Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Mexico has more Billionaires than Saudi Arabia
CNN - LOU DOBBS TONIGHT ^ | 12/17/04-Aired 12/16/04 | cnn

Posted on 12/17/2004 12:47:05 PM PST by JustAnotherSavage

DOBBS: Tonight, an estimated 15 million illegal aliens live in this country, at least half of them from Mexico. Many are here because they chose to flee crushing poverty in Mexico.

But, in point of fact, Mexico is one of the richest countries in Latin America, amongst -- the millionaires, billionaires and its wealth concentrated in the hands of very few.

CASEY WIAN: They sneak across the border seeking jobs they can't find in Mexico. The question isn't why they come, it's why can't Mexico's economy support its own people.

Nearly half of Mexico's population lives in poverty. Ten percent are indigent, existing on a dollar a day. Yet the nation has vast wealth. Mexico has more "Forbes" billionaires, 11, than all but eight other nations. It has more billionaires than Saudi Arabia, Switzerland or Taiwan. It also has more than 85,000 millionaires.

GEORGE W. GRAYSON, OF WILLIAM & MARY: There is a small economic elite who live like maharajas, and there's a political elite that protects them. Our border provides an escape valve which really lets the Mexican political and economic elite off the hook in terms of providing opportunities for their own people.

WIAN : About 10 percent of Mexico's 105 million people live here in the United States. They're called national heroes by President Vicente Fox because this year they'll send home about $16 billion,***** more than any Mexican industry except oil.******

Mexico's outdated tax system is plagued by widespread tax evasion. It collects taxes at less than half the rate of the United States. As a result, Mexico's public-school and health-care systems suffer.

WIAN: Meanwhile, the gap between rich and poor is growing. So Mexico continues to export one of its most valuable assets, people.

snip-------

(Excerpt) Read more at transcripts.cnn.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Crime/Corruption; Culture/Society; Extended News; Foreign Affairs; Mexico; News/Current Events; US: Arizona; US: California
KEYWORDS: aliens; billionaires; corruption; illegalimmigration; immigration; mexico; money; security; wealth; welfare
Navigation: use the links below to view more comments.
first previous 1-2021-4041-43 next last
To: rdb3; Clemenza
This is not just populist idiocy. There is a problem in Latin America with lack of investment by the wealthy in their own countries. This results in lack of economic development and job creation in Latin America. Then you can end up with a vile populist "revolution" such as the Chavez takeover in Venezuela. This is one rare case where I think CNN is essentially telling the truth and bringing up an important issue.

We in America have so much economic freedom and opportunity, but that level of economic freedom does not exist in most developing countries. It's difficult for us to grasp, but it is really difficult for most people to make a good living in Mexico...much tougher than in America. If you can't make a decent income here, you're just not working hard enough.

21 posted on 12/17/2004 1:29:48 PM PST by carl in alaska (Once a Chargers fan, always a Chargers fan....)
[ Post Reply | Private Reply | To 8 | View Replies]

To: All
GEORGE W. GRAYSON, OF WILLIAM & MARY: There is a small economic elite who live like maharajas, and there's a political elite that protects them. Our border provides an escape valve which really lets the Mexican political and economic elite off the hook in terms of providing opportunities for their own people.

There's nothing else you need to know about illegal immigration except why our government goes along with it.

22 posted on 12/17/2004 1:32:20 PM PST by skip_intro
[ Post Reply | Private Reply | To 1 | View Replies]

To: staytrue
"Microsoft is one of the best examples of the rich trying to destroy all competitors."

Hey, get a grip on reality. The history of the high-tech economy is littered with companies that no longer exist which once dominated their industry sector. Digital Equipment Corp. (DEC) once was a huge, powerful company in the mini-computer industry in the early '80s, but it was devastated by the PC and microprocessor-based computer architecture. Many of the leading mainframe and mini-computer software companies collapsed in the 90's as the PC became the leading computer architecture. Microsoft is just trying to prosper over the long run, which is very difficult to do in the technology industry. Gates & Ballmer are smarter than your average high-tech executive and they know it will be tough for Microsoft to continue to grow and prosper for the rest of this century.

