how about an Export Tax on money leaving the country to non US citizens of say,50%
Posted on 11/15/2014 6:13:58 PM PST by Robert A Cook PE
Following excerpted from a 2012 NY Times article I found while looking for the actual amount of money (cash - non-taxed!) being sent overseas by our illegal aliens. Now, some of this money is obviously sent overseas by legal aliens, legal immigrants, and legal families.
(Yeah, right sure.)
Analysts expect the market for money transfers to grow. The value of cross-border transfers is expected to reach $437 billion in 2012, up from $387 billion in 2009, according to the Aite Group, a research and advisory firm. In the United States, this is led partly by a growth in transfers to China and India and an influx of immigrants from western and eastern Africa, said Larry Berlin, an analyst with First Analysis in Chicago.Western Union and rival companies are poised to profit. Western Union, with the largest share of the market at nearly 18 percent, recorded $4.2 billion in transaction fees last year, up 4 percent from 2010. The fees accounted for more than 75 percent of the company’s total revenue last year. In the first quarter, profits totaled $247.3 million, up 18 percent from the year-ago period, and for all of 2011, net income was $1.16 billion, up 28 percent from the year before.
Western Union and MoneyGram, which has nearly 4 percent of the money-transfer market, according to the Aite Group, are primarily regulated by the states in which they operate. The new rules, however, fall under the oversight of the new federal Consumer Financial Protection Bureau.
In the buildup to the Dodd-Frank rules, Elizabeth Warren, in her former role as a special adviser to President Obama charged with forming the consumer bureau, warned that with money-transfer companies, “you put your money in and take your chances.”
(Excerpt) Read more at nytimes.com ...
How much money has Western Union spent on democrats trying to buy more illegal aliens?
But how much? Here, note the democrats (Elizabeth Warren, among others!) are trying to reduce the charges being made BY Western Union and other companies running the money order franchises, but NOT trying to reduce or tax the (illegal alien) non-taxed money.
Is your point, that illegals don’t pay tax on the money when they earn it or that there’s no tax on it for being sent?
We need a 50% tax on remittances to Mexico.
how about an Export Tax on money leaving the country to non US citizens of say,50%
by 10 seconds...
Great minds, right...?
;)
Both: They are paid in cash here (no taxes; Social Security, Medicare, or state or federal income taxes; or have false SSN’s and so have no accountability), receive welfare and school and medical and other benefits here, and send the untaxed dollars back to Mexico (and other countries.)
See this other article on the amount going in other directions:
It claims less (”only” a little over 100 billion per year)
Click the keyword Aliens to see more illegal alien, border security, and other related articles.
Is it any wonder our economy is shot to Hell?
You’re joking right?
I take it that 1/2T is about equal to the freebies the illegals get from Uncle Sugar, aka, the taxpayer.
And we get to have our women and children raped and murdered to boot!
What a totally diabolical government we have.
btt
So ... these immigrants (the article doesn’t support the claim that they’re all here — or even most of them are here — illegally) are working and contributing to the U.S. economy. The immigrants send a meaningful portion of their earning out of the country meaning the immigrants aren’t extracting as much out of the economy as they contribute. But this is a bad thing. The internal contradictions of the anti-immigrant crowd never cease to amaze me.
Only legal citizens will be taxed when they try to take money out of the country.
What's the joke? I asked a question and the poster answered it. What are you reading in my reply that isn't there?
“how about an Export Tax on money leaving the country to non US citizens of say,50%”
exactly
I’m sure only Americans would reserve the right to surrender money as they expatriate
SMH
100% 8^)
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