Social Security: a third way?
The debate (and by debate I mean scream-fest) on social security has largely been between people who want to cut benefits and people who want to raise tax rates or do away with the cap on how much income is subject to the tax, with each side disparaging the other.
But, there is another alternative. Social security takes $$ from current workers and gives it to the current elderly. We are in trouble partly because the ratio of elderly to workers is rising (and also because benefits have been increasing).
No, people, I am NOT suggesting euthanasia. Shame on you!
I am suggesting getting more workers via immigration!
It's win-win-win. Grandma gets her check, tax rates don't rise, and more people get to come to America and better provide for themselves and their families.
Let's take some baby steps. How about tripling the quotas on H1-B visas and easing the path to permanent residence from them? How about making an easy path to permanent residence for anyone who graduates from a US university. If that's too "liberal" for you how about anyone who gets an advanced degree from a US university?
There are a lot of things we can do to let wealth generating people "in".
And so I say unto you: tear down that wall! Grandma needs the money!