About the only high-tech companies that have withstood competition over the long term are IBM and HP, and IBM was nearly hammered in the 90's. It took a great turnaround job by Lou Gerstner to bring IBM back to robust health.

23 posted on 12/17/2004 1:39:15 PM PST by carl in alaska (Once a Chargers fan, always a Chargers fan....)
[ Post Reply | Private Reply | To 20 | View Replies]

To: staytrue
Another silly and useless fact, there are more white people on welfare than black in the USA (not per capita rates, just total numbers).

Another silly and useless fact, just a shade under 70% of the "white people on welfare" in the US have Hispanic surnames. Of those Hispanics, almost 85% can trace their cultural heritage to Mexico, via illegal immigration, since 1950.

24 posted on 12/17/2004 1:43:43 PM PST by Amerigomag
[ Post Reply | Private Reply | To 14 | View Replies]

To: JustAnotherSavage

The Church helps keep it this way, and likes it this way. Very much.


25 posted on 12/17/2004 1:45:00 PM PST by Waco
[ Post Reply | Private Reply | To 1 | View Replies]

To: Amerigomag

can you quote a source for your post about 70 percent ?


26 posted on 12/17/2004 1:46:29 PM PST by staytrue
[ Post Reply | Private Reply | To 24 | View Replies]

To: JustAnotherSavage

And soon the PRI will be back in power and the situation will spiral further downward.


27 posted on 12/17/2004 1:47:50 PM PST by Tempest (Click on my name for a long list of press contacts)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tempest

Sometimes I wonder if the PRI ever lost power. Maybe Fox was put up as a conservative candidate to fool the masses and the USA.


28 posted on 12/17/2004 2:08:13 PM PST by JustAnotherSavage ("As frightening as terrorism is, it's the weapon of losers." P.J. O'Rourke)
[ Post Reply | Private Reply | To 27 | View Replies]

To: Amerigomag

after looking, I can find no justification for your claims in post 24.

The closest I could find is from the US census dept. which has a 20% poverty rate for hispanics and a 10% rate for whites not hispanic.

Out of 100 people in the US, about 69 are white, not hispanic, 15 hispanic, 12 black, 3 other.

Using the poverty statistics, out of 100 people, .7 times .1 would be 7 whites, not hispanic in poverty and .15 times .2 or 3 hispanics would be in poverty.

Or 7 whites, not hispanic for every 3 hispanics in poverty in the US.


29 posted on 12/17/2004 2:12:27 PM PST by staytrue
[ Post Reply | Private Reply | To 24 | View Replies]

To: Clemenza
Just more populist idiocy.

In part perhaps, but the fact remains that Mexico is a kleptocracy with government at all levels so corrupt they make New York, Chicago and New Orleans pols look like boy scouts. They are probably worse than India,of which it's said that f you can't bribe an Indian official, you can't bride any official anywhere. I'd add, "except maybe Mexico".

30 posted on 12/17/2004 2:27:24 PM PST by El Gato (Activist Judges can twist the Constitution into anything they want ... or so they think.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: GOP_1900AD
Overall, Mexico has a less debauched culture than the US

I disagree........Mexico's culture depends on bribes, payoffs, and kickback's to deliver goods and services to their consumers. Their legal system functions the same way.

This "culture" must change before an expansion of the middle class similar to to the USA could occur.

31 posted on 12/17/2004 2:32:18 PM PST by Tripleplay
[ Post Reply | Private Reply | To 17 | View Replies]

To: GOP_1900AD
It's s double edged sword. Historically, Mexico has been more feudal and less bourgeois than the US. The downside is that middle class is not well developed. There is less of a supportive environment for start ups and indigenous major companies; those with wealth have little interest in being big business people or in supporting start ups. There is only a very small venture capital system. The upside is, people are more religious and more family oriented. No doubt, the power of the Roman Catholic Church plays its role. Overall, Mexico has a less debauched culture than the US. If Mexico is to truly shine economicially, somehow those with assets need to be convinced to invest them in native major businesses. An entrepreneurial group needs to be developed more.

