"Help wanted signs everywhere and rising wages."
The result would be massive cost-push inflation.
"Most Americans would experience an improved standard of living."
No, they wouldn't. Prices would race ahead of wages. Also, with a graduated income tax, inflation would shove people into higher brackets faster than Congress could index the brackets for inflation, so their tax bite increases even as their "increased pay" is debased in value.
"It would be the kind of recession that was hard on the rich but good for the middle class and the poor."
In other words, it would be hard on people who have capital to invest, which means investment (both foreign and domestic) in the U.S. would slow down or stop. What would be most likely to happen is capital flight to more investor-friendly climes, along with the capitalists who own said capital.
Last I checked, 1% of the population pays 37% of the taxes. Convince that 1% to leave, and you have the almost the same number of mooches trying to get their "fair share" of the loot . . . and only 63% of the loot to go around. Congress can either borrow a lot more money (at much higher interest than now), or they can raise taxes on the rest of us to "make up" that 37%.
"I've never seen one of those before and I think I might like it."
I have. It was back when we had double-digit inflation in the 1970s. The result was interest rates hitting record highs. That would cause ARMs to cycle to at-present unbelievable rates, which would result in many people losing their homes.
I have news for you: it will not be the rich losing their homes. It will be middle-class and poor people getting foreclosed.
Yeah, I'm sure you'd like losing your home.
But what is the alternative? Allow people to continually break our laws? If it is necessary, institute a TEMPORARY worker program with no amnesty. That would solve the problem. Leaving the situation as it is is a bad idea, and amnesty is an even worse idea.
I'm sure no AMERICANS would lose their home because of that and/or the housing bubble bursts when 19 million residents somehow magically disappear overnight.
Also, Mr. Nimble never addressed the points raised in this post #49 - maybe he WANTS the housing bubble to burst - the record is so noted.