Comments on: AP Flunks Economics 101

By: Richard Harris

Richard Harris — Mon, 05 Mar 2018 05:56:24 +0000

The claim that retiring baby boomers implies a need for more immigrant labor to replace the retirees is completely false. We currently have 93 million people not in the labor force, not looking for work, due to lack of jobs. That is, we have a labor surplus of 93 million people. As baby boomers retire they can be replaced by members of the 93 million labor surplus. We don’t need any more excess labor to replace the baby boomers. Excess labor does not increase GDP. The excess labor merely sits on the sdelines creating a drain on the nations resources via welfare payments.

By: Russ G.

Russ G. — Sat, 03 Mar 2018 20:24:07 +0000

I turn 65 next month. If you think I’ll ‘retiring’ then, guess again. Due to the import of millions of cheap “H1-B” Indians, on ‘temporary visas’ I’ve been out of work permanently since 2012. I had to start collecting my Social Security at age 62, at a reduced benefit rate, or go broke. That’s not enough income to live on. I’ll have to continue working odd jobs indefinitely, until I’m broken down entirely. Prior to the one-year of work 2011-’12 I was often unemployed due to the flood of Indian Cheap Labor, so I was never able to accumulate retirement savings from the mid 1990’s on. Despite their visas being ‘temporary’ with a ‘maximum’ duration of six years, very few of the Indians were ever required to leave. In fact, they were granted the ability to REMAIN here while unemployed, and seek employment with someone other than the original sponsor. The program’s abuses were never reformed. President Trump has tightened things up some, but it’s too late for millions of Americans like me. As for wages, hourly contracting rates, and salaries in the computer programming field, adjusted for inflation they’re lower than they were in the mid 1980’s. There is no labor, or even skills shortage. And if you think the “Republicans” have fought it; guess again. Many of those in the GOP who claim the mantle of “conservative” have pimped for the Cheap Labor Lobby worse than Democrats.

By: Leland

Leland — Thu, 01 Mar 2018 23:57:02 +0000

The argument about baby boomers retiring is bogus. The youngest boomers were born in 1964, meaning they will only be 54 this year, 12 years short of retirement. A good percentage are years from retirement, and polls, in other words actual facts, show that the majority will want, or need, to work at least part time even after retirement. Automation is also a factor, it’s replacing a lot of low skilled jobs now.

The figure of immigrants producing 4.6 million jobs by 2040 is quite small. Considering the fact that we will probably add 60 million in population by then, given present rates of immigration, it hardly seems worth the cost. And why do we need to worry NOW about our labor needs 22 years in the future? Is there going to be some shortage of people willing to come here in the future? Absurd.

As pointed out, holding out total GDP of a country as some kind of success story is meaningless. India, as open border libertarians love to point out, has a big growth in total GDP every year, but it’s due to out of control population growth. They passed one billion in population 20 years ago and have added 300 million since. How could anyone consider THAT some kind of desirable progress. The vast majority of the population lives in abject poverty in a polluted landscape. No thanks.

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