Posted on 06/04/2005 6:16:51 AM PDT by ETERNAL WARMING
Immigrants in the US Send Money Home in Record Numbers By Zulima Palacio Washington, DC 03 June 2005
Remittances / Real broadband - download Remittances / Real broadband Remittances / Real dialup - download Remittances / Real dialup
Until a few years ago, the money that immigrants sent back home every month was only their business. But remittances around the world now total more than $126 billion, according to the World Bank. So it's become an issue for economists, governments and politicians.
(Excerpt) Read more at voanews.com ...
Oh, and one more thing. The ILLEGALS can attend demonstrations at Home Depot on any given Saturday to learn how to set tiles or lay floors.. My guess is you would conclude that makes them "qualified" to do construction? LOL.
uh-huh...
Good for you- that's the least we can ask for now, isn't it?
being sent back to family which has nothing to do with "illegal immigration."
As per the very article under discussion:
"They are frequently illegal immigrants working for low wages, working in the service industries like tourism and restaurants."
I deeply resent the anti-immigrant tone of many of the posts here that are fed by ignorant MSM coverage of only the worst aspects of American society.
If indeed the MSM did cover this issue responsibly, we might have a secure border by now.
I deeply resent the pro illegal-immigrant tone of many of the posts here- namely, yours!!
I'm advocating that foreigners be kept from entering our once beautiful country ILLEGALLY and turning it into a dump.
What part of "illegal" don't you understand- I suspect you've been here long enough, you should understand simple English well enough by now to know the meaning of the word.
Most of them deal in cash or apart of their salary is in cash. That way they can still qualify for and supplement their income with our welfare benefits, food stamps, etc.
They use our schools to educate and baby sit their children and our emergency rooms and health clinics for medical treatments and medicine.
Then there is Medicaid, state unemployment compensation,SSI etc. Why do you think that a lot of them have several different phony Id's.
They don't come here for just a six dollar an hour job. They hide most of their income so they can game the system .
Their employers know this and help them by paying them in cash or part in cash so they don't go over the income limits to qualify for government assistance programs.
That way he uses the American Taxpayer to supplement their pay a benefits and increase his profits.
Our leaders know what's going on and why our welfare systems are going broke in each of our states and it ain't American Citizens or the elderly that's breaking them.
The 126 billion figure is all remittances which specifically includes tranfers from South Africa to other countries and includes money sent from abroad to the US.
What the heck is a "liberal conservative"?
Yes, the refining process is done by us free of charge, huh?
At least those people sending that money back for the most part are doing jobs that benefits the American economy
Indeed, clogging the medical and school systems is an important part of the economy.
Never mind that the medical bills go unpaid except by the taxpayer.
Never mind that the schools are funded by taxes that illegals don't pay.
You don't like reading the whole article.
From the article "But most often she sends cash with friends traveling to El Salvador. Legal channels for the international transfer of money charge 10 to 20 percent of the amount of money sent. It's a high price "
Anyway, a high tax does what high taxes always do, high taxes will cause high tax evasion and a drop in revenue.
I guess you did not read about supply side economics either.
Oh by the way, remittances include transfers by legal immigrants too.
Please read post 66.
The remittance total is for all worldwide remittances. Remittances leaving the US is almost certainly less than $51 billion and does not include remittances coming into the US. Remittances also include transfers by legal immigrants.
I derive the $51 billion top number from the article which says 60% of those are mexican who send 17 billion to mexico. If all immigrants send the same as mexico, you get 17 billion plus 0.4 times 17 billion which yields 25 billion as a reasonably guess for outflow remittances.
Add in a fudge factor of 2 to get a top line maximum and you get $50 billion as a maximum outflow from the US.
The velocity of money is a function of taxation. The less tax, the greater the velocity. At 100% tax, the velocity is near zero or if someone spends a dollar and the govt. takes it all, velocity goes near zero. At 50% tax, a dollar is spent, the govt. takes 50 cents and the other 50 cents goes on to be spent again.
Since illegals pay about the same amount of tax as a citizen at the same income level, I would expect the velocity of money for illegals just as fast as for citizens in the same economic strata.
Velocity of money refers to the number of times that money circulates within the economy thus having a multiplier effect on the money supply and a corresponding expansionary effect on the economy.
Money that is sent out of the country does not circulate in the economy. The immigrants get it and then it is gone. It is off some where in a foreign land circulating and generating wealth for them rather than us.
That differs sharply from the same wages which are paid to a lower income American which are spent in the local economy and then the recipients spend it again on things like wages and cost of goods and rents and then the recipients spend it again. One dollar can circulate around in the economy numerous times generating profits and wealth for all who touch it.
This repatriation of funds means that illegal aliens working and living here are usually living in poverty because a large % of their income is sent home. This makes the social costs of this type of labor much higher than merely the $126 billion they send out.
Our President doesn't want illegals deterred from coming to America. By the time Bush is out of office, this country will be lost forever for true American citizens.
The worse thing I have ever done was to vote for Bush a second time.
sounds like a lot of money,
but it's only
.0115 of the u.s. gross national product.
Isn't "economic conservative" just another way of saying "greedy bastard"?
We have friends in construction in Nevada and Arizona, and they say the same thing.
1. i think illegals should pay their fair share of health care. they've contributed to the destruction of american health care.
2. the u.s. government looks at the money going to mexico, for example, in a different manner than most on this forum. the u.s. government looks at the money going back to mexico as a form of social stability.
without the money going to mexico there would be a greater chance of a communist insurrection south of the border.
Perhaps one of our resident FOQNA loons would like to have a go at explaining this one away...
please read posts 66 and 70.
The illegals do not send out 126 billion. The mexicans which constitute 60% of the immigrant population send out only 17 billion total.
Read the entire article.
I will also reprise post 70.
"The remittance total is for all worldwide remittances. Remittances leaving the US is almost certainly less than $51 billion and does not include remittances coming into the US. Remittances also include transfers by legal immigrants.
I derive the $51 billion top number from the article which says 60% of those are mexican who send 17 billion to mexico. If all immigrants send the same as mexico, you get 17 billion plus 0.4 times 17 billion which yields 25 billion as a reasonably guess for outflow remittances.
Add in a fudge factor of 2 to get a top line maximum and you get $50 billion as a maximum outflow from the US.
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