"The Totalization Agreement could allow millions of illegal Mexican workers to draw billions of dollars from the U.S. Social Security Trust Fund."
There is no SS "Trust Fund". In Ponzi scheme fashion, current retirees get their payments from those currently working and paying taxes. What is worse, some of the social security tax money is used for general purposes not even related to "Socialist Security".
If anyone thinks there is a "trust fund" I suggest contacting the SSA and ask for the current balance of 'your' retirement account. Hear the bureaucrats laughing?
Let the crooks in your pocket, be surprised at the outcome.
So basically, Congress is going to raise taxes on everyone here so that Mexican citizens can enjoy the good life south of the border? That is just plain WRONG.
Well, you are mostly right, but not quite. There is a "Trust Fund". However, it's filled only with US government IOUs -- non-negotiable, non-tradeable special govt notes.
In Ponzi scheme fashion, current retirees get their payments from those currently working and paying taxes.
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I truly believe this is the reason the goverment is so quick to allow for amnesty/guest worker program. They need the influx of cash NOW. What better way to get a huge influx if we legalize 12 million workers.
You my friend have got it exactly right.
You know what the prostitutions say when ask how much is in the trust fund? They simply say its solvent. They havent the guts to say that it has been gutted by them since who knows when.
By 2012 or a few years after, we have to pay ALL THEM IOUs that are in that trust. Thats when it crashes..or we have a real constitutional revolution in this country and build a gallows not unlike the one they used for the assassins of Abe Lincoln, and start hanging the CONgress critters.
A couple months ago I got into a real dandy with a good friend of mine who is a democrat. I told him that by the year 2012, that SS will be in debt by the tune of trillions of dollars. He said I was full of shit. I told him he is a fine example of a sheep who can be had by any flim flam artist that comes along. I told him that of course he's 80. So he's gonna be dead by then, so why worry?
And that is the real problem why nothing is gonna be done. Those on SS dont care, as long as they get "thier share" and then some.