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Written by DML
We all know that the odds are against Joe getting a second term.  When I use the word “We”, I include Joe’s former boss.  You know who I am referring to: The Barry White wanna-be who spent eight years trying to fundamentally transform the country.  So make no mistake, to complete the fundamental transformation of the United States, Joe will be pressured into rallying his side of the aisle to legalize the tens of millions of people who  have no right to be here.  If this happens, and odds are high it will, Social Security will be devastated.

According to the 2021 annual report of the Social Security Board of Trustees, the surplus in the trust funds that disburse retirement, disability and other Social Security benefits will be depleted by 2034. That’s one year earlier than the trustees projected in their 2020 report.

It doesn’t mean Social Security will fall into the abyss; it means the cash reserves will be depleted. Therefore the only money that the system will pay out is the money that the system takes in year-to-year in Social Security taxes.   Therefore, there will less money for you if Joe and the Left legalize tens of millions of people.  This is true because many of the “new Americans” will be able to tap into a system they never paid into.

As it is now, without any sort of legalization of the people who are here illegally, according to AARP, if the fund runs dry in 2034 then Social Security would be only able to pay about 78 percent of the benefits to which retired and disabled workers are entitled.

The money in the trust funds — one for “Old-Age and Survivors Insurance” (the official name for benefits paid to retirees and their families) and one for disability benefits — comes from three sources:

1) 89.6 percent from the 12.4 percent Social Security tax paid on most American workers’ earnings, through FICA payroll taxes (and employer matches) or the SECA taxes paid by self-employed people through their IRS returns.

2) 3.6 percent from income taxes Social Security recipients pay on their benefits.

3) 6.8 percent from interest on the money in the trust funds.

According to the AARP, the trust funds had $2.9 trillion in reserves at the end of 2020, but benefit payments going out are increasingly outstripping income, thanks to demographic and actuarial trends. While the boomers are swelling the ranks of retirees (and living, and collecting benefits, longer), lower birth rates in subsequent generations mean there are fewer workers paying into Social Security.  Now tack on this: More illegal workers are coming here each year.  Joe’s first year has been a disaster; the record numbers we saw in 2021 are bound to get worse in 2022.  All of these folks will likely take jobs that would otherwise go to Americans.  This means there are more people working for cash, and therefore less people paying Social Security taxes.

With events being as they’ve been for the past two years, the shutdowns and part time openings have led to less work hours.  And so there’s been a devastating impact on the Social Security fund’s long-term finances.

Simply put, if no legalization goes through then the reserves should last until 2034.  But if Joe continues to leave the border wide open then I predict the date will change to 2030, if not sooner.

Lawmakers will claim that legalizing the illegal workers is one way to ensure the Social Security fund will be replenished at a faster rate (more legal workers = more people paying into the system).  But I push back on that idea because there will be millions of people in their 50’s and 60s who will be legalized.  If these people are able to collect SS, then it’s a complete wash (money from a newly legalized work force will be offset by the newly legalized retirees who are entitled to Social Security).

According to AARP, lawmakers and policy wonks have been debating proposals to shore up Social Security’s finances, most falling into two broad categories: changing tax policies to steer more money into the trust funds or tinkering with the benefit formula to reduce costs (or some combination of both).

Keep in mind, FICA and SECA taxes also generate a revenue stream for Medicare, which flows into the trust fund that finances Medicare Part A (hospitalization coverage). The 2021 Medicare trustees report projects that fund will run out of reserves in 2026, after which Medicare will be able to pay 91 percent of scheduled benefits.

Bottom line: Once legalized, the new Americans will become eligible for Social Security and Medicare, they will no longer be net contributors who partially pay in without receiving anything in return. Instead, they will become net beneficiaries who receive more in benefits than they contribute in taxes. We must all scream from the mountain tops that no legalization should be given.

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11 COMMENTS

  1. Unbelievable!! Legal Americans paid in the system should the only ones to receive money. I can’t see how illegals should he anything! It wasn’t meant for them or diverted to unrelated things!

  2. money was stolen from social security and reallocated we need to start a class action lawsuit against our government to get those funds put back where they’re supposed to be instead of giving money to all these damn illegals they need to start giving that money back to those of us that have paid into it

  3. Obama took millions from Social Security And millions from the military And politicians use it like our treasury. And giving illegals Social Security Should be the reason this regime hangs I know they get it I have seen the checks . Every single one of them should die. There is only about 5 politicians that work for America The rest need to hang until dead
    Or we send in John Wick

  4. Illegals are what they are, illegal, therefore they should not even be here in America! This should not even be a concern, but since we have Looney leaders, problems seem to occur. My problem has always been how come they don’t see this in the future affecting all as we do, including illegals…oh wait, they just want votes while we depend on them to survive. If we HAVE survived!

  5. So all use people in our 50’s payed in all our lives will get NOTHING for all we paid in , left destitute in our retirement! GREAT THANKS YOU FING SOCIALIST PIGS !

  6. Any child born to an illegal alien gets automatic citizenship. Therefore qualifying for Social Security. Illegal aliens can open a bank account with a tax ID number then cash the SS checks when some game the system.

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