Exactly, but even Dobb's portrays it as too little taxation. I'll guarantee that's the way most people will see it.

32 posted on 12/17/2004 2:38:11 PM PST by Moonman62 (Federal Creed: If it moves tax it. If it keeps moving regulate it. If it stops moving subsidize it.)
[ Post Reply | Private Reply | To 17 | View Replies]

To: GOP_1900AD
Less debauched culture,,,get out!!

There have been donkey show in Tijuana for decades. Narco trafficking and rampant bribery and the total corruption of society are rampant and ingrained....
33 posted on 12/17/2004 2:52:20 PM PST by aspiring.hillbilly
[ Post Reply | Private Reply | To 17 | View Replies]

To: staytrue

BTW, what r the per capita rates?I'm having difficulty finding info/ Thanx


34 posted on 12/17/2004 3:07:59 PM PST by thombo
[ Post Reply | Private Reply | To 14 | View Replies]

To: aspiring.hillbilly

Tijuana is not the real Mexico. At least not culturally.

And yes corruption exists. However, it is still quite common to find women saving themselves for marriage in main stream society. Chaperones are still used. There are far fewer nihilistic types there. Etc.


35 posted on 12/17/2004 3:32:32 PM PST by GOP_1900AD (Stomping on "PC," destroying the Left, and smoking out faux "conservatives" - Take Back The GOP!)
[ Post Reply | Private Reply | To 33 | View Replies]

To: JustAnotherSavage

The Whore Street Journal (WSJ) must hate Dobbs.


36 posted on 12/17/2004 3:35:07 PM PST by junta (junta, "is one uppity cracker")
[ Post Reply | Private Reply | To 1 | View Replies]

To: thombo; staytrue; All

http://www.freerepublic.com/focus/news/1287036/posts?page=18

Economy Slowed, But Immigration Didn't - The Foreign-Born Population, 2000-2004


37 posted on 12/17/2004 7:19:00 PM PST by JustAnotherSavage ("As frightening as terrorism is, it's the weapon of losers." P.J. O'Rourke)
[ Post Reply | Private Reply | To 34 | View Replies]

To: junta

He's gotten an emmy for his Broken Borders series.


38 posted on 12/17/2004 7:20:20 PM PST by JustAnotherSavage ("As frightening as terrorism is, it's the weapon of losers." P.J. O'Rourke)
[ Post Reply | Private Reply | To 36 | View Replies]

To: JustAnotherSavage; Ginifer

Good post JS-

Ping to Ginifer:
"Nearly half of Mexico's population lives in poverty. Ten percent are indigent, existing on a dollar a day. Yet the nation has vast wealth. Mexico has more "Forbes" billionaires, 11, than all but eight other nations. It has more billionaires than Saudi Arabia, Switzerland or Taiwan. It also has more than 85,000 millionaires."


39 posted on 12/17/2004 10:30:31 PM PST by FBD (Report illegals and their employers at: http://www.reportillegals.com/)
[ Post Reply | Private Reply | To 1 | View Replies]

To: FBD

THE ONLY THING THAT WILL HELP THE IMMIGRATION PROBLEM IS TO FIX MEXICO'S ECONOMY. MEXICAN POLITICIANS AND OLIGARCHS WON'T DO IT, SO THE ONLY SOLUTION IS POLITICAL PRESSURE FROM WITHOUT.

GEORGE SHOULD DO IT. WRITE HIM AND YOUR CONGRESSIONAL DELEGATION.

IN THE MEANTIME, PUT EVERY ILLEGAL CAUGHT BUILDING A WALL BETWEEN HERE AND MEXICO.


40 posted on 12/18/2004 9:06:42 AM PST by amihow
[ Post Reply | Private Reply | To 39 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-43 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson