Think immigrants drain Social Security? Think again; theyre saving it. Thirty-eight percent of the 8.1 million pay social security taxes, which comes to roughly $12 billion a year, according to CAP estimates. When payroll contributions cannot be credited to a verifiable number, they go into what’s called the “Earnings Suspense File.” A study that was done last year by the Center for American Progress (CAP), a liberal think tank, found that this file is estimated to have accumulated one trillion dollars worth of tax contributions. Common sense is too often in short supply in the emotional debate over immigration reform and Obama’s executive action. But as America faces two great demographic shifts taking place simultaneously—the graying of America and the browning of America—the economic benefits of legalizing millions of people are clear for those directly affected and for the country as a whole. What is less clear is how workplaces accustomed to exploiting workers will adjust to newly empowered immigrants less afraid to stand up and be counted and claim what they’re entitled to. t.co/Z9Yeep8GJI
Posted on: Mon, 01 Dec 2014 01:28:58 +0000
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