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The United States will need 7 million migrants to cover old age support programs for baby boomers (english.elpais.com)

submitted 2 years ago by MicroWave@lemmy.world to c/news@lemmy.world

65 comments fedilink hide all child comments

The country’s aging population and low fertility rate jeopardizes the solvency of Social Security and the Medicare program, according to a new study by Brookings

The immigration crisis has become a recurring theme in social gatherings and political debates, and is the main issue of the U.S. presidential election. Amid this discussion, one certainty stands out: while it’s well known that migrants have a need to live in the United States, a study has highlighted that the country needs them too.

Twenty percent of U.S. workers were not born in the United States, and it is expected that in the near future more than seven million more migrants will be needed for the labor market. That’s according to a study by Brookings, which warns about how the higher-than-expected increase in pensioners following the Covid-19 pandemic will affect the U.S. economy.

As the baby boomer generation approaches age 80, two challenges are facing the U.S. economy: providing staff to care for the elderly and ensuring the solvency of Social Security and the Medicare program.

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[–] Skyrmir@lemmy.world 1 points 2 years ago

https://www.pgpf.org/blog/2022/11/social-security-reform-options-to-raise-revenues

There's a ton of right wing sites that would tell you eliminating the cap is a complete waste of time horrible for the economy, bringer of the end of days, etc.

Bezos, like many ultra wealthy, most likely paid himself some token amount in wages. Many CEO's used to pay themselves $1, just to say they had an income. They have accountants that decide how much he should claim as wages, just to maximize the returns from Social Security, without paying into it any more than needed.