1ºJohn Agati so you don’t care what’s on it. Don’t care to look to make an educated and informed decision on what they found, but you don’t believe anything about it besides the Russian did it.
You’re the reason why other countries think all Americans are morons. Be happy in your solitude of willful ignorance. I’ll stick with my degree in history and political science, coupled with closely following the news for over 20 years.
Always funny when people who aren’t educated on a topic have a strong opinion about it. You probably didn’t even read the articles that I shared before replying. You’re exactly the type of person the propagandists are looking for….simple and gullible. Good luck with that. Lmao
2ºScally Cowell wouldn't that leave a lot of gray area wouldn't it be better to have a clear cut policy come here the right way or don't come here at all you won't get to stay
You don't see a drain on our services from illegal immigration especially hospitals
Or how they drive down wages by taking jobs that pay little because of the lack of choice they have
Work visas are not taken advantage of the poor they're more poor in their original country they come here cuz they make more maybe the Visa process should be a suspended until we get a control on it
3ºThe solution is giving them work visas at the border subject to renewal with evidence of work (W2s). You’ll need them to pay the massively exploding entitlement programs coming due as the baby boomer generation explodes gradually towards 100 million. America still has less immigration today than during its heyday industrial boom days (1870-1914). We didn’t even have passports until the exigencies of World War II.
America is fiscally doomed unless entitlements are reformed, spending is cut, and immigrants or the birth rate are significantly increased. We couldn’t afford a debt of $28 trillion eight years from now and we’re surpassing those numbers. The massive Interest rate shock coming down the line alone, due to artificially suppressed interest rates and printing dollars out of thin air (stealing our children’s future wealth) will put an end to the FED’s reason d’être and credibility and cause a lot of hurt for Americans (and all nations who engaged in artificial statist monetary policies).
As David Stockman, former Republican U.S. Representative from the state of Michigan and the Director of the Office of Management and Budget under President Ronald Reagan points out:
The fact is, the average age of Mexico’s 128 million citizens is just 26 years, meaning that there are lots of potential Tax Mules south of the border to bailout America’s rapidly aging wave of Baby Boomers.* There is truly no way to describe the latter except to call it a demographic tsunami: The 54 million Americans 65 and older today will become 80 million by 2035 and eventually 105 million.
So not withstanding annexing Mexico, it is crucial to understand the labor force demographics, immigration assumptions and the fiscal Ponzi embedded in the social insurance system (Medicare and Social Security). That’s because these fundamental realities expose the utter folly of the GOP’s virtual war on immigrants and pales into insignificance the current Washington contretemps about Dreamers, funding the President’s Mexican Wall and putative caravans of “invaders.” What the facts actually show, of course, is that America needs to be importing immigrant workers, not deporting them. There is simply no conceivable level of tax increases or benefit cuts that can cope with the prospective doubling of the beneficiary rolls and tripling of real costs per beneficiary.
At least not in the context of what America’s politicians and public believe to be a sacrosanct inter-generational transfer payment system. Yet one which, as we have seen, is fatally flawed because it incorporates virtually 100% of annual labor productivity into an endlessly rising level of real benefits over time.
Namely “wage-indexing” versus “price-indexing” of each worker’s earnings history, and the self-evident fact that the long-run cost of the system is being massively swollen by wage-indexing.
Even then, however, there is a second not so hidden feature of the “social insurance” system that throws the whole fiscal equation into a cocked-hat. Namely, the fact that the nation’s vaunted “social insurance” system has nothing whatsoever to do with insurance.
There is no investment committee ala Met Life putting the payroll tax receipts to work in stocks, bonds, real estate, alternate asset classes, etc. Instead, there are dozens of Congressional spending committees allocating every single dime of payroll taxes to the current good works and boongoogles of the Federal government, and as fast as those payroll tax receipts flow into the US Treasury.
So the whole multi-trillion per year system is pay-as-you-go, not insurance.
During the first 70 years of the system, of course, the payroll tax did generate more cash inflow each year than the outgo for benefits and administrative costs. But those surpluses were not invested; they were spent on aircraft carriers, education grants, farm subsidies, civil service salaries and anything else financed by the general fund. Accordingly, the $2.9 trillion of purported cumulative surpluses and assets of the OASDHI system are really nothing more than accounting confetti.
Since 2009 it’s gotten far worse.The system is now running a considerable cash deficit — $62 billion in 2016 alone — and is already insolvent, save for the phony book-keeping exercise under which that the $2.9 trillion pile of accounting confetti is being drawn down to cover the shortfall and is earning interest, too!
So forget the trust fund accounting hocus pocus. The so-called social insurance system is built on the assumption of a permanent and robustly expanding labor force, world without end.
That’s the only way that pay-as-you go taxes on $50,000 of wages in 2020 could square with benefits based on those same earnings that under the current law would be roughly (wage) indexed up to $242,000 by 2060.
In other words, the so-called social insurance programs are on a giant fiscal treadmill. When you propose to pay benefits to our hypothetical worker at retirement in say 2068 (at age 68) based on cumulative labor productivity through 2060 versus the taxes paid on much lower actual wages (pre-indexed) decades earlier, which were completely spent the day they come into the door at the US treasury, the implication isn’t hard to figure.
Namely, you will need tens of millions of new workers by 2068 to fund the huge inter-temporal gap. That’s just another way of saying, of course, that Social Security/Medicare as now structured is the greatest Ponzi scheme ever invented.*
*from the book Peak Trump by David Stockman, 2018.
Expect massive tax increases and even then you’ll never pay down the debt without drastic action. As David Stockman suggests, IMPOSE A 30 PERCENT WEALTH TAX; PAY DOWN THE NATIONAL DEBT TO 30 PERCENT OF GDP.
Even if another road were chosen, the debt of the US government would not stop growing due to the built-in deficit momentum until it reached $28 trillion at minimum. But contrary to the present Keynesian foolishness, national debt of that magnitude is a time bomb on an economy that will struggle for years to reach $28 trillion of GDP, or a 170% percent debt ratio.
The reason is that eventually interest rates must normalize or the monetary system will implode in a final orgy of money printing.
Normalized interest rate increases of, say, 300–500 basis points under a mobilized discount rate régime at the Fed, in fact, would cause an explosion of budget outlays (up to $1 trillion annually) and a resulting feedback loop into honest debt markets which could not be contained because free market interest rates would rise even further. The prudent solution, therefore, would be to get the federal debt burden back to 30 percent of GDP where it was at the time of the Camp David infamy.
That would amount to a $7 trillion debt limit compared to a $28 trillion GDP under an unrosy scenario a decade or so down the road.
Needless to say, $13 trillion of national debt reduction could never be achieved under any known ordinary fiscal device; it would take a one-time wealth tax, essentially a recapture of part of the windfall wealth gain that has accrued to the top of the economic ladder during the age of bubble finance. Presently, household net worth is about $60 trillion and upward of $45 trillion is held by the top 10 percent of households. Accordingly, a 30 percent wealth tax on the upper rungs and payable over perhaps a decade would reduce the national debt to the target 30 percent of GDP. In computing the one-time assessment, the present value of all benefits foregone owing to the cancellation of social insurance for the affluent would be credited against amounts of wealth tax otherwise owing (The Great Deformation, Stockman 2013).