illegal immigrants who drew paychecks under fake names and Social Security numbers. Spokesman Mark Hinkle says Social Security does not know how much of the $9 billion can be attributed to illegal immigrants. The number is certainly not 100%, but a significant portion probably comes from taxes paid by illegal immigrants. Nine billion dollars sounds like a lot of money, and it is, but it is only about 1.5% of the total $593 billion paid into Social Security in 2005. The impact on Social Security is significant, though, because most of that money is never claimed by the people who pay it but instead helps cover retirement checks to legal workers. Federal law prohibits paying Social Security to illegal immigrants, but the administration factors in both legal and illegal immigration when projecting the trust fund's long-term solvency. This is especially important as the 78 million-member baby boom generation begins to leave the workforce and draw Social Security checks. "Overall, any type of immigration is a net positive to Social Security. The more people working and paying into the system, the better," Hinkle said. "It does help the system remain solvent."
	Quote