Trump immigrant purge could cut social security for Americans by $2,000 a year
New report on economic cost of anti-immigration campaign projects 8.6% reduction in retirement payments by 2034
TL;DR
- Elderly Americans may face an average annual Social Security benefit reduction of $2,152 (8.6%) by 2034 due to the economic fallout from anti-immigration campaigns.
- The exodus of 1.2 million foreign-born workers has led to increased food prices, decreased housing permits, and job losses for native-born Americans.
- Sectors like agriculture and construction, heavily reliant on immigrant labor, are experiencing severe workforce shortages, leading to wasted produce and soaring building costs.
- Food products dependent on immigrant labor have seen price increases significantly higher than the average grocery price increase.
- The construction industry has seen a 10.9% increase in costs for new single-family homes in dependent states and a nationwide drop in housing permits.
- Native-born Americans are losing potential income in states like California, Nevada, New Jersey, Florida, and New York due to declining construction employment.
- The federal government risks losing substantial payroll taxes from unauthorized immigrants, impacting the Social Security fund.
- The report, commissioned by America's Voice, was conducted by researchers at Economic Insights and Research Consulting.