Posted on 08/27/2004 7:55:47 PM PDT by television is just wrong
Mexican remittances head for new record By John Authers Published: August 26 2004 03:00 | Last updated: August 26 2004 03:00
Remittances from Mexican migrant labourers are on course to set another record this year, according to the Bank of Mexico. Total second-quarter remittances reached $4.5bn (€3.7bn, £2.5bn) - an increase of 29.1 per cent over the second quarter 2003, according to a report by the bank.
The numbers are likely to intensify competition among US banks for a share of the remittance market, which is seen as the best way to improve their marketing to Hispanics.
Total remittances for the first half of the year were up 25.9 per cent to $7.87bn, equivalent to 2.4 per cent of gross domestic product - more than the country makes from tourism. Last year, official figures showed remittances of $13.3bn for the full year. John Authers, Mexico City
Giant sucking sound down south.
Whatever they send home is money they dont spend here. At some point Americans will figure out that illegal imigration is a huge negative economically. We lose education dollars, medical costs and incarceration costs to illegal immigrants.
The 2 party system must end.
Hopefully, we can remit a few more of the actual Mexicans themselves. :-)
Those "remittances" are money that used to circulate in the US economy via worker pockets. Still think illegals are so "good for the economy?"
You know... that doesn't sound like a bad idea afterall.
I have never thought Illegals were good for the economy. They are a drain. The recent study on Immigration has proven they are a huge cost to our country.
They come here for a better life, YOURS, and mine. They want us gone. They want what we have.
Mr. Tancredo is the only congressman with a true backbone on this issue.
Our money is sitting in a sieve. Draining out to every third world nation in the world thanks to illegal and legal immigration. These people are bringing their work records in their own country to the embassy and filing for Social Security payments, and getting them. I couldn't believe it. It is legal under the law.
Boy, who said the US economy isn't booming? The illegals seem to be doing great "doing the jobs Americans won't do." Of course, these parasites send all their cash back to Mexico and get free health care, food stamps, and education on the US taxpayers' back. It's a terrific deal for the illegals and a lousy deal for US citizens.
They send half their money back to their home countries. We pay for hud housing, welfare, food stamps, education, and the real biggie, Medical Care.
This week there was a study on the impact of illegal immigration on our economy. It of course is in the billions. Last year, remittances exceeded $30 billion. Almost as much as the California deficit thanks to Governor Grey "out" Davis and his Democrat Assembly and Senate. This state is going broke over Illegal immigration. We have half of the entire country worth here.
Unfortunately that is what we have done. Not only Mexico, but most of the third world countries as well.
ping
Libertarians would let anyone and everyone across the border... including Muslim expansionists.
TAX THESE REMITTANCES. TAX 'EM!!! Tax 'em to high heaven.
I've always wondered how much of it is the result of money laudering.
Maybe we should tax the remittances.
Boy, would that ever make the illegal advocacy groups scream like stuck pigs! (Let's do it.)
I agree. They need to be taxed to the point of near parity with the cost of third party routing.
Yes --- we are throwing good money after bad trying to postpone the inevitable in Mexico. They are a corrupt society -- now they are having massive protests shutting down streets in their Capitol over changes needed in their Social Security system --- for one --- they don't want the retirement age raised from 53!!! With a 70% unionization rate -- compared to ours of 10%, it's pretty obvious why Mexico is going down the tubes.
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