Econ 101 on Illegal Immigrants
Each year, for example, the U.S. Social Security Administration maintains roughly $6 billion to $7 billion of Social Security contributions in an “earnings suspense file” — an account for W-2 tax forms that cannot be matched to the correct Social Security number. The vast majority of these numbers are attributable to undocumented workers who will never claim their benefits.
If those funds could be earmarked for local support, they would make a sizable dent in education costs. Local school districts are estimated to educate 1.8 million undocumented children. At an average annual cost of $7,500 (averages vary by jurisdiction) per student, the cost of providing education to these children is about $11.2 billion. That means roughly half of the education costs for undocumented immigrant children could be met if these Social Security funds could be redirected.
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That’s a good idea, but you leave out the fact that any money collected from Social Security in excess of its outlays gets loaned to the government and spent anyway.
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Jeremy, the tongue-in-cheek post was directed to the immigration debate, not to the Social Security issue…
About what the government does with OUR money, well, let me say that Social Security should be downgraded as a debate issue. Or, perhaps even better, upgraded and put it in the front burner so more people would feel idignation about spending upward of $300B in a war that doesn’t benefit anybody while OUR FUTURE as retirees and disabled people is put way down there in the list of priorities….