January 13, 2025 - 11:44
Undocumented workers play a significant role in financing Social Security benefits, contributing to a system from which they are often excluded. Despite their inability to access these benefits due to their immigration status, many undocumented immigrants pay taxes that bolster the Social Security fund.
Estimates suggest that millions of undocumented workers contribute billions of dollars annually through payroll taxes, which are automatically deducted from their earnings. This financial input helps sustain the Social Security system, providing vital support for retirees and disabled individuals who are eligible for benefits.
The paradox lies in the fact that these workers do not receive the same benefits they help fund. Their contributions are often made under false Social Security numbers or through Individual Taxpayer Identification Numbers (ITINs), which allows them to fulfill tax obligations.
As discussions around immigration reform continue, the economic impact of undocumented workers remains a crucial aspect of the broader conversation about their role in society and the economy.
October 21, 2025 - 08:28
Potential Appointment of Satsuki Katayama as Finance Minister May Shift Yen DynamicsTOKYO - The anticipated selection of Satsuki Katayama as Japan`s finance minister could prompt a reassessment among market participants who have been betting against the yen. This potential...
October 20, 2025 - 18:56
New Hampshire Officials Penalized for Campaign Finance BreachesThe New Hampshire Department of Justice has imposed fines on key Republican figures in the state House of Representatives, along with the sole Democrat on the Executive Council, due to violations...
October 20, 2025 - 11:36
Could Financial Literacy be the Key to Economic Growth?Recent research highlights a significant relationship between financial literacy and economic performance, indicating that a better understanding of financial concepts can lead to increased Gross...
October 19, 2025 - 19:53
Barcelona's Financial Struggles Intensify with €159 Million Transfer DebtCatalan giants face mounting short-term obligations amid ongoing economic struggles. FC Barcelona is grappling with a staggering €159 million in transfer debt, which has been unveiled as a...