Monday, September 13, 2010

Solving the Social Security Problem: Open the U.S. Borders to the Unwashed Masses

Jim Reid of Deutsche Bank’s Long-Term Asset Study has a unique solution to the Social Security problem: Open the gates to immigrants from around the world. Reid writes:
What we really need is mass migration from the Developing World to the Developed World over the next few years.
The idea is that you let the young into the developed world and that they will contribute to the SS funds now, without drawing on funds for decades. This would really be an imigration tax/fee of sorts since it would result in SS being funded now, but result in a crisis down the road, when there would be no funds for these immigrants.

Arriving immigrants would presumably understand this and save outside the SS system.

I'm all for immigration on private property where a person locates from one spot to another, but obviously a government instigated mass migration to pay off the SS debt is something I would want to watch only from a far, far distance.

Reid does note his proposal would be politically difficult.


  1. Idiot me.
    I thought that's what we have been doing the last 30 years.

  2. Great idea - why not ask France how that strategy been working out for them.