I've been reading a lot of articles about how the American deficit and current budget crisis is only going to get worse as the Baby Boomers continue to retire. I find it strange how a cnservative House of Representatives can complain about all of this while, I believe, blindly sidestepping the very solutions that could help resolve these problems.
I believe the first thing that would help would be passing an immigration bill that would add 11 million new taxpayers to help fund both Social Security and Medicare while making up for those boomer retirees. And that would also be a good time to loosen our immigration laws for the same purpose because it only makes sense that to grow the U.S. economy you also have to grow the U.S. population, and currently that's not happening.
And what is so wrong with raising the minimum wage? Of course it's going to cause prices to rise in certain businesses but it's also going to increase the amount of money that the federal government is taking in for tax purposes, without, I might add, a tax increase to the general population.
And finally, why is there a wage cutoff limit of $106,800 a year for Social Security? In the end, most people get back more than what they paid into this fund anyway, so the wealthy shouldn't be concerned about paying more now when they will receive it later on the back end of their retirement lives.