Mexican immigrants sending $1 billion a month to families back home

AMERICAN-STATESMAN ^ | December 14, 2003 | Juan Castillo

[traumer]

" Here to stay... "

[BenLurkin]

I believe this qualifies as a "great sucking sound".

[firehunter]

Why would they want to leave? America is a wonderful place to live! Why they can even make all of this money tax free! (sarcasm off) 1 BILLION dollars? What in the world are we doing here?!!
My tag line says it all..

[Bobby777]

when you go to Wal-Mart, as least one of the ones in the Midwest, they have a few signs in Customer Service ... I was noticing them again last night ...

Money orders: 46 cents

Paycheck cashing: $3

Wire Money to Mexico: $8.50

kinda says it all ...

[BillM]

Since US Dollars can only be ultimately redeemed in the USA for products or services or investments, what is the problem with the route they take? If they are not redeemed, they are just scrap paper.
When you cash a paycheck do you care if the Dollars come from the Bank of Japan, China, America?

[First_Salute]

Bump.

[snopercod]

When I used to live in California, I went to Arizona to work for a while. Each week I would cash my paycheck, run to the Post Office for a money order, and send it home.

I put a roof on my house, too. What's the difference here?

[sixmil]

According to free traders, this doesn't matter because it is useless paper that must be used to turn around and buy US goods, which is good for our economy.

[LA Conservative]

IS there any wonder why the Mexican government wants to make it easier for illegals to stay here by promoting driver's licenses, the right to vote in Mexican elections, and Mexican ID cards for opening up bank accounts. This is critical to their national economy. While Republicans have some complicity in this with respect to the lack of vigor in enforcing our immigration laws, Democrats and other Lefties are their big advocates because they want to add them to their power base.

[Tacis]

This is money looted from the US economy. When the price of illegal alien Mexican criminals to the US economy is calculated, these billions that are lost the the multiplier, e.g., the efect of money that is spent and earned and spent again, has to be included as a negative. It is simply looted. It makes no "new" jobs and enriches no Americans.

[DumpsterDiver]

What's striking about this flow of money to Mexico, say economists and sociologists, is the explosive rate of growth: nearly 300 percent in little more than a decade. Moreover, the number of senders and the money they dispatched grew even in the face of a slow U.S. economy, a depressed job market and intensified security measures along the border.

Gee, do ya think some of it might be drug money?

[longtermmemmory]

One generates value INSIDE the USA the other removes value form the USA. The immigrants treat the USA as a "pilaging turf" to be raped and then send to the true homeland.

[longtermmemmory]

it might also be due to the fact of better tracking.

illegals now have the ability to bank accounts.

mandatory money transfer reporting amounts are extremely low.

We know more.

[DumpsterDiver]

mandatory money transfer reporting amounts are extremely low.

I don't understand what you're saying here. Can you elaborate a little?

[joesnuffy]

Make them all citizens of the U.S.A. then they can sponsor more illegals...to become citizens..
and they will all be eligible for taxpayer funded "support"......

Not to mention...all eligible for affirmative action appointments, promotions, business loans, grants & scholarships for education as well as start ups for farms and new businesses, preferences in all areas...(and when their ventures fail the first couple of times...bailouts)

Gotta merge the USA Canada and Mexico...gotta mix up the USA with plenty of Mexicans Arabs make it a real international global community...give them all the vote...fill the country up with criminals so that we become a police state willing to trade safety and security for freedom

[1rudeboy]

According to protectionists, this matters because it is paper that is too valuable to be trusted in the hands of foreigners, which only Pat Buchanan can determine, although he doesn't know how to put an end to the matter.

[ikka]

The young men live and work in Austin and, depending on their skills, might earn $200 to $400 in a week, although some earn considerably more.

$400 a week = $20000 a year, in Texas, this is not poverty level. Especially when you considrer at least some of the time there are no taxes paid.

[longtermmemmory]

The amount that is required to be reported is low.

I believe as little as $200.00. Compare this with $10,000 domestic transactions.

[sixmil]

According to protectionists reciprocal free traders, this matters because it is paper that is too valuable to be trusted in the hands of foreigners better put to use here, which only Pat Buchanan can determine, although he doesn't know how to put an end to the matter.

And just a few weeks ago, someone asked me what the connection was between unilateral free traders and open borders types.

[Luis Gonzalez]

Most people in this forum are not well-enough informed to understand that the removal of cash from circulation in the U.S. is actually helping keep inflation down.

It's paper that it's going to be used in some other country in exchange for goods and services there.

Who cares?

We just print more when we need more.