fatbrit

Well many of them already pay into the system - bit difficult to opt out of social security at McD's. It's interesting because the EU also has a similar problem with the ratios as the current generation seems to have given up reproducing. One of the solutions seems to be to allow quite high legal immigration into the EU to offset this in the future.

Whether the politicos in the US have the balls to actually make them legal or merely just carry on with the current hypocrisy of apartheid, these folks will have paid into the system for a long time and are going to be expecting their share out. Their sheer numbers would suggest that legal challenges might be made to the current status quo.

mdyoung

SSA does also run the SSI program for low income people over 65 or disabled that don't qualify for Social Security benefits, so I don't see the government letting anyone starve, but it's not the governments responciblty to make sure grandma has enough money to take a bus trip to Atlantic City.

I guess the stock market could crash, but over the long run it does seem to be the best place to put your money. Plus people would be investing in funds not individual stocks.

Well this is where the savings accounts plan has a hole. Bush says he isn't going to mess with the benefits of anyone getting benefits or nearing retirement, but it's just that group of people called baby boomers that are going to bust the Trust Fund.

Yes Medicare and Medcaid or in trouble as well, but do you just stick your head in the sand with Social Security because the other programs are in trouble too.

mdyoung

Yes the U.S. isn't the first country to run into this problem and I quite sure the President and Congress are aware of what other countries are trying to do to get out of their own Social SEcurity mess

If you are assigned an SSN and have work authorization you can get credit for wages made while working illegally if you paid Social Security taxes on those wages.

Social Security Protection Act of 2004 (Public Law 108-203) signed by President Bush on March 02, 2004.

Prohibit Benefits to Persons Not Authorized to Work in the United States

-- Would provide that the payment of Title II benefits based on the earnings of any noncitizen would be precluded unless (1)
the noncitizen had ever been issued an SSN indicating authorization to work in the United States, or (2) the noncitizen, at the time any quarters of coverage are earned, was admitted to the United States under a B1 visa (for business purposes) or D visa
(crew member--e.g., for an airline).

-- Would be effective with respect to Social Security numbers issued on or after January 1, 2004.

The information below is take from Social Security Administration (SSA) procedure as to how the above provision of P.L. 108-203 is applied by SSA.

http://policy.ssa.gov/poms.nsf/lnx/0300301102

RS 00301.102 Additional Requirements for Alien Workers- Social Security Protection Act of 2004

F. EXAMPLES

4. SSN Assigned On or After 1/1/2004: Alien NH Has "Work SSN," Prior Status as Undocumented Alien

Gustav entered the U.S. without inspection (i.e., he was an undocumented alien) on 4/16/97. He worked without authorization from DHS for several years in covered employment using his brother's name and SSN. He applied for admission as a lawfully admitted permanent resident alien (LAPR) and was granted LAPR status on 3/13/04. Gustav applied for an SSN on 4/27/04 and was assigned an SSN and issued an SSN card for work purposes on 5/12/04.

He became disabled on 6/22/04. Gustav, his wife and children applied for Title II benefits on 6/30/04. The children are U.S. citizens; the wife is LAPR. Gustav's own SSN was originally assigned on or after 1/1/04; therefore, we have to determine whether he meets the requirements of Section 211 of the SSPA. Since Gustav had been issued an SSN card for work purposes on 5/14/04, he meets the requirements of Section 211 of the SSPA. Therefore, determine whether Gustav meets DIB insured status using all of his covered earnings, including wages and/or self-employment income earned while he worked illegally under his brother's SSN.

Take the necessary corrective action to move Gustav's earnings as an undocumented alien from his brother's record and/or the suspense file to the earnings record for his own SSN. All of Gustav's covered earnings may be used to establish quarters of coverage and to determine insured status. If Gustav meets the applicable insured status test(s), process an award. If he does not meet the insured status test(s), process an insured status disallowance.

NOTE: Gustav's wife and children can be entitled if he is entitled to benefits. Also, Gustav and his wife must meet the lawful presence requirement if they are in the U.S.

snowbunny

Jobs of all sorts are being shipped overseas. The unemployment rate is rising, and the average wage is falling, especially among the young. Even relatively "safe" investments like real estate will depreciate, because the baby boomers will flood the market in order to liquidate, and there will be fewer qualified buyers to keep prices up.

If younger workers are supposed to keep this place afloat, both through payroll taxes and caring for the huge number of elderly folk, they need training and a job NOW.

anotherlimey

Bunny you are forgetful, do you remember the Bush and 'that other guy' debating before the election?

Apparently if you're out of work with a family you can afford to go back to university and train for a different job.

What Bush fails to see is that even with training there just aren't the jobs to go around.

snowbunny

Miss Bunny agrees . I have a bachelor's degree, some master's coursework and could get another bachelor's in math(s) with about three classes. But what ****** good would it do? I'm a former National Merit Scholar; I graduated near the top of my class from a top 10 (US) engineering programme and was the highest-ranked female engineering graduate. I won all the spelling bees and essay competitions. I did everything Republican America would have me do, including staying home with the kiddos for a time. So where is my job?

To become an RN takes YEARS of uni. Teaching requires at least a year here in Texas and that's if you already have a bachelor's degree. And I really feel for patients and students whose caregivers chose those careers out of desperation. As a single parent with young kids, long-haul truck driving and bartending aren't really options.

I need some job karma and quick.....

fatbrit

Fascinating -- thank you for posting.

Not sure I have the same faith in the current administration's ability and foresight as you...

Interesting that you can have your payments counted while illegal if you manage to attain legal status. Presumably there's no way of doing this if you don't manage to attain this holy grail. Wonder where they're going to go with this?