Posted on 05/21/2016 6:44:35 PM PDT by MarvinStinson
If a new U.S. administration blocks the flow of remittances — the estimated $20 billion that Mexicans working in the U.S. send home each year — then joint efforts to stop money laundering and other illicit forms of finance will be dealt a dangerous setback, a senior Mexican official warned Thursday.
Donald Trump, the presumptive Republican presidential nominee, has vowed, if elected, to make Mexico pay to build a wall along the entire Southwest border, even if it means impounding remittance payments.
Fernando Aportela, Mexico’s deputy secretary for finance, said any attempt to seize remittances would force Mexicans to hide and smuggle their money, sending them into the shadows of illegality just as Mexican and U.S. officials are working to make money flows more transparent.
“We will end up getting less information” to work with instead of more, Aportela said at the Wilson Center, a nonpartisan think tank in Washington. “It will create (new) challenges.”
Aportela spoke at a forum on how the U.S. and Mexico have rewritten laws and shared information in an effort to stop money laundering and the movement of funds by organized crime, drug traffickers and other criminals.
He was asked whether attempts to confiscate remittances would be legal. Trump’s name was not mentioned.
Mexican officials have repeatedly rejected Trump’s campaign pledge, saying they have no intention of building or paying for a border wall.
A Trump administration could impose regulatory and logistical obstacles to transferring money to Mexico, just as the U.S. has done for terrorism financing. But doing so probably would face challenges in the courts and strong resistance from banks and financial institutions that make money off the transfers.
(Excerpt) Read more at msn.com ...
OOOHH; they might stop the flow of illegal, wetback, rapist, child molesting, murdering, peon, illiterate, social outcasts from their own country from entering ours?
When all muslims feel the heat, ALL, then they will make the misbehavors of there so called religion fall in line.
Who do we need to send toilet brushes to now?
Lazy welfare gibsmedats who are sucking the life blood out of our country.
So, Mexicans (their word, not mine) object to paying a tax on transfers, even though they don't object to paying a profit?
If the illegal immigrants aren’t here working, they have nothing to remit.
What can Mexico do? Stop selling us junk? Stop sending us illegals? Go to war with us? They did that once and it didn’t turn out so well.
-—If the illegal immigrants aren’t here working, they have nothing to remit.-—
Ok...how do we pay for the wall?
Charge a tax on remittances for American citizens and people legally here...?
I thought the idea was for Mexico to pay for it ?
Deduct it from the foreign aid we send to MX every year.
$134,664,000
I agree...
How is that making Mexico pay for the wall?
Last time I looked foreign aid to Mexico is US taxpayer funded...
I'm not trying to be obtuse, but Trump's plan has some major holes in it...
I'm all for the US taxpayer footing the bill to build the wall, I rather have Mexico pay for it, but that's pretty much not going to happen, but, long term it will be a great investment...
The greater the number we can encourage to return to MX, via the use of E-Verify and other enforcement, the smaller the tax-bite for their medical, education, and law enforcement impacts.
Send a wave to overpower the wall like the Mariela Cuban boat lift.
Tell their Mexican nationals in the US to strike, riot, commit espionage.
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